This week's PwC update on financial reporting developments includes: Consolidation changes - Do they affect your company? Will it early adopt?... Classification and measurement of financial instruments... 2014 SEC comment letter trends related to employee stock compensation... and more
With 2014 noted for a series of record-setting and transformative deals, momentum is expected to carry over into 2015 as deal-makers continue to invest in cloud, mobile and security and seek out emerging technologies such as Internet of Things (IoT).
In our webcast, PwC specialists will discuss current lease accounting issues they see in the marketplace. Topics will include build-to-suit leases, sale leasebacks, common terms in lease agreements that result in capital lease classification, and more.
Disclosure, valuation, and accounting related to employee stock compensation are complex areas that continue to be a focus for the SEC staff. We have prepared this publication to assist management in identifying and understanding the SEC staff's current focus areas related to stock compensation.
PwC's Energy practice invites you to join us for a webcast on March 4th, 2015 to discuss how companies can evaluate their organizational strategies and build new operating models to prepare for when the price of oil stabilizes.
The rate of global outsourcing of both core and support functions within organizations is rapidly rising. In an attempt to further reduce costs, organizations are asking that outsourced vendors play a larger role in supporting critical activities of the business. The result is increased pressure on service providers to provide greater transparency over their controls, so that their customers’ have assurance over their vendor’s operations. PwC’s Vendor Controls Attestation Report (SOC 2+) is designed to manage outsourcing risks and provide assurance over vendor controls, while saving both the vendor and customer money and time.
Organizations are increasingly looking to global markets for outsourcing as a means of reducing costs and increasing efficiencies. In order to receive assurance over their vendors’ operations, companies are demanding SOC (Service Organization Controls) reports prepared by independent auditors.
Analysis of deal activity in 2014 revealed a lackluster year as M&A volume and value remained near ten-year lows. Despite subdued performance, we are cautiously optimistic regarding 2015 as advanced economies continue to recover and emerging and developing economies continue to grow. Looking forward, one key driver of improved activity across modes will likely be the decline in fuel costs globally. We expect these prices to provide additional capital for more M&A.
Revenue recognition has routinely been viewed as one of the most difficult finance and accounting processes to get right. It represents one of the highest risks of material error on financial statements, and it is one of the leading causes of restatements. As companies move to the new standard, their compliance risk is likely to increase unless they have a well-planned, comprehensive approach to adoption.
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.
Which technologies are companies investing in this year? The top-three bets in our 2015 Digital IQ Survey preview are important, but they may not distinguish you from the competition. Instead, look to a trio of picks we believe have extraordinary potential, despite being off the radar screen of many businesses.
The 2013 COSO update to its Internal Control Integrated Framework, authored by PwC, helps refresh your internal controls for today's environment. Visit our COSO page for PwC's recent developments and videos, and links to key documents from the COSO (Committee of Sponsoring Organizations of the Treadway Commission) organization which is dedicated to providing thought leadership and guidance on internal control, enterprise risk management and fraud deterrence.
Analysis of deal activity in 2014 revealed a significant improvement in transaction activity after a lackluster 2013, with a notable pickup in defense-related transactions. The total deal value, $22.3 billion, was slightly above the 10-year rolling average of $21.2 billion. The number of megadeals, or transactions of $1 billion or greater, doubled from 2013 and included the first defense-oriented megadeal since the Budget Control Act of 2011.
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.
The accounting for business combinations (ASC 805), discontinued operations, divestitures, and related topics 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.
Our webcast will provide insight into the impact FASB’s new consolidation standard will have on commercial and industrial companies in the automotive, communications, entertainment & media, energy, healthcare, industrial products, pharmaceuticals, retail & consumer, transportation, technology, and utility industries.
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.
This week's PwC update on financial reporting developments includes: Navigating the FASB’s new consolidation standard webcasts... PwC comments on FASB’s proposed guidance on investment company disclosures... PEEC issues guidance on breach of independence... and more
The 2014 annual year-end financial reporting season has arrived for calendar year companies. We provide quick access to PwC publications and resources focused on key financial reporting trends, developments and considerations to help companies with their annual year end reporting activities.
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.
Learn how family businesses leaders are tackling critical business and family issues such as competition, growth, the skills gap, technology, professionalizing their business and family models and succession planning in the 2014-2015 US Family Business Survey.
Deal activity remained strong from the prior quarter as there was over $105 billion in announced and pending deals suggesting robust M&A activity may continue into 2015. As companies complete deals, integration becomes critical to achieving synergies. In this publication, we explore some of the methods being used to maximize synergies in the R&D function. Additionally this quarter's report's market spotlight looks at how Canada is essential to the development of future IP for companies within the industry. Canada has focused on becoming one of the most cost-effective countries for clinical development among the Group of Seven (G7) industrialized nations.
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 July 2014 and January 2015.
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).
It was an active year for Cable, Advertising & Marketing and Information & Internet. EMC companies are spending time, effort and money on their strategy and relative position in the digital value chain. PwC reviews deal activity last year and shares its outlook for 2015.
This week's PwC update on financial reporting developments includes: The quarter close — SEC Rule 3-05... Audit Committee Excellence Series: Achieving excellence — Overseeing accounting changes... FASB decides to propose changes to stock compensation tax accounting... and more
To be a truly effective chief financial officer, you have to learn to be the champion of strategic discipline. This strategy+business article, with interviews from leading CFOs across a range of industries, brings five traits of the strategic CFO to light and shows that today’s top financial leaders base their decisions on strategy, not spreadsheets.
PwC’s Global Retail and Consumer practice, in conjunction with the International Survey Unit (ISU), administered a global survey to understand and compare consumer shopping behaviors and the use of different retail channels across 19 territories.
Heading into the new year, private-company executives are in good spirits. Revenue forecasts are up, along with optimism about the US economy. So is profitability, which remains at a high-water mark for private companies. But chronic difficulty in finding skilled workers threatens growth at these businesses, and the global economy continues to be watched carefully by them. Read our survey report to hear what else is on private companies' minds.
The improving U.S. macro environment, record low interest rates, the stock market’s steady rise, and overall low volatility all contributed to strong U.S. capital markets in 2014. These market dynamics also drove initial public offering (IPO) volume leading to value highs not seen since 2000
In this issue, we are pleased to provide insightful articles in two areas of increased focus within the real estate investing community – the global search for investment opportunities, and the impact of technology and generational preferences on the way commercial real estate is utilized.
Companies striving to become agile must think in terms of three kinds of drivers of change: the “operating environment” that might radically reshape their business environment; “strategic responsiveness” or the soft levers they can pull in response; and the “organizational flexibility” that invariably affects their capacity to respond quickly. PwC has identified four key attributes for executives to consider when becoming an agile enterprise.
Retailers are realizing that the strategic management of risk and the reduction of shrink can have substantial impact on both profitability and customer satisfaction. Savvy retailers are using data analytics to add value to their loss prevention and risk management programs. This paper outlines key ways retailers are building successful enterprise-wide loss prevention programs that apply data and analytics.
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.
This edition addresses understanding proposed accounting changes, assessing financial reporting, disclosure and communication implications, and taking a holistic approach to an accounting change. The publication also discusses the new revenue recognition standard, financial reporting and adoption considerations, and the broader business implications.
While the near-term use of IFRS in the US by domestic public companies will not be required, IFRS remains very relevant to many US businesses. PwC provides the latest developments and helpful publications on IFRS adoption & convergence in the US.
This week's PwC update on financial reporting developments includes: In depth: FASB provides private companies relief on intangibles... In brief: EU to extend reporting on environmental, social, and governance matters...Key considerations for board and audit committee members, 2014-2015 edition... and more
This issue of IFRS news looks at (1) financial volatility, (2) highlights from the Revenue Transition Resource Group January meeting, (3) IFRS in the EU, (4) disclosure initiative, (5) employee benefits, and (6) Q&As: written options.
In this webcast, PwC's Energy practice will discuss a number of the latest trends and hot topics in state and local tax affecting the oil and gas industry, including recent legislative and regulatory changes, cases and policy decisions, and recent thought leadership.
PwC is pleased to share with you our second annual Executive Compensation: Clawbacks — Proxy Disclosure Study. This study presents our analysis of the compensation recoupment or “clawback” policies of 100 large public companies as disclosed between 2009 and 2013 in their year-end proxies. We hope this study will be helpful to those of you preparing proxies as well as those responsible for compensation strategy and financial reporting.
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.
A fresh and critical look at the boardroom agenda is crucial as companies are confronted with a changing business landscape, technological advances, and significant risks such as cybersecurity. Our latest edition of Key considerations for board and audit committee members addresses topics for today’s changing boardroom agenda.
PwC's Center for Board Governance invites you to attend the next Center for Board Governance Quarterly Webcast Series, designed to help board and audit committee members more effectively meet the challenges of their critical roles. Mary Ann Cloyd, Leader of PwC’s Center for Board Governance, Mike Gallagher Managing Partner of Assurance Quality, PwC and Wayne Carnall, Partner, SEC Services, PwC and former Chief Accountant of the Division of Corporate Finance, SEC will discuss the SEC’s active agenda, the current enforcement environment, and leading practices when responding to investigations in the next installment of the Center for Board Governance Quarterly Webcast Series.
This week's PwC update on financial reporting developments includes: Transition Resource Group debates revenue recognition implementation issues... In depth: Hybrid preferred stock instruments – New guidance requires reassessment... SEC staff issues new compliance and disclosure interpretations... and more
This issue of BoardroomDirect® includes highlights of the 2014-2015 edition of PwC’s Key considerations for board and audit committee members. There is also an article on the what President Obama’s State of the Union speech could mean to companies. There is news about the SEC mulling over the shareholder proposal exclusion rule, the US Chamber of Commerce’s report on proxy advisory firms, Delaware Supreme Court affirming exclusive forum bylaws, the SEC’s new security-based swap rules and a report on building a fraud-resistant organization.
PwC's Tax Projects Delivery Group invites you to rewatch the webcast, Time to take action: Highly anticipated research credit regulations on internal-use software released, where our panel discusses the key issues and opportunities presented by the IRS's proposed regulations regarding internal-use software (IUS) for purposes of the Section 41 research credit
Please watch a replay of PwC and Equifax Workforce Solutions' webcast discussing many the complexities of the ACA reporting requirements regarding "affordable healthcare" for "full time employees." We discuss new IRS Forms 1095-C and 1094-C, key technical and data integrity issues that employers will need to address, and the unique value proposition of our collaborative end-to-end solution.
The IASB will hold educational, non-decision-making sessions on March 13, 2015, to discuss topics that are anticipated to be discussed at a future Board meeting. (No decisions are made at education sessions.)
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.
The FASB and the Private Company Council (PCC) will host their fourth private company town hall meeting on April 28, 2015, to provide private company stakeholders across a wide variety of industries with the opportunity to discuss private company accounting issues and share input on current and future agenda topics of both the FASB and the PCC.
The IASB will hold educational, non-decision-making sessions on February 13, 2015, to discuss topics that are anticipated to be discussed at a future Board meeting. (No decisions are made at education sessions.)
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 week's PwC update on financial reporting developments includes: The quarter close: Cloud computing... PwC comments on IASB's discussion paper on rate regulation... FASB meetings and project updates... SEC staff to review Commission rule for excluding conflicting proxy proposals... 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.
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. The FASB is expected to issue a final standard on classification and measurement and impairment in the second half of 2014. PwC offers the latest developments, summaries of board decisions, and publications on the FASB and IASB's financial instruments project.
Learn how US CEOs are positioning for a new era where overseas business growth is balanced more evenly between developed and emerging economies, and mainstream adoption of digital technologies everywhere is surging.
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.
You are invited to watch PwC's webcast,, "Is Your Hospital in Compliance? Understanding the Final Section 501(r) Regulations", where we discuss the 501(r) mandate minimum requirements for hospitals to obtain and maintain their tax-exempt status.
This week's PwC update on financial reporting developments includes: Accounting for Income Taxes: 2014 Year-end Hot Topics... FASB removes concept of extraordinary, retains guidance on unusual items... COSO report offers guidance on using Frameworks to assess cyber risks... and more
PwC's brief, interactive summary and collection of Insights focuses on the key developments, issues and trends across the state and local tax landscape in 2014 and what we may expect for 2015 and beyond. There was one striking truth about the state and local tax world in 2014: It continued to offer a rich mix of legislative, judicial and administrative actions that altered the state tax landscape.
We are pleased to invite you to watch the recording of PwC's quarterly webcast series focusing on emerging accounting developments affecting not-for-profit organizations. This presentation is dedicted to the FASB standard setting developments that have occurred since our October webcast. We will be doing a refresher on not-for-profit business combinations accounting, cover A-133 regulatory developments, and discuss developments related to FASB projects impacting not-for-profit entities, including the not-for-profit financial statement project.
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.
Accounting for income taxes has seen legislative and regulatory changes in the United States and abroad in 2014. These developments, combined with an environment of political and economic uncertainty, have added to the existing challenges in accounting for income taxes.
Authors John Sviokla and Mitch Cohen identify five habits of mind that allow self-made billionaires to create value on a massive scale—habits that are in direct conflict with the traits and practices most businesses value and promote in their employees.
This week's PwC update on financial reporting developments includes: Reminder: Year-end financial reporting considerations and resources... BoardroomDirect: December 2014 edition — Monthly director e-newsletter... What matters in the boardroom? Director and investor views on trends shaping governance and the board of the future... and more
This research compares the responses of PwC’s 2014 Annual Corporate Directors Survey and PwC’s 2014 Investor Survey in order to identify areas where viewpoints are shared or different perspectives may exist between directors and investors.
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 week's PwC update on financial reporting developments includes: In depth: Collateralized financing entities — FASB provides new measurement alternative... Practical tip: Reporting considerations for a discontinued operation subsequently retained... IFRS news — December 2014/January 2015... and more
This issue of BoardroomDirect® includes highlights of the 2014 edition of the comparative report of PwC’s Annual Corporate Directors Survey and Investor Survey. There is also an article on the importance of board oversight of management’s social media policies and risk management plans. There is news about the proposed CEO/median pay ratio rule, the 2014 SEC whistleblower report to Congress, the PCAOB looking to issue a concept release on audit quality indicators, and the findings of an audit committee transparency barometer.
This edition includes: Flashline, IFRS news - December 2014/January 2015, In depth: Collateralized financing entities-FASB provides new measurement alternative, The quarter close: Directors edition Q4 2014, and more
PwC’s Power and Utilities Industry Group has developed this publication to assist management teams in understanding some of the SEC’s current focus areas as well as other financial reporting hot topics.
PwC discusses key comment letter trends and considerations based on comment letters published by the SEC staff. Trends are organized by selected industries and accounting topics. We highlight the areas that received the most comments from the SEC and provide relevant examples of recent comments to aid preparers in assessing whether their disclosures are transparent and consistent with relevant accounting and reporting guidance.
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 week's PwC update on financial reporting developments includes: In depth: Year-end financial reporting considerations... In depth: Highlights of the 2014 AICPA National Conference on Current SEC and PCAOB Developments... Regulatory and standard setting developments... and more
US shale gas development continues to mature rapidly. Its momentous growth is not only altering the country’s energy mix, and impacting global energy markets. It’s also giving US manufacturing a boost through significant cost savings and job creation, according to a PwC analysis.
This week's PwC update on financial reporting developments includes: The quarter close — Fourth quarter 2014... Private company reporter: 2014 wrap-up — What to know for your financial statement close... PwC guide: Foreign currency — inaugural edition... and more
We invite you to watch a recording of our quarterly webcast designed to address technical accounting issues impacting technology companies. The presentation features discussions by the PwC Technology and National Office practitioners on topics such as AICPA/SEC conference highlights and Technology industry SEC comment letter trends.
During this webcast, PwC professionals will discuss the OMB Cost, Administrative and Audit Circulars, now known as "the Uniform Guidance", affecting institutions of: higher education, hospitals, and other not-for-profit organizations. The discussion will cover Title 2 of the Code of Federal Regulations, Part 200 (2CFR, 200): Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards.
This publication provides an analysis of SEC comment letters issued to registrants across the energy and mining value chain, including exploration and production, midstream, downstream, drillers, oilfield services, and integrated energy companies.
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.
Throughout 2014, the U.S. IPO market put in its strongest performance since 2000, as a broad range of companies took advantage of strong equity markets and an accommodative financing environment to raise capital, according to IPO Watch, a quarterly survey by PwC US.
Recalls can have a devastating impact on the operations and brands of retail and consumer companies. But companies that manage the recall process effectively can transform a potential crisis into a business advantage.
The performance of software development teams is an area of high interest for Technology executives—especially with the increasing impact of software on the usability and functionality of high-tech products. PwC’s Software Measurement Study was designed to analyze the current state of measurement and practices in software development environments. The study compared measurement practices to industry leading practices to provide an assessment of software measurement.
To help registrants gain insight into the SEC’s current areas of interest, PwC analyzed comments released by the SEC staff to domestic large accelerated, accelerated and non-accelerated registrants within the healthcare provider industry during the two year period ended August 31, 2014.
This edition of The quarter close provides insight into the potential effect of the revenue standard on compensation plans, what to look for to identify embedded derivatives in new or modified debt agreements, a spotlight on the FASB’s newly unveiled guidance for applying pushdown accounting, an SEC focus on internal controls, and more.
A new consolidation standard is imminent. Hear how it may impact financial services companies. PwC's Stephanie L. Stewart, Lee Vanderpool, and Craig Cooke discuss the proposal and potential implications.
For the past decade, companies have had to contend with a series of large- scale macroeconomic disruptions, along with pressures on costs and earnings. Now, as the global economy recovers from the recession and cost and short-term earnings are not the sole focus, companies can turn their attention to the top line again.
This week's PwC update on financial reporting developments includes: Point of view: Audit committee evolution — 2014 and beyond... The quarter close: Common embedded derivatives... In the loop: Pushdown accounting — make the right choice for your company... and more
As year-end rapidly approaches, it is time once again to plan for your annual filing. PwC's technology industry publication, Stay informed, 2014 SEC comment letter trends, provides a comprehensive analysis of recent SEC staff comments to assist you in understanding some of the key trends that are relevant to companies in the technology sector.
This publication provides an analysis of SEC comment letters issued to registrants across the Retail and Consumer industry. Business challenges, changes, and opportunities, together with ongoing regulatory developments in the financial reporting environment, underscore the need for continued focus on high quality and transparent financial reporting. Understanding where the SEC staff focuses their review is an important consideration in the year-end reporting process.
Take a closer look at the latest automotive SEC comment letters and trends to prepare your end of year financial reports and high quality annual reports. The information summarized in this report is based on comment letters issued to companies in the automotive sector and closed by the SEC between October 1, 2013 and September 30, 2014.
This issue of BoardroomDirect® includes an article on the impact of the midterm elections on the boardroom and news about fee-shifting bylaws, proxy advisor 2015 policy updates, and the COSO survey on updating the ERM-integrated framework.
This week's PwC update on financial reporting developments includes: The quarter close: Top 5 financial reporting reminders... Reminder: SEC comment letter trends webcasts — December 2 and 3... FASB meetings and project updates... and more
Today’s IPO environment requires companies to stay on top of the latest updates and market conditions. Many companies are looking to support growth strategies, take advantage of new opportunities and proactively manage their capital structures. Accessing the capital markets in the form of a public offering – either through equity, debt or a spin off – requires a great deal of planning and preparation.
In the quarter running up to the midterm election, private companies remained intent — if not bullish — on growth, felt good about the US economy, and signaled greater risk appetite. And decidedly more of them reported profitability increases than we’ve seen in quite some time. Even so, wage hikes and hiring remain modest at Trendsetter companies, and the world economy is giving them pause. Read our survey report to hear what else is on private companies' minds.
SEC comment letter trends for Industrial Products companies is an analysis of SEC staff comments to help executives understand key trends that are relevant to companies in the following Industrial Products sectors: Aerospace & Defense; Business & Professional Services; Chemicals; Engineering & Construction; Forestry, Paper & Packaging; Industrial Manufacturing; Metals; and Transportation & Logistics.
This paper discusses the recent areas of focus and applicable accounting or reporting guidance in SEC staff’s comment letters issued over the past few years to registrants within the financial services industry and the identified trends of hot topic areas.
This week's PwC update on financial reporting developments includes: PwC's InPractice - Register now and join the discussion... Introducing our on-demand, CPE-eligible webcast library... Webcast: Private Company Services — 2014 Year-end accounting & reporting developments – December 8... and more
Please join PwC for a complimentary Pharmaceutical and Life Sciences Tax Hot Topics webcast: Legislative Update and Year End Accounting Update on Wednesday, December 10, 2014 from 12:00pm - 1:00pm (US ET).
Please join PwC's Professional Development Program as they host a tax seminar instructed by a panel of PwC subject matter specialists. You'll gain an understanding of the most recent developments relating to current industry trends and tax developments with respect to Real Estate Funds and REITs.
Please join PwC for a "Year End Review and 2015 Outlook with Perspectives from the IRS" as our tax specialists and IRS officials, Sunita Lough, Commissioner of Tax-Exempt and Government Entities, and Eric San Juan, Senior Technical Advisor to the Commissioner TE/GE, review the past year, discuss the IRS restructuring of the TE/GE Division, provide an outlook of potential future initiatives from the IRS, and highlight other issues impacting universities, healthcare providers, and other tax-exempt organizations.
As part of our webcast series on the new Revenue Recognition standard, we invite you to watch this webcast discussing the specific impacts the new standard will have on software companies. While the new standard will impact companies broadly, there are particular implications to software companies that deserve focus as companies plan for implementation.
Over the years, thanks to the input of thousands of executives from a number of sectors and territories, we have gained significant insight into how organizations are addressing the evolving risk landscape. The findings are published in both PwC's State of the Internal Audit Profession Study and our Risk in Review Study.
Our quarterly webcast is designed to keep you informed about emerging accounting, regulatory, and market developments impacting financial reporting. Register for our Q1 webcast on March 18, or watch our on-demand (CPE-eligible) webcast replays of previous quarters
In this survey report, PwC and FERF teamed up to gain an understanding of where companies are relative to implementing new revenue recognition standard. While many companies do not know what the implementation journey fully looks like yet in terms of implementation processes, costs, timing, contract reviews, IT and systems, operations, quantification and reporting, they understand they should start preparing now.
Power and utilities companies are often at the forefront of global sustainability and climate change issues, and are directly affected by the evolving expectations of the communities they serve. As populations become more urbanized and some jurisdictions begin to move towards more renewable energy sources, clear communication becomes even more important. Power and utilities companies need to tell a powerful story to support ongoing investment in their vital but often aging infrastructure.
In this webcast recording, Jean Connolly summarizes the recent developments of the short and long-term projects of the NAIC with a focus on decisions reached at the 2014 NAIC Fall National Meeting (November 2014). The webcast also highlights the activities of some of the committees, task forces and working groups of the NAIC.
In recent years Plan Sponsors of defined benefit pension plans have been focusing on de risking pension plans, including a strategy to provide a one-time lump sum buyout offer to former employees. We will share insights into the strategy Plan Sponsors utilized.
Our 2014 SEC comment letter trend compiles and analyzes the SEC staff’s comment letters issued over the past few years to registrants across different sectors within the Pharmaceutical and Life Sciences industry and provides highlights surrounding current hot topics and sample comments.
This week's PwC update on financial reporting developments includes: Introducing “In transition — Practical insights on revenue recognition implementation”... Point of view: The interim reporting model — Time to get back to basics... M&A snapshot — Companies in distress: Bankruptcy process and reporting considerations... and more
This PwC National Professional Services Group webcast discusses current accounting and financial reporting developments with a focus on private company considerations. Watch a replay or participate in the on demand (CPE-eligible) version of this webcast.
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 join us for our quarterly webcast series, designed for corporate financial reporting and HR executives. PwC specialists will provide their perspectives on emerging accounting, regulatory and market developments within the incentive compensation and employee benefits arena.
In October 2014, institutional investors, corporate officials, and governance specialists came together at PwC’s second annual Investor Exchange. The goal: to exchange ideas, discuss important issues, and find opportunities to collaborate in the future.
When carrying out supply chain network modelling projects in emerging markets, there are a number of challenges to be considered and managed. This paper describes how a sample of these can be overcome.
Large multinational corporations (MNCs) have been competing from global platforms for some time. A newer dynamic is the growth of the Small MNC. Businesses which, just a few years back, were happy to compete in their “home” markets increasingly find that entry to new markets is not just a growth strategy, but actually necessary for their long-term survival. But how to access those markets without betting the house?. When is it the right time to expand to a new market? Where do we grow? How do we enter a new market? Who are the competitors? What risks do we face? These are common questions for any business looking to grow, and there's a way to approach market entry to ensure your company is best-positioned for success.
PwC is pleased to share with you our Pension/OPEB 2014 Assumption and Disclosure Survey. This survey presents our analysis of the 2013 year-end assumptions and disclosures under ASC 715-20, ASC 715-30, and ASC 715-60.
Organizations often use customer information collected online to understand and effectively target consumers. This process requires not only the attention of the chief privacy officer, but also the chief marketing officer. Almost daily, news headlines underscore the importance of this with data breaches becoming commonplace. For consumers to provide complete and accurate information, they must know they can trust your organization.
Knowing how your advertising spend compares to that of your competitors is an important benchmark that allows you to save money; and using media auditing and benchmarking pools is the definitive way to do this. Or is it? It’s time to question the value of these pools.
This issue of IFRS news looks at (1) Revenue TRG tackles performance obligations and licenses, (2) new EFRAG to strengthen European influence, (3) ESMA focuses on consolidation, joint arrangements and deferred tax, (4) leases, (5) conceptual framework, (6) research agenda, and (7) Q&As: underlying.
With the COSO’s 1992 Control Framework being superseded by the 2013 updated edition on December 15, 2014, now is the time for companies to use the updated framework to evaluate the effectiveness of their systems of internal control over financial reporting. This paper talks through the updated framework and these competencies to evaluate the effectiveness of companies’ systems of internal control over financial reporting.
Discussions will include a review of the Oxford Economics and PwC outlook on Capital Projects and Infrastructure Spending Report. Participants will learn how Oracle’s Project-Driven Supply Chain solutions can help lower costs, increase resource utilization and minimize late penalty fees.
This week's PwC update on financial reporting developments includes: Webcasts: SEC comment letter trends — December 2 and 3... Reminder: Derivatives and hedging webcast – November 13... BoardroomDirect – October 2014... and more
Going public is a transformational event that pushes a company into view of regulatory, investor, and analyst scrutiny. Companies that delay getting their risk management, compliance and compliance infrastructure in order until after the IPO may be jeopardizing their ability to reap the full benefits of going public. This paper lays out steps that will help companies establish a foundation and cover the company’s critical risks and controls, both pre-and-post IPO.
In this special report, PwC and Wharton have teamed up to highlight the hidden risks and opportunities that can arise from key accounting challenges and suggest ways for companies to manage them — and potentially prosper. The articles collected here originally were published separately over the course of 2013 and 2014.
This issue of BoardroomDirect® includes highlights from the 2014 Annual Corporate Directors Survey: Trends shaping governance and the board of the future. There is also news about how ISS equity compensation and independent chair proposal recommendations may change, SEC plans to hold universal proxy ballot roundtable in 2015, political contribution disclosure increasing in S&P 500, and the PCAOB proposal for a new form for engagement partner identification disclosure.
Eleven mega deals drove significant deal activity in Q3-2014, positioning the R&C deals market to outperform last year's strong performance. Retail sales and economic trends continue to improve, leading to higher levels of consumer confidence as we head into the holiday season. IPO activity slowed in the third quarter of 2014 in terms of both volume and value after strong performance in the second quarter of 2014 with only two IPOs in Q3-2014. However, the pipeline looks stronger for the fourth quarter.
These webcasts will provide you with insights and analysis of recent SEC comment letter trends at an industry level. One webcast discusses trends impacting Commercial and industrial companies sectors and the other is focused on Financial services industries.
This webcast will review the current state of the M&A market in the US, the trends impacting dealmaking, what we envision the deal market could look like in 2015, and key considerations for successfully executing your deal.
This week's PwC update on financial reporting developments includes: PwC guide: Financial statement presentation – inaugural edition... PwC guide: Financing transactions: debt, equity and the instruments in between – 2014 edition... Save the date: PwC’s Center for Board Governance quarterly webcast – November 5... and more
The inaugural edition of our "Financial statement presentation" accounting and financial reporting guide addresses U.S. GAAP presentation and disclosure requirements of common balance sheet and income statement accounts.
While momentum continues apace with slightly fewer but larger deals, the third quarter experienced an unprecedented series of spin off announcements from technology titans that signal fundamental competitive shifts. Healthy valuations, built-up cash reserves and the ability to leverage equity enabled strategic buyers to lead the way, while private equity remained active on both the buy and sell side.
PwC's Center for Board Governance invites you to watch the Center for Board Governance's Quarterly Webcast Series, designed to help board and audit committee members more effectively meet the challenges of their critical roles.
Private Company Services' annual Year-end Tax and Wealth Management Planning webcast will focus on the key tax considerations for both businesses and individuals and strategies to consider to maximize your tax planning as we approach year-end.
This week's PwC update on financial reporting developments includes: IFRS and US GAAP: similarities and differences — 2014 edition... In brief: New mortality tables to impact benefit obligation assumptions... Annual Corporate Directors Survey: Trends shaping governance and the board of the future — 2014... and more
Watch or participate in our on-demand CPE-eligible two-part webcast series where we discuss the new Revenue Recognition standard in detail, and help you understand the pervasive business implications, as well as what companies can do to prepare for implementation of the new standard. Additionally, we expand our discussion with a series of industry-specific webcasts that look at the impact the new revenue recognition standard will have on various sectors.
The Global State of Information Security® Survey 2015 is a worldwide study by PwC, CIO, and CSO. Security breaches are on the rise, and it is no surprise to find that as the number of information security incidents continues to mount, so do financial losses. Survey respondents in 2014 report that the number of detected incidents soared to a total of 42.8 million, a 48% leap over 2013. This increase comes at great cost: Total financial losses attributed to security compromises increased 34% over 2013.