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Faculty Newsletter: January 2010
Dear Educator:Happy New Year and welcome back to campus! We hope the new semester is getting off to a great start. As the mid-year section meetings for the American Accounting Association begin, we look forward to having our Chairman, Bob Moritz, participate in the Accounting Programs Leaders Group conference in Albuquerque in mid-February. We hope to see many of you there.
In this newsletter, we are excited to provide an update on our IFRS Ready program including our new grant recipients and updated instructions for accessing our student materials. We would also like to remind you that we are accepting proposals now for the PwC INQuires program. In addition, we have highlighted this year's PwC Corporate Responsibility event and some new webcasts and firm materials on a number of topics for you.
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IFRS Ready rogram
The PricewaterhouseCoopers Charitable Foundation, Inc., a section 501 (c)(3) public charity, has awarded over $250,000 to fund 15 proposals for the IFRS Ready grant program this year. We thank everyone who applied for funding and congratulate this year's winners. Our total funding for these curriculum grants is now over $1million for 38 proposals over 2 years. A complete listing of grant recipients is posted on our faculty website.In addition, we have refreshed our student website and there are new instructions for accessing the IFRS Ready materials posted there. To find them go to www.pwc.tv, move the cursor over "Feed your Future"; choose Channel 1: Build your career now and the links will appear when you move your cursor to the black IFRS Ready box. You can also get to these materials through the IFRS Ready page of our faculty site by using the direct link appearing in the section discussing the "student materials". To receive the instruction materials designed for faculty, the IFRS Ready page has a request link and the materials will be sent to you by email.
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PwC INQuires
As mentioned in our December 2009 newsletter, PwC is now seeking proposals for PwC INQuires, which 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 over $1.2 million to 70 researchers across the country. PwC is now seeking proposals for the 2010 PwC INQuires program. This year the program will provide $10,000 grants to support individuals who are in the tenure pipeline or are studying for accounting doctoral degrees. The deadline for submissions for the current year program is February 19, 2010 and grant decisions will be announced in early April. Once selected, funds will be available for use during or after the summer 2010 term. Click here to view the Request for Proposals.
Project Make [it] Count
We are excited to be visiting many of your campuses over the next few weeks to launch this year's PwC Corporate Responsibility program. Project Make [it] Count will entail a proposal competition among campuses across the country. We are asking business student organizations to collaborate, reach a consensus and submit an idea describing how they would use funds provided by PwC to make a difference on their campus or within their community. We will select 20 proposals to receive $5,000 maximum from PwC to implement their ideas. Winners will be announced in mid-March. We look forward to seeing your students' ideas!
2010 Federal Tax Legislative Outlook
PricewaterhouseCoopers Washington National Tax Services (WNTS) invites you to hear Lindy Paull, former Chief of Staff of the Joint Committee on Taxation, Don Longano, former Chief Tax Counsel to the House Ways and Means Committee, Brian Meighan, former Accountant for the Joint Committee on Taxation, and Peter Merrill, former Chief Economist for the Joint Committee on Taxation, in a discussion of the Federal tax legislative outlook for 2010. Click here for the archive.
Tax accounting quarterly update: Exploring fourth quarter reporting period considerations
Join a panel of PricewaterhouseCoopers' Tax Accounting Services (TAS) specialists for a discussion of timely, relevant tax accounting matters in advance of year-end reporting for calendar year companies. Our panel will share insights and discuss specific tax accounting considerations associated with recent legislative developments -- including tax law changes in the United States, Mexico and other foreign jurisdictions. Click here for the archive.
Renewable Energy: What We've Learned Since the Stimulus
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 several incentive opportunities for energy projects. These incentives could be applicable to any company; they are not limited to traditional energy businesses nor to those in loss positions. In the months since the stimulus provisions were announced more details have emerged, not only in terms of additional guidance from Treasury but also in practical terms as companies have begun to take advantage of the opportunities around renewable credits. On this webcast, our speakers will explain the available incentives and how they relate to your business, talk about the new grant-in-lieu guidance and the IRS notice on the advance energy manufacturing property credit, and discuss practical application for companies trying to claim the special depreciation deduction for energy efficient commercial property. Click here for the archive.
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We Recognize How Busy You Are...
...so we are asking for just 10 minutes of your time to explore issues that we believe you'll want to understand and act on in the near future. Without mincing words, each 10Minutes piece is designed to distill key information and insights on a corporate, legal, or regulatory topic relevant to your classroom discussions. If we can make the process easier for you, it will be 10 minutes well spent. Here are some of our recent issues.10Minutes on Business Continuity
The best disaster survival manual may be obsolete if it doesn't anticipate major disruptions to the supply chain or at outsourced operations. As a result, business continuity management (BCM) programs are being designed to continually assess-as well as counter-risks stemming from the interdependencies integral to running a business.
BCM is about making sure your organization is prepared to survive a catastrophic event that is either man-made or natural, either a one-time or longer-term event, like a pandemic outbreak, or a significant disruption at a critical supplier.
10Minutes on maximizing internal audit
10Minutes on Maximizing Internal Audit shares PwC's point of view on the role of internal audit and its place in an organization's risk management process. It can be argued that broadening Internal Audit's role can reap risk management opportunities, but careful review and transition is needed to overcome challenges of shifting audit's role from the more traditional financial compliance monitoring to include emerging risk areas.
10Minutes on post-crisis boardrooms
According to PwC, several pending policy issues-healthcare, greenhouse gas emissions, financial regulation, and executive compensation-will influence corporate boards' perspectives and actions as we emerge from the economic crisis. In a recent survey of boards of directors by PricewaterhouseCoopers and Corporate Board Member magazine, directors say what they've been thinking and doing a year after the financial meltdown. Some appear to be postponing key changes to operations and business models until regulators and Congress resolve key policy issues.
10Minutes on monetizing carbon
Broader mandatory reduction of GHGs will affect all companies, not just heavy emitters. The latter will feel a direct impact through the monetization of their carbon emissions-whether it be via EPA fines or cap-and-trade-while other companies will feel the effect indirectly, in how their energy will be sourced, delivered, and priced going forward.
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Cleantech revolution
Recent trends of government and private investment into the build-out of smart infrastructures will cause companies across all industries to determine how they may benefit by assessing what role they might play-either directly or peripherally, and in the near and long-term-in the growth of smart infrastructure markets. This white paper offers information on the move to smart grid and other new technologies.We would like to thank everyone who participated in the recent Public Accounting Report Survey. We value feedback from all sources and appreciate your acknowledgement of our efforts in supporting you and your students. We will work hard to continue our collaboration and partnership with you.
Be on the lookout for a communication directly to all of you in the coming month from our Chairman. If there is anything we can do to be more helpful or responsive to your needs, please contact us at daugherty.and.wyer@us.pwc.com.
Best Regards,
Bob Daugherty and Jean Wyer