Insights

David B. Smith Joins DLA as Partner in the Firm’s Forensic, Valuation and Litigation Support Group

DLA, LLC (“DLA”), an Internal Audit, Accounting & Corporate Finance Advisory Firm headquartered in the New York Metro area, is excited to announce the addition of David B. Smith, CPA/ABV/CFF, ASA, as a Partner in the Firm’s Forensic, Valuation and Litigation Support (FVLS) group. David has over 30 years of business advisory expertise in litigation support, economic damage analysis, forensic accounting, and business valuation and has testified numerous times as an expert witness on a broad array of disputes in both State and Federal Courts, and in arbitration proceedings. “The experience that David brings to DLA is immeasurable,” states David Landau, DLA’s Founder & CEO. “David is a skilled expert witness in the areas of matrimonial and commercial litigation. I am honored that David chose to join DLA and look forward to having him on our team.”

DLA, LLC Announces 2021 Fall Promotions

DLA, LLC (“DLA”), an Internal Audit, Accounting & Corporate Finance Advisory Firm headquartered in the New York Metro area, is excited to announce the promotion of several employees. David Landau, Founder & CEO states, “As a company, we strive to promote from within. We look at our employees who are ambitious and have a strong desire to advance and grow in their positions. We encourage team members to think big when it comes to DLA and their own personal career growth." “Each of these staff members have shown drive, dedication, and commitment to our clients and each other. I have no doubt that they will continue to excel and exceed our expectations in their new roles,” adds Phil Ramacca, DLA President & COO.

Restating Financial Results

In the first half of 2021, there was a surge in financial restatements. The reason relates to guidance issued by the Securities and Exchange Commission, requiring special purpose acquisition companies (SPACs) to report warrants as liabilities. SPACs are shell corporations that are listed on a stock exchange with the purpose of acquiring a private company, thereby making it public without going through the traditional IPO process. Historically, SPACs that offer warrants (which allow investors buy shares at a set price in the future) have reported those instruments as equity.

Alex Bogopolsky Joins DLA as Managing Director, Accounting Advisory

DLA, LLC (“DLA”), an Internal Audit, Accounting & Corporate Finance Advisory Firm headquartered in the New York Metro area, with additional offices in Boston and Central New Jersey, is excited to announce the addition of Alex Bogopolsky as Managing Director in the Accounting Advisory practice. Alex joins the Firm with more than three decades of technical accounting experience stemming from his auditor and consultant roles at the Big 4 and industry. “Alex will be an exciting addition to the DLA family,” stated DLA’s Founder and CEO, David Landau. “His technical accounting experience and background complement our rapidly growing Accounting Advisory group.”

Post-Mortem of Revenue Recognition Rules

The Financial Accounting Standards Board (FASB) recently conducted a post-implementation review of Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers (Topic 606). The rules were issued in 2014 but took effect in 2018 for public companies and in 2019 for private companies.