Inside this issue
Flashline: A weekly update on financial reporting - January 23, 2014
This week's topics include:
- Tax accounting insights: How will recently expired US tax provisions affect your financial
- Tax accounting insights: Around the world - When to account for tax law changes
- Webcast: Key considerations for board and audit committee members - January 29
- FASB issues final guidance on reclassification of residential real estate collateralized
loans upon foreclosure
- FASB issues exposure draft on classification of government-guaranteed mortgage loans
- FASB meetings
- Final minutes of the November 14 EITF meeting
The Internal Audit Analytics Conundrum - Finding your path through data
Business development during recent decades has involved extensive use of technology designed to drive business competitiveness and expand new business horizons. Integrating data analytics into your Internal Audit approach can help you achieve your audit objectives in a more reliable and cost-effective way. This white paper highlights what Internal Audit can be doing to help utilize analytics across their audit plan.
Being prepared in a hot IPO market (Observations from the front lines)
Strong demand for IPOs continued in the fourth quarter of 2013, capping a robust year for the capital markets and setting the stage for continued growth in 2014. The window for raising capital in a robust IPO market tends to open with bursts of popularity then close quickly. This requires a constant state of readiness for the required IPO document that is filed with the SEC. Don't let unforeseen financial reporting items be the road block to accessing the IPO markets.
How will recently expired US tax provisions affect your financial statements?
A number of widely relevant US tax law provisions affecting businesses expired on December 31, 2013. That includes the research and development tax credit, work opportunity tax credit, increased expensing and bonus depreciation allowances, and certain favorable 'subpart F' provisions (i.e., the look-through treatment of payments between related controlled foreign corporations and exceptions for certain active financing income). The financial reporting implications of the expirations should be kept in mind both for calendar year-end and interim-period financial statements.
Around the world: When to account for tax law changes
Keeping track of tax law changes around the world has increasingly become a challenge for businesses. Companies are rapidly expanding their geographic footprint at a time when the evolution and developments in jurisdictional tax laws are undergoing nearly constant change. This second edition of our publication Around the world: When to account for tax law changes has been updated to include information on 48 additional jurisdictions, including three US states. It also reflects any changes in our understanding of the lawmaking processes of jurisdictions presented in the original edition.
Navigating a path forward: 2014 Tax Legislative Outlook
PwC's Washington National Tax Services (WNTS) offers a preview of the key tax policy issues facing the Obama Administration and Congress, including the outlook for comprehensive tax reform, federal spending, the future of expired business tax provisions, the G20 and OECD efforts on base erosion and profit shifting (BEPS), and other tax policy matters of importance to today's business leaders.
Banking and capital markets
Return to spender: How financial institutions can better understand their IT investments and get more out of them
Financial institutions have spent heavily to improve their technology capabilities but are still left questioning the value they are getting from IT.
Webcast: Aligning your GRC solution with the revised COSO Internal Control-Integrated Framework - January 28
On January 28, PwC's Risk Assurance Group invites you to attend this webcast to learn how to improve the alignment of your GRC Solution to the updated COSO Internal Control Framework.
Webcast: Key considerations for board and audit committee members - January 29
On January 29, Mary Ann Cloyd, Leader of PwC's Center for Board Governance, and Tim Ryan, PwC Vice chair and Leader of Markets, Strategy, and Stakeholders, will lead the Center for Board Governance "Key considerations for board and audit committee members" webcast. This webcast will focus on what issues are top of mind for board and audit committee members and will address the regulatory environment, financial reporting developments, cybercrime and board leadership.
Webcast: PwC's Investor Resource Institute megatrends - February 6
On February 6, the PwC Investor Resource Institute webcast will discuss five megatrends that we see shaping the global business environment, and the implications of these macroeconomic forces may have on corporate strategies.
More from CFOdirect Network