2013-07-09 AC Insights - Summer 2013

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AC Insights provides audit committee members with a summary of financial reporting developments for public companies using IFRS or US GAAP, how those developments might affect their companies and things they may want to think about.

In this IFRS edition, we outline the new disclosures for year-end financial statements that will require significant efforts by many companies. We also cover certain amendments made to disclosures for impaired assets, a new standard for recognizing government levies and accounting for the novation of certain derivatives. In addition, we have updated the status of the new hedging and revenue standards which have still not been issued and draw your attention to interim developments to accommodate rate regulated activities.

AC Insights Summer 2013 – IFRS Edition (214 KB)
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In the US GAAP edition, we outline the new Accounting Standards Updates issued by the FASB for identifying investment companies subject to specialized accounting requirements and for accounting for companies in liquidation. In addition, we have updated the status of the revenue standards which have still not been issued.

AC Insights Summer 2013 – US GAAP Edition (189 KB)
Download the full PDF.

For more information on any topics, please speak to your PwC engagement team. Our Accounting Advisory Services team would be pleased to discuss with you how they may be able to help your company implement any new IFRS standards.