United States
Click the 'X' in the top right corner to close this window.
PwC faculty newsletter archive
Every six to eight weeks you will find new thought leadership, white papers, PwC publications, and technical updates highlighted in our faculty newsletter. As each new newsletter is posted, the prior month's newsletter is archived here for your reference.
-
October 2009
Dear Educator,
Fall is upon us and we hope that the new school year is off to a great start for everyone.
In this issue, we would like to remind you about our IFRS Ready program. We have also highlighted items to keep you abreast of current developments in our profession including two recent Tax publications, a perspective on off-balance-sheet financing, the new View magazine, and current Thought Leadership Pieces.
PwC IFRS Ready Grant Program
PwC IFRS Ready Grant Program is an opportunity to receive funding in support of curriculum development. We are accepting proposal submissions through November 1, 2009. Further information can be found in the Request for Proposals posted on our website at www.pwc.com/faculty under IFRS Ready.
Managing the tax function through a weak economy
When times are tough, companies rethink their businesses and recalibrate their resource and investment decisions. Though the short-term benefits of budget and head count cuts may seem attractive on paper, CFOs and tax VPs have a few options to consider when evaluating the tax function. Click here to read the article: Managing the tax function through a weak economy.
Transfer pricing and the green agenda
The green agenda will unquestionably trigger many transfer pricing issues. Challenges will arise, but among them will be significant opportunities for effective planning so that businesses can understand the implications of their present and planned green agenda strategies. To learn more about the key issues and why companies should begin to address them now, click here to view our publication: Transfer pricing and the green agenda.
A perspective on off-balance sheet financing
This piece shows how upcoming changes to off-balance sheet reporting may affect the way companies design and manage future transactions and strategic relationships. It then recommends specific action steps that companies can take to prepare today…before the new rules take effect.
Utilize this link to visit our 10Minutes site or enroll to receive monthly 10Minutes publication updates.
View: fall 2009
This fall 2009 issue of View, PwC's business magazine, asks -- How does innovation happen -- and what role does failure and discipline play? We also look beyond the hype of cloud computing and examine what the technology really means for businesses. Our corporate responsibility (CR) article discusses why in today's economic climate businesses should embrace -- not cut back -- their CR efforts. Also featured is an interview with former Secretary of State Condoleezza Rice, plus articles on the future of retailing, managing talent here and in emerging markets, supply chain relationships, and better decision making through new technology.
Thought leadership highlights & Subscription to monthly updates
Every day, our people bring their experience and insights to the challenges our clients are facing in these volatile times. And every month, PwC delivers a range of thought leadership that captures our firm's leading thinking on the issues that matter most to business leaders around the world. You can view our Thought Leadership publications at www.pwc.com/us/insights.
We recently launched a new monthly update titled 'US Thought Leadership Highlights' to help you learn more about the business issues that are most important to you, and inform you of the pipeline of publications planned for the month ahead. This electronic announcement will feature 8-10 of our most recent thought leadership publications. To receive the 'US Thought Leadership Highlights' please subscribe to monthly updates via the pwc.com/us/insights page.
We hope you find this information helpful in supporting the good work you do with your students who are the future of our profession. We look forward to continued collaboration with you over the coming months.
Best Regards,
Bob Daugherty and Jean Wyer
-
September 2009
Dear Educator,
Welcome back to campus for another academic year! We hope you had the opportunity to enjoy some relaxing time away from work during the summer break. Continuing PwC's decades long tradition of working together with educators, we are committed to staying connected to you and we look forward to an exciting year. Also, we recognize that the current challenging times make both our roles more difficult, but we are optimistic that our continuing collaboration will bring good results for your students and our profession.
Over the last few months, through campus visits, informal conversations, our Symposium and Colloquium, and the AAA Annual Meeting, we and our leadership have had the opportunity to discuss many issues with you. The breadth of viewpoints in the academic community has been well represented as many perspectives were shared in our conversations. We thank you for your valuable input.
One particular dialogue brought together an outstanding group of experts with interested professors. PricewaterhouseCoopers sponsored a session at the AAA Meeting on "Lessons Learned from Diversity Programs on Campus". We were honored to be joined by Manuel Espinoza (CEO ALPFA); Richard Ramsey (CEO of LEAD); Frank Ross (one of the founders of NABA) and our Partner Bob Calabro. Jennifer Allyn from our Office of Diversity facilitated an active conversation with the panel members and the audience. We appreciate the assistance of the Diversity Section in helping us publicize this event.
The September 2009 newsletter includes information on our PwC IFRS Ready Grant Program, a PwC website update, a PwC Firm leadership update, an invitation to our Focus on Sustainability webcast, our tax publication entitled "Paying Taxes 2009: a global picture", and an invitation to our "Current Accounting and Reporting Developments" webcast.
PwC IFRS Ready Grant Program
PwC IFRS Ready Grant Program is an opportunity to receive funding in support of curriculum development. We are accepting proposal submissions through November 1, 2009. Further information can be found in the Request for Proposals posted on our website at www.pwc.com/faculty under IFRS Ready.
Website updates
We have just completed an update to our faculty website and we hope you like our new look. Check it out at www.pwc.com/faculty. We also encourage you to visit our campus website at www.pwc.tv so you can see the various types of media we are sharing with your students to get them excited about our profession and our Firm. Our campus site focuses on news, entertainment and career advice with video clips and feature stories highlighting issues which are important to your students - programs, career opportunities, hot business issues, corporate responsibility and of course . . . the PwC 411.
Firm Leadership Updates
As previously announced, on July 1, 2009, Bob Moritz was appointed as our US Chairman and Senior Partner after previously serving as our US Assurance Leader. At our annual PwC Accounting Symposium and Tax Colloquium, Bob introduced our new US Assurance Leader, Tim Ryan (both shown in this photo taken at the program). Rick Stamm will continue his leadership of our Tax practice and Dana McIlwain will serve as the Advisory Leader.
Focus on Sustainability
We invite you to view our archived webcast on Renewable Energy: What We've Learned Since the Stimulus. which was recorded on September 9, 2009. The Federal government has released guidance on several key stimulus provisions, including the opportunity to obtain Treasury grants in lieu of renewable energy tax credits, and the ability to apply for a major new incentive for manufacturers of energy property. The manufacturing incentive includes extremely near-term timeline requirements that require immediate attention to assess opportunities for you. The grants in lieu of credits also require both a tax and an assurance component that requires careful planning. Further, there is yet another incentive for energy efficiency improvements that should be considered this year.
Paying Taxes 2009: The global picture
Paying Taxes 2009: The global picture provides a comparison of the world’s tax systems from the point of view of a case study company. The aim is to provide insights and data, which will assist the process of tax reform and to gain a more in-depth understanding of the results. It is also important to look beyond the rankings to the underlying data. As well as the individual rankings on the ease of paying taxes around the world. The Paying Taxes study highlights how businesses are affected not only by corporate income taxes, but also by many other taxes. In addition, it shows how the procedural burden of tax compliance impacts companies.
'Current Accounting and Reporting Developments' webcast series
On September 14, 2009, we hosted our 3rd quarter webcast designed to keep you informed about emerging accounting, regulatory, and market developments impacting accounting and financial reporting. These quarterly webcasts feature insights from a broad range of PwC specialists, who will update you on the current state of technical topics and emerging issues that may impact your business.
You can view the archive of the 90-minute webcast on hot topics and recent activities of various regulatory bodies including the Financial Accounting Standards Board and the Securities & Exchange Commission.
This year, PwC expects to recruit over 4,000 interns and full time hires on campus. Your good work prepares these students and thousands of others to move into practice. That preparation is essential as your students move into the most challenging business environment we have ever experienced. We look forward to collaborating with you to positively impact the future of PwC and also the profession as a whole for generations to come.
As always, we welcome your feedback and appreciate hearing from you on how PwC can best support you as faculty members.
Best Regards,
Bob Daugherty and Jean Wyer
-
May 2009
Dear Professor,
We are excited to share the results of the Diversity, Inc. Top 50 List and to announce 2009 PwC INQuires Awards. Through our grant competition, we will award $200,000 to 20 researchers bringing our three year research funding total to approximately $1.2 million.
This month's newsletter also includes a link to the firm's on-line magazine "The View," updates on recent releases of 10Minutes publications, Tax resources, and information regarding CFO Direct.
As the current academic year is winding down, we will communicate with you again in August. We hope you have a wonderful summer!
Diversity, Inc. Top 50 List
Diversity Inc. recently released their 2009 list of Top 50 Companies for Diversity. We are pleased to share with you that our Firm was # 5 on the list and we were the only employer staying in the top 5 from the 2008 list. Over 400 companies applied for this distinction and the results will be covered in the June issue of the magazine.
To view the full article, utilize this link.
2009 PwC INQuires Awards
We are excited to announce our 2009 PwC INQuires Awards
View magazine: Spring 2009 edition
We are happy to announce the spring 2009 edition of View, our magazine for business. Understandably, complex matters related to the economy remain center stage, and in this issue we examine the recession and its aftermath from several perspectives. As always, our goal is to present distinctive content that addresses your interests and concerns in a way that you will find both informative and engaging. Click here to access View magazine: Spring 2009 edition
10Minutes publications:
We continue to get positive feedback regarding the quality of the subject matter and the delivery format of our 10Minutes publications. If you have not done so, we encourage you to consider subscribing to receive an electronic notification whenever a new 10Minutes publication is released.
To subscribe, or to check out current issues, as well as a list of upcoming topics, click here: 10Minutes.
Recent releases include:- 10Minutes on the emerging influence of IFRS
- 10Minutes on international tax increases
- 10Minutes on realizing ERP value
- 10Minutes on current developments for Directors
Tax Resources:
Washington National Tax Services Insight
For timely insights and analysis on emerging tax issues, visit our site developed by our professionals in our Washington National Tax Services practice. Utilize this link to access the most recent publications.
Tax Publications:
U.S. Tax Services has several recently released publications that may be of interest to you including 10Minutes on international tax increases; A tax perspective in implementation, IFRS-Tax plan; and State and local tax trends affecting business in 2009: Looking back, looking ahead. To view these and others, visit our Tax Publication site.
CFOdirect
CFOdirect provides targeted, customized insights and analysis of the latest news in the financial world. It can enhance your ability to provide up to the minute changes to the students in your classroom. As a member, you will receive timely invitations to webcasts on current topics and access to PwC resources such as the recently released Data Lines addressing FASB's New Guidance for Fair Value Measurement and Impairments.
To register for a free membership, go to www.cfodirect.pwc.com, and click on the Register Now link in the Member Login box on the right hand side of the site. Then, complete the brief registration form and you will be approved to use the site within 48 hours of applying.
As always, we welcome your feedback and appreciate hearing from you on how PwC can best support you as faculty members.
Best Regards,
Bob Daugherty and Jean Wyer
-
March 2009
Dear Professor,
This month, we have included a recent communication to faculty from our US Chairman. We have highlighted our current initiative to assist students with "recession-proofing" their job search. In addition, we have included details for accessing two upcoming webcasts offering continuing education credits and hot topic updates - our Assurance Quarterly Update and our Tax Accounting Update. We have also featured our latest 10Minutes document, 10Minutes on the US Stimulus Package.
Message from our US Chairman:
Following up on his December 23, 2008 communication, our US Chairman, Dennis Nally, reached out to faculty earlier this month to reiterate our strategy to continue to invest in our people during these difficult economic times. We regard you as strategic partners and know that current and former students will seek your advice. As such, we want you to be fully informed on our business and strategies. In addition, we will be connecting directly with our interns and new hires to confirm our steadfast commitment to each of them.
You can read Dennis' message by utilizing this link: Dennis Nally Message. If you have any comments or ideas that you would like to share with Dennis, please send them to: daugherty.and.wyer@us.pwc.com
We understand that your students are likely experiencing some anxiety during these difficult times. To help address this issue, we have partnered with Lindsey Pollak, career development specialist and author of Getting from College to Career: 90 Things to Do Before You Join The Real World, to offer a comprehensive website offering valuable tools and tips to assist students with their job searches. The website content includes a top 10 tips video, man-on-the-street style question and answer videos, career worksheets, and even a blog where students can share, view and post questions as well as track and receive answers from Lindsey.
We have shared this information with approximately 200 Career Services offices at universities across the country. We know that Career Services offices are being inundated with students seeking employment and we are glad to provide this great resource to schools as our strategic partners. This website contains information relevant to students at all levels. We encourage you to share this helpful tool with your students.
You can view this information on our student website at www.pwc.tv by clicking on "Career Resources".
Q1 Current Accounting and Reporting Developments Webcast:
On Wednesday, March 25th at 1PM (ET), PwC presented a 90-minute webcast on hot topics and recent activities of various regulatory bodies including the Financial Accounting Standards Board (FASB) and the Securities & Exchange Commission (SEC). In addition, this webcast will update you on current developments on the Washington scene in light of the recent changes in the administration and economic markets. To view the archive, utilize this link: Q1 Webcast
Tax accounting update: Exploring first quarter reporting period considerations:
On Tuesday, March 24th, from 2:00-3:00 pm (ET), a panel of our Tax Accounting Services (TAS) specialists discussed timely and relevant tax accounting matters in advance of the first quarter reporting period for calendar-year companies.Our panel shared insights on the:- Complexities in valuation allowance assessments
- Impact of current market conditions on quarterly tax reporting computations, presentation and disclosure
- Tax accounting impact of recent tax law developments
PwC's 10Minutes Release: 10Minutes on the US Stimulus Package
We have recently released two 10Minutes pieces that may be of interest to you: 10Minutes on the US Stimulus Package. You can subscribe to receive email notification when a new topic is released. To subscribe, or to check out current issues, as well as a list of upcoming topics, click here: 10Minutes.
As always, we welcome your feedback and appreciate hearing from you on how PwC can best support you as faculty members.
Best Regards,
Bob Daugherty and Jean Wyer
-
February 2009
Dear Professor,
As the pace of change accelerates, we hope you will find these updates a helpful addition to our ongoing collaboration and dialogue on today's accounting and reporting landscape.
PwC University for Faculty Update
As Dennis Nally shared with you in December, during this time of economic crisis, we see our people, your alumni who work for us, as a critical investment in our business that we are not willing to sacrifice for a short-term payoff. As such, we are not currently planning any significant or unusual reductions in our staffing levels. Instead, our strategy during this uncertain time is to closely scrutinize all of our expenses. Therefore, we have decided to defer PwC University for Faculty for 2009. We regret that the current economic situation makes this necessary.
Training Magazine
We are excited to share with you that we have again been named #1 by Training Magazine, the industry standard in terms of ranking organizations that excel at professional development. For the second year in a row, we were the number one rated firm among all businesses.
BusinessWeek 50 Best Internships
BusinessWeek's 2nd annual list of the 50 Best Internships, released in late December 2008, ranks PricewaterhouseCoopers at #2; only Goldman Sachs finished ahead of us. We did not rest on our laurels after last year's #1 ranking and, instead, embarked on a two year improvement program that we have been executing. Our intern numbers this year will be consistent with last year. We look forward to hosting your students for a rewarding learning experience which will focus on valuable client service opportunities, community service and knowledge management --- all culminating in our Internship Development Program at Walt Disney World.
The BusinessWeek rankings and accompanying article can be found here.
PwC INQuires
PwC initiated the PwC INQuires program in the Spring of 2007 to assist faculty and PhD students seeking to increase the knowledge base that contributes to the practice of auditing and tax. Since the program's inauguration, PwC has awarded almost $1 million to 63 researchers across the country. In response to the 2009 PwC INQuires Request for Proposals, we received approximately 100 grant proposals which are currently being reviewed. Grant decisions will be announced in early April. Once selected, funds will be available for use during or after the summer 2009 term.
The SEC has now mandated that XBRL-formatted financial information be submitted. Consequently, many companies will now be ramping up their readiness efforts. During the webcast, our panel of experts will discuss the following key topics to help your company become more prepared:
- Overview of SEC mandate and changes made from the May proposed rules including the implementation timeline and submission requirements
- Key implementation considerations, such as adoption approaches, process implications of detailed tagging in 'Year 2', corporate website posting, considerations for choosing outsourcing partners and software, and internal quality control processes
- Considerations for making key judgements and decisions related to XBRL, such as taxonomy selections and company-specific extensions
- Assurance considerations for management and audit committees
- Benefits beyond compliance—how XBRL can contribute to making your financial reporting process more effective and efficient
- Implementation plan and project management considerations, including lessons learned from the Voluntary Submission Program—those who have already voluntarily filed
Tax policy in transition
In this publication, PwC's Washington National Tax Services (WNTS) offers a preview of the tax landscape facing Congress, including economic recovery legislation, comprehensive tax reform proposals, tax-related priorities such as healthcare reform, climate change, and energy independence, and other tax policy matters of importance to today's business leaders.
We are hopeful that this document will provoke strategic thinking and assist companies in identifying and prioritizing many of the key US tax accounting method implications that may result upon the conversion to IFRS.
Tax IFRS readiness series:
This publication attempts to identify circumstances where tax accounting method changes may be required or desired and where Schedule M computations may change during an IFRS conversion with respect to the following:- Revenue recognition
- Contra receivables
- Inventory
- Property, plant, and equipment (PP&E)
- Intangible assets and goodwill
- Impairments
- Leasing
- Liabilities
Subscribe to PwC's 10Minutes updates
As the tagline states, give us 10 minutes and we'll brief you on what senior executives (and faculty) need to know about emerging topics important to today's business. Many of you may be familiar with the 10Minutes updates on PwC's website. Now you can subscribe to receive email notification when a new topic is released. To subscribe, or to check out current issues, as well as a list of upcoming topics, click here.
We have recently released 10Minutes pieces that may be of interest to you:- 10Minutes on F&A Shared Services
- 10Minutes on Health Reform under Obama
- 10Minutes on Making Divestitures Successful
- 10Minutes on Sustainable Cost Reduction
- 10Minutes on Climate Change
As always, we welcome your feedback and appreciate hearing from you on how PwC can best support you as faculty members.
Best Regards,
Bob Daugherty and Jean Wyer
-
January 2009
Dear Professor,
Happy New Year and welcome back! We hope the new semester is getting off to a great start!
For your reference, we have included the powerful message that our US Chairman, Dennis Nally, sent to all of you on December 23 regarding our approach for managing through this economic process. You can read the message by utilizing this link: Dennis Nally Message. In addition, click here to view the video referenced in his message. If you have any comments or ideas that you would like to share with Dennis, please send them to the following email address: daugherty.and.wyer@us.pwc.com.
PwC INQuires
As mentioned in our December 2008 newsletter, PwC is now seeking proposals for the 2009 PwC INQuires program, which is funding for applied research. PwC initiated this program in the Spring of 2007 to assist faculty and PhD students seeking to increase the knowledge base that contributes to the practice of auditing and tax. Since the program's inauguration, PwC has awarded almost $1 million to 63 researchers across the country. The deadline for submissions for the current year program is February 16, 2009 and grant decisions will be announced in early April. Once selected, funds will be available for use during or after the summer 2009 term. Click here to view the Request for Proposals.
IFRS Ready Grant Program
The PricewaterhouseCoopers Charitable Foundation, Inc., a section 501 (c)(3) public charity, will be awarding over $790,000 to fund 24 proposals for the IFRS Ready grant program. A complete listing of grant recipients is posted on our faculty website.
Cities of Opportunity
What makes a city thrive? It's a fascinating question. Today it's also an urgent one. This is especially true in the face of a pressing financial crisis. Cities offer the strength and resilience to lead our recovery through short-term stress and rebuild toward long-term growth. Click here to view our detailed study of the world's leading financial and commercial centers.
Meeting the challenge of the current financial crisis
The world has changed, and changed abruptly. The current credit crisis in the US has shaken financial markets, undermined consumer and investor confidence, and is threatening economies around the world. We have identified seven key steps that companies should take today in order to position themselves to successfully navigate the rough waters and emerge victorious -- identifying and managing risk to survive today and capitalizing on market opportunities to gain and sustain competitive advantage over time.
IFRS conversion: Understanding the impact on your global tax footprint
On December 11, 2008, our experts hosted a webcast focusing on the major tax considerations of IFRS impacting today's global tax function, including what it will mean to a company and who will be impacted and how. The archived webcast can be viewed on our US IFRS Website.
As always, we welcome your feedback and appreciate hearing from you on how PwC can best support you as faculty members.
Best Regards,
Bob Daugherty and Jean Wyer
-
December 2008
Dear Professor,
As the Fall term comes to a close, we would like to take a few moments to wish you the best during the upcoming holiday season. We have highlighted below our 2008 Holiday Giving as a Firm to help those less fortunate during these difficult times. In addition, we are glad to announce the 2009 PwC INQuires program.
PwC Holiday Giving
The old adage says that it's better to give than to receive. In times of economic hardship that's especially true. We have a long tradition of remembering those in need during the holiday season and this year, in place of our holiday events, we are dedicating an additional $1.5 million dollars to charities selected by each of our 19 markets.
Click here to view the details as well as the video announcement from our US Managing Partner, Greg Garrison.
PwC INQuires
PwC INQuires is a program of funding for applied research. PwC initiated this program in the Spring of 2007 to assist faculty and PhD students seeking to increase the knowledge base that contributes to the practice of auditing and tax. Since the program's inauguration, PwC has awarded almost $1 million to 63 researchers across the country. PwC is now seeking proposals for the 2009 PwC INQuires program. The deadline for submissions for the current year program is February 16, 2009 and grant decisions will be announced in early April. Once selected, funds will be available for use during or after the summer 2009 term. Click here to view the Request for Proposals.
As always, we welcome your feedback and appreciate hearing from you on how PwC can best support you as faculty members.
Best Regards,
Bob Daugherty and Jean Wyer
Happy Holidays!
-
November 2008
Dear Professor,
Our November newsletter contains a new perspective on the future of American businesses, information on the hot topic of climate change strategies and carbon disclosure reporting, and two helpful Tax resources. In addition, we continue our efforts to make tools available to you regarding IFRS. We are happy to announce the launch of our new IFRS Video Learning Center. We have also included a link to our IFRS webcasts where you can access an archive of our recent IFRS Conversion webcast.
American perspectives
We've heard a lot of skepticism about the American economy this fall. Yet, the long view shows realistic reasons for optimism. We invite you to share some of the insights we gained from our 10-year planning process by visiting our new American Perspectives Web site.
In late fall 2007, seeking to develop perspective on the decade ahead for our clients and for us, PricewaterhouseCoopers began our own reckoning into the future. We found our discussions with senior US executives, academics, public policy experts and PwC partners so valuable that we wanted to find a way to share them. The result is American Perspectives, which mirrors major threads of our discussions and conclusions and amplifies them in short essays and interviews. Besides reading individual articles from American Perspectives, you can also download a PDF or order a hard copy of this publication on the web site.
Addressing the Carbon Footprint
From the classroom to the boardroom, people are discussing the effects of climate change. Here at PwC we are very much involved in the dialogue.
View magazine warms up to climate change
The cover story in the latest edition of View, PwC's on-line business magazine, examines how companies are building comprehensive climate change strategies in anticipation of the present and future impact on their business. It includes a checklist businesses can use to size up climate change risk and their carbon footprint.
The Carbon Disclosure Project
Carbon disclosure and climate change reporting is also becoming increasingly critical for investors, who want to fully assess their risks, liabilities and opportunities within their portfolios.
The Carbon Disclosure Project (CDP), to which PwC has been appointed global adviser and report writer for the next three years, provides investors with a unique analysis of how the world's largest companies are responding to the challenge of climate change by publishing the results of the Global500, S&P500 and FTSE350 companies that have disclosed their activities.
The reports provide real insight into how companies track their carbon footprint and consider the risks and opportunities of carbon on their business. It also shows how companies compare against their industry peer group and who is leading the field.
For more information, please click here to go to the Carbon Disclosure Project Web site.
PwC's Carbon Emissions Reduction Initiative
Even closer to home, PwC recently announced our own carbon emissions reduction program in the United States. As a part of our corporate responsibility commitment, we plan a 20% greenhouse gas (GHG) emissions reduction by 2012 compared to our 2007 emissions levels. This announcement is the culmination of 12 months of significant efforts by our Advisory practice to both measure the firm's carbon footprint (or baseline) and identify solutions to begin reducing carbon dioxide emissions. The analysis included a comprehensive inventory of activities, including infrastructure (workspace and meetings), supply chain, travel (air/auto travel, hotels, and mass transit) and employee commuting. The reduction goals include a broad set of engineered and behavioral solutions under three broad categories - Travel, Workspace and Commuting.
Spotlight on tax resources
Whether you'd like to hear about new developments in the Tax world, or read about them, PwC will keep you up to date with our podcasts and National Tax alerts.
AudioDigest Tax Podcasts
PwC's series of Tax-focused podcasts covers technical information and addresses practical implementation considerations. Many topics relevant to federal, state and local taxes are available, such as " Solving the mystery of IRS interest computations" and "On the Hill: Congress addresses state tax issues." Click here to go to the AudioDigest web site to see a full listing.
Washington National Tax Services Insight
This alert publication provides timely insight and analysis on emerging tax issues. Developed by professionals in PwC's Washington National Tax Service, WNTS Insight can keep you "ahead of the curve" with respect to the significant tax developments in today's ever-changing legislative and regulatory environment. To see the current edition, peruse the archive of past topics, or sign up for an email subscription, visit the WNTS Insight Web site.
IFRS Resources
IFRS Video Learning Center
The IFRS Video Learning Center features a series of on-demand IFRS technical sessions designed to assist companies in identifying the differences between IFRS and US GAAP, and to help them assess the areas of their business that will be most impacted. Featuring PwC IFRS specialists, each technical session contains three or four specific discussion topics that last approximately 30 minutes and can be individually viewed. New technical sessions will be released on a periodic basis.
New webcast: IFRS conversion process: Phase 1 preliminary study
As part of our ongoing IFRS series, we hosted a webcast on Thursday, November 20, to discuss a Phase 1 preliminary study of an IFRS conversion process, highlighting key considerations in light of today's environment, steps companies should take in developing their IFRS transition plan, and the benefits thereof. You can view the archive of this webcast as our IFRS Conversion Specialists discuss many aspects of an IFRS conversion and our approach to IFRS conversions, highlighting objectives, timeline, key considerations and insights. To view this and other webcasts on IFRS, use this link.
As always, we welcome your feedback and appreciate hearing from you on how PwC can best support you as faculty members.
Best Regards,
Bob Daugherty and Jean Wyer
-
October 2008
Dear Professor,
This month we have some important news to share with you on key technical issues and some of our student and diversity programs, as well as a reminder about the availability of our IFRS Ready curriculum support materials and grants. Our student materials are available at www.pwc.tv on Channel 3, the Learning Annex. Our faculty materials are available at www.aaacommons.org , click on "Emerging Topics", then "IFRS", and click on "hives" to visit the "PwC- IFRS Ready" hive. As a reminder, we are currently accepting proposals for our IFRS Ready Grant program. Click here to view our IFRS Ready Grant Request for Proposals.
As the pace of change accelerates we hope you will find these updates a helpful addition to our ongoing collaboration and dialogue on today's accounting and reporting landscape.
PwC weighs in on the mark-to-market accounting debate
Given the extraordinarily heated debate going on in Washington and around the world about the financial crisis, misunderstanding about the use and impact of mark-to-market accounting has resulted in some, including Members of Congress, calling for a complete moratorium on its use. On October 1st, Dennis M. Nally, our Chairman and Senior Partner, sent the attached letter to Members of the Senate and House to underscore our view that mark-to-market (or fair value) accounting provides critical transparency to investors and the capital markets, particularly in times of economic difficulty. While we recognize the tremendous stress in the markets, we don't believe a suspension of mark-to-market accounting is the answer, and we felt it was important that our Firm express a straightforward point of view on this issue. Additional information about our view of mark-to-market accounting can be found in a 10Minutes piece we recently released on fair value in financial reporting.
Business tax outlook 2009 & beyond
Major challenges are facing the US income tax system. Growing concern that today's corporate tax system limits US business competitiveness, the potential expiration of significant individual tax cuts, and the increasing pressure to develop a "revenue neutral" tax plan to cover the growing federal deficit have strengthened the impetus for tax reform, a prospect that congressional tax-writing committees and the presidential candidates have been heavily focused on. In an article written for the September 2008 issue of Financial Executive, two PwC tax professionals take a look at the potential changes and what they may mean for US businesses. Click here to see a reprint of the article.
Current accounting and reporting developments Webcast
PwC recently hosted the first in a quarterly series of Webcasts discussing key emerging accounting, regulatory, and market developments impacting accounting and financial reporting. The one-hour archived webcast is available to you by clicking here: hot topics Webcast. Moderated by Vin Colman, PwC Assurance Managing Partner and National Professional Services Group Leader, it features insight from a broad range of PwC specialists on topics including:- FASB activities - proposal on loss contingencies, hedging activities, coordination between the FASB and IASB
- The SEC's recent release of the IFRS Roadmap and Staff Accounting Bulletin 59
Our commitment to diversity...
eXceed Scholarship Program:
Since 1990, we have awarded over $2.4 million in scholarships to some of the best and brightest African American, Hispanic/Latino and American Indian students in the US through our eXceed program. eXceed winners will receive a $3,000 scholarship, participation in our Diversity in Business Leadership Conference, and an internship with PricewaterhouseCoopers. Eligible students can apply now through December 31.
Diversity in Leadership Business Leadership Conference:
This past summer, we hosted 80 students and over 100 PwC professionals for our Diversity in Leadership Business Leadership Conference in Chicago. This two day conference focuses on professional development through the exploration of the themes of Teamwork, Leadership and Excellence. The event includes prominent speakers and instructional workshops, and is a great forum for networking with PwC partners and staff. To view a recap video of the program, click here: www.pwc.com/exceed
Another snapshot from our busy summer...
PwC Leadership Adventure for Students
In July, we hosted approximately 200 top students from around the country for our PwC Leadership Adventure program. Our fast-paced, energetic program encompasses all aspects of distinctive leadership and teamwork and promotes our profession to this talented group of students. Click here to view a video highlighting the program: www.pwcleadershipadventure.com.
Subscribe to PwC's 10Minutes updates
As the tagline states, give us 10 minutes and we'll brief you on what senior executives (and faculty) need to know about emerging topics important to today's business. Many of you may be familiar with the 10Minutes updates on PwC's website. Now you can subscribe to receive email notification when a new topic is released. To subscribe, or to check out current issues, as well as a list of upcoming topics, click here: 10Minutes.
PwC IFRS Ready Grant Program:
As a reminder, the November 1st deadline for submissions to the PwC IFRS Ready Grant Program is fast approaching. PwC has committed $1 million to provide faculty with an opportunity for funding to support IFRS curriculum. Grants in three size categories are available. Further information can be found in the Request for Proposals posted on our website at www.pwc.com/faculty under IFRS Ready.
IFRS resources:
In addition to the IFRS Ready materials you can find on our faculty website, current information on this topic is being continually updated and added to PwC's IFRS website at www.pwc.com/usifrs. Some of the newest information includes:- 10Minutes on transitioning to IFRS, September 2008
- IFRS and US GAAP: Similarities and differences, September 2008
- Mapping the change: IFRS implementation guide, August 2008
- Preparing your first IFRS financial statements: Adopting IFRS
- Experience IFRS: PwC's interactive IFRS financial statements demo
We welcome your feedback and appreciate hearing from you on how PwC can best support you as faculty members.
Best Regards,
Bob Daugherty and Jean Wyer
-
September 2008
Dear Professor,
Welcome Back! We are excited to embark upon a new academic year and look forward to communicating with you!
In July, we announced our IFRS Ready program which provides materials for faculty and students around this important initiative. We are now happy to share with you the details of our IFRS Ready Grant program. We have also highlighted some other key resources which will assist you with IFRS. In addition, we would like to tell you about several amazing events we have hosted this summer!
PwC IFRS Ready materials and Grant Program
PwC IFRS Ready Grant Program, a new opportunity for funding to support curriculum implementation. We are initiating this program to assist faculty in implementing IFRS content in their courses. Grants in three size categories are available to professors. The deadline for submissions is November 1, 2008. Further information can be found in the Request for Proposals posted on our website at www.pwc.com/faculty under IFRS Ready.
Project Belize
In July, over 100 interns and 40 PwC partners and staff went to Central America for a once-in-a-lifetime community service experience. Project Belize is a stunning documentary tribute to this volunteer team's week-long effort to transform four elementary schools and experience the joys of giving. You can view it at www.pwc.tv on Channel 2.
PwC Internship Program
Over the past year, we had approximately 2,300 of your students join us as PwC interns from over 340 schools. Consistent with our commitment to continuous learning, we offer our interns a world-class education experience with the Disney Institute in our Internship Development Program. The recap video of the program is available for viewing at www.pwc.tv on Channel 1 in Events & Experiences.
Summer Faculty Programs
The firm also held PwC University for Faculty in July which included 150 faculty members. We have involved members of PwC's Learning & Education and National Professional Services team to re-design the program curriculum this year, highlighting some exciting new learning experiences that we are currently offering for our PwC professionals. Our program attendees found these activities to be very rewarding and impactful. The program also included a unique dialogue on building trust that was very well received. We look forward to inviting back former faculty attendees for our future offerings of this course. We thank the following professors for their cameo appearances in our video recap:- Elliot Kamlet
- Connie Hylton
- David Jensen
- Billy Soo
- Mary Canning
- Steven Glover
- George Aldhizer
- Kevin Roach
As you can see, we've had an amazing summer! Please continue to visit this site for updates to our events.
IFRS Resources:
In addition to our IFRS Ready materials, you will find additional information available at our new IFRS website at www.pwc.com/usifrs. We would like to highlight a few key items that you may find useful.
IFRS pocket guide 2008
The IFRS pocket guide 2008 provides a summary of the recognition and measurement requirements of International Financial Reporting Standards published up to March 2008. It is intended to be used as an 'at-a-glance' guide.
IFRS Monthly Webcast series
Available webcasts are detailed at www.pwc.com/usifrs - click on IFRS Webcasts. We would like to highlight the two most recent webcasts.
-
IFRS in the US: One step closer to Adoption
The SEC voted on August 28, 2008 to release a proposed roadmap which, we believe, will ultimately lead to the US adopting IFRS as its financial reporting language. The roadmap and proposed rule will affect all public companies in the US. The webcast, IFRS in the US: One step closer to Adoption , features our IFRS experts discussing and analyzing the implications of the proposed rule. -
Accounting for income taxes under IFRS: Convergence & the path forward
The webcast Accounting for income taxes under IFRS: Convergence & the path forward discusses the IASB plans to issue an exposure draft proposing changes to the income tax accounting standard under IFRS. Learn why these changes are being proposed and the potential implications.
We welcome your feedback and appreciate hearing from you on how PwC can best support you as faculty members.
Best Regards,
Bob Daugherty and Jean Wyer