PwC's latest summary of recent developments at the Emerging Issues Task Force (EITF) including links to, and abstracts of, items such as news releases, action alerts, proposed rules, PwC comment letters, final rules, and meeting minutes.
PwC's latest summary of recent developments at the Public Company Accounting Oversight Board (PCAOB) including links to, and abstracts of, items such as news releases, action alerts, proposed rules, PwC comment letters, final rules, and meeting minutes.
PwC's latest summary of recent developments at the Financial Accounting Standards Board (FASB) including the FASB simplification initiative and links to, and abstracts of, news releases, action alerts, proposed rules, PwC comment letters, final rules, and meeting minutes.
In this webcast, we'll discuss how organizations can elevate their internal technology audit functions to the high levels demanded of all key stakeholders and increase their ability to meet the increasing challenges of emerging technology risks.
Our podcast series features PwC professionals sharing perspectives on today’s key regulatory, accounting and financial reporting developments. Episodes include topics on cross border acquisitions, revenue recognition, consolidation, segment reporting, and more.
Please join us for our quarterly webcast designed to address technical accounting issues impacting technology companies. In this webcast, PwC Technology and National Office practitioners will discuss CEO pay ratio, pay for performance, executive compensation clawbacks. equity method accounting and more.
This issue of BoardroomDirect® includes an article on what compensation committees can expect from the SEC’s proposed Dodd-Frank executive compensation disclosure rules. There is also news about recent publications from the SEC and Council of Institutional Investors on proxy access, ISS’ 2016 proxy season voting recommendation survey, comment letters on the PCAOB’s proposed audit engagement partner form, a court decision regarding part of the conflict minerals disclosure rule, and the IASB’s amendments to the revenue recognition standard.
This edition provides a snapshot of key shareholder voting metrics from 4,280 U.S. public company annual shareholder meetings held between January 1, 2015 and June 30, 2015 and a wrap-up of the 2015 proxy season. Among the highlights: Of the over 80 proxy access proposals that came to a vote, 70% received the majority support of shareholders, averaging 57% of the shares voted, and shareholder support for say-on-pay strengthened this season, with 90% of proposals attaining support of at least 70% of the shares voted.
US venture capital funding for the life sciences sector, which includes biotechnology and medical devices, increased 21% by value, but declined 2% by volume, on a year-over-year basis during the second quarter of 2015. Venture capitalists invested $3.1 billion in 201 life sciences deals in the second quarter of 2015, compared with $2.6 billion in 205 deals during the same quarter of 2014. Also, significant to note, Biotech investment was the highest since the start of the MoneyTree data series in 1995.
IFAC’s mission is to serve the public interest by contributing to the development, adoption and implementation of high-quality international standards in auditing and assurance, public sector accounting, ethics, and education for professional accountants.
The Auditing Standards Board (ASB) is the AICPA’s senior committee for auditing, attestation, and quality control applicable to the performance and issuance of audit and attestation reports for nonissuers. The ASB promulgates Statements on Auditing Standards (SAS), Statements on Standards for Attestation Engagements (SSAE) and Statements on Quality Control Standards (SQCS), and, as a part of its due process, releases Exposure Drafts of proposed standards.
This webcast will discuss the key concepts within journal processing and workflow in PeopleSoft, how users are able to bypass intended controls to create manual journals, and ways to close loopholes that allow users to circumvent PeopleSoft controls.
This issue of IFRS news includes the following topics: (1) proposed amendment to IFRS 15, Revenue recognition, (2) Exposure Draft proposing amendments to IAS 19 and IFRIC 14, Pension accounting, (3) TRG continues to debate implementation issues related to the new revenue standard, (4) Insurance and IFRS 9, (5) IFRS implementation issues, (6) Fair Value Measurement, (7) IFRS 3 post implementation review, (8) Financial Instruments with characteristics of equity, and (9) IFRIC rejections related to IAS 2.
In this latest PwC’s Deals Practice webcast series on IPOs, we review the current IPO market and technology industry market conditions, examine technology industry IPO landscape, trends and issues, and discuss common accounting and financial reporting issues for technology companies as well as broader areas of focus in IPO preparation, such as governance, human resources, internal controls and taxes.
PwC and the National Association of Stock Plan Professionals (NASPP) are pleased to release the 2015 Global Equity Incentives Survey (GEIS) Executive Summary. Our survey is one of the most comprehensive studies available on the design and administration of equity incentive compensation plans for multinational companies.
Tax leaders need to ensure that the company’s tax department is positioned to meet tomorrow’s global tax reporting and planning landscape. Join us as we discuss future challenges and rethinking the objectives, processes, and resources of the tax function.
PwC's latest summary of recent developments at the Securities and Exchange Commission (SEC) including links to, and abstracts of, items such as news releases, action alerts, proposed rules, PwC comment letters, final rules, and meeting minutes.
The IASB is the independent standard-setting body of the IFRS Foundation responsible for the development and publication of IFRSs and for approving Interpretations of IFRSs as developed by the IFRS Interpretations Committee (formerly called the IFRIC). Get PwC's latest summary of recent developments at the International Accounting Standards Board (IASB).
PwC's latest summary of recent developments at the American Institute of Certified Public Accountants (AICPA) including links to, and abstracts of, items such as news releases, action alerts, proposed rules, PwC comment letters, final rules, and meeting minutes.
The FASB's active standard setting means it is more important than ever to know which standards are effective when. Here we provide effective dates for the FASB's recently released guidance, segregated between public companies and nonpublic companies since that designation results frequently translates into a different effective date.
This issue continues to build on the theme of investing globally, and features an article that discusses the flow of capital into US markets from foreign investors. In “The New Sources of US Real Estate Capital”, Jack Keating discusses which nations have been investing in the US markets and the challenges these investors face as they increase their allocations to US markets.
In this webcast, Private Company Services partners Jay Mattie and Alfred Peguero will lead a conversation with Carolyn Wente, CEO of Wente Vineyards. This webcast will cover a broad range of topics important to all family-owned businesses including governance, succession planning, growth and sustainability.
This week's PwC update on financial reporting developments includes: The quarter close: Segment reporting: determining operating segments... Q3-2015 Current Accounting and Reporting Developments... and more
The application of the guidance contained in ASC 718, Compensation—Stock Compensation, continues to be a complex undertaking. The guidance's many nuances impact not only the accounting for employee stock-based compensation, but also the related corporate income tax accounting, the calculation of earnings per share, and the presentation of the cash flow statement. The 2013 second edition of our stock-based compensation guide explains those and many other issues.
This issue of BoardroomDirect® includes an article on how audit committees can deal with internal investigations. There is also news about the SEC proposing clawback policy rules and a concept release on audit committee disclosure, the PCAOB seeking comment on audit quality indicators, the FASB officially delaying the new revenue recognition standard for one year, and a report on how risk culture oversight is the next board frontier.
This study highlights recommendations PwC provided the White House on the key attributes Information Sharing and Analysis Organizations (ISAOs) should have to succeed. It is based on analysis of a half-day summit PwC hosted in April 2015 with participants from the private sector, government, think tanks, and academia, and on subsequent interviews with private and public stakeholders. The focus of the paper is on those areas that need prompt deliberation and agreement. Much progress has been made, but much work remains.
This survey presents our analysis of the 2014 year-end assumptions and disclosures under ASC 715-20, ASC 715-30, and ASC 715-60 for 100 companies, comprising Fortune 100 and other large and established companies.
Tax rate benchmarking can be an enormously valuable tool for tax executives determined to generate greater value from their tax departments. Assessing tax 2015 not only provides peer group comparisons for improvement in planning and shaping the tax function, it helps you to gain meaningful insight into sector trends to support business growth.
In this episode PwC's Angela Fergason, Dusty Stallings and Brett Cohen, provide an overview of the Transition Resource Group and discuss a recent FASB proposal addressing licenses of intellectual property and how to identify performance obligations.
This week's PwC update on financial reporting developments includes: FASB finalizes one-year deferral of the new revenue standard... New non-profit reporting standard may mean big changes on the horizon... and more
As part of our continued effort to help organizations navigate through the complexity of today’s tax accounting issues, we've assembled a compilation of our Tax Accounting Services’ publications released between February and June 2015.
The 2013 update to the COSO Internal Control Integrated Framework, authored by PwC, helps refresh internal controls for today's environment. Visit our COSO page for links to PwC videos and key documents from the COSO organization on internal control, enterprise risk management (ERM) and fraud deterrence.
PwC’s Cloud Assurance practice applies a cloud lifecycle approach using the customer’s cloud services. This approach enables comprehensive cloud security and risk management across the enterprise’s own business workflow.
This edition provides a snapshot of key shareholder voting metrics from 2,082 U.S. public company annual shareholder meetings held between January 1, 2015 and May 15, 2015. This season has been characterized by an uptick in many forms of shareholder activism including several high profile proxy battles, an increase in “Vote No” and “Vote Yes” campaigns, and a wave of shareholder proposals for proxy access.
The FASB and IASB have released their converged revenue recognition standard, Revenue from contracts with customers (ASC 606). PwC provides details on the new revenue accounting standard and the business implications for companies and industries on all revenue transactions as they prepare for implementation of the new standard.
This webcast covers FASB standard setting developments that have occurred since our April webcast. We provide a refresher on accounting for various debt transactions as well as highlight new guidance in this area. We also cover developments related to FASB projects impacting not-for-profit entities, including the not-for-profit financial statement project.
This week's PwC update on financial reporting developments includes: SEC proposes Dodd-Frank clawback rule... BoardroomDirect – June 2015 edition... Participate in the PwC/FERF revenue recognition implementation survey 2015... and more
For private equity portfolio companies, the new revenue recognition standard could change a number of key financial metrics and ratios, including EBIDTA, which could have a "knock-on" effect on other areas of the business. Private equity deal professionals will need to pay close attention to the new standard's impact on due, diligence, investment and exit strategies.
The U.S. IPO market came back to life in the second quarter of 2015, surging 83 percent in volume and 111 percent in proceeds raised, compared to the first quarter of 2015, according to IPO Watch, a quarterly survey by PwC US.
The FASB and IASB have issued their long-awaited converged standard on revenue recognition. How will you be affected? This industry-specific supplement to our In depth publication highlights some of the areas that could create the most significant challenges for insurance intermediary as they transition to the new revenue standard.
Succession planning’s goal is to provide the least amount of disruption to your business and to give you the widest possible choice of qualified candidates before you make that decision. While the process may consider candidates from outside the family and the company, in many cases it focuses on managers who are already with the company. This publication is the third in a series about family business corporate governance.
In today's M&A environment, the quest to solidify leadership positions and build on core capabilities has created a growing appetite for transformational deals and put corporate acquirers on the offensive. M&A value is at the highest level in recent history and continues to rise. In this recorded webcast replay, we' discuss topics such as how to evaluate megadeals and consider the value creation potential inherent in such deals.
Watch a replay of our recorded webcast in which the Honorable Dave Camp, PwC's Senior Policy Advisory and Former Chairman of the House Committee on Ways and Means, and Scott McCandless of PwC's Washington National Tax Practice, discuss the current tax state-of-play and the outlook for the second half of 2015 in the midst of all the change and challenges.
This issue of BoardroomDirect® includes an article on how two audit committee members view two new publications on audit quality and assessing external auditors. There is also news about the SEC considering a clawback policy rule, Delaware approving a bill that bans fee-shifting bylaws, about two-thirds of proxy access proposals have received majority support, two former SEC chairs back proposal to disclose political spending, and the PCAOB seeks input on auditor’s use of work of specialists.
The FASB and IASB did not converge on financial instruments. The FASB has substantially completed deliberations on its financial instruments - classification and measurement project and has issued an exposure draft of proposed disclosures for hybrid financial instruments with bifurcated embedded derivatives. The IASB issued IFRS 9 Financial Instruments which replaces most of the guidance in IAS 39 and includes a new model for classification and measurement of financial assets and impairment.
This week's PwC update on financial reporting developments includes: In brief: Financial and nonfinancial hedges: Significant changes to be exposed... In depth: Investments using NAV practical expedient removed from fair value hierarchy... FASB meeting... and more
Global companies investing in the United States face unique opportunities and challenges. Doing business in the US reviews the key tax issues and provides insights to help investors navigate the US business environment.
Our VIE guide, updated June 2015, brings together all of the relevant PwC guidance on the accounting for variable interest entities under US GAAP; provides an overall framework for the application of the VIE model; highlights key questions and answers; and offers our perspectives, based on our analysis of the guidance and experience in applying it.
The overall accounting model for income taxes has been in place for many years, yet the accounting for income taxes (ASC 740) continues to pose many challenges for preparers, users, and auditors. This PwC guide is intended to clarify the fundamental requirements involved in the accounting for income taxes and to highlight key points that should be considered before and after transactions are undertaken.
The PwC Rx Marketplace Quarterly features a wide range of financial reporting developments, accounting and tax developments, regulatory updates and general industry trends impacting the pharmaceutical and life sciences industry.
This edition addresses key considerations related to the committee’s role in investigations. It addresses how adequate preparation can make a big difference, including capturing allegations; lining-up the right external advisors; and potentially developing relationships with certain regulators. It also discusses making decisions when an allegation surfaces, performing an investigation, and responding after an investigation.
On July 1, the FASB launched the FASB Accounting Standards Codification as the single source of authoritative nongovernmental U.S. GAAP, combining and replacing the jumbled mix of accounting standards that have evolved over the last 50+ years. The FASB's
PwC's Center for Board Governance invites you to watch a replay of our special ProxyPulse webcast recording, presented in conjunction with Broadridge, analyzing proxy voting data. The webcast covers recent trends regarding share ownership composition, voting rates, director elections, say-on-pay, and proxy access.
This week's PwC update on financial reporting developments includes: The quarter close – Second quarter 2015... Regulatory and standard setting developments - June 2015... In depth: FASB issues enhanced disclosure guidance for insurer claim liabilities... and more
Foreign currency volatility is impacting companies across all industries. PwC’s Valerie Wieman and John Horan discuss the driving forces, risk management hedging strategies, and disclosure considerations.
This edition features recent business, FASB and regulatory developments, including mitigating foreign currency volatility, the SEC's pay-for-performance proposal, developments in the new revenue recognition standard, US GAAP accounting simplifications, and more.
This edition of PwC’s Retail and Consumer Insights series focuses on the financial performance of consumer packaged goods (CPG) companies in 2014. In this report, we discuss how the economy impacted retailers and CPG manufacturers, and provide detailed financial benchmark analyses.
In the wake of an extended period of financial challenges, airlines stand to gain significant benefits from unexpected periods of reduced fuel prices, which in the short term have resulted in increased profits. How are airlines responding? And what are the long-term implications?
Analyze key metrics in the global airline industry and forward-looking perspectives on emerging industry trends. Our latest report also considers how airlines are managing growth in the rapidly expanding aviation industry.
This week's PwC update on financial reporting developments includes: Fair value - The audit committee's role... Accounting blog: Disclosing disposals - The challenges of subjective judgments... and more
The FASB's framework for Accounting for Fair Value Measurement (ASC 820) continues to challenge preparers, particularly with regards to the latest disclosure requirements from the 2011 amendment. PwC provides helpful publications and guides to assist users in this challenging area.
See highlights from PwC's Transaction Services valuation summary for the Automotive industry, which include trends in market multiples, related transaction, and transaction benchmarking analysis summarizing the average allocation of intangible assets and goodwill observed.
Spending growth in the $2.9 trillion US health economy is expected to slow in 2016 as compared to 2015, but it will still outpace overall economic inflation. Stock prices, earnings reports and the customer base have increased and that means the industry is financially healthy. Affordable healthcare, however, remains out-of-reach for many consumers.
Watch a replay of our recorded webcast in which we discusses how the real estate industry may be impacted by the recently issued ASU 2015-02, Consolidation – Amendments to the Consolidation Analysis. Speakers provide an overview of common structures found in the real estate industry and discuss how the amendments will impact those structures.
US capital funding for the Life Sciences sector, which includes biotechnology and medical devices, increased 34% in value and 4% in volume during the first quarter of 2015. Venture capitalists invested $2.2 billion in 193 life sciences deals in first quarter 2015, compared with $1.6 billion in 186 deals during the same quarter of 2014. Also, significant to note, Biotech investment during the quarter was the strongest first quarter for biotech since the start of the MoneyTree data series in 1995.
This edition explains why a properly defined role, the right composition, and self-assessments are critical to audit committees. The publication specifically addresses the current challenge facing audit committees to evaluate whether the scope of their responsibilities is workable, desirable attributes for committee membership and best practices for committee evaluations.
The FASB and IASB have issued their long-awaited converged standard on revenue recognition. How will you be affected? This industry-specific supplement to our In depth publication highlights some of the areas that could create the most significant challenges for mining entities as they transition to the new revenue standard.
The Center for Audit Quality is dedicated to enhancing investor confidence and public trust in the global capital markets. The CAQ has standing committees and task forces that each have a different role in enhancing the quality of public company auditing and financial reporting, including Professional Practice Executive Committee (PPEC); SEC Regulations Committee; International Practices Task Force; and Smaller Firm Task Force.
This issue of BoardroomDirect® includes an article on how boards and management can address the strategic development and execution gap. It includes insight from Strategy& CEO Cesare Mainardi, who discusses the capabilities-driven strategy approach that can help companies get out of the “firefighting” mode some have been stuck in as they deal with crises. The article also includes a link to Strategy&’s surveys and PwC’s 2014 Annual Corporate Directors Survey.
This issue features an article that expands on the trend of US investors deploying capital in foreign markets, as well as the effect of changing demographics on the real estate investing landscape. In “Real Estate: Building the future of Africa,” Ilse French discusses how certain demographic, economic, and political trends in Africa may impact opportunities for real estate investors.
Companies today need speed, agility, and adaptability to keep up with rapidly changing technologies, evolving customer needs, increasingly globalized businesses, intensifying regulatory pressures and fast-shifting business models. Continuous monitoring and testing is designed to give management day-to-day assurance into the company’s controls and compliance environment. Learn more about the benefits of pursuing an advanced managed monitoring and testing solution in PwC’s report.
When it comes to making your most important business decisions, there are a plethora of factors to consider. Many company leaders probably rely on gut instinct to guide them—what we think of as the ‘art’ of strategic decision making. But what about the ‘science’ side of the equation, data and analytics? We believe superior decision making—done with confidence, clarity, and agility—is only possible through a new combination of art and science.
Insurers are upgrading their technology to support more complex products, lower operating costs, and get closer to their customers. But they can do more harm than good when they make changes that alienate their independent agents. We’ve identified five steps that can help insurers engage agents early and create a transition plan that meets agents’ needs—converting these important stakeholders into enthusiastic advocates.
In this replay of our recorded webcast, we discuss critical issues of board composition and discuss how boards can address investor governance concerns including independent director industry expertise and other director skill sets, diversity, board evaluations, tenure and refreshment.
Everyone in the capital markets these days is rethinking collateral management. The sell side, the buy side, market utilities, and regulators all want to make the most of it as they strive to reduce risk and boost liquidity. The rewards are significant, but so are the costs and risks. Financial institutions need a strategic approach that optimizes capital, integrates operations, and is enabled by straight-through processing technologies.
Overall deal value started strong in Q1 '15 despite volume at its lowest point in two years. Although it may be too soon to tell which direction deal volumes will trend in the remainder of 2015, we remain optimistic and expect M&A will continue to be robust for the sector. And with the abandonment of one transformative Cable deal, rumors are swirling about potential deal partners. In this issue, PwC provides a summary of first quarter 2015 deal activity, megadeal activity and an outlook for key sectors.
Watch a replay of our recorded webcast in which we discuss valuation and impairment trends in the energy sector, including key assumptions, inputs and other considerations used by many energy companies in assessing long-lived assets for impairment.
In a time of heightened risk and increased scrutiny over regulatory compliance, a dedicated Ethics and Compliance function can be an asset to tech companies, while supporting their strategic agendas. By empowering an Ethics and Compliance function, and a proactive approach, technology companies can promote collaboration and integration, boost process efficiency, reduce gaps and redundancies, and proactively deal with the compliance implications inherent in new products, new geographies, and other business changes.
In this webcast, we discuss the 5 key themes of this year's 2015 State of Compliance survey report, Moving beyond the baseline: Leveraging compliance to gain competitive advantage. Insights focus on the current challenges that chief compliance officers and chief ethics and compliance officers (collectively, CCOs) face and how they can expand their roles to become partners to the business, contributing actively to the organization’s strategy and direction.
Corporate leaders experienced in mergers and acquisitions are well aware of the risks that come with transactions of all sizes. Many have honed deal-related processes and playbooks that serve them well when executing relatively small to midsized deals. However, we have observed that megadeals in the technology sector pose a unique set of challenges. They thus create barriers to success that are often unfamiliar even to executives with significant acquisition and integration experience.
This week's PwC update on financial reporting developments includes: PwC comments on deferral of the effective date of the new revenue standard... IASB proposes enhancements to the conceptual framework for financial reporting... and more
What are the latest comparable statistics for mergers and acquisitions and active trades in the financial services industry? Check out PwC's quarterly valuation summaries for the Banking, Insurance and Asset Management sectors. Insights include: trends in market multiples, related transactions, and transaction benchmarking analysis.
The accounting and reporting guidance around benefits and compensation continues to evolve. In an effort to keep you apprised of the on-going changes and updates, we are pleased to invite you to watch a replay of our recorded quarterly webcast series, designed for corporate financial reporting and HR executives.
Join Dusty Stallings, Partner in PwC's Capital Markets & Accounting Advisory Services practice, along with a panel of revenue specialists for a candid conversation on June 26, 2015, regarding recent updates and how your company should be preparing for the transition.
The first quarter maintained the momentum seen over the past several years, albeit a decline from the peaks witnessed at the end of 2014. With a clear return toward the middle market, deal volumes were prominent but megadeals were scarce, resulting in a noticeable decline in total value.
The FASB and IASB have been jointly deliberating insurance contract accounting with a goal of issuing a single, high-quality global standard on insurance contract accounting. CFOdirect offers a roundup of PwC’s reports and insights on the insurance contracts project.
The FASB and IASB have issued their long-awaited converged standard on revenue recognition. How will you be affected? This industry-specific supplement to our In depth publication highlights some of the areas that could create the most significant challenges for health care services entities as they transition to the new revenue standard.
This week's PwC update on financial reporting developments includes: The quarter close: Equity method accounting — assessing significant influence... Health care services industry supplement on new revenue recognition standard... and more
FASB recently made amendments to retirement benefit accounting guidance to provide a practical expedient for employers when determining the benefit plan measurement date under ASC 715 in certain circumstances.
Insurers currently use a variety of different and largely inconsistent local approaches to measure the value of insurance contracts within their statutory financial statements. This diversity makes it difficult to compare companies and may fail to reflect the true economic value of insurance business, which can put insurers at a considerable disadvantage when competing for capital.
PwC’s Trends in People Analytics report highlights our recently published 2015 PwC Saratoga US benchmark data, as well as the implications for people analytics functions and key trends for consideration.
In this webcast, turnaround and bankruptcy professionals from PwC's National Office and the Deals practices discuss key considerations for companies in distress, including executing a successful turnaround, the bankruptcy filing and reporting process, and emerging from bankruptcy. Watch a replay or participate in our on demand (CPE-eligible) version.
Are third parties worth the risk for financial institutions? It’s a multibillion-dollar question when every week, yet another business interruption, data breach, or compliance failure seems to surface in the news. We believe the answer is “yes”—provided a firm takes the right approach to risk management. Ultimately, a robust third party risk management program may even make using third parties less risky than keeping those functions in-house.
The nation’s healthcare payment system is an artifact of an earlier age, focusing for decades on perfecting business-to-business functions. American consumers were patients, not purchasers.This is changing rapidly as individuals shoulder more of the cost of their own care. The healthcare billing and payment model must change as consumers demand systems that reflect the mobile, one-click reality of their lives.
The year is off to a rapid start with deal volume and disclosed value up 19% and 92%, respectively, in Q1 2015 compared to the first quarter of 2014. The most notable sectors were Managed Care, Behavioral Health and Rehabilitation, Physician Practice, and Private Equity while Home Health, Hospitals, and Labs, MRI, & Dialysis lagged behind.
In this webcast, we discuss the key findings from a new report on the future of healthcare payment and billing by PwC's Health Research Institute. To create a roadmap for a new consumer healthcare payments system, HRI commissioned a survey of 1,000 US adults and analyzed commercial claims from 34 million Americans in the Truven Health MarketScan® 2012 commercial claims database.
An unprecedented wave of privacy fines, penalties, and settlements has thrust data privacy onto the agenda of corporate boards across all sectors and regions. In this recorded webcast, PwC presenters summarize the discussions occurring among corporate boards and executive teams and forecast enforcement trends for the coming year.
This week's PwC update on financial reporting developments includes: FASB proposes first set of amendments to the new revenue standard... Private company services webcast... IFRS news - May 2015... and more
The accounting for business combinations (ASC 805), discontinued operations, divestitures, intangible assets, impairments and segment reporting continue to pose many challenges and remains on the SEC's radar screen. PwC provides the latest developments in these and other business combination accounting topics.
Most sell-side financial institutions have sacrificed a coherent IT architecture in favor of speed to market. However, can a firm justify a growing web of applications, tangled in expensive interfaces, now that it’s easier to untangle the mess? In this report, we identify leading application features that can help firms shift to simpler, more integrated IT platforms. We analyze these features across critical functional areas and show how IT executives can make the business case for change.
Today's tax functions are facing pressure to stay compliant, provide global transparency and manage risk, leaving little time for tax to focus on strategic planning. Rewatch this recorded webcast, in which PwC Tax leaders discuss the vision for future tax functions in regard to regulation, risk, data, technology, process and people.
This issue of IFRS news looks at (1) IASB propose to defer effective date of IFRS 15, (2) IASB research project gains steam, (3) Disclosure initiative, (4) Annual improvements, (5) Fair value of quoted instruments, and (4) Q&As: ‘Z’ is Zoos and IAS 41.
The OECD’s base erosion and profit shifting (BEPS) project is likely to spur the most significant changes to the taxation of international business in nearly 30 years. Multinational companies may see an increased tax burden around the world, and there’s a strong likelihood that rule changes will affect the optimal structure for your global operations. Over the next several years, BEPS-related law changes likely will cause your company to see upward pressure on effective tax rates and cash tax outlays. While the OECD BEPS project will be finalizing recommendations through December 2015, some countries have already begun implementing changes to their tax systems. Companies will need to begin assessing the impact on business operations now.
This PwC National Professional Services Group webcast discusses key considerations related to private company accounting for acquisitions, dispositions and debt transactions, focusing on the areas of accounting that are often challenging to pin down. Watch a replay or participate in our on demand (CPE-eligible) version.
M&A activity in the aerospace and defense sector is off to a strong start in 2015 with deal value increasing on both a quarter-over-quarter and annual basis. The largest A&D deal since sequestration was recorded in Q1.
The enactment of the Chief Financial Officer’s Act (CFO Act) of 1990 and the Government Management Reform Act (GMRA) in 1994 opened a new era of financial management in the Federal government. These two laws meant that Federal Executive Agencies were required by law to prepare financial statements and have them audited by independent auditors. PwC has provided extensive internal control assessments and CFO Audit Act implementation support for two decades. We have served a number of Federal Executive Agencies by helping them succeeded with audit readiness efforts and achieve a sustainable audit opinion.
The European high-yield debt market has seen tremendous growth since the 2008 financial crisis. Prior to 2008, most European issuers with non-investment grade credit ratings obtained financing privately from banks rather than issue debt on public markets. That pattern has changed dramatically, however. More stringent capital requirements under Basel III have prompted European banks to reduce their corporate lending, forcing many lower-rated companies to borrow on public markets for the first time
Today’s trading is complex and frequently involves little human intervention. Five years after the "Flash Crash," do you know how high frequency trading and dark pools work? Our new report separates fact from fiction.
The FASB and IASB have issued their long-awaited converged standard on revenue recognition. How will you be affected? This industry-specific supplement to our In depth publication highlights some of the areas that could create the most significant challenges for power and utilities entities as they transition to the new revenue standard.
This week's PwC update on financial reporting developments includes: In the loop: Shareholder activism — are you prepared to respond?... Accounting blog: Currency volatility — reduce uncertainty in an uncertain world... and more
US oil and gas deal-making stalled during the first quarter of 2015 as oil price volatility created uncertainty in the industry and pushed buyers to the sidelines. PwC's Oil and Gas Deals practice invites you to watch a replay of our webcast to learn about deals trends in oil and gas.
Are there really differences in how male and female directors approach their oversight roles? And, do the practices of boards with female directors vary from those of other boards? This report addresses these questions by looking at what male and female directors told us about their individual perspectives and the boards on which they serve.
In this issue of The Bit, we provide energy company executives and board members an overview of the main elements of the new standard, including differences from prior guidance with an emphasis on important considerations for energy companies.
The pharmaceutical and life sciences (PLS) industry saw an astronomical increase in deal value, as compared to previous quarters and the entire year of 2014. In Q1, there were 35 deals completed, representing deal value of $166.3 billion, a value higher than 2014 total deals alone. In our market spotlight, we take a look at Japan, a country that is facing dynamic changes in the marketplace as medical costs are becoming an increasing focus of the Japanese Government. Additionally, as there are transformational shifts within the PLS and healthcare industries, PwC shares insights on the new era of the “New Health Economy”.
This recorded webcast explains how to address the demands of customers and regulators around PHI, and discusses the latest privacy, security, and third party reporting trends impacting organizations that operate in the healthcare spectrum.
In this year’s study of more than 1300 chief audit executives (CAEs), internal audit managers, members of senior management and board members, PwC discusses the concept of True North, a set of ideals used to guide an organization from its current state to where it wants to be.
Sophisticated rating capabilities are rapidly becoming the new normal for P&C carriers. Today’s rating solutions provide advanced usage-based models and other analytics that can help carriers thrive in a market being transformed by telematics and new pricing strategies. But many carriers have stumbled on the path to modernization. We explore the most common challenges, and discuss four steps carriers are taking to make the most of their rating modernizations.
This issue of BoardroomDirect® covers preparing for shareholder activism. There is also an update on 2015 proxy access proposals, and discusses pension funds asking for board diversity disclosure, as well as BlackRock and Vanguard addressing corporate governance matters. Lastly, this edition touches on the one-year deferral FASB proposal for the new revenue standard.
Optimism in the economy is up among private companies, as is projected revenue and hiring. And the number of such businesses reporting increased profitability is the highest in a decade. But ongoing talent shortages could be a drag on growth, and the global economy doesn’t inspire tremendous confidence, except for key emerging markets. Read our survey report to hear what else is on private companies' minds.
Consumer sentiment continued its upward trend in the first quarter of 2015, reaching a ten-year peak due to more favorable prospects for the domestic economy, including gains in employment and incomes, as well as declines in gas prices.
PwC invites you to watch a replay of our webcast, Comperio is now Inform. Our presentation features PwC professionals from the National office discussing the move from PwC's current accounting and auditing research library to the new tool called 'Inform'.
PwC’s Deals Practice invites you to watch their recorded webcast, focused on energy deal activity. This webcast offers an overview of the distressed markets, discusses the impact of current commodity prices in the energy sector, and touches on key considerations and opportunities in the marketplace.
PwC and Equifax Workforce Solutions conducted a survey in the first quarter of 2015 to better understand how employers are planning to comply with the new ACA reporting requirements. This survey report contains information provided by 480 employers in 36 different industries across the U.S.
The United States ranked #1 in our latest global attractiveness index for aerospace manufacturing of 142 countries. The analysis looks at how countries and states in the US compare in terms of their attractiveness as locations for commercial aircraft manufacturing. The results of this study could help a manufacturer determine where to expand its business.
In this recorded webcast, foreign currency professionals from PwC's National Office and the Capital Markets Accounting Advisory Services practice discuss key considerations for multinational companies with foreign operations regarding the impact that acquisitions and dispositions can have on functional currency determination, recording of goodwill, release of CTA and substantial liquidation of foreign entities. Watch a replay or participate in the on demand (CPE-eligible) version of this webcast.