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PwC's accounting weekly news: October 20, 2023
Publication date: 20 Oct 2023
us Newsletter
This week we highlight updates to three of the 30+ accounting guides in our guide library: Equity method investments and joint ventures and Financial Statement Presentation — to reflect recent FASB guidance on joint venture formations, and Business combinations and noncontrolling interests. Also, we share registration information for several upcoming CPE-eligible webcasts.
Accounting guide updates
To reflect recent FASB guidance on joint venture formations, we’ve updated two of our accounting guides. In August, the FASB issued ASU 2023-05, which requires a newly formed joint venture to apply a new basis of accounting to all of its contributed net assets. For additional resources on the new standard, see our recently updated publication, FASB issues guidance on accounting for joint venture formations.
We've also updated the Business combinations and noncontrolling interests guide to help you navigate pushdown accounting in the separate financial statements of an acquiree.
Our accounting guide library includes over 30 in-depth handbooks on accounting and reporting topics. Access them digitally or download the full guide PDFs on Viewpoint.
Mandatory sustainability reporting requirements are looming in the European Union. Deciding the best approach to CSRD reporting will be driven by multiple company-specific factors. Read our publication for insights on how to think through the assessment.
Host Heather Horn was joined by Will Jackson-Moore, PwC’s Global Sustainability Leader, to discuss some of the themes that emerged from New York City Climate Week.
Host Heather Horn was joined by Sammy Lakshmanan, principal in PwC’s Sustainability Consulting Solutions practice, to discuss the ways that leading companies are integrating technology into their sustainability reporting work plans.
“Technology takes time, investment, and resources to implement. It's better for preparers to start thinking about technology now, and likewise IT departments need to understand the sustainability reporting requirements.” - Sammy Lakshmanan, PwC principal
PwC’s CPE-eligible webcasts
Mark your calendars for our upcoming webcasts:
- Q4 2023 Quarterly sustainability webcast—11/9 or 11/15
Sustainability reporting is mandatory in a growing number of countries; we help you stay current. Join our sustainability specialists for discussion of the latest ESG accounting and reporting developments in the US and abroad. Register to earn up to 1.5 CPE credits. - Q4 2023 Quarterly accounting webcast—12/13, 12/15, or 12/19
Join our quarterly webcast to hear key accounting and reporting reminders as companies close out the year. Register to earn up to 1.5 CPE credits. - Health industries accounting hot topics webcast—12/14
Join us for a webcast specific to Health industries that builds on the content in our core quarterly accounting webcast. Register to earn up to 1.5 CPE credits. - Harnessing AI for Trusted Business Results webcast—11/1
Find out how to increase the benefits of using AI while avoiding missteps. Register to earn up to 1 CPE credit.
Carbon pricing mechanisms impose costs that are deeply—and subtly—embedded in supply chains, affecting companies’ profitability and competitiveness. Read our latest article to learn how leading companies are factoring these costs into business decisions to create long-term value.
How does supply chain affect sustainability? 92% of executives polled in PwC’s 2023 Digital Trends in Supply Chain Survey agree supply chain strategy and operations are important to executing ESG strategy. Our resource page explores three questions that companies should consider before making any changes to their supply chains.
Reminders and key dates
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October 25
| The C-Suite playbook: Putting security at the epicenter of innovation webcast (CPE eligible)
Register here |
October 30
| Deadline to comment on the FASB’s Proposed Accounting Standards Update, Disaggregation of Income Statement Expenses
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November 1
| Harnessing AI for Trusted Business Results webcast (CPE eligible)
Register here |
November 3
| Deadline to comment on the PCAOB’s proposal, Responsibility Not to Knowingly or Recklessly Contribute to Violations
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November 7
| 2023 Current Developments for Insurance Companies webcast (CPE eligible)
Register here |
November 9 or 15
| Q4 2023 Quarterly sustainability webcast (CPE eligible)
Register here |
November 10
| Public Roundtable on FASB’s Post-Implementation Review of Topic 606, Revenue from Contracts with Customers
Register here |
December 13, 15, or 19 [Updated]
| Q4 2023 Quarterly accounting webcast (CPE eligible)
Register here |
December 13
| Public Roundtable on FASB’s proposed Accounting Standards Update, Disaggregation of Income Statement Expenses
Register here |
December 14
| Health industries accounting hot topics webcast (CPE eligible)
Register here |
January 5, 2024
| Deadline to comment on GASB’s Proposed Statement, Disclosure and Classification of Certain Capital Assets
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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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