Special Purpose Acquisition Companies (SPAC's)

Writing tips: Readability

▪ Goal – Help the busy reader want to receive your message by making your written product inviting and easy to read. ▪ Table of contents ▪ Chapter/section headings ▪ Side captions ▪ White space ▪ Short paragraphs (three to five sentences) ▪ Bulleted lists ▪ Charts, graphs, pictures

Writing tips: Paragraphs

▪ Paragraph – A series of three to five sentences dealing with one topic

▪ Start with a topic sentence ▪ Identify the subject ▪ Introduce the controlling idea ▪ Enumeration ▪ Chronology ▪ Comparison ▪ Contrast ▪ Cause & effect

▪ Logical paragraph development

Writing tips: Paragraphs

▪ Examples of good topic sentences ▪ The record keeping ability is a major advantage of

the blockchain. ▪ Not every country operating within the EU is

contributing the same amount. ▪ The first step for banks to implement CECL is to

start gathering data. The banks need to locate… ▪ LIBOR is globally recognized and there are five main

currencies that use LIBOR. Those currencies include…..There are many rates like LIBOR all around the world.

Self Editing Example – Prepositional Decay

▪ It is imperative that disbursers of funds from cash accounts comply with controls related to certification of invoices prior to issuance of checks to suppliers of goods and services to the company. ▪ Ten Prepositions ▪ Suggested rewrite: Disbursing agents must

certify invoices before paying them.

Self Editing Example – Passive voice

▪ Through audit tests it was revealed that invoices were paid without having been certified by appropriate personnel as required by policies pertaining to disbursement of funds. ▪ Four passive voice constructions. ▪ Suggested rewrite: The disbursing agent paid

uncertified invoices contrary to policy.

Self Editing Example – Parallel construction

▪ The uncertified voucher payments occurred for two reasons. First, policies were vague. Secondly, the agents did not receive training. Also, no automated tools existed to aid verification. ▪ Lack of training ▪ Automated tools ▪ Vague policies

Self Editing Example – “there were” constructions

▪ Because of the problems mentioned above, there were payments that were made by disbursing agents to contractors that were improper; among these payments there were payments amounting to over $3 million that subsequently were revealed to have been without merit. ▪ Suggested rewrite: As a result, disbursing agents

paid over $3 million in fraudulent claims.

Writing tips: Strong sentences

▪ The best sentences are active, direct and simple ▪ Clear subject ▪ Strong verb ▪ Object

▪ Avoid ▪ Passive voice ▪ “There is” and “there are” and “it is” constructions ▪ Prepositional decay ▪ Generalities and vagueness, especially “etc.”

Writing tips: Active vs. Passive voice

▪ Not: “Accounting rules for film and television production were originally used by these companies, but…”

▪ But: “Companies originally used accounting rules for film and television, but…”

▪ Not: “Throughout the investigation it was found that most of the responsibility was on the traders who had influenced the LIBOR…”

▪ But: “Investigators blamed the traders.”

Writing tips: “it is” and “there are” constructions

▪ Not: “It is apparent the impact AI is continuing to have on modern financial markets.”

▪ But: “AI continues to impact modern financial markets.”

▪ Not: “There have been no changes made to the AMT tax laws since 1976”

▪ Congress has not changed the AMT tax laws since 1976.

Writing tips: parallel construction

▪ AI’s current applications in the finance industry include image recognition software, speech and language recognition software, machine learning, deep learning, credit analysis, investment bots, and chatbots. ▪ Machine learning… ▪ Fraud detection… ▪ Deep learning… ▪ Robo-advisors and chatbots…

Writing tips: prepositional decay

▪ Not: “These trends show that companies have not recognized the importance of disclosure of executive compensation.”

▪ But: “These trends show that companies have not recognized that disclosing executive compensation is important.”

▪ Not: “Rule 102 in the Code of Professional Conduct published by the AICPA…”

▪ But: The AICPA’s Code of Professional Conduct Rule 102…”

Writing tips: Specific vs. general or vague

▪ Not: “There are many factors that get added into the equation when performing the accounting for…”

▪ But: “Three factors impact asset valuation.”

▪ Not: People are influenced by social biases such as gender, race, etc.

▪ But: People are influenced by social biases such as gender and race.