PwC's accounting and reporting news: Week of October 17, 2019

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PwC's weekly update on accounting and reporting developments, business news, and highlights from regulators and standard setters.

IFRS and US GAAP: similarities and differences

Accounting under both IFRS and US GAAP? Download our updated guide detailing the similarities and differences between the two frameworks.

Borrower’s accounting for debt restructurings: 5 things to know

Accounting for changes to debt can be complex. We help simplify with 5 things borrowers need to know. Listen in.

FASB to defer effective dates for major standards

On October 16, the FASB affirmed its decision to defer the effective dates for the credit losses, hedging, leases and insurance contracts standards for certain entities, with early adoption permitted. The FASB also affirmed its new “two bucket” transition philosophy, which is based on the FASB’s definition of “SEC filer” and the SEC’s definition of “smaller reporting company.” An entity’s effective date for a given standard will be determined as of the date that a final ASU is issued and will not be subject to change. In addition, the FASB voted to align the effective dates of its new guidance on goodwill impairment with the amended credit losses effective dates. The FASB staff expects that the final ASUs on effective dates will be issued in mid-November 2019.

PwC comments on the FASB’s liabilities vs. equity proposal

PwC has commented on the FASB’s proposal to amend the guidance for distinguishing between liabilities and equity. See what we think.

New PCAOB member appointed

On October 11, the SEC announced the appointment of Rebekah Goshorn Jurata as a member of the PCAOB for a term ending in 2024. She has spent the majority of her career as an attorney in public service at the SEC and other federal government agencies.

ProxyPulse: 2019 proxy season review

This edition of ProxyPulseTM provides insights into key corporate governance and shareholder voting trends during the 2019 proxy season.

Register: Tax Function of the Future: International and Core Compliance - 10/22

In our upcoming webcast, panelists examine how to best assess past tax function performance, what steps to take to reframe your strategy for 2020, and what benefits could be gained during this compliance season.

Contact us

Heather Horn

US Strategic Thought Leader, National Professional Services Group, PwC US

David Schmid

International Accounting Leader, National Professional Services Group, PwC US