Subscribe to PwC's accounting weekly news
Despite what you may expect tomorrow, we only have treats for you today. Our In the loop helps you make sense of ESG. And our popular interactive SEC comment letter trends tool has been updated through 9/30. The FASB was dishing out treats, too, this week: two new ASUs and two new exposure drafts. See the “Here’s what we’re following” section.
And don’t forget to register for our Quarterly accounting webcast.
Today’s C-suite imperative calls for heightened focus on companies’ ESG matters through transparency and a purpose-driven ESG strategy. Read our latest In the loop to learn more.
Our SEC comment letter trends series has been updated through September 30 with recent quarterly trends, including initial observations on SEC comments related to COVID-19 disclosures. See what the SEC staff may be looking for in your filings.
There’s a lot of uncertainty these days that can cause volatility in foreign exchange rates. In this episode, PwC Managing Director John Horan joins host Heather Horn to take a look at how to manage foreign currency risk and apply the basics of foreign currency hedge accounting.
In this episode, host Heather Horn sits down with Michael Shehab and Michael Baccala, leaders in PwC’s Innovation Lab, to discuss the significant role that data analytics skills and technologies have on taking businesses to the next level in the decision-making process.
Join our year-end quarterly accounting webcast to hear key reminders on accounting topics as you close your books. We'll also have updates on the economy post-election, the AICPA/SEC conference, and more.
We are offering three sessions for this webcast: December 9, 14, or 15. Earn up to 1.5 CPE credits. Register for the session that works best for you.
A new PCAOB report provides its perspectives on the initial impact of the disclosure of critical audit matters on key stakeholders.
Read PwC’s comments on the FASB’s proposed guidance that would allow private company franchisors to simplify the accounting for pre-opening activities.
On October 29, the FASB issued ASU 2020-10, which is intended to conform, clarify, simplify, and/or provide technical corrections to a wide variety of codification topics, including moving certain presentation and disclosure guidance to the appropriate codification section. The guidance is effective for public business entities in 2021 and all other entities in 2022.
On October 22, the FASB issued ASU 2020-09 to align the SEC paragraphs in the codification with the new SEC rules issued in March 2020 relating to changes to the disclosure requirements for certain debt securities. Certain glossary terms were superseded and amendments were made to debt and other topics as a result of this update. Read our March 2020 In depth for further details of the original SEC release.
On October 29, the FASB issued an exposure draft of a proposal that would amend the scope of the recent reference rate reform guidance to allow derivative instruments impacted by changes in the interest rate used for margining, discounting, or contract price alignment to qualify for certain optional relief. Comments on the proposal are due by November 13, 2020.
On October 26, the FASB issued an exposure draft of a proposal that would clarify an issuer’s accounting for certain modifications or exchanges of freestanding equity-classified forwards and options (including warrants) that remain equity classified after modification or exchange. Comments on the proposal are due by December 28, 2020.