Inside this issue
Flashline: A weekly update on financial reporting - January 30, 2014
This week's topics include:
- Dataline: Implications of recent events in Venezuela - Modifications to SICAD
- Dataline: Assets acquired to be used in research and development activities - AICPA's
Accounting & Valuation Guide
- Dataline: Accounting for investments in qualified affordable housing projects
- Dataline: Accounting for hedging activities - IASB new general hedge accounting requirements
- BoardroomDirect: January 2014
- FASB issues final guidance on service concession arrangements
- FASB votes on new agenda priorities
- FASB meetings and project updates
- SEC staff publishes new compliance and disclosure interpretations
- ASB proposes clarified standards as part of attestation clarity project
- IASB begins public consultation on Post-implementation Review of IFRS 3
- IASB issues interim standard on rate-regulated activities
- IASB Update - January 2014
- PAIB eNews - January 2014
- Appendix: Key dates in February
PwC released the following new Datalines this week:
Dataline: Assets acquired to be used in research and development activities - AICPA issues updated Accounting and Valuation Guide
The AICPA's Financial Reporting Executive Committee (FinREC) recently issued an Accounting and Valuation Guide covering acquired in process research and development assets. The Guide, which is non-authoritative, replaces a 2001 AICPA practice aid on this topic. This Dataline summarizes key aspects of the Guide and offers insights into key challenges you may face.
Accounting for hedging activities - IASB new general hedge accounting requirements
The IASB released new guidance on hedge accounting aligning more closely with an entity's risk management strategies. This Dataline highlights key provisions of the IASB's new guidance.
FASB revises the accounting for investments in qualified affordable housing projects
The FASB issued final guidance which revises the accounting for investments in qualified affordable housing projects. This Dataline provides a summary of the new guidance.
Implications of Recent Events in Venezuela - Modifications to SICAD
In December 2013, the Venezuelan regulation that created the SICAD mechanism was amended to expand its use, and to require publication of the average exchange rate implied by transactions settled in SICAD auctions. This Dataline highlights the key financial reporting impacts of these developments.
You are invited to participate in the PwC Investor Survey Series, Winter 2014
PwC's surveys of the investment community is designed to understand investors' views about how their portfolio companies are managing and reporting on environmental and social risks. Your willingness to take 10-15 minutes to participate in the survey will help ensure the results accurately portray the current level of market interest in these issues, as well as how that interest is likely to evolve over the next three years. The survey will close on February 28. While all individual responses are confidential, a report analyzing the results will be publicly available in the coming months.
BoardroomDirect - January 2014
This issue of BoardroomDirect® includes a Q&A between Mary Ann Cloyd, leader of PwC's Center for Board Governance, and two sitting directors of public companies. They discuss shareholder communication, risk oversight, board diversity, and the role of chair and CEO. The newsletter also reports on the latest challenge to the SEC's conflict minerals rule, the proxy advisor ISS' FAQ on corporate bylaws that disqualify director candidates who receive compensation from activist shareholders, the Council of Institutional Investors' petition to have the SEC adopt universal proxy cards, and the Center for Audit Quality's alert for the 2013 audit cycle.
SEC comment letter trends
Financial Services: 2013 SEC comment letter trends
To help you prepare for your annual reporting, we have compiled and analyzed the SEC staff's comment letters issued over the past few years to registrants within the financial services industry. We have also identified the areas where registrants received the majority of comments and provided sample comments along with highlights surrounding current hot topics. Also included is a discussion of other notable trends related to topics that are specific to the financial services industry as well as historically recurring themes across other industries.
Strategy and operations
17th Annual Global CEO Survey: US Findings
US CEOs are finding reasons to be more confident in many places. At home, the outlook for the US economy is improving. For example, we saw momentum increase in the US deals market over 2013, and business investment is picking up. Find out more in our 17th Annual Global CEO Survey findings.
Technology Forecast: The future of enterprise apps: Moving beyond workflows to mindflows
This issue of the Technology Forecast examines the future of enterprise applications. Emerging technologies, including mobility, cloud, application programming interfaces (APIs), analytics and others are giving rise to the "mindful app". Mindful apps use mindflows to model human thinking within the context of a business process, blending human and software intelligence. Mindful apps empower the human factor and help deliver intelligence in the moment.
Webcast: PwC's Investor Resource Institute - Megatrends - February 6
This upcoming 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.
On demand version: Q4 2013 Current Accounting and Reporting Developments webcast
Did you miss the Q4 2013 "Current Accounting & Reporting Developments" webcast on December 17? If so, you still have an opportunity to view the webcast and earn CPE credit! PwC is offering the Q4 2013 webcast in an on-demand format for your convenience. You can access this on-demand version whenever it works best for you. A post-event questionnaire, when completed, qualifies participants for 1.5 CPE credits (same as the live version).
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