The quarter close: A look at this quarter's financial reporting issues
March 2013
At a glance
This edition of The quarter close highlights current developments in financial reporting, including key standard-setting developments in revenue, financial instruments, and other hot topics, as well as SEC and PCAOB regulatory updates.
Welcome to our current edition of The quarter close. Here's a preview of what you need to know now, and what’s coming in the year ahead:
Front and center. In addition to upcoming leadership changes at the SEC and FASB, standard setting takes the spotlight this quarter. First, find out where the boards landed on transition, effective date, and disclosures for the forthcoming revenue recognition standard. These key decisions bring the boards even closer to a final standard, which could arrive as soon as the second quarter. The FASB also achieved a major milestone by issuing two proposals on financial instruments.
Accounting hot topics. We take a fresh look at timely accounting topics including discretionary accounting changes, share repurchase programs, interim tax reporting, and more. And, we explain the implications of January’s “fiscal cliff” legislation and recent developments in Venezuela.
Hot off the press. The FASB kicked off the year with a number of new proposals. Get the details here. You’ll also want to take note of two final standards effective now: reporting other comprehensive income and a scope clarification for offsetting disclosures.
And more. We explore the impact of the Dodd-Frank Act on non-financial services companies, discuss early trends from the 2013 proxy season, and more.
Download The Quarter close: first quarter 2013 to read the full report.
The quarter close: Fourth quarter 2012
In this quarter's issue, we count down the "Top five" financial reporting themes for 2012, discuss the FASB's new disclosure effectiveness project, explore how US companies are responding to risks related to the Eurozone debt crisis, and provide a preview of our new Guide to Accounting for Financing Transactions. Download The quarter close, Fourth quarter 2012 to read the full report.
Also watch the videos for this Quarter close issue:
Perspectives on key financial reporting issues (full show)
Segment: Top 5 themes for 2012 year-end financial reporting
Segment: Eurozone crisis: How it affects US companies
Segment: Insights into the FASB's project on disclosure effectiveness
Segment: Accounting for financing transactions: PwC's new guide
The quarter close: Third quarter 2012
In this edition, "Front and center" focuses on the SEC's final rule on conflict minerals as well as the FASB's direction on financial asset impairment. "Accounting hot topics" provides an update on health care reform along with several new insights on segment reporting, goodwill impairment, debt restructuring, and income taxes. "Hot off the press" covers several FASB releases during fall.Download The quarter close, third quarter 2012 to read the full report.
Also watch the videos for this Quarter close issue:
Reporting updates on conflict minerals and IFRS convergence
How does IFRS impact M&A?
What does the conflict minerals ruling mean for you?
Where does the IFRS debate stand?
IFRS: Leasing and financial instruments
The quarter close: Second quarter 2012
In this edition, “Front and center” focuses on the JOBS Act as well as the latest updates on standard-setting plans for public and private companies: "Accounting hot topics" covers a range of topics, from an update on the Eurozone to the complexities of “push-down” accounting. “Hot off the press” provides a rundown of the three exposure drafts from the EITF. Download The Quarter close: Second quarter 2012 to read the full report.
The quarter close: First quarter 2012
This quarter starts off the 2012 year with plenty of planned activity including wrapping up the priority standard-setting projects, proposing changes to the auditor's report, and deciding the future of private company standard setting...not to mention the possibility of a proposal on IFRS in the United States.In addition, FASB and IASB joint projects are back in the spotlight as boards make progress on financial instruments. "Hot off the Press" highlights recent FASB releases including balance sheet offsetting disclosures and another proposal for a simplified impairment test. Download The quarter close: First quarter 2012 to read the full report.
The quarter close: Fourth quarter 2011
In this edition, the "front and center" issues surround the European debt crisis, a busy FASB and IASB convergence agenda, proposals for mandatory auditor rotation, SEC views on moving to IFRS, and the emerging debate on private company standard setting. "Hot off the Press" discusses the FASB-issued guidance on goodwill impairment several proposals including the revised revenue recognition exposure draft. "Accounting hot topics" revisits some perennial favorites this quarter including impairment assessments, pension accounting, revenue recognition, and tax disclosures. Download The Quarter close-Fourth quarter 2011 to read the full report.
The quarter close: Third quarter 2011
In this edition, the "front and center" issues surround regulators and standard setters seeking input on a myriad of proposals ranging from key accounting standards to mandatory audit firm rotation. "Hot off the Press" discusses the FASB’s final decisions on goodwill impairment, and summarizes the FASB’s final decisions on multiemployer pension plan disclosures. Dominating news this quarter, "Accounting hot topics" covers the state of the economy and the recent U.S. debt downgrade, and how that impacts financial reporting. Download The Quarter close-Third quarter 2011 to read the full report.