The quarter close — First quarter 2014

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Quarter close 03/17/2014 by Assurance services
The quarter close — First quarter 2014: Publication and new video perspectives

At a glance

This edition updates you on recent FASB, SEC and other regulatory and corporate governance topics. Learn what's new now, and what to look for in the near future. We invite you to download our Q1 publication and view our new video perspectives.

Video perspectives - First Quarter 2014

New goodwill standard for private companies

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PwC's Kirsten Schofield, John Stieg, and Jim Gazley discuss the PCC's newly issued goodwill standard and navigating the choice to adopt or not.

Determining functional currency

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PwC's Stephanie Stewart, John Bishop, and Michael Yenchek discuss why determining functional currency is fundamental to a company's financial statements and tips for making the assessment.

Gross vs. net revenue determination

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PwC's Jim Gazley, Michael Coleman, and Christopher Williams discuss the complexities of determining gross vs net revenue presentation in today's evolving business environment.

The quarter close gives you a snapshot of the most significant financial reporting and regulatory updates for the quarter, and provides insight into what developments are coming in the near future. Here’s a preview:

Front and center:

  • FASB's recently issued private company accounting alternatives and the benefits and potential pitfalls involved

Accounting hot topics:

  • Evaluating whether a profit-sharing arrangement is equity or a bonus
  • Determining functional currency
  • Identifying participating securities to use in the two-class method of EPS
  • Revisiting guidance for reporting revenue on a gross versus net basis
  • And more

Hot off the press:

  • Multiple FASB decisions affect consolidation guidance
  • FASB changes course on the insurance contracts project
  • And more

And more: Along with the latest regulatory and corporate governance developments, we also discuss the recent EITF decisions.

Also be sure to watch The quarter close video perspectives... In this quarter's video perspectives, we highlight the recent PCC goodwill standard and its impact on companies. We also discuss key accounting considerations to weigh when concluding on gross versus net in revenue reporting. And, we take a look at what companies should consider when determining functional currency for foreign entities.

Download The quarter close: First quarter 2014 to read the full report.

View back issues of The quarter close.