What's new on CFOdirect - Week of June 26, 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 and reporting 

Flashline: A weekly update on financial reporting - June 26, 2014
This week's topics include:
- Participate in the PwC/FEI revenue recognition survey
- New entertainment and media industry supplement to In depth on final revenue recognition standard
- The quarter close - Directors edition
- Family Business Corporate Governance Series: What is a board's role in a family business?
- FASB meetings and project updates
- SEC adopts cross-border security-based swap rules
- CAQ releases findings on its field testing of the PCAOB's proposals for changing the auditor's reporting model
- CAQ issues highlights of March 21 meeting of SEC Regulations Committee
- SASB provisionally releases sustainability accounting standards for the non-renewable resources sector
- IASB to form transition resource group for impairment of financial instruments
- IASB vice-chairman discusses the future of financial reporting
- IASB Update - June 2014

Revenue recognition

Participate in the 2014 Revenue Recognition Survey
The Revenue Recognition standard will affect nearly all companies on some level. What level of impact do you expect from the new standard? PwC, along with Financial Executives International and their Financial Executives Research Foundation, are conducting a survey to gauge the impact of the new standard on companies' financials and operations. The survey will also attempt to gauge any concerns companies have with the new standard and / or the transition timeline. Click here to participate in the survey.

New entertainment and media industry supplement to In depth on final revenue recognition standard
Our In depth on final revenue recognition standard summarizes the FASB and IASB's converged standard on revenue recognition, including several industry-specific supplements containing examples and insight on the revenue standard. This week we've released an additional industry supplement focusing on entertainment and media.

Governance

What is a board's role in family business?
More and more family businesses are interested in corporate governance today. Many want to understand the value a board brings, and how to evolve their board to provide that value. This publication is the first in a series about family business corporate governance.

The Quarter close: Directors edition Q2 2014
This quarterly publication is designed to keep directors informed about the latest accounting and financial reporting issues. The Q2 2014 edition focuses on five IPO reminders for boards, FASB's new guidance on discontinued operations, and the Venezuelan exchange rates.

Mergers & acquisitions

The valuation impact caused by changing times: Why economic obsolescence matters for retail companies
Economic obsolescence can become a significant issue when a company has or is acquiring assets - such as store or restaurant locations - that generate separate identifiable streams of cash flows. This publication discusses factors that typically cause economic obsolescence and the potential impact, including illustrative examples and case studies.

Health industries

Medical cost trend: Behind the numbers 2015
The story of 2015 is a nuanced one. At first glance, the health sector appears to be reverting to historical patterns of bouncing back as the nation recovers from the economic doldrums. Whether spending more freely because of the improved economy or shopping with insurance provided through the Affordable Care Act, consumers triggered the first bump in growth in the first quarter of 2014. We expect that to continue through next year.

Webcasts

Webcast: PwC's quarterly tax accounting webcast - Q2 2014 - July 8

PwC invites you to join a panel of our Tax Accounting Services (TAS) specialists for a discussion of relevant tax accounting matters including the indefinite reinvestment assertion, the recently issued revenue standard, as well as regulatory and legislative development updates. 

Webcast: Successful M&A integration: looking beyond the here and now - July 24
The most experienced dealmakers say they know what to do - and are reporting success. Successful integration needs to happen quickly and systematically as the period of time between deal announcement and deal close and the initial period post-close are critical to realizing quick wins and setting the course to deliver deal value over the long-term.

View more upcoming and archived PwC webcasts
 

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