On November 14th, the LSTA hosted a webinar on “Planning for Changes in GAAP: Credit Agreement Implications” presented by Howard Friedman of PriceWaterhouseCoopers, Ken Steinberg of Davis Polk, and Ramya Tiller of Debevoise. The presenters noted that we are in one of the most active periods (if not the most active period) for accounting changes ever with significant developments in revenue recognition and lease accounting taking place. On January 1, 2019, private companies must comply with the new revenue recognition (ASC 606), something with which public companies had to comply earlier this year.
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Membership in the LSTA offers numerous benefits and opportunities. Chief among them is the opportunity to participate in the decision making process that ultimately establishes loan market standards, develops market practices, and influences the market’s direction.