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PwC's accounting weekly news: January 12, 2024
Publication date: 12 Jan 2024
us Newsletter
“Even though we face the difficulties of today and tomorrow, I still have a dream.” - Martin Luther King, Jr.
To help navigate the year-end accounting and reporting process, be sure to add our latest Year-end toolkit podcast episodes on assessing materiality and working with the audit committee to your playlist. Looking for more resources? Access our full accounting and reporting guide library on Viewpoint (or the new Viewpoint app).
Our Year-end toolkit series continues with guest host Kyle Moffat, PwC National Office Professional Practice leader, and Michael Mullen, PwC US Trust Solutions Quality Management leader, discussing how to navigate materiality judgments in a challenging financial environment with an increased risk of fraud and error.
“If I were a preparer, I'd be really focused on how I can continuously improve my controls and processes. This will sound like motherhood and apple pie, but try to avoid having errors in the first place.” - Mike Mullen, PwC US Trust Solutions Quality Management leader
In the next episode of our Year-end toolkit series, guest host Kyle Moffatt talks with Stephen Parker, a partner in PwC’s Governance Insights Center, about how finance teams can effectively communicate with those charged with governance and share insights on key areas of focus for audit committees.
Want more on governance? Stay current with our paper on 5 trends impacting effective oversight.
CPE-eligible National Office webcasts continue next week
IFRS® Accounting Standards reporters: Join us on January 18 for year-end accounting and reporting reminders as well as an update on recent activities at the International Accounting Standards Board and a preview of what to expect in IFRS reporting in 2024. Register to earn up to 1 CPE credit.
For more IFRS content, listen to our recent IFRS update podcast.
And, if you missed our Q4 2023 Quarterly accounting webcast, check out our CPE-eligible replay as well as our National Office Accounting and reporting webcasts page on Viewpoint for the full library.
Updated: Crypto assets guide
We explain the accounting for crypto assets in scope of the FASB's new ASU in our updated Crypto assets guide. Download the full guide PDF or access it online in Viewpoint.
For additional information, read our publication, FASB issues guidance on accounting for crypto assets.
European Union regulations beyond CSRD
We have updated our publication, European Union regulations beyond CSRD, and an accompanying audio version, for the latest developments on how EU regulations beyond the Corporate Sustainability Reporting Directive (CSRD) — many of which may already be applicable — could impact both EU and non-EU companies.
Tax plays a critical role in business discussions during times of significant policy risks. Business leaders looking for stability and certainty in planning investments instead are being confronted with an array of forces injecting instability across the tax policy landscape. Read our tax policy outlook for our advice.
Here’s what we’re following
On January 8, the GASB issued GASB Statement 102, Certain Risk Disclosures. The new guidance requires disclosure of certain concentrations and constraints that may result in a substantial impact to a government's ability to acquire resources or control spending as well as actions the government has taken prior to issuance of the financial statements to mitigate the risk. GASB 102 is effective for fiscal years beginning after June 15, 2024.
Key dates
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January 17
| Tax Readiness: 2024 Tax Policy Outlook webcast (CPE eligible)
Register here |
January 18
| IFRS year-end accounting webcast (CPE eligible)
Register here |
January 25
| Executive perspectives: How transactions and transformation together achieve value creation webcast
Register here |
January 29
| Deadline to comment on AICPA exposure draft, Proposed criteria for the presentation of the sufficiency of assets for redemption
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February 2
| Deadline to comment on EFRAG proposed implementation guidance
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February 14
| Leading with Trust: CEO Outlook for 2024 webcast (CPE eligible)
Register here |
February 15 or March 5
| Q1 2024 Quarterly sustainability webcast (CPE eligible)
Register here |
March 13, 19, or 28
| Q1 2024 Quarterly accounting webcast (CPE eligible)
Register here |
March 18
| Deadline to comment on FASB proposed ASU, Debt with Conversion and Other Options
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PwC. All rights reserved. PwC refers to the US member firm or one of its subsidiaries or affiliates, and may sometimes refer to the PwC network. Each member firm is a separate legal entity. Please see www.pwc.com/structure for further details. This content is for general information purposes only, and should not be used as a substitute for consultation with professional advisors.
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