This week the FASB issued guidance that requires additional disclosures about segment expenses, but also allows flexibility to disclose multiple measures of segment profitability. Our publication explains the new guidance and its implications.

In each episode of our 2023 SEC comment letter trends podcast miniseries, our guests bring you the latest themes in comment letters from the SEC’s Division of Corporation Finance.

This week, host Heather Horn sat down with PwC National Office partner Mike Coleman to discuss common issues noted in the SEC staff’s comments on revenue, and why it consistently remains a top area of focus.

On November 22, the SEC postponed the effective date of its rule amendments that would have required new and expanded disclosures relating to share repurchases. On October 31, an appeals court had sent the SEC share repurchase disclosure rule back to the SEC, giving it 30 days to remedy the deficiencies. That 30-day window closed at midnight on November 30. It is unclear at this time when, if, or in what form the rule would become effective as changes may result from these decisions or the rule may even be vacated by the court. In the interim, entities are required to report share repurchases consistent with existing requirements.

Missed our Q4 2023 Quarterly sustainability webcast? Check out our CPE-eligible replay and register for our year-end accounting webcasts for both US GAAP and IFRS reporters.

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This week the International Accounting Standards Board (IASB) issued an exposure draft, Financial Instruments with Characteristics of Equity, or “FICE.” The exposure draft proposes amendments to address common accounting challenges that arise in practice when applying IAS 32, Financial Instruments: Presentation, to instruments that have both debt and equity features. Comments are due by March 29, 2024.