EFTA01097561Set 9
2008-12-3145p16,499w
discussed in Notes 7 and 8 to the financial statements, the Fund adopted FASB Statements No.
157, Fair Value Measurement and No. 159, The Fair Value Option for Financial Assets ... Accountingfor Transfers and Servicing of Financial Assets
and Extinguishments of Liabilities — a replacement of FASB Statement No. 125.
The Fund considers the transfer of investments as a sale when ... Board") issued FIN No. 48,
Accountingfor Uncertainty in Income Tares - an Interpretation of the FASB Statement No. 109
("FIN 48"). FIN 48 establishes a requirement to assess whether
https://www.justice.gov/epstein/files/DataSet%209/EFTA01097561.pdf
EFTA00791821Set 9
2018-06-3043p17,945w
Adopted Accounting Standards
Scope ofModification Accounting
In May 2017, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2017-09, Scope of Modification Accounting.
The amendments in this ... financial statements.
Recognition and Measurement ofFinancial Assets and Financial Liabilities
In January 2016, the FASB issued ASU 2016-01, which updates certain aspects of recognition, measurement, presentation and disclosure ... consolidated
financial statements.
Measurement ofCredit Lasses on Financial instruments
In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses. The amendment seeks to provide financial statement users
https://www.justice.gov/epstein/files/DataSet%209/EFTA00791821.pdf
EFTA00316714Set 9
2009-02-27347p119,473w
Accountant for the Company during the Class Period.
FAS: Statements of Financial Accounting Standards.
FASB: Financial Accounting Standards Board.
FASCON: FASB Concept Statements.
FIN: FASB Interpretations.
FPD: First Payment Default ... Document 102 Filed 02127/09 Page 12 of 347
FSP: FASB Staff Opinions.
GAAP: U.S. Generally Accepted Accounting Principles.
GAAS: Generally Accepted Auditing Standards.
Goldman: Goldman Sachs & Co.
Greenberg: Defendant Alan ... Financial Accounting Standards No. 5, Accounting for Contingencies,
issued in March 1975 by the FASB.
SFAS 115: Statement of Financial Accounting Standards No. 115, Accounting for Certain
Investments in Debt
https://www.justice.gov/epstein/files/DataSet%209/EFTA00316714.pdf
EFTA01118864Set 9
46p21,591w
Measurements and Disclosur
d. Offsetting financial instruments
In accordance with Financial Accounting Standards Board ("FASB") Accounting Standards
Codification ("ASC") 815-10.45-3 to 7, Derivatives andHedging, OTC derivative assets,
liabilities ... Financial Statements
December 31, 2011
4. Fair Value Measurements and Disclosures
In accordance with FASB ASC 820-10, Fair Value Measurements and Disclosures, the
Partnership discloses the fair value ... valuation (level 3 measurements). The three levels of the fair value
hierarchy under FASB ASC 820-10 arc as follows:
Level I - Financial assets and liabilities whose values reflect unadjusted
https://www.justice.gov/epstein/files/DataSet%209/EFTA01118864.pdf
EFTA01074554Set 9
2008-12-3144p15,960w
identify whether they are
variable interest entities as defined by Financial Accounting Standards Board (FASB) Interpretation
No. 46(R), (FIN 46(R)), Consolidation of Variable Interest Entities, and to assess ... assets.
Actual results could differ from those estimates.
(z) Recently Issued Accounting Standards
FASB Interpretation No. 48 (FIN 48), Accounting for Uncertainty in Income Taxes, addresses the
uncertainty about ... Consolidated Financial Statements
December 31, 2008 and 2007
beginning after December 15, 2006. However, FASB Staff Position (FSP) FIN 48-3, Effective Date
of FASB Interpretation No. 48for Certain Nonpublic
https://www.justice.gov/epstein/files/DataSet%209/EFTA01074554.pdf
EFTA01366955Set 10
2017-01-011p733w
will be reclassified to otter mare
(expense)
New accounting standards
In ..furry 2013. the FASB issued ASU 2013-11, Income Taxes (Topic 740) Presentation of an Unrecogrued Tax Bereft ... result in any material rnpact to our combined financial
statements.
In May 2014, me FASB issued ASV 2014-09, Revenue from CeltaCIS wall Gustavo's. which requires an enbty ... permitted A delay in the effective date is currently being considered by the
FASB, which we expect will remit in at feast a ore year deferral. MU 2014-09 permits
https://www.justice.gov/epstein/files/DataSet%2010/EFTA01366955.pdf
EFTA01074451Set 9
2007-12-3116p4,271w
incurred.
(q) Recently Issued Accounting Standards
In September 2006, the Financial Accounting Standards Board (FASB) issued SFAS No. 157, Fair
Value Measurement (SFAS No. 157). SFAS No. 157 defines fair ... applies
under other accounting pronouncements that require or permit fair value measurements, the FASB
having previously concluded in those accounting pronouncements that fair value is the relevant
measurement attribute. Accordingly ... adoption to have a material impact on its financial
statements.
In February 2007, the FASB issued SFAS No. 159, The Fair Value Option for Financial Assets and
Financial liabilities—Including
https://www.justice.gov/epstein/files/DataSet%209/EFTA01074451.pdf
EFTA00611194Set 9
2007-12-3112p3,719w
incurred.
(q) Recently Issued Accounting Standards
In September 2006, the Financial Accounting Standards Board (FASB) issued SFAS No. 157, Fair
Value Measurement (SFAS No. 157). SFAS No. 157 defines fair ... applies
under other accounting pronouncements that require or permit fair value measurements, the FASB
having previously concluded in those accounting pronouncements that fair value is the relevant
measurement attribute. Accordingly ... adoption to have a material impact on its financial
statements.
In February 2007, the FASB issued SFAS No. 159, The Fair Value Option for Financial Assets and
Financial liabilities—Including
https://www.justice.gov/epstein/files/DataSet%209/EFTA00611194.pdf
EFTA01377795Set 10
2017-12-311p821w
standard update on the consolidated financial statements and related disclosures.
In August 2014. the FASB issued ASU No. 2014-15, Presentation of Financial Statements—Going Concern. The new
guidance provides ... will have a material impact on the consolidated financial statements.
In April 2015. the FASB issued ASU No. 2015-03. Interest—Imputation of Interest, accounting standards update under which ... have any effect on the consolidated financial
statements.
In April 2015 the FASB issued ASU No. 2015-05, Intangibles—Goodwill and Other—Internal-Use Software. The new
guidance will help
https://www.justice.gov/epstein/files/DataSet%2010/EFTA01377795.pdf
EFTA00293562Set 9
2010-12-3133p13,531w
Recognition for Arrangements With Multiple Deliverables
In October 2009, the Financial Accounting Standards Board ('FASB") amended the accounting
standards for revenue recognition to remove tangible products containing software components ... functionality
from the scope of the software revenue recognition guidance.
In October 2009, the FASB also amended the accounting standards for multiple deliverable
revenue arrangements to:
• provide updated guidance ... Statements
December 31, 2010 and 2009
Recently Adopted Accounting Standards
In January 2010, the FASB issued guidance related to additional requirements regarding
disclosures of fair value measurements. The guidance requires
https://www.justice.gov/epstein/files/DataSet%209/EFTA00293562.pdf
EFTA00293531Set 9
2009-12-3131p12,516w
Recently Issued Accounting Standards
In January 2010, the Financial Accounting Standards Board (FASB) issued authoritative guidance
related to additional requirements regarding disclosures of fair value measurements. The guidance
requires ... assessing the potential effect, if any,
on its footnote disclosures.
In October 2009, the FASB issued authoritative guidance on revenue recognition that will become
effective for the Company beginning January ... enabled products will now be subject to other relevant revenue
recognition guidance. Additionally, the FASB issued authoritative guidance on revenue
arrangements with multiple deliverables that are outside the scope
https://www.justice.gov/epstein/files/DataSet%209/EFTA00293531.pdf
EFTA01078055Set 9
2014-12-3116p4,646w
USVI members. Management of
the Company has decided that Financial Accounting Standards Board ("FASB") Accounting Standards
Codification ("ASC") topic 740, Income Taxes, which relates to uncertain tax positions, does ... fair value in the financial statements.
Recently Issued Accounting Standards — In May 2014, the FASB issued Accounting Standards Update
("ASU") 2014-09, "Revenue from Contracts with Customers (Topic 606)," which ... Financial Statements
Note 1. Summary of Significant Accounting Policies (continued)
In October 2012, the FASB issued ASU 2012-04, 'Technical Corrections and Improvements," which is
effective for nonpublic companies
https://www.justice.gov/epstein/files/DataSet%209/EFTA01078055.pdf
EFTA01078597Set 9
2015-12-3117p4,928w
Policies (continued)
Recently Issued Accounting Standards — In February 2016, the Financial Accounting Standards Board
("FASB") issued Accounting Standards Update ("ASU") 2016-02, "Leases (Topic 842)," which is required ... financial statements.
As part of its simplification initiative, in April 2015, the FASB issued ASU 2015-03, "Interest—
Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance ... impact on its financial statements when this ASU is implemented.
In August 2014, the FASB ASU 2014-15, "Disclosures of Uncertainties about an Entity's Ability to
Continue
https://www.justice.gov/epstein/files/DataSet%209/EFTA01078597.pdf
EFTA01366410Set 10
2015-06-051p772w
Company follows the asset and liability method of accounting for income taxes under FASB ASC, 740,
"Income Taxes." Deferral tax assets and liabilities are recognized for the estimated future ... nerv-Issry, to reduce deferred tax assets
to the amount expected to be realized.
FASB ASC 740 prescribes a recognition threshold and a measurement attribute for the financial statement
recognition ... Accounting Pronouncements:
The Company complies with the reporting requirements of Financial Accounting Standards Boas. ("FASB")
issued Accounting Standards Update ("ASU") No. 2014-10, which eliminated certain financial reporting
requirements
https://www.justice.gov/epstein/files/DataSet%2010/EFTA01366410.pdf
EFTA00295614Set 9
2012-12-3152p16,979w
remote.
Recent Accounting Pronouncement — In December 2011, the Financial Accounting Standards Board
("FASB") issued Accounting Standards Update ("ASU") 2011-11, Disclosures about Offsetting Assets and
li abilities. The ASU requires ... consolidated financial statements.
3. INVESTMENTS
Fair Value of Financial Instruments — In accordance with FASB Accounting Standards Codification
("ASC") Topic 820 ("ASC Topic 820"), the Company defines fair value
https://www.justice.gov/epstein/files/DataSet%209/EFTA00295614.pdf
EFTA01190083Set 9
2016-07-017p2,017w
have advised us are probable of assertion and must be disclosed in accordance with FASB
Accounting Standards Codification 450, Contingencies.
We understand that whenever, in the course of performing legal ... consult with us concerning the question of such disclosure and the applicable
requirements of FASB Accounting Standards Codification 450, Contingencies (excerpts of which can
be found ... have advised us are probable of assertion and must be disclosed in accordance with FASB
Accounting Standards Codification 450, Contingencies.
We understand that whenever, in the course of performing legal
https://www.justice.gov/epstein/files/DataSet%209/EFTA01190083.pdf
EFTA00595953Set 9
2015-12-3132p8,833w
statements of operations.
New Accounting Pronouncements
In May 2014, the Financial Accounting Standards Board ("FASB") issued a new accounting
standard in order to clarify the principles for revenue recognition. This ... standard will have on the
Company's consolidated financial statements.
In August 2014, the FASB issued a new accounting standard on determining when and
how to evaluate and disclose going ... this standard.
-13-
EFTA00595968
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)
In January 2016, the FASB issued a new accounting standard on leases that requires
entities recognize on their balance sheet
https://www.justice.gov/epstein/files/DataSet%209/EFTA00595953.pdf