Topic: Tech Sector M&A - Financial Reporting & Tax Implications
Speakers: Atul Deshmukh, Founding Partner; Navneet Sharma, Associate Partner, Shishir Lagu, Partner - US Tax & Advisory; and Rajesh Khairajani Partner - Global Valuation Services with International Assurance and Advisory Services, KNAV
40-45 minutes for KNAV team to discuss about accounting, tax and valuation aspects of M&A:
- Day one accounting
- Accounting considerations for acquisition by a SPAC
- Tax considerations in M&A for buyers and sellers
- Purchase price allocations -valuation considerations
- Impairment analysis – valuation considerations
Atul Deshmukh: Founding Partner, International Assurance and Advisory Services, KNAV – 30 years
Atul heads the International Assurance and Advisory Services Practice of the KNAV Group. As the lead Partner at KNAV’s Atlanta ofﬁce, USA, Atul leverages his extensive business experience to advise multinational clients in a rapidly changing business environment with his workable but creative ideas and intrepid accounting skills.
Navneet Sharma: Associate Partner, International Assurance and Advisory Services, KNAV – 12 years
Navneet has over 12 years of experience in providing assurance and advisory services to clients reporting under US GAAP, IFRS and Indian GAAP (Ind AS). Navneet has extensive experience and knowledge of SEC Reporting. Navneet has helped clients with assistance in preparation of 10K and 10Q including liaison with auditors, assistance in translating USGAAP financials to IndAS/ IFRS. He also provided assistance to multiple tech companies in implementing the new revenue recognition and new lease standards as per US GAAP, Ind AS and IFRS.
Shishir Lagu: US Tax Partner within the International Tax Advisory and Regulatory Service Practice at KNAV. Based out of the Mumbai office.
- Shishir has worked on many challenging tax advisory and regulatory services comprising of US federal, state and local tax compliances, tax representations, tax advisory opinions on domestic and cross border transactions, tax due diligences and tax accounting services (US GAAP, IFRS & Indian GAAP).
- He has undertaken a vast number of US tax due diligence assignments for varied manufacturing and service industries and has made a key difference as a core member of our tax due diligence practice for the past 10 years;
- He has worked on international tax restructuring assignments and has brought fore tax efficacies to clients
- He has also been actively involved in the preparation of global transfer pricing plans and tax efficiency studies
- He is a speaker at conferences and seminars conducted by the Institute of
Chartered Accountants of India, Institute of Company Secretaries of India and local study circles of these institutes.
- Member of the Institute of Chartered Accountants of India
- US Certified Public Accountant
- Member of the Institute of Singapore Chartered Accountants
- Bachelor Degree in Law from the Mumbai University.
- Completed certificate course on International Taxation from the Institute of Chartered Accountants of India
Rajesh Khairajani: Partner for Financial Reporting and Valuation Practice at KNAV. Based out of the Mumbai office.
- Advises multinational firms in financial reporting (US GAAP, Ind AS, IFRS etc.) with a special focus on fair value measurements, business combinations, impairment testing and share based payments. He has enriching experience in audit and financial reporting for a host of Indian multinational companies for financial statements prepared in accordance of USGAAP, IFRS, and Ind AS.
- Performed valuation per ASC 350/360 and ASC 805 for one of the largest medical transcription company listed on NYSE (“New York Stock Exchange”)
- Performed valuation per ASC 350/360 for a Bermuda stock exchange listed company having investments in a commodity exchange business, oil exploration business and real estate business
- Performed valuation as per ASC 805 and ASC 350 for one of the largest US pharmaceutical consulting company acquired by an Indian multinational pharmaceutical company listed on the BSE (“Bombay Stock Exchange”) &
NSE (“National Stock Exchange)
- Performed impairment analysis per IAS 36 for a major IT company listed on the BSE (“Bombay Stock Exchange”) & NSE (“National Stock Exchange)
- Performed valuation for tax restructuring for a major IT company listed on the BSE
- Conducted training programs on IFRS for a major IT player and a major pharmaceutical player