transcript   Transcript

What’s New in Accounting and Financial Reporting?

Recorded on: Nov. 13, 2017
Running Time: 01:02:05

Full Transcript:



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Taken from the Web Program 49th Annual Institute on Securities Regulation recorded November 2017

What’s New in Accounting and Financial Reporting? [01:02:05]

  • Where are we with non-GAAP financial measures?
  • Preparing for new GAAP:  revenue recognition, leasing and financial instruments
  • Drilling down on contingencies
  • PCAOB update, including new expanded auditor's report standard and new Form AP
  • Lessons from SEC comment letters

Moderator: John W. White
Speakers: Wesley R. Bricker, Loretta V. Cangialosi, Michael J. Gallagher, Mark Kronforst

(CPE Field of Study: Accounting)

The purchase price of this Web Program segment includes the following article from the Course Handbook available online:

  • Updated Non-GAAP CDIs (May 17, 2016)
    John W. White
  • Patrick Higgins and Kevin Garry, PwC, In Brief, No. US2016-22, SEC Updates Interpretive Guidance on Non-GAAP Financial Measures (May 19, 2016)
    John W. White
  • Paula Loop and Terry Ward, PwC, Government Insights Center, ACES (Audit Committee Excellence Series), To GAAP or Non-GAAP? The SEC is Watching (June 2016)
    John W. White
  • Beth Paul and John May, PwC, Point of View, Building Confidence in Non-GAAP Measures and Other KPIs (May 2016)
    John W. White
  • Allergan Comment Chain (Intelligize, a LexisNexis company, March 24, 2017)
    John W. White
  • Center for Audit Quality, Questions on Non-GAAP Measures: A Tool for Audit Committees (June 2016)
    John W. White
  • Center for Audit Quality, Non-GAAP Financial Measures, Continuing the Conversation (December 2016)
    John W. White
  • Derryck Coleman and Mercedes Erickson, Audit Analytics, A Look at Non-GAAP Reporting after New SEC Guidance (January 5, 2017)
    John W. White
  • Mary Jo White, Chair, SEC, Keynote Address at the 2015 AICPA National Conference: “Maintaining High-Quality, Reliable Financial Reporting: A Shared and Weighty Responsibility” (December 9, 2015)
    John W. White
  • Mary Jo White, Chair, SEC, Keynote Address, International Corporate Governance Network Annual Conference: Focusing the Lens of Disclosure to Set the Path Forward on Board Diversity, Non-GAAP, and Sustainability (June 27, 2016)
    John W. White
  • Wesley R. Bricker, Chief Accountant, SEC, Keynote Address Before the 2016 AICPA Conference on Current SEC and PCAOB Developments, Working Together to Advance High Quality Information in the Capital Markets (December 5, 2016)
    John W. White
  • Wesley R. Bricker, Chief Accountant, SEC, Remarks Before the 2017 Baruch College Financial Reporting Conference: “Advancing Our Capital Markets with High-Quality Information” (May 4, 2017)
    John W. White
  • Sylvia E. Alicea, Professional Accounting Fellow, Office of the Chief Accountant, SEC, Remarks Before the Bloomberg BNA Conference on Revenue Recognition (May 8, 2017)
    John W. White
  • Wesley R. Bricker, Chief Accountant, SEC, Remarks Before the Annual Life Sciences Accounting & Reporting Congress: “Advancing Effective Internal Control and Credible Financial Reporting” (March 21, 2017)
    John W. White
  • Wesley R. Bricker, Deputy Chief Accountant, SEC, Remarks Before the 35th Annual SEC and Financial Reporting Institute Conference (June 9, 2016)
    John W. White
  • Wesley R. Bricker, Deputy Chief Accountant, Office of the Chief Accountant, SEC, Remarks Before the 2016 Baruch College Financial Reporting Conference (May 5, 2016)
    John W. White
  • Brett Cohen and Bill Coffey, PwC, In Brief, No. US2016-21, FASB Proposes Technical Corrections to the New Revenue Standard (May 19, 2016)
    John W. White
  • PwC, Point of View, Preparing for the New Revenue Standard—Are You Ready? (December 2015)
    John W. White
  • Center for Audit Quality, Preparing for the New Revenue Recognition Standard (December 2016)
    John W. White
  • Olga Usvyatsky and Derryck Coleman, Audit Analytics, Early Adoption of ASC 606: First Glance (December 22, 2016)
    John W. White
  • Olga Usvyatsky and Derryck Coleman, Audit Analytics, Six Months to New Revenue Standard Deadline (June 8, 2017)
    John W. White
  • John Bishop, Ashima Jain and Chad Soares, PwC, In Depth, No. US2016-02, The Leasing Standard, A Comprehensive Look at the New Model and Its Impact (March 2, 2016)
    John W. White
  • PwC, 10 Minutes on the New US Lease Standard (August 2016)
    John W. White
  • PwC, Impacts of the New Leasing Standard—Beyond Accounting (November 2016)
    John W. White
  • Brian Staniszewski, Professional Accounting Fellow, Office of the Chief Accountant, SEC, Remarks Before the 2016 AICPA National Conference on Current SEC and PCAOB Developments (December 5, 2016)
    John W. White
  • John Althoff, Chip Currie and Edward Lee, PwC, In Depth, No. US2016-07, The FASB’s New Financial Instruments Impairment Model (July 11, 2016)
    John W. White
  • John Althoff, Chip Currie, Jeffrey Joseph and Michael Kelly, PwC, In Depth, No. US2016-01, New Guidance on Recognition and Measurement to Impact Financial Instruments (January 29, 2016)
    John W. White
  • FASB ASC 450-20
    John W. White
  • FASB Master Glossary—Loss Contingency (Definition)
    John W. White
  • PwC, Financial Statement Presentation, Chapter 23: Commitments, Contingencies, and Guarantees
    John W. White
  • Complaint, SEC v. RPM Int’l Inc., No. 1:16-cv-01803 (D.D.C. Sept. 9, 2016)
    John W. White
  • U.S. Securities and Exchange Commission, SEC Litigation Release No. 23639, SEC Charges RPM International Inc. and its General Counsel for Disclosure and Accounting Failures (September 9, 2016)
    John W. White
  • Order Instituting Cease-and-Desist Proceedings Pursuant to Section 21C of the Securities Exchange Act of 1934, Making Findings and Imposing a Cease-and-Desist Order, In re General Motors Company, Exchange Act Release No. 79825 (SEC Jan. 18, 2017)
    John W. White
  • U.S. Securities and Exchange Commission, Press Release, No. 2017-19, General Motors Charged with Accounting Control Failures (January 18, 2017)
    John W. White
  • Stericycle Inc., Comment Chain
    John W. White
  • Public Company Accounting Oversight Board, Improving the Transparency of Audits: Rules to Require Disclosure of Certain Audit Participants on a New PCAOB Form and Related Amendments to Auditing Standards, PCAOB Release No. 2015-008, PCAOB Rulemaking Docket Matter No. 029 (December 15, 2015)
    John W. White
  • PCAOB News Release, PCAOB Adopts Rules Requiring Disclosure of the Engagement Partner and Other Audit Firms Participating in an Audit (December 15, 2015)
    John W. White
  • PCAOB, Fact Sheet: Disclosure of Engagement Partner and Certain Other Participants on New PCAOB Form AP
    John W. White
  • Marc Panucci and Randy Hoppe, PwC, In Brief, No. US2015-43, PCAOB Adopts Final Rules to Disclose Name of Partner and Others on New Form (December 18, 2015)
    John W. White
  • Center for Audit Quality, Form AP, Auditor Reporting of Certain Audit Participants (June 2017)
    John W. White
  • Mercedes Erickson, Audit Analytics, A Century of Opinions: Companies with Auditor Tenure Over 100 Years (January 20, 2017)
    John W. White
  • Joey Bonaldi, Audit Analytics, SEC Comment Letters, A Six Year Trend (June 13, 2017)
    John W. White
  • Olga Usvyatsky, Audit Analytics, SEC Comment Letters, Early Returns (January 3, 2017)
    John W. White
  • Jessica McKeon, Audit Analytics, SEC Comment Letters, A Look at Top Issues in 2016 (December 12, 2016)
    John W. White
  • Joey Bonaldi, Audit Analytics, Update on “SEC Comment Letters: A Five Year Trend” (2015) (August 1, 2016)
    John W. White
Presentation Material
  • What’s New in Accounting and Financial Reporting?
    Wesley R. Bricker, Loretta V. Cangialosi, Michael J. Gallagher, Mark Kronforst, John W. White
    (s)
    Wesley R. Bricker ~ Chief Accountant, Office of the Chief Accountant, U.S. Securities and Exchange Commission
    Loretta V. Cangialosi ~ Senior Vice President and Controller, Pfizer Inc.
    Michael J. Gallagher ~ Partner, Vice Chairman of Stakeholders & Client Service , PwC
    Mark Kronforst ~ Partner - Professional Practice , U.S. Securities and Exchange Commission
    John W. White ~ Cravath, Swaine & Moore LLP
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