How to get it "right!"
Given the greater levels of scrutiny that are being assigned to the role of corporate governance, it should not come as any surprise that the corporate-reporting function is also the subject of heightened interest. This collection of PricewaterhouseCoopers thought leadership offers some new ideas for this on-going responsibility, including ways to create competitive advantage via enhanced reporting, as well as an examination of what PricewaterhouseCoopers calls “integrity-driven performance.”
A sustainable framework for achieving transparency in the health industries - April 2007
Transparency is having a transformative effect on the health industry. This report looks at transparency from three separate viewpoints: the health industry, government and non-health sectors, such as transportation and financial services. Understanding the power of transparency from these different viewpoints will be important as organizations traverse the future.
US corporate governance: Current developments for directors - Feb 2007
This guide focuses on three concerns for directors: the call for transparency of information delivered to shareholders; the growing pressures on director accountability for certain key processes and decisions; and the need to address and satisfy multiple constituents inside and outside the company.
XBRL: Improving Business Reporting Through Standardization - June 2006
This white paper published by PricewaterhouseCoopers' Global Technology Center provides a discussion of the benefits of XBRL, its impact on the corporate reporting supply chain, an overview of the various components of the standard and how it works, status of global adoption, and status of XBRL-enabled software, as well as an interview with PwC's Mike Willis, a founding chairman of XBRL International.
Interactive data in the mutual fund industry: Your questions answered - June 2006
From recent remarks made by SEC Chairman Chris Cox in the past 6 months, it is clear that the SEC is striving to enhance the transparency of information contained in corporate reports, therefore making mandated disclosures more useful to investors, and all market participants. "Interactive data" is a means to that end.
Accounting considerations for Winter 2007 - A discussion for the consumer finance industry - December 2006
This publication outlines some of the most timely and relevant accounting and reporting technical issues that are affecting consumer finance companies today. Summarized are a number of key accounting and auditing changes relevant to consumer finance companies' accounting and financial reporting professionals. In addition to technical and financial reporting topics, included is information relating to two areas that while not consumer finance industry-specific, are issues that will most likely impact the financial reporting process: changes in pension accounting and income tax accounting.
2006 wireless industry survey: North America - December 06
This PricewaterhouseCoopers survey is an annual publication that covers the financial and operational reporting policies and practices of wireless telecommunication service providers in the US and Canada. As with past years' surveys the primary goal is to better understand the comparability of financial statements and industry performance measurements reported by wireless communications companies.
IFRS illustrative consolidated financial statements 2006 - November 06
This publication provides a realistic set of financial statements for a corporate entity. Certain types of transaction (such as construction contacts and agriculture) have not been included as they are not relevant to the Group's operations. The example disclosures for some of these additional items have been included in the appendices. Other disclosure items and transactions are included in other publications in the 'Illustrative' series. The 'Illustrative' series includes financial statements for fictional industry-specific entities: banking, insurance, investment funds, and investment property.
Financial instruments under IFRS: Updated publication: Financial instruments under IFRS: Revised IAS 32 and IAS 39 and IFRS 7: a guide through the maze - October 06
This publication provides a summary of revised IAS 32 'Financial Instruments: Presentation' and revised IAS 39 'Financial Instruments: Recognition and Measurement', issued by the International Accounting Standards Board in December 2003. It has been updated (in September 2006) to include the requirements of IFRS 7 'Financial Instruments: Disclosures', issued by the IASB in August 2005 and other amendments made to the revised standards. Issues covered: Scope of the requirements ; Debt/equity classification; Initial recognition and classification of financial assets and liabilities; Derecognition; Subsequent measurement, fair values and impairment; and Hedge accounting.
Lifting the fog accounting for uncertainty in income taxes - July 2006
The complexities of tax laws and their interpretations and varied applications have led to diversity in practice regarding uncertain tax positions. Motivated by the stark divergence in accounting of uncertain tax positions, the Financial Accounting Standards Board ("FASB") released FASB Interpretation No. 48, Accounting for Uncertainty in Income Taxes, and interpretation of FASB Statement No. 109 (FIN 48) earlier this month. Implementing the guidance in FIN 48 will result in a significant shift in many companies' accounting and reporting, and its effects are likely to go well beyond merely changing reported balances in financial statements. The level of implementation effort and need for process changes should not be underestimated, particularly for multinational companies.
