What's new on CFOdirect - Week of February 13, 2014

Welcome to this week's edition of What's new on CFOdirect, PwC's periodic guide to developments in financial reporting, business news, and management issues.

Inside this issue

Accounting and reporting 

Flashline: A weekly update on financial reporting - February 13, 2014
This week's topics include:
- Save the date: Q1-2014 Current Accounting and Reporting Developments webcast-
  Tuesday, March 18
- SEC staff release updated Financial Reporting Manual
- SEC approves PCAOB standards for broker-dealer audits and supplemental information
- FASB meetings and project updates
- COSO issues paper on how COSO Frameworks improve organizational performance and 
  governance
- CFTC issues final rule on customer funds held by Future Commission Merchants
- IFRIC Update - January 2014

SEC comment letter trends

SEC comment letter trends grouped by selected industry and accounting topic
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.

Regulations

Conflict minerals: Where do you stand? Take PwC's survey.
First filings for the SEC's conflict minerals rule are due May 31, 2014, and companies continue to face challenges with respect to their compliance efforts. We are fielding a survey to gauge where companies stand and encourage you to participate. The survey closes March 1, and we will share survey results in a forthcoming report so you can benchmark your company against others of your size and in your industry.
Survey: https://surveycenter1.pwc.com/Community/se.ashx?s=2511374538D46F41

Mergers and acquisitions

Private Company Platforms - NYSE ACE Portal & NASDAQ Private Market (Observations from the front lines)
The broadening of private company securities sales has helped drive the development of two new offerings from the NYSE and NASDAQ OMX. Both solutions, although different in approach and focus, are designed to provide a platform and market structure for private companies to manage and conduct the sale of private company securities.

2013 US Capital Markets Watch - analysis and trends
Welcome to PwC's inaugural 2013 US Capital Markets Watch. Reflecting the integrated nature of capital markets, we have broadened the discussion beyond Initial Public Offerings (IPOs) to include the equity follow-on market, the convertible market, debt markets, and spin-offs.

Strategy and operations

Profitability 2.0: A bigger vision than just cost-cutting
Ongoing economic challenges have prompted most companies to seek further ways to trim their operating costs: A tall order for businesses that thought they'd done all they could in that vein. Meanwhile, businesses are also intent on growth. Reconciling the need to trim with the need to grow entails working through a much more complex set of considerations than in the past. In short, many companies will have to do things differently if they're to boost their profitability. See how in this latest issue of Growing Your Business.

Private companies

Trendsetter Barometer™ - Private companies eye substantial revenue growth in 2014, expect to outperform GDP forecast
We spoke to over 200 private-company leaders about what they envision for the year ahead. They told us they're more optimistic about the economy, have ambitious revenue goals, and plan to hire new workers in 2014. Read our report to hear what else they're planning for the year ahead.

Tax

US and global information reporting and withholding: Looking ahead to 2014 and beyond
This Tax Insight highlights some key US information reporting requirements for 2014 with respect to the Foreign Account Tax Compliance Act (FATCA). Some 2014 filing due dates involving recent non-FATCA changes or developments are also included. In addition, the discussion includes a non-exhaustive list of other potential information reporting and withholding requirements looming on the horizon beyond 2014.

Power and utilities

Power and Utilities Alert 2014-4: Accounting for rate-regulated activities under IFRS
The International Accounting Standards Board (IASB) issued International Financial Reporting Standard 14, Regulatory Deferral Accounts (IFRS 14), an interim standard on the accounting for certain balances that arise from rate-regulated activities.

Webcasts

Webcast: Q1 Current Accounting and Reporting Developments - March 18
Our quarterly webcast is designed to keep you informed about emerging accounting, regulatory, and market developments impacting financial reporting. The webcast will 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.

Webcast: Does your risk management function also drive company performance? It should... - March 14
The Entertainment, media and communications sector webcast will explore the characteristics and best practices in monitoring and managing key risks, and link these practices to the strategic, operational and financial business imperatives.

View our upcoming and archived PwC webcasts 

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