Avsnitt
-
Text us your thoughts on this episode
We kick off our miniseries on foreign currency accounting with an episode on determining functional currency, which is the currency of the primary economic environment in which a distinct and separable operation operates.
03:52 – Identifying distinct and separable operations19:01 – Determining functional currency25:45 – Common pitfalls in evaluating functional currency 37:37 – Changes in functional currency40:19 – Highly inflationary economies
In this episode, we discuss:For more information, see chapter 3 of our Foreign currency guide. Additionally, follow this podcast on your favorite podcast app for more episodes.
Bret Dooley is a Deputy Chief Accountant in PwC’s National Office who leads teams focused on the financial services sectors and accounting for financial instruments. He has over 25 years of experience in the financial services, banking, and capital markets industries. Bret focuses on emerging financial reporting issues related to financial instruments, developing interpretive guidance, and assisting clients in resolving complex accounting matters.
John Horan is a managing director in PwC’s National Office where he assists clients with complex accounting issues in the areas of foreign currency, liabilities and equity, earnings per share, and derivatives and hedging. John specializes in large capital transactions and initial public offerings.
Heather Horn is PwC’s National Office thought leader, responsible for developing our communications strategy and conveying firm positions on accounting and financial reporting matters. She is the engaging host of PwC’s accounting and reporting weekly podcast and quarterly webcast series. With over 30 years of experience, Heather’s accounting and auditing expertise includes financial instruments and rate-regulated accounting.
Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to [email protected]. -
Text us your thoughts on this episode
We continue our miniseries on stock-based compensation awards with a focus on 5 important things for private companies to know. This is an area for which the accounting tends to be more complicated for nonpublic companies.
3:12 – Measurement of liability-classified awards5:59 – Secondary market transactions16:39 – Profit sharing arrangements22:44 – Equity restructurings31:25 – Recourse and nonrecourse loans
In this episode, we discuss:
For more information, see chapter 6 of our Stock-based compensation guide. Also, check out our other episode in this miniseries, Stock-based compensation - 5 things to know about modifications. Additionally, follow this podcast on your favorite podcast app for more episodes.
Ken Stoler is a partner in PwC’s National Office who specializes in financial reporting and plan design issues related to equity compensation arrangements, retirement and healthcare plans, and other benefits. He has helped companies navigate their employee compensation issues during IPOs, spin offs, acquisitions, and other major transactions or events.
Heather Horn is the PwC National Office Sustainability & Thought Leader, responsible for developing our communications strategy and conveying firm positions on accounting, financial reporting, and sustainability matters. In addition, she is part of PwC’s global sustainability leadership team, developing interpretive guidance and consulting with companies as they transition from voluntary to mandatory sustainability reporting. She is also the engaging host of PwC’s quarterly webcast series.
Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to [email protected]. -
Saknas det avsnitt?
-
Text us your thoughts on this episode
We kick off our miniseries on stock-based compensation with a focus on 5 important things to know when accounting for modifications to stock-based compensation awards.
2:40 – How to determine whether a change in terms or conditions should be accounted for as a modification5:00 – The stock-based compensation modification framework8:29 – Four types of modifications related to vesting conditions18:39 – Modifications that change classification22:15 – Modifications of performance conditions
In this episode, we discuss:For more information, see chapter 4 of our Stock-based compensation guide. Additionally, follow this podcast on your favorite podcast app for more episodes.
Ken Stoler is a partner in PwC’s National Office who specializes in financial reporting and plan design issues related to equity compensation arrangements, retirement and healthcare plans, and other benefits. He has helped companies navigate their employee compensation issues during IPOs, spin offs, acquisitions, and other major transactions or events.
Heather Horn is the PwC National Office Sustainability & Thought Leader, responsible for developing our communications strategy and conveying firm positions on accounting, financial reporting, and sustainability matters. In addition, she is part of PwC’s global sustainability leadership team, developing interpretive guidance and consulting with companies as they transition from voluntary to mandatory sustainability reporting. She is also the engaging host of PwC’s quarterly webcast series.
Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to [email protected]. -
Text us your thoughts on this episode
We continue our miniseries on software costs. They are accounted for using two different models depending on whether the software is used internally or externally. In this episode, we discuss the internal-use model applicable to software developed or obtained to meet the reporting entities’ internal needs.
3:24 – The scope of internal-use software10:29 – The three stages of software development14:07 – Cloud computing arrangements17:50 – Practical challenges in applying this model25:05 – An overview and update on the FASB's current software costs project
In this episode, we discuss:For more information, see chapter 3 of our Software costs guide. Also, check out our other episode in this miniseries, Accounting for the cost of externally marketed software. Additionally, follow this podcast on your favorite podcast app for more episodes.
Mike Coleman is a partner in PwC's National Office who specializes in accounting for revenue and software arrangements and has served technology clients for much of his career. In addition, Mike has represented the firm on the AICPA Software Task Force.
Pat Durbin is a Deputy Chief Accountant in PwC’s National Office. He has over 30 years of experience consulting with our clients and engagement teams on complex accounting matters, including issues related to revenue, compensation, income taxes, and inventory under both US GAAP and IFRS.
Heather Horn is the PwC National Office Sustainability & Thought Leader, responsible for developing our communications strategy and conveying firm positions on accounting, financial reporting, and sustainability matters. In addition, she is part of PwC’s global sustainability leadership team, developing interpretive guidance and consulting with companies as they transition from voluntary to mandatory sustainability reporting. She is also the engaging host of PwC’s quarterly webcast series.
Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to [email protected]. -
Text us your thoughts on this episode
We kick off our miniseries on software costs. They are accounted for using two different models depending on whether the software is used internally or externally. In this episode we focus on the external use model applicable to software to be sold, leased, or otherwise marketed as a separate product or embedded within a product or process.
3:20 – How to determine whether the internal use or externally-marketed software models apply 10:08 – An overview of the externally marketed software model (ASC 985-20)11:25 – When technological feasibility of software is established19:55 – The types of costs capitalized under the model for externally marketed software22:40 – Practical challenges in applying the externally marketed software model27:55 – Applying the guidance to Artificial Intelligence (AI) 31:10 – An update on the FASB’s software costs project
In this episode, we discuss:For more information, see chapter 2 of our Software costs guide. Additionally, follow this podcast on your favorite podcast app for more episodes.
Mike Coleman is a partner in PwC's National Office who specializes in accounting for revenue and software arrangements and has served technology clients for much of his career. In addition, Mike has represented the firm on the AICPA Software Task Force.
Pat Durbin is a Deputy Chief Accountant in PwC’s National Office. He has over 30 years of experience consulting with our clients and engagement teams on complex accounting matters, including issues related to revenue, compensation, income taxes, and inventory under both US GAAP and IFRS.
Heather Horn is the PwC National Office Sustainability & Thought Leader, responsible for developing our communications strategy and conveying firm positions on accounting, financial reporting, and sustainability matters. In addition, she is part of PwC’s global sustainability leadership team, developing interpretive guidance and consulting with companies as they transition from voluntary to mandatory sustainability reporting. She is also the engaging host of PwC’s quarterly webcast series.
Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to [email protected]. -
Text us your thoughts on this episode
Named the year of global elections, 2024 will see more than 50 countries with over half of the world’s population exercise their right to vote. On today’s episode, host Heather Horn reunites with Craig Stronberg from PwC Intelligence to discuss the depth of the 2024 elections – not just in the US but worldwide – and the downstream impacts they could have, including what companies need to consider when making business decisions. Hear what Craig has to say companies should be focused on now as the international spotlight shifts towards the United States.
01:46 – The significance of the year of global consequential election 04:15– The impacts of recent European elections 08:31 – Global elections beyond Europe that could have notable outcomes, including Mexico and Bangladesh 14:16–What a company should know about a country when assessing market entry on both a macro and tactical level, including the history of transitions of power 17:03 – The interplay of the global elections and how the US election is a catalyst 33:10 – What companies can do now in advance of the upcoming US election
In this episode, they discuss:Craig Stronberg, a senior director in PwC Intelligence, develops forward-looking analysis on macroeconomic, geopolitical, and global issues to help leaders solve complex business problems. Prior to PwC, Craig had a nearly 20-year career in national security affair s where his areas of focus included global risk, cyber, counterterrorism and counterintelligence.
Heather Horn is PwC’s National Office thought leader, responsible for developing our communications strategy and conveying firm positions on accounting and financial reporting matters. She is the engaging host of PwC’s accounting and reporting weekly podcast and quarterly webcast series. With over 30 years of experience, Heather’s accounting and auditing expertise includes financial instruments and rate-regulated accounting.
Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to [email protected]. -
Text us your thoughts on this episode
This episode is your one-stop shop covering the latest reporting and rulemaking developments at the SEC. With almost 40 years of combined experience at the SEC, our guests, National Office partners Kyle Moffatt and Kevin Vaughn, share their insights on all things SEC.
2:10 – Potential impacts of a change in presidential administration5:40 – The SEC's rulemaking agenda7:28 – Recent court actions impacting the SEC21:10 – Non-GAAP measures29:00 – Cybersecurity37:24 – Artificial intelligence41:33 – Other SEC focus areas46:36 – 90 years of history at the SEC
In this episode, we discuss:For more information on topics discussed during the podcast see our publications To GAAP or to non-GAAP, SEC adopts cybersecurity disclosure rules, and SEC comment letter trends. For more on the SEC’s 90 year history, follow the SEC on LinkedIn. Also, for more of our episodes follow this podcast on your favorite podcast app.
Kyle Moffatt is PwC’s Professional Practice leader, leading a team responsible for working with standard setters and regulators as well as delivering brand-defining thought leadership and educational materials. He also consults with engagement teams and audit clients on SEC reporting matters. Before PwC, Kyle spent almost 20 years with the SEC, most recently as Chief Accountant and Disclosure Program Director in the Division of Corporation Finance.
Kevin Vaughn is a partner in PwC’s National Office. Prior to joining PwC, Kevin was senior associate chief accountant in the Office of the Chief Accountant (OCA) at the SEC where he spent almost 20 years focusing on complex financial reporting and technical accounting issues.
Heather Horn is the PwC National Office Sustainability & Thought Leader, responsible for developing our communications strategy and conveying firm positions on accounting, financial reporting, and sustainability matters. In addition, she is part of PwC’s global sustainability leadership team, developing interpretive guidance and consulting with companies as they transition from voluntary to mandatory sustainability reporting. She is also the engaging host of PwC’s quarterly webcast series.
Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to [email protected]. -
Text us your thoughts on this episode
There continues to be a significant amount of activity at a high velocity as it relates to the Inflation Reduction Act (IRA). In this episode, host Heather Horn welcomes back Matt Haskins, principal in PwC's Washington National Tax Services group, who focuses on renewable energy transactions, to discuss the latest IRA developments and what is on the horizon in this election year and beyond. Find out where companies should be focusing their efforts now and how to prepare for any changes that may come. Spoiler alert – stay the course.
3:30– With even more IRA developments, what companies should focus on now, including transferability of tax credits 6:48 – Meeting the prevailing wage and apprenticeship requirements to unlock the full value of the IRA10:57 – Additional IRS guidance on domestic content requirements13:56 – The latest developments on Section 48C credits19:00 – Changes to expect after Election Day31:25 – Impact of the US Supreme Court overturning the Chevron doctrine37:55 – Advice for companies navigating changes in the IRA
In this episode, they discuss:Looking for more on renewable energy credits?
Talking ESG: Taking advantage of Inflation Reduction Act incentivesIn depth: Accounting for Inflation Reduction Act energy incentivesObligations, next steps from clean electricity guidanceApplications open for $6 billion in energy creditsCertainty, relief in new energy credit rulesFor more information on the US Supreme Court overruling the Chevron doctrine:
Potential tax implications of the US Supreme Court overruling the Chevron doctrineMatt Haskins is a principal in PwC’s Washington National Tax Services group, focusing on renewable energy financing and M&A transactions. In addition to writing and speaking on issues in the renewable energy industry, Matt has co-chaired the energy and environmental taxes working group for the US Council on International Business and served as a delegate for key energy initiatives of the Organization for Economic Cooperation and Development.
Heather Horn is PwC’s National Office thought leader, responsible for developing our communications strategy and conveying firm positions on accounting and financial reporting matters. She is the engaging host of PwC’s accounting and reporting weekly podcast and quarterly webcast series. With over 30 years of experience, Heather’s accounting and auditing expertise includes financial instruments and rate-regulated accounting.
Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to [email protected]. -
Text us your thoughts on this episode
We conclude our revenue miniseries with an episode on collaborative arrangements, which has its own guidance (ASC 808, Collaborative Arrangements) but also often interacts with other guidance, including that on revenue from contracts with customers.
4:55 – Criteria to meet the definition of a “collaborative arrangement”16:20 – An overview of the collaborative arrangement accounting model20:27 – Application of an accounting policy for recognition and presentation 25:04 – Timing of recognition, presentation, and disclosure32:42 – Other areas of GAAP that may apply to the arrangement
In this episode, we discuss:For more information, see section 2.4.1 of our Revenue guide. Also, check out other episodes in our miniseries: Modifying a contract? Your revenue recognition may change, Gross versus net revenue: Is your company the principal or agent?, and Identifying the contract – The first step in recognizing revenue. Additionally, follow this podcast on your favorite podcast app for more episodes.
Angela Fergason is a partner and standard setting leader in PwC's National Office who specializes in accounting for revenue and employee compensation arrangements. She also consults on a range of financial reporting issues impacting technology companies.
Christine Moore is a director in PwC’s Deals practice, advising audit and non-audit clients on complex accounting and financial reporting matters. She recently completed a tour with the National Office where she advised on revenue arrangements for public and private companies across various industries, with a focus on companies in the pharmaceutical and life sciences industry.
Heather Horn is the PwC National Office Sustainability & Thought Leader, responsible for developing our communications strategy and conveying firm positions on accounting, financial reporting, and sustainability matters. In addition, she is part of PwC’s global sustainability leadership team, developing interpretive guidance and consulting with companies as they transition from voluntary to mandatory sustainability reporting. She is also the engaging host of PwC’s quarterly webcast series.
Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to [email protected]. -
Text us your thoughts on this episode
This week, host Heather Horn is joined by a special guest from the International Sustainability Standards Board (ISSB). Vice Chair, Sue Lloyd gives us an inside look into the ISSB’s workplan, new projects, and new strategic relationships. She also shares how the ISSB is supporting implementation of the standards.
4:15 – Insights from the adoption of ISSB standards around the world9:20 – Variability of sustainability reporting and interoperability guidance19:08 – Challenges reporting under multiple frameworks and ISSB partnerships to address them25:31 – Responsibilities to report under other frameworks, such as California SB 261 (based on TCFD)29:41 – Working to address investor needs and concerns31:35 – Aligning ISSB reporting and sector standards35:10 – How the ISSB is supporting implementation38:40 – Advice for companies navigating the evolving sustainability reporting landscape
In this episode, they discuss:Want to hear more about the ISSB? Listen to our previous podcast discussing the ISSB standards and interoperability guidance. Also, as referenced in the podcast, check out the ISSB’s Webcast: Overview of ESRS-ISSB Standards Interoperability Guidance or visit the IFRS Sustainability knowledge hub.
Sue Lloyd is the Vice Chair of the ISSB and played a leading role in its establishment. Previously, she served as a member and Vice Chair of the International Accounting Standards Board (IASB) and as Chair of the IFRS Interpretations Committee.
Heather Horn is the PwC National Office Sustainability & Thought Leader, responsible for developing our communications strategy and conveying firm positions on accounting, financial reporting, and sustainability matters. In addition, she is part of PwC’s global sustainability leadership team, developing interpretive guidance and consulting with companies as they transition from voluntary to mandatory sustainability reporting. She is also the engaging host of PwC’s quarterly webcast series.
Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to [email protected]. -
Text us your thoughts on this episode
We continue our revenue podcast miniseries discussing contract modifications. Contract modifications are accounted for as either a separate contract or as part of the existing contract, depending on the nature of the modification.
4:47 – An overview of contract modifications 5:57 – Modifications that are accounted for as separate contracts 6:54 – Modifications that are accounted for prospectively 10:08 – Modifications that result in cumulative catch-up adjustments 11:28 – Other types of modifications 13:16 – Common contract modification scenarios and related accounting pitfalls 23:22 – Contract terminations
In this episode, we discuss:For more information, see section 2.9 of our Revenue guide. Also, check out other episodes in our miniseries: Gross versus net revenue: Is your company the principal or agent? and Identifying the contract – The first step in recognizing revenue. Additionally, follow this podcast on your favorite podcast app for more episodes.
Pat Durbin is a Deputy Chief Accountant in PwC’s National Office. He has over 30 years of experience consulting with our clients and engagement teams on complex accounting matters, including issues related to revenue, compensation, income taxes, and inventory under both US GAAP and IFRS.
Angela Fergason is a partner and standard setting leader in PwC's National Office who specializes in accounting for revenue and employee compensation arrangements. She also consults on a range of financial reporting issues impacting technology companies.
Heather Horn is the PwC National Office Sustainability & Thought Leader, responsible for developing our communications strategy and conveying firm positions on accounting, financial reporting, and sustainability matters. In addition, she is part of PwC’s global sustainability leadership team, developing interpretive guidance and consulting with companies as they transition from voluntary to mandatory sustainability reporting. She is also the engaging host of PwC’s quarterly webcast series.
Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to [email protected]. -
Text us your thoughts on this episode
This episode provides an overview of the new standard from the International Accounting Standards Board, the IASB. IFRS 18 is the new standard on presentation and disclosure in financial statements, with a focus on updates to the income statement. This is a significant development in IFRS financial reporting - even companies not reporting under IFRS will want to be aware of these updates.
1:10 – An overview of the new standard5:00 – Aggregation and disaggregation (impacting all primary financial statements and notes)9:00 – Structural changes to the statement of profit or loss18:25 – Getting started with implementation and the timeline21:19 – Management-defined performance measures
In this episode, we discuss:For more information, read our publication, IFRS 18 is here: redefining financial performance reporting. Additionally, follow this podcast on your favorite podcast app for more episodes.
Gary Berchowitz is the non-financial instruments leader in PwC’s Global Assurance Quality - Corporate Reporting Services group. Gary brings years of financial accounting experience, working to drive quality and connectivity throughout the PwC network and help local teams solve complex accounting issues in a practical way. Gary contributes to the firm’s global view on a variety of financial reporting matters.
Heather Horn is the PwC National Office Sustainability & Thought Leader, responsible for developing our communications strategy and conveying firm positions on accounting, financial reporting, and sustainability matters. In addition, she is part of PwC’s global sustainability leadership team, developing interpretive guidance and consulting with companies as they transition from voluntary to mandatory sustainability reporting. She is also the engaging host of PwC’s quarterly webcast series.
Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to [email protected]. -
Text us your thoughts on this episode
Our revenue miniseries continues with identifying the contract, the first step in the five-step model in the revenue standard. It's important to get this step right to appropriately apply the model for recognizing revenue.
4:10 – The five criteria to have a contract with a customer under the revenue standard 8:23 – The impact of master services agreements and enforceable rights16:03 – Assessing collectibility of the consideration in the contract27:08 – Determining the contract term
In this episode, we discuss:For more information, read chapter 2 of our Revenue guide. Also, to hear more on revenue topics, listen to the first episode in this miniseries, Gross versus net revenue: Is your company the principal or agent?. Additionally, follow this podcast on your favorite podcast app for more episodes.
Mike Coleman is a partner in PwC's National Office with over 30 years of experience. Mike specializes in accounting for revenue and software arrangements and has served technology clients for much of his career. In addition, Mike has represented the firm on the AICPA Software Task Force.
Pat Durbin is a Deputy Chief Accountant in PwC’s National Office. He has over 30 years of experience consulting with our clients and engagement teams on complex accounting matters, including issues related to revenue, compensation, income taxes, and inventory under both US GAAP and IFRS.
Heather Horn is the PwC National Office Sustainability & Thought Leader, responsible for developing our communications strategy and conveying firm positions on accounting, financial reporting, and sustainability matters. In addition, she is part of PwC’s global sustainability leadership team, developing interpretive guidance and consulting with companies as they transition from voluntary to mandatory sustainability reporting. She is also the engaging host of PwC’s quarterly webcast series.
Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to [email protected]. -
Text us your thoughts on this episode
Host Heather Horn welcomes back Will Evison, a director in PwC UK’s Global Sustainability, Climate, and Nature Strategy practice, to provide an update on the work of PwC’s Centre for Nature Positive Business and discuss the relationship between nature positive business strategy and reporting.
2:18– The purpose and progress of PwC’s Centre for Nature Positive Business 8:57 – The impact of the Corporate Sustainability Reporting Directive adoption on company strategies 10:45 – The importance of nature positive business12:58 – Nature reporting developments, including those related to the European Sustainability Reporting Standards and the Task Force on Nature Related Financial Disclosures (TNFD)23:27 – Insights on how companies can combine nature strategy and reporting28:55 – What’s on the horizon for nature positive business
In this episode, they discuss:Interested in more background on measuring and reporting nature and biodiversity? Listen to our previous podcasts in the “Becoming nature positive” series (Committing, measuring and reporting and Strategizing and implementing) and check out PwC’s global nature hub here.
Also, referenced in the podcast, is the Nature Strategy Handbook developed by Business for Nature in collaboration with PwC UK (official partner of the campaign), as well as Managing natures risks: from understanding to action, a follow-up to an earlier analysis of the nature dependence of industries’ direct operations that was carried out by PwC as part of the World Economic Forum’s New Nature Economy Report Series and published in the Nature Risk Rising report in 2020.
Will Evison is a director in PwC UK’s Global Sustainability, Climate, and Nature Strategy practice, specializing in integrating natural and social capital analysis into decision making. With over 18 years’ experience delivering climate and nature-related projects with businesses, investment firms and public sector organizations across more than 20 countries, he also led the development of PwC’s Total Impact Measurement and Management methodologies (TIMM), and now manages PwC’s global TIMM center of excellence. These methodologies utilize predictive analytics, health economics, and wellbeing techniques to model outcomes.
Heather Horn is the PwC National Office Sustainability & Thought Leader, responsible for developing our communications strategy and conveying firm positions on accounting, financial reporting, and sustainability matters. In addition, she is part of PwC’s global sustainability leadership team, developing interpretive guidance and consulting with companies as they transition from voluntary to mandatory sustainability reporting. She is also the engaging host of PwC’s quarterly webcast series.
Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to [email protected]. -
Text us your thoughts on this episode
This episode begins a podcast miniseries on revenue topics with a discussion of principal versus agent (PvA) or “gross versus net” revenue. In other words, the principal in a transaction records revenue on a gross basis and the agent records revenue net. The PvA analysis can be subjective but it's important to get it right as it can materially impact a key line item in the income statement, revenue from contracts with customers.
2:00 – An overview of the PvA model and reporting impacts8:45 – Key considerations in the PvA analysis9:50 – Assessing control16:25 – Challenges in applying the PvA analysis to specific arrangements, including:16:59 – Healthcare services24:15 – Payment processing30:12 – Additional reminders relating to the PvA analysis and related disclosures
In this episode, we discuss:
For more information, read chapter 10 of our Revenue guide. Additionally, follow this podcast on your favorite podcast app for more episodes.
Mike Coleman is a partner in PwC's National Office with over 30 years of experience. Mike specializes in accounting for revenue and software arrangements and has served technology clients for much of his career. In addition, Mike has represented the firm on the AICPA Software Task Force.
Pat Durbin is a Deputy Chief Accountant in PwC’s National Office. He has over 30 years of experience consulting with our clients and engagement teams on complex accounting matters, including issues related to revenue, compensation, income taxes, and inventory under both US GAAP and IFRS.
Heather Horn is the PwC National Office Sustainability & Thought Leader, responsible for developing our communications strategy and conveying firm positions on accounting, financial reporting, and sustainability matters. In addition, she is part of PwC’s global sustainability leadership team, developing interpretive guidance and consulting with companies as they transition from voluntary to mandatory sustainability reporting. She is also the engaging host of PwC’s accounting and reporting weekly podcast and quarterly webcast series.
Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to [email protected]. -
Text us your thoughts on this episode
This episode dives into valuation relating to goodwill impairments, long-lived asset impairments, and business combinations. We discuss:
1:15 – The meaning of “fair value” in financial reporting5:55 – Valuation considerations and insights related6:20 – Goodwill impairments34:30 – Impairments of long-lived assets42:53 – Business combinationsFor more information, read chapter 7 of our Fair value guide, chapters 2 and 9 of our Business combinations guide, and chapter 5 our Property, plant, equipment and other assets guide. Also, check out another recent podcast related to this topic, Impairment of long-lived assets held and used. Additionally, follow this podcast on your favorite podcast app for more episodes.
Beth Paul is a Deputy Chief Accountant in PwC’s National Office responsible for a team of consultants that specialize in business combinations and related areas, such as consolidations, disposals, impairments, and segment reporting.
Adam Smith is a managing director in PwC’s Deals practice with experience related to performing valuations of businesses, business interests, intangible assets, and derivatives. Adam’s valuation specialization supports a wide range of purposes, including financial reporting, litigation support, corporate planning and consulting, and mergers and acquisitions.
Heather Horn is the PwC National Office Sustainability & Thought Leader, responsible for developing our communications strategy and conveying firm positions on accounting, financial reporting, and sustainability matters. In addition, she is part of PwC’s global sustainability leadership team, developing interpretive guidance and consulting with companies as they transition from voluntary to mandatory sustainability reporting. She is also the engaging host of PwC’s accounting and reporting weekly podcast and quarterly webcast series.
Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to [email protected]. -
Text us your thoughts on this episode
In June 2024, PwC released its 2024 Global Corporate Sustainability Reporting Directive (CSRD) survey, which covers a variety of topics on the current state of companies’ CSRD implementation. In this week’s podcast, host Heather Horn welcomes back Nadja Picard, PwC’s Global Reporting Leader, to dive into the results of the survey conducted in April 2024, including company readiness, data availability, and the use of technology in reporting.
01:55 - Purpose of the 2024 global CSRD survey and demographics of survey participants04:57 - Summary of key topics included in the survey 06:35 - Summary of key insights gained from the survey11:18 - How companies are approaching double materiality16:59 - The two main challenges companies say they are experiencing19:43 - How companies are using tools and technology24:25 - The most surprising result of the survey – companies’ positive perspectives on the benefits of sustainability reporting 28:16 - Takeaways for conversations with key stakeholders35:14 - The key role of senior management36:50 - The importance of setting up data processes and systems to comply with various reporting requirements39:54 - What we will learn from first-time CSRD reporters
In this episode, we discuss:Looking for the latest developments in sustainability reporting? Follow this podcast on your favorite podcast app and subscribe to our weekly newsletter for the latest thought leadership on sustainability standards.
Nadja Picard is PwC’s Global Reporting Leader. In this role, she leads PwC’s global initiative to help clients transform their corporate reporting to meet investor and stakeholder demands for trusted and assured reporting beyond financial reporting. Nadja also advises companies on the accounting, corporate reporting, and investor relations requirements in advance of capital markets transactions, especially IPOs.
Heather Horn is the PwC National Office Sustainability & Thought Leader, responsible for developing our communications strategy and conveying firm positions on accounting, financial reporting, and sustainability matters. In addition, she is part of PwC’s global sustainability leadership team, developing interpretive guidance and consulting with companies as they transition from voluntary to mandatory sustainability reporting. She is also the engaging host of PwC’s accounting and reporting weekly podcast and quarterly webcast series.
Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to [email protected]. -
Text us your thoughts on this episode
This episode covers the latest developments in the world of crypto assets from the current landscape to the regulatory environment to the accounting. In this episode, we discuss:
4:13 – An overview of the market8:42 – US legislative activity related to SEC Staff Accounting Bulletin 12114:30 – Use cases for crypto assets and related technology19:15 – Accounting for crypto assets and recent guidance from the FASB31:15 – Key disclosure requirements36:07 – SEC guidance related to lending arrangements and custodians of crypto assetsFor more information on this topic, read our Crypto assets guide. Additionally, follow this podcast on your favorite podcast app for more episodes.
Kevin Jackson is a partner in PwC’s Capital Markets Accounting Advisory Services practice who assists clients with complex accounting and financial reporting issues. Kevin is also a member of the AICPA's Digital Assets Working Group, which provides interpretive guidance on how to account for digital assets.
Heather Horn is the PwC National Office Sustainability & Thought Leader, responsible for developing our communications strategy and conveying firm positions on accounting, financial reporting, and sustainability matters. In addition, she is part of PwC’s global sustainability leadership team, developing interpretive guidance and consulting with companies as they transition from voluntary to mandatory sustainability reporting. She is also the engaging host of PwC’s accounting and reporting weekly podcast and quarterly webcast series.
Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to [email protected]. -
Text us your thoughts on this episode
PwC provides a summary of the latest accounting, financial reporting, and regulatory updates to support your quarterly reporting.
We begin this edition of The quarter close with a mid-year check-in on SEC comment letter trends. Spoiler alert: non-GAAP financial measures continue to draw the most comments from the SEC staff. We also highlight key considerations for service or supply arrangements that may have embedded leases.
In sustainability reporting news, the SEC stayed its climate disclosure rules in light of pending litigation. However, beyond the SEC’s rules, companies may be subject to a range of sustainability reporting obligations. We keep you informed on the latest developments.
This quarter we spotlight recent international standard-setting activities, including a new IFRS standard that redefines financial performance reporting. Although US GAAP reporters are not subject to IFRS standards, you’ll want to stay updated on the changes, which could influence the views of stakeholders in the US. In addition, we summarize the FASB’s latest decisions on its project on software costs.
In this edition of The quarter close, we highlight these and other relevant accounting and reporting topics you should consider as you close out the second quarter of 2024.
Transcripts available upon request for individuals who may need a disability-related accommodation Please send requests to [email protected]. -
Text us your thoughts on this episode
We conclude our miniseries on consolidation accounting with an episode on identifying the primary beneficiary of a VIE, the reporting entity required to consolidate the VIE. In this episode, we discuss:
3:15 – Determining which entity should consolidate the VIE6:07 – The primary beneficiary power criterion17:35 – The primary beneficiary economics criterion 21:17 – Related party impacts on the VIE model26:00 – Ongoing reassessment of the primary beneficiaryFor more information on this topic, read chapter 5 of our Consolidation guide. Also, for an overview of the consolidation framework, listen to the first two episodes in this miniseries, The consolidation framework – Getting started and The consolidation framework – Identifying a VIE. Additionally, follow this podcast on your favorite podcast app for episodes on other topics.
Matt Sabatini is a partner in PwC's National Office who helps clients and engagement teams navigate the accounting and financial reporting for complex transactions. He specializes in the accounting for M&A, consolidations, corporate reorganizations, recapitalizations, joint ventures, and other investments.
Alexander Martin is a partner in PwC's Deals practice with over a decade of deals experience, helping clients solve complex accounting, financial reporting, and other business issues that arise from transaction-driven events such as mergers and acquisitions, divestitures, and capital raises.
Heather Horn is the PwC National Office Sustainability & Thought Leader, responsible for developing our communications strategy and conveying firm positions on accounting, financial reporting, and sustainability matters. In addition, she is part of PwC’s global sustainability leadership team, developing interpretive guidance and consulting with companies as they transition from voluntary to mandatory sustainability reporting. She is also the engaging host of PwC’s accounting and reporting weekly podcast and quarterly webcast series.
Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to [email protected]. - Visa fler
