What's new on CFOdirect - Week of August 21, 2014

Welcome to this week's edition of What's new on CFOdirect, PwC's periodic guide to developments in financial reporting, business news, and management issues.

Inside this issue

Accounting & reporting 

Flashline: A weekly update on financial reporting - August 21, 2014
This week's topics include:
- Tax accounting insights: FASB adds income tax accounting topics to its agenda
- Webcast: On the horizon at the FASB - Thursday, September 11
- FASB proposal to shed some light on the accounting for the Cloud
- FAF issues post-implementation review report on share-based payment standard and announces 
  next standard for review
- FASB meetings and project updates
- IASB issues exposure draft proposing amendments to IAS 12, Income Taxes
- PCAOB seeks comments on auditing accounting estimates and fair value measurements
- CAQ issues highlights of the June 25 meeting of the SEC Regulations Committee
- IESBA proposes changes to Ethics Code that addresses long association of personnel with an 
  audit or assurance client
- FAF issues post-implementation review report on GASB Statement 42 and announces next 
  standards for review

Webcast: On the horizon at the FASB - September 11
PwC's National Professional Services Group invites you to attend the On the horizon at the FASB webcast on Thursday, September 11 at 1:00pm. This 90 minute webcast will provide an update on the FASB's current agenda and take a look at where some of the major FASB projects stand.

In brief: FASB proposal to shed some light on the accounting for the Cloud
FASB issues exposure draft intended to simplify the accounting for Cloud Computing customers.

Tax
 

FASB adds income tax accounting topics to its agenda
During its Agenda Prioritization meeting on August 13, the FASB added two income tax accounting topics to its agenda as part of its broader simplification initiative.

US Tax Reform: Will possible changes impact your mobile employees?
Lawmakers are eyeing reform of the US tax system, which would affect multinational companies with globally-mobile workforces.

Industrial products

Industrial products second quarter 2014 M&A sector reports
PwC's second quarter 2014 analysis of global merger and acquisition activity in the chemicals, metals, industrial manufacturing, transportation & logistics, aerospace & defense and engineering & construction industries. Each edition includes a review of overall deal activity for the quarter and year-to-date and a summary of large deals.

Insurance

Claim to fame: Positioning the claims function for operational excellence
Improving the insurance customer experience starts with improving the claims process - find out why.

Webcasts


Webcast: Statutory Accounting Update - September 18
In this webcast, Jean Connolly will summarize the recent developments of the short and long-term projects of the National Association of Insurance Commissioners (NAIC) with a focus on decisions reached at the 2014 NAIC Summer National Meeting (August 16-19). The webcast will also highlight the activities of some of the committees, task forces and working groups of the NAIC.

Webcast: Employee Benefit Plans - 2014 Plan Sponsor Update - September 10 
Michele Weldon, PwC's National Employee Benefit Plan Practice Leader, will provide an overview of current developments related to Defined Benefit, Defined Contribution, and Health & Welfare employee benefit plans. This will include an update on recent changes in accounting, auditing and regulatory requirements impacting employee benefit plans.

View more upcoming and archived PwC webcasts


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For our CFOdirect editor: Margie Rizika
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