Episodes

5d ago

In this episode, we debrief the 2025 AICPA Conference in Washington, DC, highlighting key takeaways including perspectives from SEC Chairman Paul Atkins and other regulatory leaders. Topics include the SEC’s rulemaking priorities for 2026, trends in capital formation, and emerging issues such as AI and cryptocurrency. We also explore practical reminders for year-end reporting and insights into international standard setting collaboration. In this episode, we discuss: 6:42 – SEC Chair keynote: “Making IPOs great again” 12:51 – Emerging issues: AI, crypto, and international standard setting 25:08 – SEC shutdown impacts and capital markets backlog 32:06 – Rulemaking outlook and year-end reminders 47:08 – PCAOB oversight, inspections, and audit standard - setting themes For more, read our In depth , 2025 AICPA & CIMA Conference: Current SEC and PCAOB Developments . Be sure to follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to stay in the loop. About our guests Kevin Vaughn is a PwC National Office partner specializing in SEC reporting matters. Kevin leverages his extensive experience to support PwC public company and pre-IPO clients on accounting and SEC reporting matters. Prior to joining PwC in 2023, Kevin spent over 18 years at the SEC, most recently serving on the leadership team in the SEC’s Office of the Chief Accountant where he focused on technical accounting consultations, SEC rulemakings, and standard setting matters. Scott Feely is a PwC National Office Deputy Chief Accountant. He has over 30 years of experience supporting clients as they address the SEC and financial reporting implications of their capital markets and merger and acquisition-related activities. About our guest host 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. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Dec 9

We continue our SEC-focused series with a discussion of segment disclosures, reporting trends, and early comment letter themes emerging from the adoption of the new standard. In this episode, we explore common staff observations, including the role of the Chief Operating Decision Maker, or CODM; significant expense disclosures; and interplay with non-GAAP measures. In this episode, we discuss: 1:46 – Why segment disclosures remain a top SEC focus 8:04 – Early comment themes under the new standard 15:14 – Multiple profit measures and non-GAAP considerations 28:14 – How the SEC evaluates a company’s segment structure 35:28 – Ongoing reassessment of impacts to segments In case you missed it, check out the previous episodes in this SEC-focused series: SEC now: 2025 comment letter trends on transactions SEC now: Non-GAAP 2025 comment letter trends SEC now: Today’s landscape and recent developments Be sure to follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to stay in the loop. About our guests Kevin Vaughn is a PwC National Office partner specializing in SEC reporting matters. Kevin leverages his extensive experience to support PwC public company and pre-IPO clients on accounting and SEC reporting matters. Prior to joining PwC in 2023, Kevin spent over 18 years at the SEC, most recently serving on the leadership team in the SEC’s Office of the Chief Accountant where he focused on technical accounting consultations, SEC rulemakings, and standard setting matters. Jay Seliber is a partner in PwC’s National Office. He leverages over 35 years of experience to help clients with their most complex accounting matters, particularly in the areas of mergers and acquisitions, segment reporting, revenue recognition, stock compensation, earnings per share, employee benefits, restructurings, impairments, and financing transactions. About our guest host 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. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Dec 4

A video of this podcast is available on YouTube, Spotify, or PwC’s website at viewpoint.pwc.com The GHG Protocol has released its long-awaited proposed updates to the Scope 2 Guidance. In this episode, we highlight the key changes in the exposure draft, including proposed revisions to location-based and market-based reporting, hourly matching, emission factor hierarchies, and more. We also explore what these developments could mean for companies and how stakeholders can participate in the revision process. In this episode, we discuss: 2:49 – Redefining the purpose for location-based and market-based reporting 5:33 – The importance of the decision-making criteria 6:56 – New emission factor hierarchy for location-based reporting 14:30 – Shift toward hourly matching in the market-based method 21:53 – Deliverability criteria and implications for renewable energy credits 26:19 – Residual mix and fossil-only defaults for unclaimed energy 32:45 – How companies can share feedback and next steps for the Scope 2 guidance For more on the GHG Protocol’s exposure draft, see our publication, GHG Protocol announces Scope 2 Public Consultation , which was updated to indicate that the public consultation deadline was extended to January 31, 2026. Check out our previous episodes for more on the GHG Protocol and GHG reporting: Sustainability now: Modernizing the GHG Protocol Sustainability now: Inside the GHG Protocol’s scope 3 update Sustainability now: GHG reporting trends and challenges Looking for the latest developments in sustainability reporting? Follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to stay in the loop for the latest thought leadership on sustainability standards. About our guest Colin Powell is PwC Canada’s Technical Net Zero Leader. His work focuses on GHG quantification, life cycle assessment, target setting, and decarbonization strategies. He has helped companies measure over 1 billion tonnes of emissions and previously worked as a consultant supporting global clients in decarbonization. Colin sits on the GHG Protocol’s Scope 3 Working Group, helping shape updates to global standards. He is also a Professional Engineer (Ontario) with a PhD in wastewater treatment modeling. About our host Heather Horn is the PwC National Office Sustainability and 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. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Dec 2

We continue our SEC-focused series with a discussion on transaction-related matters, including IPOs, mergers and acquisitions, spinoffs, and divestitures. Our guests share insights into the SEC preclearance process and common SEC comment letter themes. Getting ahead of these issues can help avoid delays that may significantly impact deal timing and disclosures. In this episode, we discuss: 3:56 – Overview of 2025 IPO and M&A market activity 7:08 – SEC preclearance process and common issues 19:59 – Typical transaction filing review comment letter themes 32:49 – Final takeaways on anticipating and addressing SEC comments For more information: Going for a spin: Accounting and reporting for spinoffs Financial statement presentation guide Business combinations guide In case you missed it, check out the previous episodes in this SEC-focused series: SEC now: Today’s landscape and recent developments SEC now: Non-GAAP 2025 comment letter trends For more on the SEC, listen to our recent episode on frequency of reporting, SEC to revisit quarterly reporting: Pros, cons, and what’s ahead . Also, check out our SEC reporting series from earlier this year where we take a “back to basics” look at key reporting areas: Inside SEC reporting: Capital formation Inside SEC reporting: Acquisitions and divestitures Inside SEC reporting: Pro forma financial information Inside SEC reporting: Form 8-K (current report) Be sure to follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to stay in the loop. About our guests, Katie Driessen , a partner in PwC’s National Office who assists companies with complex accounting and financial reporting issues related to capital markets transactions and Scott Feely , a PwC National Office Deputy Chief Accountant with 30 years of experience supporting clients. About our guest host, Kyle Moffatt , PwC’s Professional Practice leader who guides teams partnering with regulators and delivering influential thought leadership and educational materials. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Nov 25

We continue our SEC-focused series with an episode on non-GAAP financial measures, commonly used by companies to supplement their financial statements and provide investors with a deeper understanding of their performance or financial condition. Given their importance, it’s been a top focus area for the SEC staff over the last several years, and we expect that trend to continue. We highlight common comment letter themes and share practical guidance for year-end reporting and comment letter responses. In this episode, we discuss: 2:17 – Overview of non-GAAP measures 6:20 – SEC comment letter trends and recurring issues 23:15 – Possible shifts in focus under the new SEC administration 27:35 – Year-end reminders and best practices for responding to SEC comments In case you missed it, check out our first episode in this SEC-focused series: SEC now: Today’s landscape and recent developments . For more on the SEC, listen to our recent episode on frequency of reporting, SEC to revisit quarterly reporting: Pros, cons, and what’s ahead . Also, check out our SEC reporting series from earlier this year where we take a “back to basics” look at key reporting areas: Inside SEC reporting: Capital formation Inside SEC reporting: Acquisitions and divestitures Inside SEC reporting: Pro forma financial information Inside SEC reporting: Form 8-K (current report) Be sure to follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to stay in the loop. Our guests are Kevin Vaughn , a PwC National Office partner specializing in SEC reporting matters, and John Ly , a PwC National Office managing director within the SEC & Capital Markets group. Our host is Kyle Moffatt , 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. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Nov 20

The levelized cost of electricity (LCOE) is a widely-cited metric used to compare the cost of energy from different power sources—but it’s often misunderstood and misused. This week, host Heather Horn is joined by Karl Hausker, Senior Fellow at the World Resources Institute’s Polsky Center for the Global Energy Transition, to cover what LCOE really measures, why it’s not the full story, and how it fits into the broader effort to decarbonize the power sector. Together, they explore what companies and regulators should consider when evaluating clean energy investments and transition plans. In this episode, we discuss: 5:23 – What LCOE measures—and what it misses 11:29 – Why LCOE shouldn’t drive policy decisions 25:20 – Implications for companies and scope 2 emissions 31:41 – The future energy mix As referenced in this episode, explore Karl Hausker’s companion slides for more information. At the time of recording, the GHG Protocol exposure drafts on scope 2 had not yet been released. Check out GHG Protocol announces Scope 2 Public Consultation for more information. Looking for more on GHG and sustainability reporting? CARB releases draft emissions reporting template Sustainability now: Inside the GHG Protocol’s scope 3 update PwC’s Sustainability reporting guide About our guest Dr. Karl Hausker is a Senior Fellow in the WRI Polsky Center for the Global Energy Transition. He leads analysis and modeling of climate mitigation, electricity market design, and the social cost of carbon. He testifies before Congress, lectures widely on deep decarbonization, and served as an expert reviewer for Sixth Assessment Report of the Intergovernmental Panel on Climate Change. About our host 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 us_podcast@pwc.com Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Nov 18

In this episode, we kick off a new SEC-focused series with an overview of current developments shaping SEC reporting. Our guests unpack recent leadership changes, the evolving rulemaking agenda, reporting themes, and key trends in SEC comment letters. In this episode, we discuss: 1:54 – SEC leadership updates 8:31 – Rulemaking agenda and expected priorities 15:29 – Rulemaking challenges: staff capacity and shutdown constraints 18:27 – Government shutdown effects on IPOs and the SEC review process 24:09 – SEC comment letter themes and focus areas For more, listen to our recent episode on frequency of reporting, SEC to revisit quarterly reporting: Pros, cons, and what’s ahead . Also, check out our SEC reporting series from earlier this year where we take a “back to basics” look at key reporting areas: Inside SEC reporting: Capital formation Inside SEC reporting: Acquisitions and divestitures Inside SEC reporting: Pro forma financial information Inside SEC reporting: Form 8-K (current report) Be sure to follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to stay in the loop. About our guests Scott Feely is a PwC National Office Deputy Chief Accountant. He has over 30 years of experience supporting clients as they address the SEC and financial reporting implications of their capital markets and merger and acquisition-related activities. Lindsay McCord is a PwC National Office partner specializing in matters related to the SEC and the capital markets. Prior to joining PwC, Lindsay spent over 15 years at the SEC, most recently as the Chief Accountant in the Division of Corporation Finance. In this role, Lindsay led an accounting team in providing technical accounting and reporting support to the Division, including SEC rulemaking, interpretation, and guidance. About our guest host 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. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Nov 13

A video of this podcast is available on YouTube, Spotify, or PwC’s website at viewpoint.pwc.com In this episode, we take a closer look at the modernization of the Greenhouse Gas (GHG) Protocol and its implications for sustainability reporting with a member of the GHG Protocol’s Independent Standards Board, Paul Munter. Paul shares insights on the evolving governance structure, the newly released scope 2 guidance, and the growing importance of interoperability in global sustainability reporting. In this episode, we discuss: 0:58 – What’s driving the modernization of GHG Protocol standards 3:31 – The governance model, including the role of the Independent Standards Board 9:06 – Highlights of the scope 2 public consultation and the importance of stakeholder feedback 17:46 – Interoperability with other sustainability reporting frameworks 21:36 – Updates under review for the Corporate Standard and the Scope 3 Standard 26:40 – What companies can be doing now to prepare for upcoming changes 32:27 – The role of boards and audit committees in overseeing emissions reporting For more on the GHG Protocol’s recent exposure draft and the overall timeline for its revision process, check out our publication, GHG Protocol announces Scope 2 Public Consultation. To explore additional insights on GHG reporting, see: Sustainability now: GHG reporting trends and challenges Sustainability now: Inside the GHG Protocol’s scope 3 update CARB releases draft emissions reporting template About our guest Paul Munter is currently a member of the Independent Standards Board of the Greenhouse Gas Protocol. He served as the Chief Accountant at the U.S. Securities and Exchange Commission from 2021 – 2025. During much of that time, he also served as Chair of the Monitoring Group and as Vice Chair and Chair of IOSCO’s Committee on Issuer Accounting, Audit and Disclosure. Prior to that, he served the SEC as Deputy Chief Accountant from 2019 - 2021, leading the Office of the Chief Accountant’s international work. About our guest host Diana Stoltzfus is a sustainability partner in the Professional Practice Group within the National Office. Diana helps to shape our firm’s perspective on regulatory matters, responses to rulemakings, and policy development and implementation related to significant new rules and regulations. Diana was previously the Deputy Chief Accountant in the Office of the Chief Accountant (OCA) of the Professional Practice Group in the OCA at the SEC. She focused on providing guidance related to auditing, independence, and internal controls. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Nov 11

In this episode, we explore the FASB’s new software cost guidance and its impact on accounting for internal‑use software—what’s in scope, how to evaluate the revised capitalization criteria, the effective date and transition, and other key changes. We also take a deeper dive into AI‑related software development. In this episode, we discuss: 0:00 – Background and scope on the FASB’s new ASU on internal-use software costs 11:10 – Capitalization criteria, including “significant development uncertainty” 20:38 – Examples of evaluating “significant development uncertainty” 30:50 – Other insights and updates related to the software costs guidance 34:00 – Effective date of the ASU and transition methods 37:41 – Accounting considerations for AI-related software development For more: FASB updates software cost guidance , Software costs guide Also, be sure to follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to stay in the loop. About our guests Pat Durbin is a PwC National Office Deputy Chief Accountant. 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. 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. About our host Heather Horn is the PwC National Office Sustainability and 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 us_podcast@pwc.com Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Nov 4

A video of this podcast is available on YouTube, Spotify, or PwC’s website at viewpoint.pwc.com The SEC is revisiting how often public companies report, weighing a shift from required quarterly Form 10‑Qs to a semiannual cadence. We explore what’s driving the debate and the implications for companies, investors, and markets. In this episode, we discuss: 1:55 – Why the SEC is revisiting quarterly reporting now and how we got here 12:13 – Pros and cons of moving to semiannual reporting 19:32 – Global and industry-specific trends in interim reporting 22:44 – Practical and operational implications of shifting to semiannual reporting 29:10 – SEC rulemaking process and potential next steps 31:57 – FASB’s role in interim disclosure standard setting For more on current interim reporting requirements, see chapter 29 of our Financial statement presentation guide. Be sure to follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to stay in the loop. About our guests Tom Barbieri is PwC’s US Chief Accountant. He has over 30 years of experience advising large financial services and multinational corporations on complex accounting issues. Tom leads the Accounting & SEC Services Group within the National Office, which is focused on supporting our clients and engagement teams in navigating complex technical accounting and financial reporting matters. He is also a member of the Financial Accounting Standards Advisory Council. John Vanosdall is a partner in PwC’s National Office focused on digital assets, revenue, and compensation arrangements. John previously served as both a Deputy Chief Accountant and Professional Accounting Fellow in the Office of the Chief Accountant at the SEC. Prior to re-joining the National Office, he served as the firm’s Accounting Advisory Leader. John has over 20 years of experience and has served some of the firm’s largest clients as a client service partner. About our guest host 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. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Oct 30

A video of this podcast is available on YouTube, Spotify, or PwC’s website at viewpoint.pwc.com Greenhouse gas (GHG) reporting continues to evolve, with companies facing increasing complexity in navigating frameworks, data quality, and materiality. In this episode, we explore recurring themes and practical challenges in GHG disclosures—from organizational boundaries to the role of renewable energy credits (RECs)—with insights from our specialists deeply engaged in global sustainability reporting. In this episode, we discuss: 1:22 – GHG reporting landscape and regulatory shifts 5:01 – Materiality, alignment with financial reporting, and minimum boundaries 23:48 – Organizational boundaries and key decisions companies are facing 31:35 – Scope 2 renewable energy certificates: timing, location, and use 43:00 – Systems, tools, and data quality, including preparing for reporting and assurance Looking for more on GHG and sustainability reporting? Sustainability now: Inside the GHG Protocol’s scope 3 update Sustainability now: A primer on California climate reporting Other episodes in our sustainability reporting podcast series GHG Protocol announces Scope 2 Public Consultation PwC’s Sustainability reporting guide Be sure to follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to stay in the loop for the latest thought leadership on sustainability reporting. About our guests Marcin Olewinski is a PwC Assurance practice partner with 20 years of experience bringing valued perspectives and insights to large clients in the energy sector. He’s focused within the National Office on greenhouse gas emissions and sustainability reporting and leads PwC’s global technical working group focused on GHG. Colin Powell PwC Canada’s Technical Net Zero Leader, specializes in GHG quantification, life cycle assessment, target setting, and decarbonization strategies. Colin is a Professional Engineer with a PhD in wastewater treatment modeling and has helped companies measure over 1 billion tonnes of GHG emissions while advising global clients on decarbonization. He sits on the GHG Protocol’s Scope 3 Working Group, shaping global standards. About our host 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. She's also part of PwC’s global sustainability leadership team. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Oct 28

In today’s episode, we unpack the complexities of spinoff transactions and their accounting implications. From identifying spinoffs to addressing key financial reporting considerations, our guests share practical guidance and insights for companies planning or evaluating these strategic moves. In this episode, we discuss: 1:12 – Overview of spinoff transactions 9:08 – Accounting and reporting considerations for spinoff transactions 23:56 – Post-spin accounting considerations for the spinnor 27:50 – Final advice for a company planning a spinoff For more on spinoffs, read our Financial statement presentation and Carve out financial statements guides. You can also tune in to last week’s episode, Sale of a business – Held for sale criteria, disc ops, and more , for further discussion on the presentation of discontinued operations. Be sure to follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to stay in the loop. About our guests 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. Katie Driessen is a partner in PwC’s National Office where she assists companies with complex accounting and financial reporting issues related to capital markets transactions, including acquisitions, divestitures, and capital raises. Katie recently returned to PwC following two years working in the Office of the Chief Accountant at the SEC. About our host Heather Horn is the PwC National Office Sustainability and 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 us_podcast@pwc.com Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Oct 23

A video of this podcast is available on YouTube, Spotify, or PwC’s website at viewpoint.pwc.com In this episode, host Heather Horn is joined by Colin Powell, a PwC Canada partner and member of the GHG Protocol’s Scope 3 Standard Technical Working Group. They discuss key areas for change under consideration, including minimum boundaries and data quality disclosures, as well as what these updates could mean for the future of sustainability reporting. In this episode, we discuss: 1:12 – Overview of the Scope 3 Technical Working Group and the current areas of focus 12:36 – Minimum boundaries, data quality, and feasibility 30:39 – Category 15 (Investments), plus facilitated and insurance emissions 35:55 – Timeline for the revised Scope 3 Standard and why companies should engage now 44:56 – Final takeaways on the evolving scope 3 landscape At the time of recording, the GHG Protocol exposure drafts on scope 2 had not yet been released. Check out GHG Protocol announces Scope 2 Public Consultations for more information. Looking for the latest developments in sustainability reporting? Read PwC’s Sustainability reporting guide Check out other episodes in our sustainability reporting podcast series About our guest Colin Powell is PwC Canada’s Technical Net Zero Leader. His work focuses on GHG quantification, life cycle assessment across many impact categories, GHG target setting, and developing decarbonization strategies. He has supported companies in quantifying over 1 billion tonnes of GHG emissions and worked previously as a consultant supporting global clients to understand their GHG emissions and how they can decarbonize. Colin sits on the GHG Protocol’s Scope 3 Technical Working Group, helping to shape the revision of the global standards used to account for GHG emissions. Colin is also a Professional Engineer (Ontario) and holds a PhD in wastewater treatment modeling. About our host Heather Horn is the PwC National Office Sustainability and 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 us_podcast@pwc.com Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Oct 21

In today’s episode, we explore the accounting implications of selling a business—an increasingly relevant topic in today’s market. From initial considerations through the final disposition, we break down key accounting judgments, classification, and presentation requirements. In this episode, we discuss: 2:32 – Held-for-sale criteria 14:00 – Accounting implications of held-for-sale classification 19:25 – Accounting for the gain or loss on the sale of a business 25:50 – Discontinued operations criteria 33:00 – Discontinued operations presentation requirements For more information, check out chapter 6 of our Property, plant, equipment and other assets guide, chapter 8 and 27 of our Financial statement presentation guide. Also, listen to our previous podcast episode, Presenting discontinued operations . Be sure to follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to stay in the loop. About our guests 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. Katie Driessen is a partner in PwC’s National Office where she assists companies with complex accounting and financial reporting issues related to capital markets transactions, including acquisitions, divestitures, and capital raises. Katie recently returned to PwC following two years working in the Office of the Chief Accountant at the SEC. About our host Heather Horn is the PwC National Office Sustainability and 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 us_podcast@pwc.com Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Oct 16

A video of this podcast is available on YouTube, Spotify, or PwC’s website at viewpoint.pwc.com In this episode, host Heather Horn sat down with Mardi McBrien, Senior Director at the World Business Council for Sustainable Development (WBCSD), during New York Climate Week to discuss the evolving world of sustainability reporting. The conversation covers how companies are navigating fragmented frameworks, the growing importance of transition plans, and the movement toward greater simplification and integration of reporting. In this episode, we discuss: 1:15 – The role of the WBCSD and the focus on corporate performance 7:24 – Challenges companies face in a compliance-driven reporting environment 12:28 – Breaking down silos across functions and topics and integrating sustainability into strategy 24:15 – Transition plans and the credibility of business strategies 29:00 – Global baseline progress and alignment across reporting frameworks 41:22 – Key themes from the New York Climate Week As mentioned in today’s podcast, check out When less equals more: rethinking sustainability reporting for insights from the roundtable discussion on the sustainability reporting landscape hosted by the WBCSD, London Stock Exchange Group, and Principles for Responsible Investment. Looking for the latest developments in sustainability reporting? Follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to stay in the loop for the latest thought leadership on sustainability standards. About our guest Mardi McBrien is Senior Director, Enhancing Transparency, Corporate Performance & Accountability (CP&A) at the World Business Council for Sustainable Development. Mardi leads the Enhancing Transparency Track, a key initiative that supports members in navigating complex regulatory developments, delivering transparent and decision-useful reporting, and fostering long-term value creation. Mardi brings a wealth of expertise with over 15 years of leadership in sustainability disclosure and reporting. Most recently, she served as the Chief of Strategic Affairs and Capacity Building at the IFRS Foundation. About our host Heather Horn is the PwC National Office Sustainability and 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 us_podcast@pwc.com Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Oct 14

In this episode of our crypto asset mini-series, we explore common transaction types—stablecoins, staking, and lending. The discussion addresses the accounting, including how contract terms and fact patterns can significantly influence the appropriate accounting model. In this episode, we discuss: 2:17 – Overview of stablecoins, including the impact of the GENIUS Act 9:01 – Accounting for stablecoins 15:50 – Overview of staking and the accounting by delegators 24:14 – Accounting for crypto asset lending transactions For more information, see our Crypto assets guide. You can also listen to the previous episode in this series, Crypto assets – Accounting and reporting foundations . Be sure to follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to stay in the loop. About our guests 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. She has over 30 years of experience consulting with clients and engagement teams on complex accounting matters. John Vanosdall is a partner in PwC’s National Office focused on digital assets, revenue, and compensation arrangements. John previously served as both a Deputy Chief Accountant and Professional Accounting Fellow in the Office of the Chief Accountant at the SEC. Prior to re-joining the National Office, he served as the firm’s Accounting Advisory Leader. John has over 20 years of experience and has served some of the firm’s largest clients as a client service partner. Ryan Blacker is a director in PwC’s National Office specializing in the accounting for business combinations and crypto assets. Ryan consults with clients and engagement teams on complex accounting and financial reporting matters related to these topics. About our guest host Diana Stoltzfus is a partner in the National Office who helps to shape PwC’s perspectives on regulatory matters, responses to rulemakings and policy development, and implementation related to significant new rules and regulations. Prior to rejoining PwC, Diana was the Deputy Chief Accountant in the Office of the Chief Accountant (OCA) at the SEC where she led the activities of the OCA’s Professional Practices Group. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Oct 7

Crypto assets are rapidly evolving – and so is the accounting and financial reporting. In this episode, we explore regulatory trends and market developments, including new FASB guidance. In this episode, we discuss: 01:22 – Market trends, regulatory shifts, and financial reporting developments 06:10 – Key developments from the SEC on crypto 09:44 – Accounting classification of crypto assets 11:55 – Key provisions of the FASB’s crypto assets guidance 23:12 – Fair value measurement considerations For more information, see our Crypto assets guide. Be sure to follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to stay in the loop. About our guests 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. She has over 30 years of experience consulting with clients and engagement teams on complex accounting matters. John Vanosdall is a partner in PwC’s National Office focused on digital assets, revenue, and compensation arrangements. John previously served as both a Deputy Chief Accountant and Professional Accounting Fellow in the Office of the Chief Accountant at the SEC. Prior to re-joining the National Office, he served as the firm’s Accounting Advisory Leader. John has over 20 years of experience and has served some of the firm’s largest clients as a client service partner. About our guest host Diana Stoltzfus is a partner in the National Office who helps to shape PwC’s perspectives on regulatory matters, responses to rulemakings and policy development, and implementation related to significant new rules and regulations. Prior to rejoining PwC, Diana was the Deputy Chief Accountant in the Office of the Chief Accountant (OCA) at the SEC where she led the activities of the OCA’s Professional Practices Group. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Oct 2

A video of this podcast is available on YouTube, Spotify, or PwC’s website at viewpoint.pwc.com This week, host Heather Horn is joined by Eelco van der Enden, CEO of Accountancy Europe. In this episode, we explore the fast-changing reporting and assurance landscape across Europe, including sustainability reporting and broader regulatory shifts. We examine the forces driving simplification, cross-border alignment, and the future of the accounting profession—and what it all means for companies operating in or doing business with the EU. In this episode, we discuss: 1:55 – The evolving role of Accountancy Europe and how it engages with EU institutions 3:35 – Broader forces shaping Europe’s reporting and investment landscape 14:55 – Bridging the knowledge gap between the profession, policymakers, and society 30:18 – Advice for US companies navigating EU sustainability regulations 33:19 – Accountancy Europe’s Purpose 2030 project and industry benchmarking efforts 35:35 – AI, digitalization, and their implications for the accounting profession 42:05 – Global collaboration, talent attraction, and simplifying regulation About our guest Eelco van der Enden is the CEO of Accountancy Europe. He brings over 35 years of experience in business and civil society organizations. Until December 2024, Eelco served as chief executive officer of the Global Reporting Initiative where he led the organisation through groundbreaking changes in sustainability reporting. Eelco previously headed PwC's Global ESG Platform for Tax, Legal, People & Organization Services and has held several senior positions in publicly listed companies, including roles as Head of Treasury, Risk Management, and Tax. About our host Heather Horn is the PwC National Office Sustainability and 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 us_podcast@pwc.com Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Sep 30

A video of this podcast is available on YouTube, Spotify, or PwC’s website at viewpoint.pwc.com In this episode, we continue our series on the European Commission’s Omnibus package with a September update that focuses on the proposed amendments to the European Sustainability Reporting Standards (ESRS). We explore how the changes aim to simplify reporting, reduce disclosure burdens, and enhance interoperability, and we highlight key implications for companies preparing sustainability statements. In this episode, we discuss: 1:22 – The European Commission’s Omnibus package and mandate for ESRS changes 5:50 – Overview of changes made to the ESRS 9:10 – Updates to ESRS 1 and 2: reducing duplication, increasing flexibility 20:10 – Clarifying reporting boundaries, including leases and GHG emissions 34:40 – Interoperability with ISSB standards and where ESRS diverge 37:42 – Next steps in the amendment process and what companies should do now Get caught up on the EU Omnibus package: A deep dive into draft Amended ESRS Sustainability now: EU Omnibus in motion – August 2025 update New reliefs for ESRS ‘wave 1’ reporters EFRAG’s next step toward revised ESRS European Commission adopts a recommendation on the VSME standard European Commission adopts revisions related to Taxonomy Regulation Looking for more on sustainability reporting? Read PwC’s Sustainability reporting guide Check out other episodes in our sustainability reporting podcast series About our guest Diana Stoltzfus is a partner in the National Office who helps to shape PwC’s perspectives on regulatory matters, responses to rulemakings and policy development, and implementation related to significant new rules and regulations. Prior to rejoining PwC, Diana was the Deputy Chief Accountant in the Office of the Chief Accountant (OCA) at the SEC where she led the activities of the OCA’s Professional Practices Group. About our host Heather Horn is the PwC National Office Sustainability and 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. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Sep 25

A video of this podcast is available on YouTube, Spotify, or PwC’s website at viewpoint.pwc.com In this episode, we explore insights from PwC’s Global Sustainability Reporting Survey featuring nearly 500 executives worldwide. Recorded during New York City Climate Week, the conversation highlights how companies are using sustainability data to drive strategy, respond to stakeholder pressure, and prepare for evolving regulations. In this episode, we discuss: 1:14 – Key takeaways from New York City Climate Week 3:40 – Overview of PwC’s Global Sustainability Reporting Survey and its purpose 8:42 – How companies are using sustainability data to inform risk, resilience, and opportunity 11:14 – Lessons from early reporters: tech adoption, resource needs, and AI use 14:14 – The demand for transparency Looking for more on PwC’s 2025 Global Sustainability Reporting Survey? Check out From insight to value: The sustainability reporting journey continues About our guest Nadja Picard is PwC’s Global Reporting Leader. She leads PwC’s initiative to help clients transform their reporting both to meet investor and stakeholder demands for trusted reporting and to unlock business value from new data sets, including sustainability. Nadja also advises companies on the accounting, corporate reporting, and investor relations requirements in advance of capital markets transactions, especially Initial Public Offerings. About our guest host Diana Stoltzfus is a partner in the National Office who helps to shape PwC’s perspectives on regulatory matters, responses to rulemakings and policy development, and implementation related to significant new rules and regulations. Prior to rejoining PwC, Diana was the Deputy Chief Accountant in the Office of the Chief Accountant (OCA) at the SEC where she led the activities of the OCA’s Professional Practices Group. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Sep 23

Significant developments are underway at the PCAOB. In this episode, we provide an overview on the latest changes, what’s on the horizon, and the potential implications for preparers. Our guest is Brian Croteau, PwC’s US Chief Auditor, who leads our team that follows all things PCAOB. In this episode, we discuss: 3:14 – A historical perspective on the PCAOB 10:01 – Leadership changes at the SEC and PCAOB 21:05 – Standard setting projects and priorities 33:05 – Standard setting related to emerging technologies (e.g., AI, crypto) 37:28 – Potential changes to the PCAOB’s inspection program Be sure to follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to stay in the loop. About our guest Brian Croteau is the US Chief Auditor. He oversees the establishment and maintenance of PwC’s audit policies and practices, leads efforts to directly support PwC’s audit quality objectives, and plays a key role in the monitoring and assessment of audit quality. He also leads the firm’s efforts related to its relationship with the PCAOB, including supporting all aspects of the PCAOB’s inspection process. Brian currently serves as a member of the PCAOB’s Standards and Emerging Issues Advisory Group (SEIAG) and the SEIAG’s Emerging Issues in Auditing subcommittee. Prior to rejoining PwC, he served as the Deputy Chief Accountant of the Professional Practice Group within the Office of the Chief Accountant at the SEC where he played a key role in the SEC’s oversight of the activities of the PCAOB, managed the resolution of auditor independence issues and ethical matters, and monitored audit and independence standard setting internationally. About our guest host Diana Stoltzfus is a partner in the National Office who helps to shape PwC’s perspectives on regulatory matters, responses to rulemakings and policy development, and implementation related to significant new rules and regulations. Prior to rejoining PwC, Diana was the Deputy Chief Accountant in the Office of the Chief Accountant (OCA) at the SEC where she led the activities of the OCA’s Professional Practices Group. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Sep 16

As sweeping US tax reform takes effect in 2025, corporate taxpayers face important changes. These include extensions of and modifications to key Tax Cuts & Jobs Act (TCJA) provisions as well as expansion of some Inflation Reduction Act (IRA) incentives while accelerating the phase-out of others. In this episode we provide an overview of the key corporate provisions and dive into the related accounting and financial reporting implications. In this episode, we discuss: 03:24 – Extensions and modifications of TCJA domestic tax laws 13:42 – Extensions and modifications of TCJA international tax laws 24:03 – Changes to IRA energy credits 29:30 – Other provisions (e.g., endowments, charitable deductions) 33:19 – Global tax implications and Pillar Two 39:25 – What’s ahead for corporate tax policy and accounting for income taxes For more information, check out our publications, Accounting for 2025 US tax reform and President Trump signs H.R. 1, the “One Big Beautiful Bill Act”. You can also listen to our related podcast episode, Sustainability now: Facing IRA and clean energy credit uncertainty . Be sure to follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to stay in the loop. About our guests Jennifer Spang is PwC’s National Office income tax accounting leader, specializing in tax accounting under US GAAP and IFRS. She has over 25 years of experience helping companies in a variety of industries navigate complex tax accounting matters. Pat Brown is PwC’s National Tax Office Co-Leader. Prior to joining PwC, he spent 16 years in the private sector, including as the director of tax policy for a Fortune 50 company. Pat has also served in the US Treasury’s Office of Tax Policy as an attorney-advisor and as Associate International Tax Counsel. About our guest host Diana Stoltzfus is a partner in the National Office who helps to shape PwC’s perspectives on regulatory matters, responses to rulemakings and policy development, and implementation related to significant new rules and regulations. Prior to rejoining PwC, Diana was the Deputy Chief Accountant in the Office of the Chief Accountant (OCA) at the SEC where she led the activities of the OCA’s Professional Practices Group. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Sep 11

A video of this podcast is available on YouTube, Spotify, or PwC’s website at viewpoint.pwc.com California’s climate reporting is coming, but many questions remain. In this episode, we cover Assembly Bill (AB) 1305, Senate Bill (SB) 253, and SB 261—what’s required now, what’s still evolving, and how companies can prepare as the California Air Resources Board (CARB) works to finalize draft regulations. In this episode, we discuss: 3:05 – Overview of AB 1305, SB 253, and SB 261, including scope and revenue thresholds 6:46 – Litigation updates and why deadlines still apply despite challenges 10:29 – Defining “doing business in California” and revenue thresholds under CARB proposals 18:39 – CARB’s role in enforcement, rulemaking, and timeline for draft regulations For more information, check out our In depth on California’s climate laws and Chapter 22 of PwC’s Sustainability reporting guide , Jurisdictional sustainability reporting – California . Be sure to follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to stay in the loop for the latest thought leadership on sustainability standards. About our guests Logan Redlin is a director in PwC’s National Office who is focused on thought leadership strategy and content development related to accounting and financial reporting, sustainability reporting, and standard setting. Prior to this role, Logan spent 15 years in the audit practice, serving both public and private companies with a primary focus on asset management and real estate. Valerie Wieman is a PwC National Office partner with over 30 years of experience. She is one of the firm’s technical experts on sustainability reporting and helps lead the creation, development, and publication of our brand-defining thought leadership, with a focus on domestic and international sustainability requirements. About our guest host Guest host Diana Stoltzfus is a partner in the National Office who helps to shape PwC’s perspectives on regulatory matters, responses to rulemakings and policy development, and implementation related to significant new rules and regulations. Prior to rejoining PwC, Diana was the Deputy Chief Accountant in the Office of the Chief Accountant (OCA) at the SEC where she led the activities of the OCA’s Professional Practices Group. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Sep 9

In this episode, we focus on transfers of financial assets. The discussion breaks down the fundamentals of ASC 860, clarifies when a transfer qualifies as a sale versus a secured borrowing, and outlines the key criteria for derecognition. In this episode, we discuss: 0:59 – Overview of ASC 860 and the basics of financial asset transfers 3:35 – Transactions subject to ASC 860 6:56 – Transfer of an entire versus a portion of a financial asset and application of the participating interest guidance 11:12 – Control criteria to achieve sale accounting: 11:53 – Legal isolation 16:38 – Right to pledge or exchange 19:42 – Effective control 21:50 – Examples of "failed sale" transactions For more information, check out our Transfers and servicing of financial assets guide. Be sure to follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to stay in the loop. About our guest Chip Currie is a partner in PwC’s National Office with 30 years of experience assisting companies in resolving complex business and accounting issues. He concentrates on the accounting for financial instruments under both current and emerging standards and works with many of the firm's largest financial services clients and a number of non-financial services clients on treasury-related matters. About our guest host Guest host Diana Stoltzfus is a partner in the National Office who helps to shape PwC’s perspectives on regulatory matters, responses to rulemakings and policy development, and implementation related to significant new rules and regulations. Prior to rejoining PwC, Diana was the Deputy Chief Accountant in the Office of the Chief Accountant (OCA) at the SEC where she led the activities of the OCA’s Professional Practices Group. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Sep 4

A video of this podcast is available on YouTube, Spotify, or PwC’s website at viewpoint.pwc.com In this episode, we break down the amendments to the EU Taxonomy Regulation adopted by the European Commission in July 2025. Learn about the changes, what they mean for both financial and non-financial companies, and what may still be on the horizon. Plus, we’ll share practical steps companies can take as they prepare for implementation. In this episode, we discuss: 1:10 – Overview of the EU Taxonomy Regulation and potential changes to come 7:46 – Changes on the horizon for non-financial services companies 17:14 – Major reliefs for financial services companies 25:10 – Next steps for the EU Taxonomy Regulation and what companies can do now Looking for more on the EU Taxonomy regulation and other Omnibus proposals? European Commission adopts revisions related to Taxonomy Regulation A deep dive into the draft Amended ESRS EFRAG’s next step toward revised ESRS New reliefs for ESRS ‘wave 1’ reporters Sustainability now: EU Omnibus in motion – August 2025 update About our guest Valerie Wieman is a PwC National Office partner with over 30 years of experience. She is one of the firm’s technical experts on sustainability reporting and helps lead the creation, development, and publication of our brand-defining thought leadership, with a focus on domestic and international sustainability requirements. About our host Heather Horn is the PwC National Office Sustainability and 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 us_podcast@pwc.com Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Aug 28

The Inflation Reduction Act introduced a broad range of renewable energy tax credits. Now, the One Big Beautiful Bill Act (OB3) has reshaped these incentives with new compliance requirements, shifting timelines, and selective phaseouts. In this podcast, we cover what’s changed, what’s stayed the same, and the implications for companies navigating the evolving renewable energy tax credit landscape. In this episode, we discuss: 1:51 – Significant changes to energy credits from OB3 9:28 – Energy credit modifications, early sunsets, and what remains unchanged 14:07 – New guidance for wind and solar industry clean electricity credits 21:14 – Immediate actions for companies to maximize opportunities under OB3 Looking for the latest developments in sustainability reporting? Follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to stay in the loop for the latest thought leadership on sustainability standards. About our guest Jennifer Bernardini is a managing director in PwC’s Washington National Tax practice. She has over 20 years of experience implementing federal energy tax incentives that support the development of renewable energy and the climate transition. About our guest host Guest host Diana Stoltzfus is a partner in the National Office who helps to shape PwC’s perspectives on regulatory matters, responses to rulemakings and policy development, and implementation related to significant new rules and regulations. Prior to rejoining PwC, Diana was the Deputy Chief Accountant in the Office of the Chief Accountant (OCA) at the SEC where she led the activities of the OCA’s Professional Practices Group. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Aug 19

In this episode, we explain how to identify the accounting acquirer in an acquisition—an essential first step in accounting for a business combination. We also outline key changes in the FASB’s new guidance (ASU 2025-03, Determining the Accounting Acquirer in the Acquisition of a Variable Interest Entity ) that impact this assessment. In this episode, we discuss: 1:16 – Overview of business combinations and importance of identifying the acquirer 6:12 – New FASB guidance applicable when the legal acquiree is a variable interest entity (VIE) 10:33 – Factors to consider when determining the accounting acquirer 17:35 – Effective date and transition provisions for adopting the new guidance For more information, see section 2.3 of our Business combinations guide. You may also be interested in our related podcast episodes mentioned during this discussion: Accounting for business combinations: Being prepared for a deal – discusses the foundations of acquisition accounting The consolidation framework - Identifying a VIE – explores the evaluation of variable interests and the characteristics of a variable interest entity (VIE) Be sure to follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to stay in the loop. About our guests Ryan Blacker is a director in PwC’s National Office specializing in the accounting for business combinations and crypto assets. Ryan consults with clients and engagement teams on complex accounting and financial reporting matters related to these 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. About our guest host Guest host Diana Stoltzfus is a partner in the National Office who helps to shape PwC’s perspectives on regulatory matters, responses to rulemakings and policy development, and implementation related to significant new rules and regulations. Prior to rejoining PwC, Diana was the Deputy Chief Accountant in the Office of the Chief Accountant (OCA) at the SEC where she led the activities of the OCA’s Professional Practices Group. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Aug 14

A video of this podcast is available on YouTube, Spotify, or PwC’s website at viewpoint.pwc.com Recent weeks have brought notable progress on the European Commission’s Omnibus package. In this episode, we examine the key developments from July — including amendments to the EU Taxonomy regulation, EFRAG’s extended deadline, and major revisions to the European Sustainability Reporting Standards (ESRS). We also discuss the potential implications for businesses as the legislative process advances, including why “wave 1” reporters must stay alert even if the changes aren’t finalized yet. In this episode, we discuss: 1:09 – July’s major EU sustainability developments 4:18 – Deadline extension for EFRAG revisions 7:22 – The “quick fix” delegated act and wave 1 reporting relief 13:55 – Major revisions to ESRS 21:38 – Status of the broader content proposal 25:15 – Breaking down the EU legislative process and expected timelines Get caught up on the EU Omnibus package: New reliefs for ESRS ‘wave 1’ reporters EFRAG’s next step toward revised ESRS European Commission adopts revisions related to Taxonomy Regulation Sustainability now: EU Omnibus in motion – June 2025 update Sustainability now: EU Omnibus in motion – May 2025 update Sustainability now: Navigating “Omnibus” uncertainty Looking for the latest developments in sustainability reporting? Read PwC’s Sustainability reporting guide Check out other episodes in our sustainability reporting podcast series About our guest Diana Stoltzfus is a partner in the National Office who helps to shape PwC’s perspectives on regulatory matters, responses to rulemakings and policy development, and implementation related to significant new rules and regulations. Prior to rejoining PwC, Diana was the Deputy Chief Accountant in the Office of the Chief Accountant (OCA) at the SEC where she led the activities of the OCA’s Professional Practices Group. About our host Heather Horn is the PwC National Office Sustainability and 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. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Aug 5

We continue our revenue accounting podcast miniseries with an episode focused on presentation and disclosure. From balance sheet and income statement classification to required disclosures under ASC 606, we highlight key guidance and address key areas where questions often arise in practice. In this episode, we discuss: 1:27 – Income statement presentation of revenue 4:16 – Balance sheet presentation considerations related to revenue 9:38 – Overview of revenue disclosure objectives and the five primary disclosure areas: 11:27 – Disaggregated revenue 18:40 – Performance obligations 23:26 – Significant judgments 26:31 – Contract balances 29:01 – Costs to obtain or fulfill a contract For more information, chapter 33 of our Financial statement presentation guide. You can also listen to the other episodes in this series: Revenue accounting reset – Recognizing revenue Revenue accounting reset – Variable consideration Revenue accounting reset – Consideration payable to a customer Be sure to follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to stay in the loop. About our guests Christine Moore is a director in PwC’s National Office advising audit and non-audit clients on complex accounting and financial reporting matters. She advises on revenue arrangements for public and private companies across various industries, with a focus on companies in the pharmaceutical and life sciences industry. 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. About our guest host Guest host Diana Stoltzfus is a partner in the National Office who helps to shape PwC’s perspectives on regulatory matters, responses to rulemakings and policy development, and implementation related to significant new rules and regulations. Prior to rejoining PwC, Diana was the Deputy Chief Accountant in the Office of the Chief Accountant (OCA) at the SEC where she led the activities of the OCA’s Professional Practices Group. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jul 29

We continue our revenue accounting podcast miniseries with a discussion on payments to customers—an area that can raise complex accounting questions, especially when those payments come in the form of equity. We examine when these payments reduce revenue versus when they represent consideration for a distinct good or service. We also highlight updates from the FASB’s new guidance on share-based consideration payable to a customer. In this episode, we discuss: 0:56 – Overview of consideration payable to a customer 5:41 – When to recognize payments to a customer 15:15 – Applying ASC 718 to equity-based payments to a customer 23:41 – Key provisions in FASB’s new guidance on equity consideration 29:49 – Classifying, measuring, and recognizing equity payments 36:41 – Accounting for payments to settle litigation claims or other disputes For more information, see chapter 4 of our Revenue guide, chapter 7 of our Stock-based compensation guide, and our In brief , FASB issues guidance on share-based consideration payable to a customer . Listen to the other episodes in this series: Revenue accounting reset – Recognizing revenue Revenue accounting reset – Variable consideration Be sure to follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to stay in the loop. About our guests 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, spinoffs, acquisitions, and other major transactions or events. 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. About our host Heather Horn is the PwC National Office Sustainability and 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 us_podcast@pwc. Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jul 22

We continue our revenue accounting miniseries with an episode taking a closer look at variable consideration—an essential and sometimes complex element in determining transaction price. From performance bonuses to volume-based rebates, we explore how to estimate and constrain variable amounts as well as when key exceptions apply. In this episode, we discuss: 0:58 – Why variable consideration is a critical element of the ASC 606 model 7:00 – The general model for estimating variable consideration 9:02 – Applying the constraint on the amount of variable consideration 18:25 – Common types of arrangements that include variable consideration, such as volume-based rebates and discounts 20:59 – Key exceptions to the general model: 21:10 – Sales- or usage-based royalty exception 26:04 – Variable consideration allocation exception 30:24 – Right-to-invoice measure of progress exception For more information, see chapter 4 of our Revenue from contracts with customers guide. You can also listen to the first episode in this series, Revenue accounting reset – Recognizing revenue . Be sure to follow this podcast on your favorite podcast app and subscribe to our weekly newsletter for the latest thought leadership. About our guests 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. Chris Bourdon is a partner in PwC's National Office who specializes in accounting for revenue, inventory, and employee compensation arrangements. He also consults on a range of financial reporting issues impacting technology, media, and entertainment companies. About our host Heather Horn is the PwC National Office Sustainability and 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jul 15

We kick off our latest accounting podcast miniseries on revenue accounting with a foundational discussion on revenue recognition. In this episode, we tackle recognizing revenue —the final step of the ASC 606 model—and examine how to determine whether performance obligations are satisfied over time or at a point in time. In this episode, we discuss: 0:54 – Overview of the ASC 606 revenue model 5:30 – Identifying performance obligations satisfied over time 11:15 – Identifying performance obligations satisfied at a point in time 21:19 – Measures of progress to determine the timing of revenue recognition 33:45 – Exceptions to over-time revenue recognition For more information, see chapter 6 of our Revenue from contracts with customers guide. Be sure to follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to stay in the loop. About our guests Pat Durbin is a PwC National Office Deputy Chief Accountant. 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. 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. About our guest host Guest host Diana Stoltzfus is a partner in the National Office who helps to shape PwC’s perspectives on regulatory matters, responses to rulemakings and policy development, and implementation related to significant new rules and regulations. Prior to rejoining PwC, Diana was the Deputy Chief Accountant in the Office of the Chief Accountant (OCA) at the SEC where she led the activities of the OCA’s Professional Practices Group. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jul 8

We continue our lease accounting podcast miniseries with an episode focused on embedded leases. Some arrangements to provide services or purchase inventory rely on the use of a specific asset to fulfill the contract. Even if the word “lease” doesn’t appear, the rights conveyed to the customer may still meet the definition of a lease—shifting the transaction from simply purchasing services or goods to leasing an asset. We explain why identifying an embedded lease is critical and how it can significantly impact the accounting and financial reporting for both customers and suppliers. In this episode, we discuss: 1:40 – An overview of embedded leases and common arrangements 6:50 – Determining whether an arrangement contains a lease 24:07 – Allocating contract consideration to lease and nonlease components 34:19 – Available practical expedients 39:01 – Accounting and reporting implications For more information, see chapter 2 of our Leases guide and chapter 4 and 5 of our Revenue from contracts with customers guide. You can also listen to the other episodes in this series: Lease accounting reset - Presentation and disclosure Lease accounting reset - Modifications and terminations Lease accounting reset – Variable rents Be sure to follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to for the latest thought leadership. About our guests Marc Jerusalem is a PwC National Office managing director specializing in leasing. Marc consults with clients on complex lease accounting issues and is a frequent contributor to many related PwC National Office publications. Pat Durbin is a PwC National Office Deputy Chief Accountant. 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. About our guest host Guest host Diana Stoltzfus is a partner in the National Office who helps to shape PwC’s perspectives on regulatory matters, responses to rulemakings and policy development, and implementation related to significant new rules and regulations. Prior to rejoining PwC, Diana was the Deputy Chief Accountant in the Office of the Chief Accountant (OCA) at the SEC where she led the activities of the OCA’s Professional Practices Group. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jul 1

We continue our lease accounting miniseries with a focus on variable lease payments, an area that can significantly influence lease classification and measurement. In this episode, we explore the complexities of usage-based and index-based payments, fair market rent adjustments, in-substance fixed payments, and more – providing insights into how these variable rents affect the accounting and disclosures. In this episode, we discuss: 1:12 – Fixed versus variable lease payments and their accounting implications 7:13 – Fair market rent adjustments 9:37 – In-substance fixed payments, including take-or-pay arrangements 15:44 – Usage-based lease payment structures 22:18 – Tenant improvement allowances and lease incentives 26:10 – Accounting for variable lease payments during lease remeasurement For more information, see chapter 3 and chapter 5 of our Leases guide. In case you missed it – check out the other episodes in this podcast miniseries: Lease accounting reset - Presentation and disclosure Lease accounting reset – Modifications and terminations Be sure to follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to stay in the loop. About our guests Marc Jerusalem is a managing director in PwC’s National Office specializing in leasing. Marc consults with clients on complex lease accounting issues and is a frequent contributor to many related PwC National Office publications. Suzanne Stephani is a director in PwC’s National Office specializing in the statement of cash flows as well as the application and interpretation of the accounting guidance related to financing and leasing transactions. About our guest host Guest host Diana Stoltzfus is a partner in the National Office who helps to shape PwC’s perspectives on regulatory matters, responses to rulemakings and policy development, and implementation related to significant new rules and regulations. Prior to rejoining PwC, Diana was the Deputy Chief Accountant in the Office of the Chief Accountant (OCA) at the SEC where she led the activities of the OCA’s Professional Practices Group. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jun 26

A video of this podcast is available on YouTube, Spotify, or PwC’s website at viewpoint.pwc.com In this episode, we highlight the proposed amendments to IFRS S2, the climate-related disclosure standard from the International Sustainability Standards Board (ISSB). Learn how the changes aim to clarify greenhouse gas (GHG) reporting, specifically scope 3 emissions, and the potential implications they have on reporting. In this episode, we discuss: 0:57 – Overview of IFRS S2, the role of the Transition Implementation Group, and what’s driving the amendments 3:52 – Clarifying the definition of scope 3 category 15 (investments) emissions 12:23 – Industry classification requirements for entities engaging in commercial banking and insurance-related activities 16:28 – How to apply jurisdictional relief for GHG measurement methodology 19:47 – Global warming potential (GWP) values and jurisdictional relief 22:55 – Next steps for the exposure draft and recommendations for reporters in the interim Looking for the latest developments in sustainability reporting? Refer to our publication on the ISSB’s exposure draft proposing amendments to IFRS S2 Read PwC’s Sustainability reporting guide Check out other episodes in our sustainability reporting podcast series About our guest Marcin Olewinski is a PwC Assurance practice partner with over 20 years of experience bringing valued perspectives and insights to large clients in the energy sector. Additionally, he’s focused extensively within the National Office on greenhouse gas emissions and sustainability reporting and leads PwC’s global technical working group focused on GHG. About our host Heather Horn is the PwC National Office Sustainability and 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 us_podcast@pwc.com Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jun 24

We continue our lease accounting miniseries with an episode focused on modifications and terminations. From determining whether a change results in a new lease to navigating remeasurement requirements, we share practical insights and key reminders for applying the guidance. In this episode, we discuss: 1:12 – How to determine if a lease modification should be treated as a new lease or a remeasurement of the existing lease 10:31 – Key accounting steps in a lease modification and remeasurement 17:49 – Differentiating a lease termination from a modification 20:59 – Example of a lease modification for downsizing leased space 24:07 – Modifications to combined versus separate lease contracts For more information, see chapter 5 of our Leases guide. You can also listen to the first episode in this series, Lease accounting reset - Presentation and disclosure . Be sure to follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to for the latest thought leadership. About our guests Marc Jerusalem is a managing director in PwC’s National Office specializing in leasing. Marc consults with clients on complex lease accounting issues and is a frequent contributor to many related PwC National Office publications. Suzanne Stephani is a director in PwC’s National Office specializing in the statement of cash flows as well as the application and interpretation of the accounting guidance related to financing and leasing transactions. About our host Heather Horn is the PwC National Office Sustainability and 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 us_podcast@pwc.com Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jun 19

A video of this podcast is available on YouTube, Spotify, or PwC’s website at viewpoint.pwc.com The European Commission’s Omnibus package continues to make its way through the legislative process. In this episode, we cover the most recent developments, including insights from recently leaked information and how businesses are reacting to potential changes. In this episode, we discuss: 2:53 – The legislative status of the content proposal and areas of debate 7:40 – Preparer feedback on the proposed changes in the content proposal 10:13 – Leak of Delegated Acts proposed to be deleted: Highlights and implications 14:46 – Changes to expect in the forthcoming ESRS drafts and timing of the comment period 17:10 – Themes in feedback shared with EFRAG 23:22 – Potential ESRS reliefs: materiality expansion, use of estimates, and grace periods for acquisitions Get caught up on the EU Omnibus package: Sustainability now: EU Omnibus in motion – May 2025 update Sustainability now: Navigating "Omnibus" uncertainty European Commission publishes ‘Omnibus’ proposals Looking for the latest developments in sustainability reporting? Read PwC’s Sustainability reporting guide Check out other episodes in our sustainability reporting podcast series About our guest Diana Stoltzfus is a partner in the National Office who helps to shape PwC’s perspectives on regulatory matters, responses to rulemakings and policy development, and implementation related to significant new rules and regulations. Prior to rejoining PwC, Diana was the Deputy Chief Accountant in the Office of the Chief Accountant (OCA) at the SEC where she led the activities of the OCA’s Professional Practices Group. About our host Heather Horn is the PwC National Office Sustainability and 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 us_podcast@pwc.com Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jun 17

We kick off our latest accounting miniseries on lease accounting with an episode on the related presentation and disclosure requirements. We break down key considerations across the balance sheet, income statement, and statement of cash flows, including what interim and annual disclosures are required as well as the treatment of lease incentives, sublease income, and more. In this episode, we discuss: 2:12 – Current versus noncurrent lease liabilities 5:37 – Presentation of lease incentives 11:40 – Income statement presentation of lease expense 16:29 – Classification of lease payments in the statement of cash flows 26:25 – Annual and interim lease disclosure requirements For more information, check out our Leases guide and the leasing chapter of the Financial statement presentation guide. Be sure to follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to stay in the loop. About our guests Marc Jerusalem is a PwC National Office managing director specializing in leasing. Marc consults with clients on complex lease accounting issues and is a frequent contributor to many related PwC National Office publications. Suzanne Stephani is a director in PwC’s National Office specializing in the statement of cash flows, as well as the application and interpretation of the accounting guidance related to financing and leasing transactions. About our host Heather Horn is the PwC National Office Sustainability and 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 us_podcast@pwc.com Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jun 12

In this special episode, we explore whether top-performing finance functions have reached a “terminal value” in their cost-cutting journey – and what comes next. As technologies like AI and advanced analytics evolve, finance leaders are shifting focus from efficiency to insight – rethinking operating models, talent strategies, and what it means to create value in a digital era. In this episode, we discuss: 1:18 – What “terminal value” means in finance and why top-performing functions may be approaching the limits of traditional cost-cutting 4:57 – How evolving finance operating models are incorporating new approaches to data, talent, and technology 9:07 – The rise of agentic AI and how autonomous agents are beginning to impact finance workflows 18:51 – Key leadership priorities for finance organizations navigating AI adoption and long-term transformation For more insights, read our publication Have top performing finance functions reached terminal value in the age of AI? Be sure to follow this podcast on your favorite podcast app and subscribe to our weekly newsletter for the latest thought leadership. About our guests Adam Kennedy is a PwC consumer markets finance leader focusing on business process improvement and finance effectiveness for Fortune 500 companies with an emphasis in retail, hospitality, and gaming. Adam provides consulting services on technology-driven finance transformation, end-to-end revenue stream management, merger integration support, financial analysis and reporting, risk management, and process improvement. Edward Ponagai is a PwC partner who leads large-scale back office transformations and merger integrations. He helps CFOs think through their organization’s big picture vision and purpose and drill down to address organizational challenges, operational processes, and technological innovations. About our guest host Guest host Diana Stoltzfus is a partner in the National Office who helps to shape PwC’s perspectives on regulatory matters, responses to rulemakings and policy development, and implementation related to significant new rules and regulations. Prior to rejoining PwC, Diana was the Deputy Chief Accountant in the Office of the Chief Accountant (OCA) at the SEC where she led the activities of the OCA’s Professional Practices Group. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jun 3

A video of this podcast is available on YouTube, Spotify, or PwC’s website at viewpoint.pwc.com We continue our video podcast miniseries focused on SEC reporting, helping you stay current on the evolving SEC landscape while taking a “back to basics” look at key reporting areas. As the SEC undergoes significant leadership changes, this episode offers a timely look at how recent developments are reshaping regulatory priorities. We offer insights into what these changes mean for companies and what they may expect going forward. In this episode, we discuss: 1:08 – The SEC’s leadership transition 6:35 – Interpretive guidance activity and compliance updates 14:53 – Crypto-related policy shifts 18:40 – Chair Atkins’ rulemaking priorities and enforcement strategy 26:28 – Executive compensation roundtable and potential disclosure reforms 32:19 – Legal challenges and the uncertain path ahead for the SEC’s climate rule 36:46 – Anticipated focus areas, including capital formation 40:09 – Practical advice for companies engaging with the SEC under its new leadership In case you missed it – check out the other episodes in this video podcast miniseries: Inside SEC reporting: Capital formation Inside SEC reporting: Acquisitions and divestitures Inside SEC reporting: Pro forma financial information Inside SEC reporting: Form 8-K (current report) Be sure to follow this podcast on your favorite podcast app and subscribe to our weekly newsletter for the latest thought leadership. Our guests: Elad Roisman , partner in the Corporate Governance and Board Advisory Practice and the Financial Institutions Group (FIG) Practice at Cravath, Swaine & Moore LLP. Lindsay McCord , a PwC National Office partner specializing in matters related to the SEC and the capital markets. Our guest host: Kyle Moffatt , PwC’s Professional Practice leader. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

May 29

A video of this podcast is available on YouTube, Spotify, or PwC’s website at viewpoint.pwc.com We're excited to share another video edition of our podcast on sustainability reporting—watch along as our sustainability specialists dive into the latest developments. Energy planning is a business issue, not just a utility issue. As the energy transition accelerates, the demands on power systems are rapidly evolving. In this episode, we explore how emerging technologies like AI are reshaping the grid, the impact of rising electricity demand, and how companies in every industry can manage the growing risks and opportunities in sustainable energy. In this episode, we discuss: 1:50 – How electricity is measured and why electricity demand is rising 5:53 – Grid vulnerabilities and strategies to energy planning 10:09 – Investment challenges: aging infrastructure, supply chains, and shifts in policy 20:51 – The potential and hurdles of advanced nuclear and hydrogen 26:40 – Managing peak demand through smart technologies, market design and policy 32:21 – How AI is driving energy demand and why cybersecurity is now critical for industrial systems 43:55 – What’s next: the role of solar, gas, and storage in a balanced grid Looking for the latest developments in sustainability reporting? Follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to stay in the loop for the latest thought leadership on sustainability standards. About our guest Casey Herman is a PwC Sustainability partner, leading a firmwide, cross functional team that assists companies with important ESG and sustainability matters. His team’s work spans from accurately reporting ESG data and progress to designing and implementing sustainable business strategies. Casey has more than 35 years of experience providing trust and consulting services to energy and utility companies. About our host Heather Horn is the PwC National Office Sustainability and 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 us_podcast@pwc.com Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

May 27

A video of this podcast is available on YouTube, Spotify, or PwC’s website at viewpoint.pwc.com We continue our video podcast miniseries focused on SEC reporting, helping you stay current on the evolving SEC landscape while taking a “back to basics” look at key reporting areas. In today’s episode, we discuss Form 8-K, a critical SEC filing for timely disclosure of significant corporate events. While foundational in nature, Form 8-K reporting involves a range of complex triggers and tight deadlines. We explore the fundamentals and hot topics shaping today’s Form 8-K reporting environment—including cybersecurity disclosure requirements, materiality assessments, and frequent challenges. In this episode, we discuss: 0:57 – Overview of Form 8-K reporting requirements 4:13 – Cybersecurity incident triggers and reporting requirements 7:58 – Key reminders and insights into frequent questions and common pitfalls, including: 15:05 –Acquisitions, dispositions, restructurings, and impairments 21:40 – Corporate governance-related activities 22:55 – Change in auditor 25:21 – Material contracts 27:04 – Change in segments In case you missed it – check out the other episodes in this video podcast miniseries: Inside SEC reporting: Capital formation Inside SEC reporting: Acquisitions and divestitures Inside SEC reporting: Pro forma financial information Be sure to follow this podcast on your favorite podcast app and subscribe to our weekly newsletter for the latest thought leadership. About our guests Raquel Fox is co-head of Skadden's SEC Reporting and Compliance practice and the head of the firm's U.S. ESG practice. She concentrates her practice in the areas of capital markets, M&A, corporate governance, and general corporate and securities matters, advising clients on the full range of SEC reporting and compliance requirements. Kevin Vaughn is a PwC National Office partner specializing in SEC reporting matters. He leverages his extensive experience to support PwC public company and pre-IPO clients on accounting and SEC reporting matters. Prior to joining PwC in 2023, he spent over 18 years at the SEC, most recently serving on the leadership team in the SEC’s Office of the Chief Accountant where he focused on technical accounting consultations, SEC rulemakings, and standard setting matters. About our guest host 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, he spent almost 20 years with the SEC, most recently as Chief Accountant and Disclosure Program Director in the Division of Corporation Finance. Transcripts available upon request for individuals who may need a disability-related accommodation. Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

May 22

A video of this podcast is available on YouTube, Spotify, or PwC’s website at viewpoint.pwc.com We're excited to share another video edition of our podcast on sustainability reporting—watch along as our sustainability specialists dive into the latest developments. As sustainability reporting evolves, the GHG Protocol is undergoing its first major update in over a decade. In this episode, we break down the proposed revisions to the Corporate Standard, Scope 2 Guidance, and Scope 3 Standard—highlighting what changes are being considered, why they matter, and how they could impact future reporting frameworks. In this episode, we discuss: 2:26 – The significance of the GHG Protocol and the recent overhaul to its governance and standard setting process 8:58 – Key focus areas of the four technical working groups (Corporate, Scope 2, Scope 3, Market Instruments) 14:20 – Debates as to the starting point of emissions reporting: organizational boundaries 20:17 – Scope 3 reporting and integration into the Corporate Standard 24:53 – Complex judgments in reporting scope 3, category 15 (Investments): Financed emissions 28:41 – Scope 2 methodology updates: market-based versus location-based emissions 39:08 – New questions about market instruments and project-based actions 44:33 – Timeline for proposed updates and what stakeholders should do now Looking for more on GHG emissions reporting? Watch or listen in to our recent video podcasts on GHG reporting, Sustainability now: GHG measurement made manageable and Sustainability now: GHG reporting questions answered Check out our GHG podcast miniseries, Talking GHG , along with other Sustainability now episodes Read chapter 7 of PwC’s Sustainability reporting guide , Greenhouse gas emissions reporting Follow our series and subscribe to our weekly newsletter to stay in the loop Guest: Marcin Olewinski - PwC Assurance practice partner Host: Heather Horn - PwC National Office Sustainability and Thought Leader Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

May 20

A video of this podcast is available on YouTube, Spotify, or PwC’s website at viewpoint.pwc.com We continue our video podcast miniseries focused on SEC reporting, helping you stay current on the evolving SEC landscape while taking a “back to basics” look at key reporting areas. In today’s episode, we discuss pro forma financial information. We break down when and why pro formas are required under SEC rules, and we discuss key considerations on preparation and presentation; we also share common pitfalls. Whether you’re dealing with an acquisition, divestiture, or capital raise, this episode brings you key insights to help you navigate the requirements for pro forma financial information. In this episode, we discuss: 1:40 – Types of transactions that typically require SEC pro forma financial information 7:02 – “Significance” and when it triggers pro forma reporting requirements 10:22 – Types of filings in which pro forma financial information may be included 11:52 – Pro forma financial information reporting requirements 12:18 – Reporting periods required 15:30 – Form and content of reporting 24:10 – Types of pro forma adjustments (i.e., transaction accounting, autonomous entity adjustment, management adjustment) 36:06 – Prohibitions on the presentation of pro forma financial information 38:25 – Other reminders, including treatment of multiple transactions and tax effects In case you missed it – check out the other episodes in this video podcast miniseries: Inside SEC reporting: Capital formation Inside SEC reporting: Acquisitions and divestitures Be sure to follow this podcast on your favorite podcast app and subscribe to our weekly newsletter for the latest thought leadership. About our guest Scott Feely is a partner in PwC’s National Office. He has over 30 years of experience supporting clients as they address the SEC and financial reporting implications of their capital markets and merger and acquisition-related activities. About our guest host 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. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

May 15

A video of this podcast is available on YouTube, Spotify, or PwC’s website at viewpoint.pwc.com We're excited to share another video edition of our podcast on sustainability reporting—watch along as our sustainability specialists dive into the latest developments. In this episode, we provide an update on the European Commission’s Omnibus package and what it means for sustainability reporting under the ESRS framework. From the formal delay in wave 2 and wave 3 reporting requirements to expected simplifications of ESRS standards, we explore the latest legislative and technical developments and what companies should anticipate next. Drawing on insights from the recent EFRAG meeting and our response to their request for comment, we also highlight how stakeholder feedback is shaping the evolving landscape. In this episode, we discuss: 1:19 – Overview of the EU’s omnibus package and its impacts to ESRS 3:00 – Legislative status of the “stop the clock” proposal and next steps for the content proposal 15:22 – EFRAG’s “actionable levers for substantial simplification” 18:38 – PwC’s response to EFRAG Questionnaire for Public Feedback: ESRS Set 1 Revision 31:39 – Status of proposed amendments to the EU taxonomy and advice for companies during this time of change Resources mentioned in today’s episode: Sustainability now: Insights from the first CSRD reports In search of sustainable value: The CSRD journey begins PwC responds to EFRAG Questionnaire for Public Feedback: ESRS Set 1 Revision Looking for the latest developments in sustainability reporting? Refer to our publication on the EU Omnibus proposals along with our prior podcast episode, Sustainability now: Navigating “Omnibus” uncertainty Read PwC’s Sustainability reporting guide Check out our sustainability reporting podcast series Guest: Diana Stoltzfus - Partner, PwC National Office Host: Heather Horn - PwC National Office Sustainability and Thought Leader Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

May 13

A video of this podcast is available on YouTube, Spotify, or PwC’s website at viewpoint.pwc.com. We continue our video podcast miniseries focused on SEC reporting, helping you stay current on the evolving SEC landscape while taking a “back to basics” look at key reporting areas. In today’s episode, we discuss acquisitions and divestitures—transactions that often involve complex reporting requirements. We cover technical guidance and practical implications for a range of deal-related topics, including significance tests, carve-out financials, spin-off considerations, and more. In a deal environment that is both volatile and diverse, understanding reporting nuances is essential for staying ahead of regulatory requirements and market expectations. In this episode, we discuss: 2:39 – Overview of the current M&A environment 6:50 – Distinctions between business acquisitions under US GAAP and SEC rules 9:58 – Reporting considerations for significant acquisitions, including: 16:07 – Applying the three-part significance test 23:20 – Requirements tied to Form 8-K, registration statements, and Form S-4 31:02 – Practical M&A insights 38:31 – Divestiture reporting and carve-out financial statement considerations 49:30 – Standalone reporting for divested businesses, including spin-offs, subsidiary IPOs, and private sales. In case you missed it – check out the first episode of this video podcast miniseries, Inside SEC reporting: Capital formation . Be sure to follow this podcast on your favorite podcast app and subscribe to our weekly newsletter for the latest thought leadership. About our guests Scott Feely is a partner in PwC’s National Office. He has over 30 years of experience supporting clients as they address the SEC and financial reporting implications of their capital markets and merger and acquisition-related activities. Liz Crego is a seasoned deals advisor and our US Deals Clients and Markets leader who specializes in accounting and financial reporting associated with complex global transactions, including divestitures, capital raising activities, and M&A across sectors. About our guest host 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. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

May 8

Companies face growing uncertainty about clean energy tax credits, tariffs, and the related regulatory guidance. In this episode, we explore the current state of clean energy investments, evolving financing structures, and the complex compliance landscape shaping renewable energy strategies today. In this episode, we discuss: 1:19 – A refresher on the scope and objectives of the IRA 3:50 – How the administration change has affected clean energy projects and capital flow, including the role of new tariffs 14:59 – Complexities in prevailing wage, apprenticeship rules, and domestic content requirements 22:37 – Navigating guidance related to clean fuels and transferability of credits 33:33 – A look at positive outcomes like job growth, battery storage integration, and rising demand for renewables 33:36 – Strategic recommendations amid shifting policy, stakeholder expectations, and growing energy demands from AI Looking for the latest developments in sustainability reporting? Follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to stay in the loop for the latest thought leadership on sustainability standards. About our guest Randa Barsoum is a tax partner specializing in federal energy tax credits, advising on Inflation Reduction Act (IRA) tax credits, cost segregations, and fixed assets. Randa specializes in energy-related tax incentives and has been instrumental in guiding clients through the complexities of new tax legislation. About our guest host Guest host Diana Stoltzfus is a partner in the National Office who helps to shape PwC’s perspectives on regulatory matters, responses to rulemakings, policy development, and implementation related to significant new rules and regulations. Prior to rejoining PwC, Diana was the Deputy Chief Accountant in the Office of the Chief Accountant (OCA) at the SEC where she led the activities of the Professional Practices Group within the OCA. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

May 6

A video of this podcast is available on YouTube, Spotify, or PwC’s website at viewpoint.pwc.com This episode kicks off a new video miniseries focused on SEC reporting that will keep you up to speed on the SEC landscape and take a “back to basics” look at key reporting areas. In today’s episode, we cover capital raising, one of the pillars of the SEC’s tripartite mission and a focus of the new SEC Chairman. Whether you're preparing for an IPO or navigating ongoing public company reporting, this discussion breaks down the key requirements and considerations. From SEC filing requirements to readiness, our guests share insights for companies at every stage of growth. In this episode, we discuss: 1:11 – Overview of the capital markets, including IPO activity 4:48 – Key disclosure obligations for new public companies 17:47 – Overview of the IPO process (e.g., SEC reviews, confidential filings, roadshow and pricing process) 24:05 – Financial disclosures, interim reporting, and pro forma adjustments 32:36 – Public company readiness (e.g., governance, systems, investor communications) 36:12 – Other capital raising considerations (e.g., follow-on offerings, shelf registrations, seasoned issuer reviews) Be sure to follow this podcast on your favorite podcast app and subscribe to our weekly newsletter for the latest thought leadership. About our guests Ryan Spencer is a partner at PwC's National Office specializing in SEC financial reporting. He has over 25 years of experience serving clients and is a frequent contributor to PwC’s publications and communications. Mike Bellin is a PwC Deals partner who leads PwC’s US Capital Markets practice. Mike advises clients on accessing the debt and equity capital markets by providing clients with technical/project management advice on complex accounting and financial reporting issues associated with the SEC registration process, IPOs, direct listings, SPAC mergers, 144A debt and equity offerings, divestitures, spin-offs and carve-outs, and GAAP conversions. About our guest host 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. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

May 1

As the first wave of companies report under the EU’s Corporate Sustainability Reporting Directive (CSRD), PwC analyzed corporate sustainability statements. In this week’s podcast, host Heather Horn welcomes back Nadja Picard, PwC’s Global Reporting Leader, to dive into the key findings from more than 250 published reports. They explore emerging trends, surprising gaps, and what these insights mean for companies yet to report. In this episode, we discuss: 01:47 – Overview of PwC’s analysis of 250+ CSRD reports 04:29 – Key findings: variability in disclosures and early trends 08:49 – Most common material topics and sector-specific patterns 18:35 – Entity-specific disclosures: cybersecurity, AI, and tax 24:44 – Climate reporting practices and assurance observations 33:26 – Practical guidance for companies preparing to report under CSRD For more on PwC’s analysis of 250 corporate sustainability statements, see our publication In search of sustainable value: The CSRD journey begins . Looking for more on the investor survey referenced in today’s podcast? Check out PwC’s 2024 Global Investor Survey and PwC’s global investor survey: What’s top of mind for 2025? About our guest 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. About our host Heather Horn is the PwC National Office Sustainability and 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Apr 29

In this episode, we continue our miniseries on financial statement presentation and disclosure with a focus on derivatives and hedging. Derivatives and hedging are topics applicable to many companies, but the accounting and related presentation and disclosures can be complex. This episode breaks down the requirements with practical insights and guidance. In this episode, we discuss: 1:10 – An overview of derivatives and hedging, including common examples 3:34 – Balance sheet presentation 9:03 – Income statement presentation 11:42 – Cash flow statement classification 15:19 – Key disclosure requirements For more information, see chapter 19 of our Financial statement presentation guide and our Derivatives and hedging guide. You can also listen to the other episodes in this miniseries: Reporting reset – Presentation fundamentals Reporting reset – Fair value disclosures Reporting reset – Consolidation disclosures Reporting reset – Stock-based compensation Reporting reset – Loans, receivables, and investments Be sure to follow this podcast on your favorite podcast app and subscribe to our weekly newsletter for the latest thought leadership. About our guest Bret Dooley is a PwC National Office Deputy Chief Accountant 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. About our host Heather Horn is the PwC National Office Sustainability and 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Apr 24

A video of this podcast is available on YouTube, Spotify, or PwC’s website at viewpoint.pwc.com. We're excited to continue our video podcast series on the foundations of sustainability reporting. Now watch along with our sustainability specialists as they discuss the latest on sustainability. With the first wave of companies reporting under the European Sustainability Reporting Standards (ESRS), we address some practical implementation questions about GHG emissions reporting and provide practical examples to help companies apply the ESRS requirements. In this episode, we discuss: 2:45 – Organizational boundary guidance under the GHG Protocol versus ESRS, including insights on some challenges companies are facing 5:27 – Reporting emissions from leased assets 13:13 – Reporting emissions associated with investment entities 18:33 – Scope 3 measurement and minimum boundaries 44:02 – Determining relevant scope 3 categories 50:25 – Complexities when disclosing targets Looking for more on GHG emissions reporting? *Refer to our publication on the EU Omnibus proposals to amend certain of the reporting requirements, including some that may be mentioned in this episode (this episode was recorded prior to the release of the Omnibus) Watch or listen in to last week’s video podcast, Sustainability now: GHG measurement made manageable Check out our GHG miniseries, Talking GHG , along with other Sustainability now episodes Read Chapter 7 of PwC’s Sustainability reporting guide , Greenhouse gas emissions reporting Follow our series and subscribe to our weekly newsletter to stay in the loop About our guest Marcin Olewinski is a PwC Assurance practice partner, with over 20 years of experience bringing valued perspectives and insights to large clients in the energy sector. Additionally, he’s focused extensively within PwC’s National Office on greenhouse gas emissions and sustainability reporting and leads PwC’s global technical working group focused on GHG. About our host Heather Horn is the PwC National Office Sustainability and 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 us_podcast@pwc.com Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Apr 22

We continue our back-to-basics series on financial statement presentation and disclosure with a focus on loans, receivables, and investments – accounts that affect nearly every business. In this episode, we walk through the key presentation and disclosure requirements and examine recent guidance updates for creditors accounting for certain loan modifications. In this episode, we discuss: 2:05 – Key considerations for loans and receivables, including: 3:08 – Presentation in the balance sheet and income statement 7:20 – Disclosure requirements 8:35 – New guidance (ASU 2022-02) on creditors’ accounting for certain loan modifications 13:30 – Key considerations for investments, including: 14:05 – Presentation in the balance sheet and income statement 18:22 – Disclosure requirements For more information, see chapter 9 of our Financial statement presentation guide and our Loans and investments guide. You can also listen to the other episodes in this miniseries: Reporting reset – Presentation fundamentals Reporting reset – Fair value disclosures Reporting reset – Consolidation disclosures Reporting reset – Stock-based compensation Be sure to follow this podcast on your favorite podcast app and subscribe to our weekly newsletter for the latest thought leadership. About our guest Catherine Espino is a partner in PwC’s National Office with 20 years of experience serving large financial institutions, broker-dealers, as well as smaller subsidiaries and private companies. Catherine focuses on advising companies within the financial services and non-financial services sectors on significant and complex accounting issues. About our guest host 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. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Apr 17

A video of this podcast is available on YouTube, Spotify, or PwC’s website at viewpoint.pwc.com. Greenhouse gas (GHG) emissions reporting is central to sustainability disclosures—and measuring those emissions accurately is critical to transparent reporting. In this episode, we walk through PwC’s five-step process for GHG reporting, with a deep dive into measurement approaches across scope 1, 2, and 3 emissions. In this episode, we discuss: 1:40 – PwC’s 5-step process for GHG emissions reporting 6:43 – Scope 1 emissions: direct and indirect measurement methodologies 13:56 –Scope 2 emissions: market-based versus location-based methods 33:17 – Scope 3 emissions: minimum boundaries and measurement approaches for upstream and downstream emissions 50:24 – Key takeaways on measuring emissions based on practical experience Looking for more on GHG emissions reporting? Check out our GHG miniseries, Talking GHG , along with other Sustainability now episodes Read Chapter 7 of PwC’s Sustainability reporting guide , Greenhouse gas emissions reporting Follow our series and subscribe to our weekly newsletter to stay in the loop About our guest Marcin Olewinski is a PwC Assurance practice partner, with over 20 years of experience bringing valued perspectives and insights to large clients in the energy sector. Additionally, he’s focused extensively within PwC’s National Office on greenhouse gas emissions and sustainability reporting and leads PwC’s global technical working group focused on GHG. About our host Heather Horn is the PwC National Office Sustainability and 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Apr 15

We continue our back-to-basics series on financial statement presentation and disclosure with an episode focused on stock-based compensation. This episode breaks down the key presentation and disclosure principles and how stock-based compensation is reflected in each of the financial statements. In this episode, we discuss: 0:55 – Stock-based compensation presentation in the: 1:09 – Balance sheet 9:36 – Income statement 11:34 – Statement of cash flows 18:29 – Statement of stockholders’ equity 20:58 – Key stock-based compensation disclosure requirements For more information, see chapter 15 of our Financial statement presentation guide and our Stock-based compensation guide. You can also listen to the other episodes in this miniseries: Reporting reset – Presentation fundamentals Reporting reset – Fair value disclosures Reporting reset – Consolidation disclosures Be sure to follow this podcast on your favorite podcast app and subscribe to our weekly newsletter for the latest thought leadership. About our guest 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. About our host Heather Horn is the PwC National Office Sustainability and 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Apr 10

A video of this podcast is available on YouTube , Spotify, or PwC’s website at viewpoint.pwc.com . We're excited to continue our video podcast series on the foundations of sustainability reporting. Now watch along with our sustainability specialists as they discuss the latest on sustainability. In this episode, we explore the foundational concepts that underpin sustainability reporting. From qualitative characteristics and connectivity with financial statements to measurement approaches and general disclosure requirements, we break down what preparers need to know under both the European Sustainability Reporting Standards (ESRS) and International Sustainability Standards Board (ISSB) standards. In this episode, we discuss: 1:52 – An overview of the foundations of sustainability reporting 3:10 – The qualitative characteristics of sustainability reporting under ESRS and ISSB standards 15:29 – Connectivity with the financial statements 18:12 – Three steps to develop quantitative measurements 29:31 – General disclosure requirements under ESRS and ISSB standards Looking for the latest developments in sustainability reporting? Read Chapter 5 of PwC’s Sustainability reporting guide , Foundations of sustainability reporting Follow our series and subscribe to our weekly newsletter to stay in the loop About our guest Diana Stoltzfus is a partner in the National Office who helps to shape PwC’s perspectives on regulatory matters, responses to rulemakings, and policy development, and implementation related to significant new rules and regulations. Prior to rejoining PwC, Diana was the Deputy Chief Accountant in the Office of the Chief Accountant (OCA) at the SEC where she led the activities of the Professional Practices Group within the OCA. About our host Heather Horn is the PwC National Office Sustainability and 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Apr 8

We continue our back-to-basics series on financial statement presentation with an episode focused on consolidation disclosures. These disclosures can be complex, covering both consolidated entities – such as variable interest entities (VIEs) and voting interest entities (VOEs) – as well as variable interests in VIEs that are not consolidated. This episode breaks down the relevant frameworks, presentation principles, and disclosure requirements. In this episode, we discuss: 2:00 – The purpose of consolidated financial statements and the guiding frameworks 5:50 – General consolidation presentation and disclosure principles 8:00 – Principles and objectives for the presentation and disclosure of variable interests in VIEs, including from the perspective of: 12:22 – A holder of variable interests in a VIE, regardless of primary beneficiary status 14:21 – A primary beneficiary of a VIE 16:17 – An entity with variable interests in VIEs for which it is not the primary beneficiary 20:35 – Presentation and disclosure considerations for VOEs For more information, see chapter 18 of our Financial statement presentation guide and our Consolidation guide. You can also listen to the other episodes in this miniseries: Reporting reset – Presentation fundamentals Reporting reset – Fair value disclosures About our guests Alexander Martin is a partner in PwC's Deals practice who specializes in helping clients solve complex accounting, financial reporting, and business issues arising from deals, structured transactions, and other transformational events. With over 15 years of experience, Alexander has deep expertise in US GAAP and SEC reporting, gained through his roles as an advisor in PwC's Deals practice, a regulator at the SEC, and most recently as a partner in PwC's National Office. 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. About our guest host Diana Stoltzfus is a partner in the National Office who helps to shape PwC’s perspectives on regulatory matters, responses to rulemakings, and policy development, and implementation related to significant new rules and regulations. Prior to rejoining PwC, Diana was the Deputy Chief Accountant in the Office of the Chief Accountant (OCA) at the SEC where she led the activities of the Professional Practices Group within the OCA. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Apr 3

A video of this podcast is available on YouTube, Spotify, or PwC’s website at viewpoint.pwc.com . We're excited to continue our video podcast series on the foundations of sustainability reporting. Now watch along with our sustainability specialists as they discuss the latest on sustainability. Despite the ever-changing landscape, materiality remains the cornerstone of sustainability reporting – and it’s here to stay. In this episode, we discuss how materiality is defined and applied under both the European Sustainability Reporting Standards (ESRS) and International Sustainability Standards Board’s (ISSB) standards, highlighting key similarities and differences. In this episode, we discuss: 2:13 – Understanding double materiality and impacts, risks, and opportunities (IROs) in the ESRS framework 19:15 – Considering long-term horizons, cumulative effects, and uncertainty under ESRS 26:39 – Disclosure of relevant IROs under ESRS, including the importance of stakeholders 34:21 – The concept of materiality under ISSB standards 40:23 – ISSB risks and opportunities Identifying impacts, risks, and opportunities as well as performing a double materiality assessment are fundamental areas of reporting in accordance with ESRS that are not expected to be impacted by the European Commission’s “Omnibus” proposals at this time. For information on how the “Omnibus” proposals could impact reporting, check out PwC’s publication . About our guest Diana Stoltzfus is a partner in the National Office who helps to shape PwC’s perspectives on regulatory matters, responses to rulemakings, and policy development, and implementation related to significant new rules and regulations. Prior to rejoining PwC, Diana was the Deputy Chief Accountant in the Office of the Chief Accountant (OCA) at the SEC where she led the activities of the Professional Practices Group within the OCA. About our host Heather Horn is the PwC National Office Sustainability and 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Apr 1

We continue our back-to-basics series on financial statement presentation with an episode focused on fair value disclosures. Fair value measurements are used across many areas of financial reporting—and the related disclosure requirements can be extensive. From recurring versus nonrecurring measurement disclosures to those relating to fair value hierarchy, we highlight key considerations. In this episode, we discuss: 1:09 – General fair value disclosure requirements 8:13 – Fair value hierarchy disclosures 14:52 – Disclosures of unobservable inputs and valuation techniques 17:04 – Concentrations of credit risk and market risk disclosures 18:35 – Fair value disclosures for instruments not measured at fair value 19:48 – Applying the fair value option 27:52 – SEC comment letter trends For more information, see chapter 20 of our Financial statement presentation guide and our Fair value guide. You can also listen to the first episode in this series, Reporting reset – Presentation fundamentals . Be sure to follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to for the latest thought leadership. About our guest Bret Dooley is a PwC National Office Deputy Chief Accountant 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. About our host Heather Horn is the PwC National Office Sustainability and 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Mar 27

A video of this podcast is available on YouTube, Spotify, or PwC’s website at viewpoint.pwc.com . We're excited to continue our video podcast series on the foundations of sustainability reporting. Now watch along with our sustainability specialists as they discuss the latest on sustainability. Understanding the boundaries, or reporting scope, of sustainability reporting frameworks, including with the European Sustainability Reporting Standards and IFRS Sustainability Disclosure Standards, is critical for compliance. In this episode, we explore key concepts like own operations, value chain, and time boundaries to help companies navigate sustainability reporting alongside financial reporting. In this episode, we discuss: 1:08 – What the term “boundaries” means for sustainability reporting 2:49 – How sustainability and financial reporting boundaries compare 14:31 – Understanding upstream and downstream value chains and why they are part of sustainability reporting 25:32 – Time horizons for reporting, including short, medium, and long term 30:38 – How to handle changes in entity structure during the year ICYMI: Check out the five episodes of this miniseries: Sustainability now: Navigating shifts in the reporting landscape Sustainability now: An overview of key reporting frameworks Sustainability now: Determining required reporting Sustainability now: Navigating “Omnibus” uncertainty Sustainability now: California climate reporting laws continue on About our guest Diana Stoltzfus is a partner in the National Office who helps to shape PwC’s perspectives on regulatory matters, responses to rulemakings, and policy development, and implementation related to significant new rules and regulations. Prior to rejoining PwC, Diana was the Deputy Chief Accountant in the Office of the Chief Accountant (OCA) at the SEC where she led the activities of the Professional Practices Group within the OCA. About our host Heather Horn is the PwC National Office Sustainability and 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Mar 25

We kick off our latest accounting series focused on financial statement presentation and we go back to the basics. This first episode sets the stage by covering foundational reporting principles, key disclosure considerations, notable differences between public and private company financial statements, and accounting changes and error corrections. In this episode, we discuss: 1:04 – Foundational GAAP and SEC requirements for financial statement presentation 2:46 – Determining appropriate reporting periods 5:01 – Balance sheet presentation: classification, required disclosures, and best practices 11:23 – Income statement presentation: structure and key considerations 21:10 – Accounting changes, estimates, and error corrections 31:50 – Subsequent events: recognition and disclosure For more on this topic read the following chapters in our Financial statement presentation guide: Chapter 1: General presentation and disclosure requirements Chapter 2: Balance sheet Chapter 3: Income statement Chapter 28: Subsequent events Chapter 30: Accounting changes Additionally, follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to stay in the loop for the latest thought leadership. About our guest Pat Durbin is a PwC National Office Deputy Chief Accountant. 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. About our host Guest host Diana Stoltzfus is a partner in the National Office who helps to shape PwC’s perspectives on regulatory matters, responses to rulemakings, and policy development, and implementation related to significant new rules and regulations. Prior to rejoining PwC, Diana was the Deputy Chief Accountant in the Office of the Chief Accountant (OCA) at the SEC where she led the activities of the Professional Practices Group within the OCA. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Mar 20

A video of this podcast is available on YouTube, Spotify, or PwC’s website at viewpoint.pwc.com. California’s climate disclosure laws have broad implications for businesses worldwide. In this episode, we break down the key reporting requirements, including on greenhouse gas (GHG) and climate risk, and discuss how companies—whether headquartered in California or not—can prepare. In this episode, we discuss: 1:10 – Overview of California’s climate disclosure laws 3:45 – Scope of California SB 253 14:05 – Greenhouse gas reporting required by California SB 253 24:52 – Scope of California SB 261 31:42 – Climate risk reporting under the Task Force on Climate-Related Financial Disclosures (TCFD) framework 37:57 – Interoperability with the International Sustainability Standards Board and the European Sustainability Reporting Standards 39:18 – California legal challenges, activity in other states, and why companies should continue to move forward As referenced in the episode, check out PwC’s report Still early days – A review of year two of TCFD reporting for more information on reporting in accordance with the TCFD. About our guests Marcin Olewinski is a PwC Assurance practice partner with over 20 years of experience bringing valued perspectives and insights to large clients in the energy sector. Additionally, he’s focused extensively within PwC’s National Office on greenhouse gas emissions and sustainability reporting and leads PwC’s global technical working group focused on GHG. Diana Stoltzfus is a partner in the National Office who helps to shape PwC’s perspectives on regulatory matters, responses to rulemakings, and policy development, and implementation related to significant new rules and regulations. Prior to rejoining PwC, Diana was the Deputy Chief Accountant in the Office of the Chief Accountant (OCA) at the SEC where she led the activities of the Professional Practices Group within the OCA. Valerie Wieman is a PwC National Office partner with over 30 years of experience. She is one of the firm’s technical experts on sustainability reporting and helps lead the creation, development, and publication of our brand-defining thought leadership, with a focus on domestic and international sustainability requirements. About our host Heather Horn is the PwC National Office Sustainability and 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. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Mar 18

Tariffs are dominating headlines and reshaping global trade. In this episode we break down what they may mean for businesses and financial reporting, and we share insights on how companies can prepare. In this episode, we discuss: 1:44 – Overview of tariffs and the current state of play 16:28 – Key financial reporting impacts 21:12 – Reciprocal tariffs: Country- and industry-specific impacts 25:44 – Accounting implications: Cost capitalization, customer contracts, asset impairments, income taxes, and disclosures 37:30 – Strategies for managing tariff impacts For more on this topic, read our publications, Accounting implications of tariffs and How Trump's tariffs could impact US companies . About our guests Christopher Desmond is a leader in PwC's US Global Trade Services team with over 20 years of experience in transfer pricing. He is known for customized offerings in trade / tariffs combined with other specialties such as supply chain, transfer pricing, and international tax. Chris develops transfer pricing and value chain strategies to help clients manage their businesses using a “best foot forward” approach. Pat Durbin is a PwC National Office Deputy Chief Accountant. 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. About our host Heather Horn is the PwC National Office Sustainability and 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Mar 13

A video of this podcast is available on YouTube, Spotify, or PwC’s website at viewpoint.pwc.com . We're excited to continue our video podcast series on the foundations of sustainability reporting. Now watch along with our sustainability specialists as they discuss the latest on sustainability. In this bonus episode, we break down the EU’s Omnibus proposal released on February 26, covering key changes to the Corporate Sustainability Reporting Directive (CSRD), including potential impacts to timing and requirements. Join PwC’s Heather Horn and Diana Stoltzfus as they discuss the implications for companies and what’s next in the legislative process. In this episode, we discuss: 1:46 – Background on the regulatory changes driving the Omnibus proposals 5:20 – The process and timeline of the CSRD proposals 9:58 – Two CSRD proposals – “stop the clock” and content revision – and potential implications 29:30 – The next steps for these proposals 31:40 – Proposed changes to EU Taxonomy regulations and member state transposition 37:28 – How companies can consider these potential changes before they become final ICYMI: Check out the first three episodes of this miniseries: Sustainability now: Navigating shifts in the reporting landscape Sustainability now: An overview of key reporting frameworks Sustainability now: Determining required reporting About our guest Diana Stoltzfus is a partner in the National Office who helps to shape PwC’s perspectives on regulatory matters, responses to rulemakings, and policy development, and implementation related to significant new rules and regulations. Prior to rejoining PwC, Diana was the Deputy Chief Accountant in the Office of the Chief Accountant (OCA) at the SEC where she led the activities of the Professional Practices Group within the OCA. About our host Heather Horn is the PwC National Office Sustainability and 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Mar 11

A video of this podcast is available on YouTube, Spotify, or PwC’s website at viewpoint.pwc.com . We're excited to continue a video podcast series on the foundations of sustainability reporting. Now watch along with our sustainability specialists as they discuss the latest on sustainability. Understanding which sustainability reporting frameworks apply to your company is a crucial first step in compliance. In this episode, we break down the complexities of determining which reporting frameworks apply to which entities, from the EU’s Corporate Sustainability Reporting Directive (CSRD) to the International Sustainability Standards Board’s standards. We also explore how companies can navigate reporting requirements across jurisdictions. In this episode, we discuss: 2:20 – Where to begin the reporting process 4:29 – Determining if an entity falls under the CSRD requirements 28:58 – ISSB adoption and global reporting considerations 31:17 – Practical advice for companies navigating reporting developments ICYMI: Check out the first two episodes of this miniseries, Sustainability now: Navigating shifts in the reporting landscape and Sustainability now: An overview of key reporting frameworks . Looking for the latest developments in sustainability reporting? *Refer to our publication on the EU Omnibus proposals to amend certain of the reporting requirements, including some that may be mentioned in this episode (this episode was recorded prior to the release of the Omnibus) Read PwC’s Sustainability reporting guide Follow our series and subscribe to our weekly newsletter to stay in the loop. About our guest Valerie Wieman is a PwC National Office partner with over 30 years of experience. She is one of the firm’s technical experts on sustainability reporting and helps lead the creation, development, and publication of our brand-defining thought leadership, with a focus on domestic and international sustainability requirements. About our host Heather Horn is the PwC National Office Sustainability and 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Mar 6

A video of this podcast is available on YouTube, Spotify, or PwC’s website at viewpoint.pwc.com . In this episode, we continue with an overview of key frameworks, regulatory developments, and resources to leverage on the reporting journey. Host Heather Horn is joined by PwC sustainability reporting specialists and National Office partners, Marcin Olewinski, Diana Stolzfus, and Valerie Wieman to cover the key sustainability reporting frameworks that are expected to have the broadest impact globally as well as interoperability among them. In this episode, we discuss: 1:45 – Overview of the key sustainability reporting frameworks expected to have the broadest impact globally 5:07 – Corporate Sustainability Reporting Directive, or CSRD, as part of a broader EU regulatory regime* 14:18 – International Sustainability Standards Board, or ISSB, standards and inoperability with other frameworks 29:10 – GHG Protocol for mandatory and voluntary reporting of greenhouse gas emissions now and in the future 36:13 – Voluntary reporting frameworks including: Task Force on Climate-related Financial Disclosures (TCFD) Global Reporting Initiative (GRI) Climate Disclosure Standards Board (CDSB) Task Force on Nature-related Financial Disclosures (TNFD) 44:53 – Practical advice on approaching sustainability reporting requirements in an evolving landscape About our guests Marcin Olewinski is a PwC Assurance practice partner, with over 20 years of experience bringing valued perspectives and insights to large clients in the energy sector. Additionally, he’s focused extensively within PwC’s National Office on greenhouse gas emissions and sustainability reporting and leads PwC’s global technical working group focused on GHG. Diana Stoltzfus is a partner in the National Office who helps to shape PwC’s perspectives on regulatory matters, responses to rulemakings, and policy development, and implementation related to significant new rules and regulations. Prior to rejoining PwC, Diana was the Deputy Chief Accountant in the Office of the Chief Accountant (OCA) at the SEC where she led the activities of the Professional Practices Group within the OCA. Valerie Wieman is a PwC National Office partner with over 30 years of experience. She is one of the firm’s technical experts on sustainability reporting and helps lead the creation, development, and publication of our brand-defining thought leadership, with a focus on domestic and international sustainability requirements. About our host Heather Horn is the PwC National Office Sustainability and 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 us_podcast@pwc.com Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Feb 25

A video of this podcast is available on YouTube, Spotify, or PwC’s website at viewpoint.pwc.com As the headlines continue to highlight, the sustainability reporting landscape is evolving rapidly in the US and beyond. In this episode, we kick off our miniseries on the foundations of sustainability reporting by exploring key US regulatory shifts under the new administration, the role of sustainability initiatives in various US states, and global sustainability reporting trends and updates. We break down what these developments mean for businesses and how to prepare for what's to come. In this episode, we discuss: 02:53 – The fast-changing sustainability reporting landscape 05:54 – SEC climate rule updates and expected regulatory shifts 22:33 – State sustainability regulations: California and other states 27:13 – The potential impact of the upcoming EU’s omnibus regulations 30:06 – How to move forward amid uncertainty Looking for the latest developments in sustainability reporting? Read PwC’s Sustainability reporting guide Refer to Acting Chairman Mark Uyeda’s Statement on climate-related disclosure rules Follow our series and subscribe to our weekly newsletter to stay in the loop About our guest 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. About our host Heather Horn is the PwC National Office Sustainability and 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Feb 18

2025 has ushered in a new wave of public policy changes with the return of the Trump administration and Republican control of all three branches of government. From executive orders and regulatory shifts to SEC developments, trade policies, and AI regulation, businesses are facing a rapidly-evolving landscape. In this episode, we break down the latest updates and the impacts they could have on businesses. In this episode, we discuss: 1:50 – The rapid pace of executive orders and regulatory actions 9:27 – The current priorities of the new administration 22:30 – Potential impacts on the PCAOB and SEC 40:29 – Tax policy outlook and potential corporate tax changes 49:21 – AI regulation, mergers and acquisitions, and more For more on the new administration’s impacts on tax policy, listen to PwC’s Accounting podcast episode: US tax policy outlook – What’s ahead of 2025 . Follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to stay in the loop for the latest thought leadership on sustainability standards. About our guest Roz Brooks is PwC's US Public Policy Leader. Roz is responsible for ensuring PwC has a voice in important debates at the nexus of business and government and helping the firm successfully execute its business strategy. Roz leads PwC’s engagement with Congress, the White House, regulatory agencies, state and local governments, and organizations including trade associations, think tanks, and NGOs. About our host Guest host 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. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Feb 11

With a new administration in place and key provisions of the Tax Cuts and Jobs Act set to expire, 2025 is shaping up to be a pivotal year for US tax policy. In this episode, we break down the latest policy developments, potential new legislation, and what these changes could mean for businesses. In this episode, we discuss: 1:41 – The current landscape of US tax policy 6:31 – The legislative roadmap, including budget reconciliation 13:14 – Key provisions likely to shape a 2025 tax bill 23:31 – International tax initiatives and their connection to US policy 29:05 – Steps businesses can take to prepare for tax changes For more information, see our publication, 2025 Tax Policy Outlook: A year for action . Additionally, follow this podcast on your favorite podcast app for more episodes. About our guest: Pat Brown is PwC’s National Tax Office Co-Leader. Prior to joining PwC, he spent 16 years in the private sector, including as the director of tax policy for a Fortune 50 company. Pat has also served in the US Treasury’s Office of Tax Policy as an attorney-advisor and as Associate International Tax Counsel. About our host: Guest host 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. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Feb 4

The FASB’s new disaggregation of income statement expenses (DISE) standard requires disclosures about specific types of expenses included in the expense captions presented on the face of the income statement as well as disclosures about selling expenses. In this episode, we explore the scope, key provisions, and practical challenges of implementing the new standard. In this episode, we discuss: 2:32 – Overview of FASB’s DISE standard 5:00 – Which entities are impacted by the new requirements 7:53 – Key disclosure requirements, including tabular reporting 13:26 – Challenges in disclosing inventory-related expenses 20:07 – Use of estimates and data limitations in reporting 27:33 – Transition timeline and practical steps for implementation For more information, see our publication, FASB issues new disaggregated expense disclosure requirements (DISE) . Additionally, follow this podcast on your favorite podcast app for more episodes. About our guests: 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. Gary Sardo is a partner in PwC’s National Office who specializes in financial reporting matters that impact health industries and, more broadly, consults on a range of accounting topics, including acquisitions, divestitures, consolidation, and revenue recognition. Prior to this role, Gary completed a two-year fellowship at the FASB. About our host: Guest host 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. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jan 30

In each episode of our Year-end toolkit series, our guests share insights on key areas of the year-end accounting and reporting process. The conversations are relevant for all finance teams, even if it’s not year-end close time. And it’s relevant even for those not engaged in the company’s closing process – the episodes have something for everyone. In this bonus episode of our Year-end toolkit series, we share reminders and insights on IFRS reporting for companies that are getting ready to report in 2025. In this episode, we discuss: 2:18 – Segment disclosures 4:51 – Accounting standards newly applicable for December 31, 2024 year ends, including those related to: 5:07 – Non-current liabilities with covenants 7:25 – Supplier finance arrangements 10:22 – Sale and leaseback transactions 11:38 – Recent priorities and focus areas of European regulators that may impact US companies 20:27 – Hyperinflationary economies 23:36 – New IFRS accounting standards effective in 2025 and beyond and looking ahead to 2025 broadly Additionally, follow this podcast on your favorite podcast app for more episodes. About our guest: Gary Berchowitz is the corporate accounting topic team leader in PwC’s Global Assurance Quality - Corporate Reporting Services group. Gary brings over 20 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 leads the development of PwC’s global view on a variety of financial reporting matters. About our host: Heather Horn is the PwC National Office Sustainability and 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jan 28

In each episode of our Year-end toolkit series, our guests share insights on key areas of the year-end accounting and reporting process. The conversations are relevant for all finance teams, even if it’s not year-end close time. And it’s relevant even for those not engaged in the company’s closing process – the episodes have something for everyone. In this episode, we provide an overview of new standards effective in 2025. Our discussion will help get you up to speed as you prepare for 2025 (and don’t forget that the impact of adopting new standards may also need to be disclosed in your 2024 financial statements). In this episode, we discuss new standards related to the following topics: 2:08 – An overview of the new standards effective in 2025 3:42 – Joint venture formations 12:53 – Crypto assets 24:39 – Profits interests and similar awards 33:39 – Investments in tax credit entities Additionally, follow this podcast on your favorite podcast app for more episodes. About our guest: Jay Seliber is a partner in PwC’s National office. He leverages over 30 years of experience to help clients with their most complex accounting matters, particularly in the areas of mergers and acquisitions, revenue recognition, stock compensation, earnings per share, employee benefits, restructurings, impairments, and financing transactions. About our host: Guest host 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. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jan 23

We are revisiting a conversation on Talking ESG that was originally recorded in September at NYC Climate Week to highlight our host and guest appearing together on The Atlantic's podcast, The Most Interesting Thing In A.I. In both episodes, they examine the intersection of two trending topics: AI and sustainability, discussing the environmental impact of AI and the balance between AI's benefits and its environmental footprint. Listen in to this reissued episode in which Scott Likens, PwC Global Chief AI Engineer, and host Heather and Horn discuss: 3:17 – How AI is impacting sustainability 8:54 – Why AI and sustainability aren’t necessarily opposing forces 17:28 – Practical examples of utilizing AI to optimize energy usage 28:22 – The broader benefits of using AI to impact sustainability 31:05 – Balancing AI’s benefits with its environmental footprint 38:32 – Advice for both companies and individuals leveraging AI Also listen as Heather and Scott were guests on The Atlantic's The Most Interesting Thing In A.I. podcast hosted by Nicholas Thompson. In that episode , they expanded the dialogue on AI and its role in addressing climate concerns to further examine the balance between leveraging AI for progress and mitigating its environmental impact. Looking for more from PwC on AI? Check out PwC’s 2 024 US Responsible AI Survey and 2025 AI Business Predictions . Scott Likens is the Global and US Chief AI Engineer leading and overseeing the AI Engineering and Emerging Technology teams in the United States. With more than 30 years of emerging technology experience, he has helped clients transform their customer experience and enhance their digital operations across all aspects of their business. Heather Horn is the PwC National Office Sustainability and 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jan 21

In each episode of our Year-end toolkit series, our guests share insights on key areas of the year-end accounting and reporting process. The conversations are relevant for all finance teams, even if it’s not year-end close time. And it’s relevant even for those not engaged in the company’s closing process – the episodes have something for everyone. In this episode, we talk about the audit committee from the perspective of management. We discuss strategies for finance teams as they prepare for audit committee meetings to elevate their effectiveness, along with the top issues audit committees are focused on for 2025. In this episode, we discuss: 2:31 – Strategies for improving management communication and collaboration with audit committees 5:00 – Key issues finance teams should prepare to address with audit committees in 2025, including: 5:23 – Impacts of the presidential administration change 8:03 – Best practices for managing the board agenda 12:50 – The role of technology transformation and AI in business 17:09 – Navigating mergers and acquisitions effectively 22:40 – Strengthening risk oversight and enhancing disclosures 26:22 – Insights into core areas of audit committee oversight, including financial reporting and controls 36:33 – Trends and best practices in public company audit committee disclosures Additionally, follow this podcast on your favorite podcast app for more episodes. About our guest: Stephen Parker is a partner in PwC’s Governance Insights Center, which strives to strengthen the connection between directors, executive teams, and investors by helping them navigate the evolving governance landscape. With more than 30 years of experience, Stephen has advised boards of directors on a variety of complex financial reporting matters. Stephen’s client service experience includes energy and utility companies, financial services companies, and nonprofits. About our host: Guest host 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. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jan 16

In each episode of our Year-end toolkit series, our guests share insights on key areas of the year-end accounting and reporting process. The conversations are relevant for all finance teams, even if it’s not year-end close time. And it’s relevant even for those not engaged in the company’s closing process – the episodes have something for everyone. This episode covers the statement of cash flows - what statement of cash flow areas the SEC is focusing on, why it remains a frequent area of restatement, and the most commonly asked questions our team is seeing in practice. In this episode, we discuss: 4:11 – Key takeaways from the 2024 AICPA/SEC Conference 9:43 – Funds held on behalf of others and assessing predominance 18:48 – Non-cash transactions, constructive receipt and disbursement, and the cash flow treatment of cryptocurrency 28:50 – Gross versus net cash flows and cash flow treatment of: excise taxes, insurance recoveries, and debt restructuring 39:30 – FASB project on the statement of cash flows for financial institutions For more on the statement of cash flow presentation, see Chapter 6 – Statement of cash flows in PwC’s Financial statement presentation guide . Bret Dooley is a PwC National Office Deputy Chief Accountant 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 Suzanne Stephani is a director in PwC’s National Office specializing in the statement of cash flows, as well as the application and interpretation of the accounting guidance related to financing and leasing transactions. About our host Guest host 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. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jan 14

In each episode of our Year-end toolkit series, our guests share insights on key areas of the year-end accounting and reporting process. The conversations are relevant for all finance teams, even if it’s not year-end close time. And it’s relevant even for those not engaged in the company’s closing process – the episodes have something for everyone. In this next episode of our series, PwC’s US Assurance Quality Management leader, Michael Mullen, shares insights and key reminders on navigating materiality judgments. In this episode, we discuss: 4:51 – A refresher on the framework for assessing materiality and errors in financial statements 20:44 – Recent SEC statements and areas of focus relating to materiality and errors 31:43 – Considerations related to fraud and illegal acts 37:47 – Final advice and key takeaways in navigating materiality assessments Check out our other episodes in this miniseries: Year-end toolkit: Year in review from the corner office Year-end toolkit: Accounting and reporting reminders for 2025 Year-end toolkit: Audit reminders for preparers Year-end toolkit: Tax accounting and reporting reminders for 2025 Additionally, follow this podcast on your favorite podcast app for more episodes. Michael Mullen is PwC’s US Assurance Quality Management leader. In this role, he oversees complex client issues, providing technical insights and expertise in support of overall quality. With over 35 years of client service experience, Michael has led numerous global client engagements. 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. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jan 9

In each episode of our Year-end toolkit series, our guests share insights on key areas of the year-end accounting and reporting process. The conversations are relevant for all finance teams, even if it’s not year-end close time. And it’s relevant even for those not engaged in the company’s closing process – the episodes have something for everyone. In this next episode of our series, we discuss tax accounting and reporting reminders with Jennifer Spang, PwC’s National Office income tax accounting leader. We cover a variety of tax accounting and reporting topics, including the impact of recent election results and the associated tax impacts expected in 2025. In this episode, we discuss: 2:40 – Anticipated tax implications following the 2024 US election results 10:50 – Pillar Two 17:36 – The FASB’s disclosure standard 21:58 – Uncertain tax positions 27:56 – Inflation Reduction Act credits and valuation allowances 32:43 – Advice for year-end income tax accounting For more information about key developments at the AICPA & CIMA conference, see our publication, 2024 AICPA & CIMA Conference: Current SEC and PCAOB Developments and see our publication, Accounting for Pillar Two: Frequently asked questions for the latest on the topic. Also, check out our other episodes in this miniseries: Year-end toolkit: Audit reminders for preparers Year-end toolkit: Year in review from the corner office Year-end toolkit: Accounting and reporting reminders for 2025 And please follow this podcast on your favorite podcast app for more episodes. Jennifer Spang is PwC’s National Office income tax accounting leader, specializing in tax accounting under US GAAP and IFRS. She has over 30 years of experience helping companies in a variety of industries navigate complex tax accounting matters. Guest host 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. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jan 7

In each episode of our Year-end toolkit series, our guests share insights on key areas of the year-end accounting and reporting process. The conversations are relevant for all finance teams, even if it’s not year-end close time. And it’s relevant even for those not engaged in the company’s closing process – the episodes have something for everyone. In this next episode of our miniseries, we discuss audit-related reminders for preparers with Brian Croteau, PwC’s US Chief Auditor. In this episode we share timely insights for preparers to consider for the year-end audit, which is another important part of year-end accounting and reporting. In this episode, we discuss auditing considerations related to: 3:13 – Key takeaways from the AICPA & CIMA Conference: Current SEC and PCAOB Developments 12:06 – Accounting policies and controls 20:28 – The execution or modification of significant contracts and agreements 23:08 – Complete and accurate disclosures within the financial statements 26:48 – Independence 28:54 – Known or suspected fraud or illegal acts 34:44 – AI in financial reporting For more information about key developments at the AICPA & CIMA conference, see our publication, 2024 AICPA & CIMA Conference: Current SEC and PCAOB Developments . Also, check out our other episodes in this miniseries: Year-end toolkit: Year in review from the corner office Year-end toolkit: Accounting and reporting reminders for 2025 Additionally, follow this podcast on your favorite podcast app for more episodes. Brian Croteau is the US Chief Auditor. He oversees the establishment and maintenance of PwC’s audit policies and practices, leads efforts to directly support PwC’s audit quality objectives, and plays a key role in the monitoring and assessment of audit quality. He also leads the firm’s efforts related to its relationship with the PCAOB, including supporting all aspects of the PCAOB’s inspection process. Brian currently serves as a member of the PCAOB’s Standards and Emerging Issues Advisory Group (SEIAG) and the SEIAG’s Emerging Issues in Auditing subcommittee. Prior to rejoining PwC, he served as the Deputy Chief Accountant of the Professional Practice Group within the Office of the Chief Accountant at the SEC where he played a key role in the SEC’s oversight of the activities of the PCAOB, managed the resolution of auditor independence issues and ethical matters, and monitored audit and independence standard setting internationally. 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. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jan 2

In each episode of our Year-end toolkit series, our guests share insights on key areas of the year-end accounting and reporting process. The conversations are relevant for all finance teams, even if it’s not year-end close time. And it’s relevant even for those not engaged in the company’s closing process – the episodes have something for everyone. In this next episode of our series, we discuss accounting and reporting reminders and timely insights with some of the top technical leaders from our National Office. A one-stop shop for year end, we cover a variety of accounting and reporting topics from contract modifications to financing transactions to segments and many things in between. In this episode, we discuss accounting and reporting reminders related to: 2:03 – Natural disasters 6:04 – Highly inflationary economies 8:20 – Tax regulatory landscape 12:07 – Close calls on impairments and other accounting estimates 14:13 – Revenue 15:56 – Contract modifications 25:41 – Capital raising transactions 32:35 – Statement of cash flows 37:05 – Segment reporting 43:28 – Supplier finance obligations 44:59 – New standards and looking ahead to 2025 Check out the other episode in this miniseries, Year-end toolkit: Year in review from the corner office . 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. She has over 30 years of experience consulting with clients and engagement teams on complex accounting matters. Bret Dooley is a PwC National Office Deputy Chief Accountant 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 Pat Durbin is a PwC National Office Deputy Chief Accountant. 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. Guest host 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. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Dec 19, 2024

In each episode of our Year-end toolkit series, our guests share insights on key areas of the year-end accounting and reporting process. The conversations are relevant for all finance teams, even if it’s not year-end close time. And it’s relevant even for those not engaged in the company’s closing process – the episodes have something for everyone. To kick off the series, host Heather Horn is joined by Tim Carey, PwC National Office leader, and Kyle Moffatt, PwC National Office Professional Practice leader, to reflect on the key developments of 2024 from their perspectives and look ahead at what’s to come in 2025. In this episode, we discuss: 1:45 – External factors impacting accounting and reporting, including the presidential election and the recent AICPA/SEC conference 10:11 – Supreme Court case rulings impacting financial regulation and rulemaking from the year 15:17 – What’s on the horizon for cryptocurrency accounting and the latest on the cybersecurity disclosure rule 27:32 – Notable regulatory activity from the PCAOB, including the costs and benefits of current proposed rules 40:21 – What role the FASB plays in the current regulatory and rulemaking landscape 47:12 – SEC climate disclosure rule and other sustainability requirements 53:30 – What’s in store for 2025 Tim Carey is PwC’s National Office leader, with 30+ years of experience in complex accounting, tax, and reporting issues. Tim has led large-scale teams on a wide range of projects including financial statement audits, transaction structuring, financial due diligence, and post-merger integration. 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. Heather Horn is the PwC National Office Sustainability and 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Dec 17, 2024

This final episode of our 2024 SEC comment letter podcast miniseries discusses non-GAAP measures. Non-GAAP measures are commonly used by companies as supplements to their financial statements to deepen investors’ understanding of their performance or financial condition. Given their importance, not only does non-GAAP top the list this year, but it’s been a top focus area for the SEC staff in the last several years, and we expect that trend to continue. We discuss the issues most frequently raised by the SEC staff and offer advice to preparers for getting ahead of them. In this episode, we discuss: 3:11 – Overview of non-GAAP comment letter trends 9:09 – Insights into comments on basic compliance areas 22:24 – Individually tailored accounting principles 27:27 – Adjustments for cash operating expenses that are normal and recurring 41:17 – Controls over non-GAAP measures 46:12 – Advice and other considerations when responding to comment letters 51:38 – Potential post-election impacts on the SEC For more information, see our full analysis of SEC comment letter trends and our publication Earnings with a twist: 2024 update on SEC non-GAAP comment trends . Also, check out our other episodes in this miniseries. Kevin Vaughn is a PwC National Office partner specializing in SEC reporting matters. Kevin leverages his extensive experience to support PwC public company and pre-IPO clients on accounting and SEC reporting matters. Prior to joining PwC in 2023, Kevin spent over 18 years at the SEC, most recently serving on the leadership team in the SEC’s Office of the Chief Accountant where he focused on technical accounting consultations, SEC rulemakings, and standard setting matters. Lindsay McCord is a PwC National Office partner specializing in matters related to the SEC and the capital markets. Prior to joining PwC, Lindsay spent over 15 years at the SEC, most recently as the Chief Accountant in the Division of Corporation Finance. In this role, Lindsay led an accounting team in providing technical accounting and reporting support to the Division, including SEC rulemaking, interpretation, and guidance. 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. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Dec 12, 2024

PwC recently released the results of our 2024 Global Investor Survey , which was conducted to better understand investor expectations and concerns about corporate reporting and the evolving business landscape. The annual survey results highlight the importance of transparency in technology use, especially Artificial Intelligence (AI), and the need for companies to adapt to global threats, climate change, and regulatory developments. This week, host Heather Horn is joined by Nadja Picard, PwC Global Reporting Leader, to break down the results and discuss the sometimes differing expectations between companies and investors. They also address how companies can better meet investor expectations through both action and communication. In this episode, we discuss: 01:31 – Purpose of the 2024 global investor survey and demographics of survey participants 05:11 – Highlights from the global investor survey, including what surprised our Global Reporting Leader most 10:19 – Expectations to continue investing in AI, while upskilling the workforce 14:09 – How investors are thinking about climate adaptation and transition 19:41 – How investors evaluate trust and communication year over year 25:15 – Cybersecurity ranks number one threat 33:28 – Executing well and communicating well to address investor concerns 36:29 – Advice for companies navigating a challenging reporting landscape Looking for the latest developments in sustainability reporting? Follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to stay in the loop 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 and 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Dec 10, 2024

This next episode of our 2024 SEC comment letter podcast miniseries discusses Foreign Private Issuers (FPIs). Many of the considerations we talk about for other SEC filers also apply to FPIs; however, there can be some differences and added complexities. We discuss the issues most frequently raised by the SEC staff, including those unique to FPIs, and offer advice to preparers for getting ahead of them. In this episode, we discuss: 7:24 – Comment letter trends specific to FPIs, including those related to: 8:55 – Non-GAAP performance measures 16:15 – Segment reporting 21:32 – Revenue 25:01 – Management’s Discussion and Analysis 30:29 – Financial instruments 41:39 – FPI status re-assessment 44:53 – IFRS segment reporting considerations 47:45 – Other accounting and reporting reminders related to FPIs For more information, see our full analysis of SEC comment letter trends . Also, check out our other episodes in this miniseries: SEC comment letters – What’s trending in 2024 2024 SEC comment letter trends: Revenue 2024 SEC comment letter trends: Business combinations 2024 SEC comment letter trends: Segment reporting 2024 SEC comment letter trends: MD&A Additionally, follow this podcast on your favorite podcast app for more episodes. Patrick Higgins is a Deputy Chief Accountant in PwC’s National Office responsible for our SEC foreign private issuer and IFRS teams. Patrick has also served as a global signing partner in a variety of countries and industries. Kevin Vaughn is a PwC National Office partner specializing in SEC reporting matters. Kevin leverages his extensive experience to support PwC public company and pre-IPO clients on accounting and SEC reporting matters. Prior to joining PwC in 2023, Kevin spent over 18 years at the SEC, most recently serving on the leadership team in the SEC’s Office of the Chief Accountant where he focused on technical accounting consultations, SEC rulemakings, and standard setting matters. 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. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Dec 5, 2024

In the sixth episode of our GHG miniseries on the building blocks of greenhouse gas (GHG) emissions reporting, we conclude our discussion on step 4: measure greenhouse gas emissions with scope 3 emissions. Host Heather Horn is joined again by Marcin Olewinski, an Assurance partner, and Chris Ostermann, a director in PwC’s Sustainability Services Group, to provide an introduction to scope 3 emissions, including an overview of their 15 categories downstream and upstream as well as the complexities in measuring these emissions. They share practical advice for measuring these emissions, which often yield more challenges than scope 1 and scope 2. In this episode, we discuss: 01:54 – Scope 3 emissions and their related upstream and downstream categories 10:49 – Double counting scope 3 emissions and its impact on greenhouse gas emissions reporting 15: 33 – The measurement requirements of scope 3 emissions, including ESRS and ISSB frameworks 25:01 – Where to start when gathering data for key assumptions in the measurement of scope 3 emissions 35:09 – Time boundaries for applicable scope 3 categories 38:53 – Deciding where to prioritize efforts on scope 3 measurement For more information on GHG emissions reporting, including scope 3 emissions discussed in today’s episode, check out Chapter 7: Greenhouse gas emissions reporting in PwC’s global Sustainability reporting guide. And to catch up on the GHG miniseries, listen to the first four episodes below. Talking GHG: Reporting requirements for greenhouse gas emissions Talking GHG: How organizational boundaries shape reporting Talking GHG: Determining operational boundaries Talking GHG: Practical insights on measuring scope 1 emissions Talking GHG: Practical insights on measuring scope 2 emissions Marcin Olewinksi is a PwC Assurance practice partner , with over 20 years of experience bringing valued perspectives and insights to large clients in the energy sector. Additionally, he’s focused extensively within PwC’s National Office on greenhouse gas emissions and sustainability reporting and leads PwC’s global technical working group focused on GHG. Chris Ostermann is a director in PwC’s Sustainability Services Group working on sustainability and ESG matters with companies across multiple sectors. He focuses on helping clients understand their most significant sustainability/ESG impacts, develop strategies to address those impacts, execute those strategies and communicate progress to investors and other stakeholders. Heather Horn Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Dec 3, 2024

This next episode of our 2024 SEC comment letter podcast miniseries discusses Management’s Discussion and Analysis (MD&A). Investors are often focused on MD&A as they look to understand management’s commentary on the results of the business, future trends, uncertainties, and more – making this an area that also frequently gets the attention of the SEC staff. We discuss the issues most frequently raised by the SEC staff and offer advice to preparers for getting ahead of them. In this episode, we discuss: 2:21 – An overview of SEC comment letter trends related to MD&A 10:57 – The results of operations 20:43 – Liquidity and capital resources 27:19 – Critical accounting estimates 35:16 – Final reminders and best practices related to MD&A For more information, see our full analysis of SEC comment letter trends . Also, check out our other episodes in this miniseries: SEC comment letters – What’s trending in 2024 2024 SEC comment letter trends: Revenue 2024 SEC comment letter trends: Business combinations 2024 SEC comment letter trends: Segment reporting Additionally, follow this podcast on your favorite podcast app for more episodes. Ryan Spencer is a partner at PwC's National Office specializing in SEC financial reporting. He has over 20 years of experience serving clients and is a frequent contributor to PwC’s publications and communications. Scott Feely is a partner in PwC’s National office. He has over 30 years of experience supporting clients as they address the SEC and financial reporting implications of their capital markets and merger and acquisition-related activities. 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. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Nov 26, 2024

This next episode of our 2024 SEC comment letter podcast miniseries discusses segment reporting. Segment reporting is an important disclosure for investors as it provides information about the different types of business activities in which a reporting entity engages and the different economic environments in which it operates – making this an area that frequently gets the attention of the SEC staff. We discuss the issues most frequently raised by the SEC staff and offer advice to preparers for getting ahead of them. In this episode, we discuss: 2:36 – An overview of SEC comment letter trends related to segment reporting 11:49 – Identifying operating segments 15:13 – Aggregation of operating segments 16:36 – Entity-wide segment disclosures 19:18 – Multiple measures of segment profit or loss 20:55 – Reconciliations to segment profit or loss 23:18 – Considerations when adopting the FASB’s new segment reporting guidance 35:21 – Final reminders related to segment reporting For more information, see our full analysis of SEC comment letter trends and Chapter 25 of our Financial statement presentation guide. Also, check out our other episodes in this miniseries: SEC comment letters – What’s trending in 2024 2024 SEC comment letter trends: Revenue 2024 SEC comment letter trends: Business combinations Additionally, follow this podcast on your favorite podcast app for more episodes. Scott Feely is a partner in PwC’s National office. He has over 30 years of experience supporting clients as they address the SEC and financial reporting implications of their capital markets and merger and acquisition-related activities. Jay Seliber is a partner in PwC’s National office. He leverages over 30 years of experience to help clients with their most complex accounting matters, particularly in the areas of mergers and acquisitions, revenue recognition, stock compensation, earnings per share, employee benefits, restructurings, impairments, and financing transactions. 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. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Nov 22, 2024

In our fifth episode of our miniseries on the building blocks of greenhouse gas (GHG) emissions reporting, we discuss step 4: measure greenhouse gas emissions, continuing with scope 2 emissions. Host Heather Horn is joined again by Marcin Olewinski, an Assurance partner, and Chris Ostermann, a director in PwC’s Sustainability Services Group, to kick off the second of three episodes focused on measuring greenhouse gases. They will share more of what they’re seeing in practice working with companies who are calculating these emissions, a must listen given the complexity of the challenges can grow moving from scope 1 to scope 2 emissions. In this episode, they discuss: 02:05 – Scope 2 emissions — how they are different from scope 1 emissions and the formula for calculating them 06:39 – Location-based and market-based methods for calculating scope 2 emissions 16:02 – Bundled and unbundled instruments and their related challenges 19:59 – Importance of selecting appropriate emission factors 27:39 – Reporting scope 2 emissions, including selecting the right calculation method to report For more information on GHG emissions reporting, including scope 2 emissions discussed in today’s episode, check out Chapter 7: Greenhouse gas emissions reporting in PwC’s global Sustainability reporting guide. And to catch up on the GHG miniseries, listen to the first four episodes below. Talking GHG: Reporting requirements for greenhouse gas emissions Talking GHG: How organizational boundaries shape reporting Talking GHG: Determining operational boundaries Talking GHG: Practical insights on measuring scope 1 emissions Marcin Olewinksi is a PwC Assurance practice partner, with over 20 years of experience bringing valued perspectives and insights to large clients in the energy sector. Additionally, he’s focused extensively within PwC’s National Office on greenhouse gas emissions and sustainability reporting and leads PwC’s global technical working group focused on GHG. Chris Ostermann is a director in PwC’s Sustainability Services Group working on sustainability and ESG matters with companies across multiple sectors. He focuses on helping clients understand their most significant sustainability/ESG impacts, develop strategies to address those impacts, execute those strategies and communicate progress to investors and other stakeholders. Heather Horn is the PwC National Office Sustainability and Thought Leader, responsible for developing our communications strategy and conveying firm positions on accounting, financial reporting, and sustainability matters. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Nov 19, 2024

This next episode of our 2024 SEC comment letter podcast miniseries discusses business combinations. Business combination accounting can be complex, the required disclosures are comprehensive, and these are not routine transactions for most companies – all making this a challenging area that frequently gets the attention of the SEC staff. We discuss the issues most frequently raised by the SEC staff and offer advice to preparers for getting ahead of them. In this episode, we discuss: 2:02 – An overview of SEC comment letter trends related to business combinations 5:14 – Determining whether a transaction is an asset acquisition or business combination 7:34 – The definition of a “business” in US GAAP as compared to SEC rules 9:23 – Comments related to omitted disclosures 12:39 – Pro forma disclosures and financial statements of acquired or to-be-acquired businesses 25:45 – Other reminders and areas of focus related to business combinations For more information, see our full analysis of SEC comment letter trends , our Business combinations guide, and Chapter 17 of our Financial statement presentation guide. Also, check out our other episodes in this miniseries: SEC comment letters – What’s trending in 2024 2024 SEC comment letter trends: Revenue 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. Kevin Vaughn is a PwC National Office partner specializing in SEC reporting matters. Kevin leverages his extensive experience to support PwC public company and pre-IPO clients on accounting and SEC reporting matters. Prior to joining PwC in 2023, Kevin spent over 18 years at the SEC, most recently serving on the leadership team in the SEC’s Office of the Chief Accountant where he focused on technical accounting consultations, SEC rulemakings, and standard setting matters. 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. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Nov 14, 2024

In the fourth episode of our miniseries on the building blocks of greenhouse gas (GHG) emissions reporting, we discuss step 4: measure greenhouse gas emissions, starting with scope 1 emissions. Host Heather Horn and frequent ESG podcast guest Marcin Olewinski, an Assurance partner, are joined by Chris Ostermann, a director in PwC’s Sustainability Services Group, to kick off the first of three episodes focused on measuring greenhouse gases. They will share what they’re seeing in practice working with companies who are calculating these emissions, including successes and (preventable) misapplications. In this episode, they discuss: 02:24 – Scope 1 GHG emissions, including identifying sources and a complete inventory 07:05 – Methods for measuring scope 1 emissions and how to select a measurement approach 16:56 – Challenges associated with collecting data inputs 22:53 – Explaining emissions factors and the challenges in selecting emissions factors for the emissions calculation 33:17 – Global warming potentials and their impact on the calculation of scope 1 emissions 41:33 – Practical advice from working with clients For more information on GHG emissions reporting, including scope 1 emissions discussed in today’s episode, check out Chapter 7: Greenhouse gas emissions reporting in PwC’s global Sustainability reporting guide. And to catch up on the GHG miniseries, listen to the first three episodes below. Talking GHG: Reporting requirements for greenhouse gas emissions Talking GHG: How organizational boundaries shape reporting Talking GHG: Determining operational boundaries Marcin Olewinksi is a PwC Assurance practice partner, with over 20 years of experience bringing valued perspectives and insights to large clients in the energy sector. Additionally, he’s focused extensively within PwC’s National Office on greenhouse gas emissions and sustainability reporting and leads PwC’s global technical working group focused on GHG. Chris Ostermann is a director in PwC’s Sustainability Services Group working on sustainability and ESG matters with companies across multiple sectors. He focuses on helping clients understand their most significant sustainability/ESG impacts, develop strategies to address those impacts, execute those strategies and communicate progress to investors and other stakeholders. Heather Horn is the PwC National Office Sustainability and 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. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Nov 12, 2024

In this next episode of our 2024 SEC comment letter miniseries, we discuss accounting for revenue. Revenue is the top line for a reason; it’s closely watched by investors and therefore, the SEC staff as well. From variable consideration to disaggregated revenue disclosure, we discuss the issues most frequently raised by the SEC staff and offer advice to preparers for getting ahead of them. In this episode, we discuss: 2:25 – An overview of SEC comment letter trends related to revenue 12:20 – Significant judgements and estimates in determining the transaction price 23:57 – Timing or pattern of the transfer of control 28:10 – Disaggregated revenue disclosures 40:45 – Other reminders and areas of focus related to revenue 44:22 – Industry-specific considerations For more information, see our full analysis of SEC comment letter trends , our Revenue from contracts with customers guide, and Chapter 33 of our Financial statement presentation guide. Also, check out our other episode in this miniseries, SEC comment letters – What’s trending in 2024 . 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. 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. 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. Follow this podcast on your favorite podcast app for more episodes. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Nov 7, 2024

In the third episode of our miniseries on the building blocks of greenhouse gas (GHG) emissions reporting, we discuss step 3: determine operational boundaries. Host Heather Horn is joined again by Marcin Olewinski, an Assurance partner, and Kelsey Pizza, a senior manager in PwC’s National Office, who illustrate the importance of correctly identifying operational boundaries and the impact on the accuracy of GHG reporting. They also discuss how it’s a critical step to helping organizations clearly define and understand the scope of their emissions. Because different frameworks may prescribe different approaches while others provide some flexibility, it is key to understand your reporting requirements (as discussed in the first episode in this miniseries, Talking GHG: Reporting requirements for greenhouse gas emissions ). We’ll highlight different approaches and the impacts (sometimes more significant than one would expect) that an organizational boundary may have on reporting. In this episode, they discuss: 2:34 – What operational boundaries are and how they interact with organizational boundaries 4:37 - Overview of scope 1, scope 2, and scope 3 emissions and classification 10:44 – How and why operational boundaries are determined 18:13 - Challenges in classifying emissions from leased assets and the impact of different sustainability frameworks 34:19 – Practical advice for determining operational boundaries For more information on GHG emissions reporting, including the scope 2 emissions discussed in today’s episode, check out Chapter 7: Greenhouse gas emissions reporting in PwC’s global Sustainability reporting guide. And to catch up on the GHG miniseries, listen to the first two episodes below. Talking GHG: Reporting requirements for greenhouse gas emissions Talking GHG: How organizational boundaries shape reporting Marcin Olewinski is a PwC Assurance practice partner, with over 20 years of experience bringing valued perspectives and insights to large clients in the energy sector. Additionally, he’s focused extensively within PwC’s National Office on greenhouse gas emissions and sustainability reporting and leads PwC’s global technical working group focused on GHG. Kelsey Pizza is a senior manager in PwC’s National Office. She provides advice on technical accounting issues and monitors developments in financial reporting and standard setting. Kelsey helps develop PwC thought leadership, with a particular focus on sustainability reporting, clean and renewable energy accounting matters, and other topics affecting the utilities and sustainable energy sector. Heather Horn Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Nov 5, 2024

We are kicking off our miniseries on 2024 SEC staff comment letters, helping to inform you on the latest trends as you gear up for year end. In this episode we share an overview of the 2024 comment letter trends, as well as insights into the SEC staff’s key priorities. In this episode, we discuss: 1:56 – An overview of the SEC comment letter process 14:19 – 2024 SEC comment letter themes 15:31 – Key SEC staff focus areas related to management’s discussion and analysis 18:59 – Key SEC staff focus areas related to non-GAAP measures 21:37 – Other reminders and areas that preparers should focus on moving into year end For more information, see our full analysis of SEC comment letter trends . Additionally, follow this podcast on your favorite podcast app for more episodes. 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. Heather Horn is the PwC National Office Sustainability and 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Oct 31, 2024

This week, host Heather Horn is joined by a chief sustainability officer (CSO), whose impressive background in paleoclimate geology has propelled her into the world of sustainability. Allyson Anderson Book from Baker Hughes provides a practical perspective on her sustainability journey as a CSO. She shares the challenges overcome and perseverance needed in getting to the accomplishments – decarbonization and good reporting on the company’s efforts. In this episode, they discuss: 6:23 – A CSO’s view on the role of reporting 11:51 – Background on the company and how it is thinking about its emissions profile and its customers’ 24:55 – The importance of prioritizing data fidelity and management 29:56 – What to think about when accounting for emissions 33:31 – The pros and cons of absolute versus intensity measurement of emissions 46:02 – Expected results when stakeholders are involved in sustainability efforts 50:07 – Advice on navigating your company’s own sustainability journey from a CSO Enjoy hearing from Allyson in today’s episode? Tune in to PwC’s Quarterly sustainability webcast on Thursday, November 7 or Wednesday, November 13 when she will discuss energy transition. Register here . Allyson Anderson Book is the Chief Sustainability Officer at Baker Hughes, an energy technology company that provides solutions for energy and industrial customers worldwide. Before joining Baker Hughes, Allyson served as the executive director of the American Geosciences Institute, and she has held several academic, policy, and senior government positions. Heather Horn is the PwC National Office Sustainability and 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Oct 29, 2024

We wrap up our miniseries on loans and investments with a discussion of the accounting for equity interests, a topic that can impact companies across all industries. In this episode, we discuss: 2:02 – Equity interests in scope of ASC 321, Investments—Equity Securities 13:19 – Determining whether an equity interest has a readily determinable fair value 15:10 – An overview of the “measurement alternative,” including: 22:27 – Impairment of equity interests 25:31 – Identifying observable transactions For more information, see chapter 2 of our Loans and investments guide. Also, check out our other episodes in this miniseries: Applying the CECL model to financial asset credit losses Accounting for debt securities held by corporates Accounting for loan receivables by corporates Additionally, follow this podcast on your favorite podcast app for more episodes. Chip Currie is a partner in PwC’s National Office with nearly 30 years of experience assisting companies in resolving complex business and accounting issues. He concentrates on the accounting for financial instruments under both current and emerging standards and works with many of the firm's largest financial services clients and a number of non-financial services clients on treasury-related matters. Christopher Gerdau is a partner in PwC’s National Office specializing in accounting for financial instruments and banking-related topics. Chris also conducts technical reviews of SEC filings and provides technical support to PwC’s practice offices. Chris’s client service expertise includes the banking, capital markets, and insurance industries. Heather Horn is the PwC National Office Sustainability and 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Oct 24, 2024

At the intersection of two trending topics, AI and sustainability, there are a myriad of both costs and benefits to consider. Host Heather Horn is joined by Scott Likens, PwC Global Chief AI Engineer, to discuss the environmental impact of AI and the balance between AI's benefits and its environmental footprint. In this episode, they discuss: 3:17 – How AI is impacting sustainability 8:54 – Why AI and sustainability aren’t necessarily opposing forces 17:28 – Practical examples of utilizing AI to optimize energy usage 28:22 – The broader benefits of using AI to impact sustainability 31:05 – Balancing AI’s benefits with its environmental footprint 38:32 – Advice for both companies and individuals leveraging AI Looking for more on AI? Check out PwC’s Artificial Intelligence services as well as resources on responsible AI, including What is responsible AI and how can it help harness trusted generative AI? Scott Likens is the Global and US Chief AI Engineer leading and overseeing the AI Engineering and Emerging Technology teams in the United States. With more than 30 years of emerging technology experience, he has helped clients transform their customer experience and enhance their digital operations across all aspects of their business. Heather Horn is the PwC National Office Sustainability and 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Oct 22, 2024

We continue our miniseries on loans and investments with a discussion of the current expected credit losses (CECL) impairment model, applicable to a broad range of financial assets. In this episode, we discuss: 3:42 – A refresher on the CECL model 8:02 – Impact of the current economic environment on credit losses 23:43 – Monitoring and governance of credit losses 26:46 – SEC comment letters and other activity related to CECL 30:49 – FASB developments related to CECL, including purchased financial assets For more information, see chapter 7 of our Loans and investments guide. Also, check out our other episodes in this miniseries, Accounting for debt securities held by corporates and Accounting for loan receivables by corporates . Additionally, follow this podcast on your favorite podcast app for more episodes. Catherine Espino is a partner in PwC’s National Office with 20 years of experience serving large financial institutions, broker-dealers, as well as smaller subsidiaries and private companies. Catherine focuses on advising companies within the financial services and non-financial services sectors on significant and complex accounting issues. 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. Heather Horn is the PwC National Office Sustainability and 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Oct 17, 2024

The term “ESG” has been used for over two decades, including in this podcast miniseries title. Host Heather Horn sat down with guest Matt Sekol, Sustainability Global Blackbeltand author of ESG Mindset: Business Resilience and Sustainable Growth , to revisit the complexities of ESG and how companies can rethink the concept to not only build better resilience for the long term, but also find value in reporting. In this episode, they discuss: 3:42 – The key messages of ESG Mindset and redefining “ESG” 9:44 – How sustainability reporting can contribute to change 12:26 – What leaders can do to leverage ESG in a material way 20:06 – How companies can strike a balance between ESG and the success of the business 35:19 – The interconnectedness of ESG and the macroeconomic environment 45:12 – Key takeaway for addressing systemic ESG issues Looking for the latest developments in sustainability reporting? Follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to stay in the loop for the latest thought leadership on sustainability standards. Matthew Sekol is a Sustainability Global Black Belt on Microsoft’s Cross-Industry team and a Senior Advisor for Enzo Advisors. In 2024, Matthew released a book called ESG Mindset , which is a guide for companies to think critically about ESG and take a holistic approach to the business. He serves on the LP Advisory Committee of Morgan Stanley’s Next Level Fund, which invests in diverse-led and founded startups. Matthew is considered a benevolent troublemaker who guides companies and partners to think through and address their most material issues on their path to impact. Heather Horn is the PwC National Office Sustainability and 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Oct 15, 2024

We continue our miniseries on loans and investments with a discussion of the accounting by corporate entities for loan receivables, which can include items such as trade receivables and other receivables with customers, suppliers, employees and more. In this episode, we discuss: 1:43 – The definition of a loan and types of loan arrangements 3:18 – Recognition and measurement of loans 7:40 – Classification and accounting for loans held for sale or held for investment 18:54 – Recording interest income on loans 23:29 – An overview of loan impairments For more information, see chapter 4 of our Loans and investments guide. Also, check out our other episode in this miniseries, Accounting for debt securities held by corporates . Additionally, follow this podcast on your favorite podcast app for more episodes. Chip Currie is a partner in PwC’s National Office with nearly 30 years of experience assisting companies in resolving complex business and accounting issues. He concentrates on the accounting for financial instruments under both current and emerging standards and works with many of the firm's largest financial services clients and a number of non-financial services clients on treasury-related matters. Catherine Espino is a partner in PwC’s National Office with 20 years of experience serving large financial institutions, broker-dealers, as well as smaller subsidiaries and private companies. Catherine focuses on advising companies within the financial services and non-financial services sectors on significant and complex accounting issues. Heather Horn is the PwC National Office Sustainability and 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Oct 10, 2024

Impact accounting is the process of attributing monetary value to disparate pools of datapoints across sustainability topics with the intent of creating comparability to drive investment decisions. This week, host Heather Horn is joined by a special guest from the International Foundations of Valuing Impacts (IFVI), CEO and President, Rob Zochowski, to discuss the relatively new concept of impact accounting and how it can complement existing sustainability reporting for business decision-making. In this episode, they discuss: 3:24 – Background on impact accounting and IFVI 8:10 – The concept of impact valuation and its role in assigning monetary value to sustainability metrics 15:18 – Getting global feedback on impact accounting 24:12 – How impact accounting both measures and values corporate impacts to drive better decision-making 29:48 – Leveraging impact accounting for both reporting and decision-making 38:02 – Challenges in assigning monetary value to diverse impacts For more information on impacting accounting, see PwC’s Impact management for sustainable business strategy . Further, as referenced in the episode, more information on European Union regulations can be found in PwC’s publication, European Union regulations beyond CSRD . And visit IFVI’s website on Tuesday, October 15 for the release of its impact accounting methodologies. T. Robert Zochowski is the President and CEO of IFVI since its founding. Formerly, he was the Program Director Impact Investing and Sustainability Special Projects including the Impact Weighted Accounts Project. Rob was a Vice President at Goldman Sachs. Rob received his MBA from Columbia Business School in the Executive Program where he concentrated on Social Enterprise and Impact Investing, graduating Dean’s Honors with Distinction. He was featured in Poets and Quants annual 100 Best & Brightest Executive MBAs list and received the Carson Family Changemaker Award. Heather Horn is the PwC National Office Sustainability and 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Oct 8, 2024

We kick off our miniseries on loans and investments with an episode on accounting for debt securities for corporate entities. We discuss key considerations applicable to corporates and share insights on some of the more complex areas. In this episode, we discuss: 5:31 – Identifying the applicable accounting guidance 13:24 – Instruments that qualify as cash equivalents 22:07 – Classification of debt securities and the accounting implications 31:36 – Valuation of debt securities 36:33 – Financial statement presentation considerations For more information, see chapter 3 of our Loans and investments 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. Christopher Gerdau is a partner in PwC’s National Office specializing in accounting for financial instruments and banking-related topics. Chris also conducts technical reviews of SEC filings and provides technical support to PwC’s practice offices. Chris’s client service expertise includes the banking, capital markets, and insurance industries. Heather Horn is the PwC National Office Sustainability and 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Oct 3, 2024

Host Heather Horn is joined by Mardi McBrien, Chief of Strategic Affairs & Capacity Building at the IFRS Foundation, and Katharina Bryan, Head of International Sustainability Reporting Policy at Amazon, to highlight the PwC and IFRS Foundation NYC Climate Week event: Sustainability disclosure in practice . Together they break down the event and share highlights, practical perspectives, and takeaways for preparers on their own sustainability reporting journeys. In this episode, they discuss: 5:03 – What resonated most from the insightful discussions across multiple stakeholder perspectives 7:58 – Preparer perspective on approaching regulatory reporting deadlines 10:13 – Benefits of the collaboration between the IFRS Foundation and CDP 16:05 – How sustainability reporting can drive positive change 27:45 – Advice for companies overwhelmed by the abundance of sustainability reporting requirements 31:47 – Where to find resources for developing skills to address sustainability reporting challenges Summary of the event Heather Horn interviewed Emmanuel Faber, chair of the International Sustainability Standards Board, on all that it has accomplished in the last year in making its standards a true global passport – and of course the work yet to be done. (See video of that interview.) Emmanuel and Heather were joined by Sherry Madera, CEO at CDP, to highlight the impact of their collaboration. Diana Stoltzfus, PwC National office sustainability partner, moderated an investor discussion with Carine Smith Ihenacho, Chief Governance and Compliance Officer at Norges Bank Investment Management, and Richard Manley, Chief Sustainability Officer from CPP Investments, who both provided a unique perspective on what investors value in sustainability reporting as well as how it helps corporate directors. Mardi McBrien spoke with Katharina Bryan and others to get their “boots on the ground” preparer perspective. Mardi provided an update on capacity building, sharing the latest on the IFRS Foundation’s efforts to develop skills and resources to address sustainability reporting challenges. Looking for more about the IFRS Foundation? Tune into the IFRS Foundation’s upcoming Webcast: Perspectives on sustainability disclosure, check out the recently released voluntary application guide, Voluntarily applying ISSB standards – a guide for preparers , or visit the IFRS Sustainability knowledge hub . Also, as referenced in the podcast, for more on capacity building, visit the Global Capacity Building Coalition’s recently launched website . Mardi McBrien is the Chief of Strategic Affairs and Capacity Building at the IFRS Foundation responsible for sustainability reporting. Katharina Bryan is Head of International Sustainability Reporting Policy at Amazon. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Sep 26, 2024

In the second episode of our miniseries on the building blocks of greenhouse gas (GHG) emissions reporting, we discuss how to establish organizational boundaries. Host Heather Horn is joined again by Marcin Olewinski, an Assurance partner, and Kelsey Pizza, a senior manager in PwC’s National Office, who illustrate the importance of including the correct entities, assets, and operations through real world examples. Different frameworks may prescribe different approaches while others provide some flexibility so it is key to understand your reporting requirements (as discussed in the first episode in this miniseries, Talking GHG: Reporting requirements for greenhouse gas emissions ). We’ll highlight different approaches and the impacts (sometimes more significant than one would expect) that an organizational boundary can have on reporting. This episode discusses: 2:48 – What it means to establish organizational boundaries 4:33 – The three organizational boundary approaches outlined by the GHG Protocol 13:48 – Practical examples of organizational boundary scenarios 34:23 – Factors to consider when applying an organizational boundary approach 37:23 – When to change organizational boundary approaches 39:38 – Advice for companies in process of establishing organizational boundaries For more information on GHG emissions reporting, including the five-step process outlined in today’s episode, check out Chapter 7: Greenhouse gas emissions reporting in PwC’s global Sustainability reporting guide. Marcin Olewinski is a PwC Assurance practice partner, with over 20 years of experience bringing valued perspectives and insights to large clients in the energy sector. Additionally, he’s focused extensively within PwC’s National Office on greenhouse gas emissions and sustainability reporting and leads PwC’s global technical working group focused on GHG. Kelsey Pizza is a senior manager in PwC’s National Office. She provides advice on technical accounting issues and monitors developments in financial reporting and standard setting. Kelsey helps develop PwC thought leadership, with a particular focus on sustainability reporting, clean and renewable energy accounting matters, and other topics affecting the utilities & sustainable energy sector. Heather Horn is the PwC National Office Sustainability and 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. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Sep 24, 2024

We continue our miniseries on foreign currency accounting with an episode on foreign currency remeasurement and translation. Foreign currency measurement is the process by which an entity expresses transactions whose terms are denominated in a foreign currency in its functional currency. Foreign currency translation is the process of expressing a foreign entity’s functional currency financial statements in the reporting currency. In this episode, we discuss: 03:09 – An overview of the accounting for foreign currency remeasurement and translation 05:56 – Measurement of foreign currency transactions 09:56 – Exchange rate considerations 22:26 – Translating financial statement of foreign entities 29:00 – Releasing cumulative translation adjustments (CTA) For more information see chapters 4 and 5 of our Foreign currency guide. Also, check out our other episode in this miniseries, Foreign currency accounting – Determining functional currency . Additionally, follow this podcast on your favorite podcast app for more episodes. 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. Ross Drucker is a partner in PwC’s National Office where he assists clients with financial instrument accounting, including derivatives and hedging transactions, foreign currency, and structured capital markets transactions. He recently returned to PwC following two years working at the SEC in the Office of the Chief Accountant, focusing on financial instrument transactions as well as cryptocurrency. Heather Horn is the PwC National Office Sustainability and 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Sep 19, 2024

This week we introduce a miniseries on the building blocks of greenhouse gas (GHG) emissions reporting. To kick off the miniseries, host Heather Horn is joined by Marcin Olewinski, an Assurance partner, and Kelsey Pizza, a senior manager in PwC’s National Office, to give an overview of the process and zero in on the first step, understanding reporting requirements. They highlight the GHG Protocol's foundational role and its similarities and differences with other standards. In this episode, they discuss: 02:22 – Background on the building blocks of GHG emissions reporting 04:30 – The history of the GHG Protocol and how it’s used today 19:16 – How the GHG Protocol interacts with other frameworks, including the European Sustainability Reporting Standards and IFRS® Sustainability Disclosure Standards 31:08 – Advice for companies for understanding GHG reporting requirements and interoperability For more information on GHG emissions reporting, including the five-step process outlined in today’s episode, check out Chapter 7: Greenhouse gas emissions reporting in PwC’s global Sustainability reporting guide . Marcin Olewinski is a PwC Assurance practice partner, with over 20 years of experience bringing valued perspectives and insights to large clients in the energy sector. Additionally, he’s focused extensively within PwC’s National Office on greenhouse gas emissions and sustainability reporting and leads PwC’s global technical working group focused on GHG. Kelsey Pizza is a senior manager in PwC’s National Office. She provides advice on technical accounting issues and monitors developments in financial reporting and standard setting. Kelsey helps develop PwC thought leadership, with a particular focus on sustainability reporting, clean and renewable energy accounting matters, and other topics affecting the utilities & sustainable energy sector. Heather Horn is the PwC National Office Sustainability and 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Sep 17, 2024

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. In this episode, we discuss: 03:52 – Identifying distinct and separable operations 19:01 – Determining functional currency 25:45 – Common pitfalls in evaluating functional currency 37:37 – Changes in functional currency 40:19 – Highly inflationary economies 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Sep 10, 2024

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. In this episode, we discuss: 3:12 – Measurement of liability-classified awards 5:59 – Secondary market transactions 16:39 – Profit sharing arrangements 22:44 – Equity restructurings 31:25 – Recourse and nonrecourse loans 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Sep 3, 2024

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. In this episode, we discuss: 2:40 – How to determine whether a change in terms or conditions should be accounted for as a modification 5:00 – The stock-based compensation modification framework 8:29 – Four types of modifications related to vesting conditions 18:39 – Modifications that change classification 22:15 – Modifications of performance conditions 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Aug 27, 2024

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. In this episode, we discuss: 3:24 – The scope of internal-use software 10:29 – The three stages of software development 14:07 – Cloud computing arrangements 17:50 – Practical challenges in applying this model 25:05 – An overview and update on the FASB's current software costs project 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Aug 20, 2024

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. In this episode, we discuss: 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 established 19:55 – The types of costs capitalized under the model for externally marketed software 22:40 – Practical challenges in applying the externally marketed software model 27:55 – Applying the guidance to Artificial Intelligence (AI) 31:10 – An update on the FASB’s software costs project 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Aug 6, 2024

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. In this episode, we discuss: 2:10 – Potential impacts of a change in presidential administration 5:40 – The SEC's rulemaking agenda 7:28 – Recent court actions impacting the SEC 21:10 – Non-GAAP measures 29:00 – Cybersecurity 37:24 – Artificial intelligence 41:33 – Other SEC focus areas 46:36 – 90 years of history at the SEC 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Aug 1, 2024

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. In this episode, they discuss: 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 IRA 10:57 – Additional IRS guidance on domestic content requirements 13:56 – The latest developments on Section 48C credits 19:00 – Changes to expect after Election Day 31:25 – Impact of the US Supreme Court overturning the Chevron doctrine 37:55 – Advice for companies navigating changes in the IRA Looking for more on renewable energy credits? Talking ESG: Taking advantage of Inflation Reduction Act incentives In depth: Accounting for Inflation Reduction Act energy incentives Obligations, next steps from clean electricity guidance Applications open for $6 billion in energy credits Certainty, relief in new energy credit rules For more information on the US Supreme Court overruling the Chevron doctrine: Potential tax implications of the US Supreme Court overruling the Chevron doctrine Matt 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jul 30, 2024

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. In this episode, we discuss: 4:55 – Criteria to meet the definition of a “collaborative arrangement” 16:20 – An overview of the collaborative arrangement accounting model 20:27 – Application of an accounting policy for recognition and presentation 25:04 – Timing of recognition, presentation, and disclosure 32:42 – Other areas of GAAP that may apply to the arrangement 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jul 25, 2024

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. In this episode, they discuss: 4:15 – Insights from the adoption of ISSB standards around the world 9:20 – Variability of sustainability reporting and interoperability guidance 19:08 – Challenges reporting under multiple frameworks and ISSB partnerships to address them 25:31 – Responsibilities to report under other frameworks, such as California SB 261 (based on TCFD) 29:41 – Working to address investor needs and concerns 31:35 – Aligning ISSB reporting and sector standards 35:10 – How the ISSB is supporting implementation 38:40 – Advice for companies navigating the evolving sustainability reporting landscape 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jul 23, 2024

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. In this episode, we discuss: 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 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jul 18, 2024

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. In this episode, we discuss: 1:10 – An overview of the new standard 5:00 – Aggregation and disaggregation (impacting all primary financial statements and notes) 9:00 – Structural changes to the statement of profit or loss 18:25 – Getting started with implementation and the timeline 21:19 – Management-defined performance measures 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jul 16, 2024

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. In this episode, we discuss: 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 rights 16:03 – Assessing collectibility of the consideration in the contract 27:08 – Determining the contract term 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jul 11, 2024

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. In this episode, they discuss: 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 business 12:58 – 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 reporting 28:55 – What’s on the horizon for nature positive business 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jul 9, 2024

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. In this episode, we discuss: 2:00 – An overview of the PvA model and reporting impacts 8:45 – Key considerations in the PvA analysis 9:50 – Assessing control 16:25 – Challenges in applying the PvA analysis to specific arrangements, including: 16:59 – Healthcare services 24:15 – Payment processing 30:12 – Additional reminders relating to the PvA analysis and related disclosures 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jul 2, 2024

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 reporting 5:55 – Valuation considerations and insights related 6:20 – Goodwill impairments 34:30 – Impairments of long-lived assets 42:53 – Business combinations For 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jun 18, 2024

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 VIE 6:07 – The primary beneficiary power criterion 17:35 – The primary beneficiary economics criterion 21:17 – Related party impacts on the VIE model 26:00 – Ongoing reassessment of the primary beneficiary For 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jun 11, 2024

We continue our miniseries on consolidation accounting and dive into the evaluation of variable interests and the characteristics of a variable interest entity (VIE). In this episode, we discuss: 1:24 – An overview of the VIE model 3:30 – Determining whether there is a variable interest 11:25 – Identifying “at-risk” equity 15:28 – Evaluating whether an entity is a VIE by assessing the following characteristics exist: 16:00 – Insufficient equity investment at risk 24:27 – Equity lacks decision making rights 34:40 – Equity with nonsubstantive voting rights 37:38 – Lack of obligation to absorb losses or right to receive residual returns 41:45 – A recap of the episode and final thoughts For more information on this topic, read chapters 3 and 4 of our Consolidation guide. Also, for an overview of the consolidation framework, listen to the first episode in this miniseries, The consolidation framework – Getting started . 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jun 4, 2024

We kick off our miniseries on consolidation accounting with an overview of the consolidation models and lay the foundation to go deeper into the variable interest entity model in the next two episodes. In this episode, we discuss: 02:59 - Background on the two consolidation models 12:54 - The overall consolidation framework 14:20 - The variable interest entity model 20:25 - The voting interest entity model 23:13 - Consolidation scope exceptions 28:13 - VIE model scope exceptions For more information on this topic, read chapter 1 of our Consolidation guide. Additionally, follow this podcast on your favorite podcast app for more episodes. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

May 30, 2024

In this podcast, host Heather Horn sits down with Katie Woods, a senior director in PwC's Global Corporate Reporting Services group, to discuss the recent activities of the International Sustainability Standards Board (ISSB). They discuss the standards issued by the ISSB to date, recent decisions reached by the board regarding future standard setting activities, updates on jurisdictional activity, and more. In this episode, we discuss: 2:16 - Refresher on the issued IFRS® Sustainability Disclosure Standards (SDS), as well as the Board’s consultation on agenda priorities 8:43 - Sustainability reporting in the broader context of global issues, including biodiversity and human capital 13:06 - The new interoperability guidance from the ISSB and EFRAG related to climate disclosures 19:28 - Updates on jurisdictions looking to adopt IFRS SDS 23:47 - The ISSB’s publication of the IFRS SDS digital taxonomy 25:14 - The significance of the TCFD framework coming under the umbrella of the IFRS Foundation 26:53 - Highlights and areas of focus related to the ISSB’s future activities Looking for the latest developments in sustainability reporting? Follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to stay in the loop for the latest thought leadership on sustainability standards. Katie Woods is a senior director in PwC's Global Corporate Reporting Services - sustainability group advising on ESG and international accounting standards. Katie specializes in the new and emerging ESG reporting frameworks working across the PwC network. She has over 30 years of experience working with a broad range of companies. Katie speaks regularly on a range of ESG and accounting topics. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

May 28, 2024

We wrap up our miniseries on accounting for financing transactions with a focus on the accounting for equity-linked instruments. In this episode, we discuss: 2:03 - Why companies issue equity-linked instruments 7:23 - Determining whether an instrument is freestanding or embedded 13:13 - Determining whether an instrument is indexed to the entity’s own stock 17:23 - Exercise contingencies 19:50 - Settlement adjustments 32:36 - Convertible debt instruments 39:51 - Equity or liability classification For more information on these topics, read chapter 5 of our Financing transactions guide. Also, check out other episodes in our miniseries: Share repurchases – The type of arrangement matters , Accounting for preferred stock from issuance to retirement , and Understanding "mezzanine” equity . Additionally, follow this podcast on your favorite podcast app for more episodes. 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. 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. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

May 21, 2024

Next up in our miniseries on accounting for financing transactions is mezzanine equity. When an instrument is presented as mezzanine equity, it is not permanent equity or a liability. We explain what that means and provide an overview of how to account for it as well as the financial statement impacts. In this episode, we discuss: 1:56 - Background and the associated SEC guidance on mezzanine equity 3:52 - When mezzanine equity presentation is appropriate 27:20 - Measurement 36:20 - Extinguishment 38:13 - EPS impacts For more information on these topics, read chapter 7 of our Financing transactions guide. Also, check out other episodes in our miniseries covering Accounting for preferred stock from issuance to retirement and Share repurchases – The type of arrangement matters . Additionally, follow this podcast on your favorite podcast app for more episodes. Chip Currie is a partner in PwC’s National office with nearly 30 years of experience assisting companies in resolving complex business and accounting issues. He concentrates on the accounting for financial instruments under both current and emerging standards and works with many of the firm's largest financial services clients and a number of non-financial services clients on treasury-related 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 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

May 16, 2024

While the Inflation Reduction Act (IRA) was enacted into law in 2022, the Department of the Treasury continues to provide guidance to taxpayers on how to utilize the provisions of the law. Such guidance has been issued with increasing volume in recent months. In this episode, host Heather Horn sits down with Matt Haskins, principal in PwC's Washington National Tax Services office who focuses on renewable energy transactions, to discuss the latest IRA guidance and the implications for businesses. In this episode, we discuss: 2:18 - Highlights of recent updates regarding the IRA and a look ahead at the political landscape 7:14 - Clarifications on the prevailing wage and apprenticeship and domestic content requirements (and an update on additional guidance released by the IRS related to the Domestic Content Bonus Credit) 20:52 - Updates on the transferable tax credit market and activities 28:25 - Final regulations on transferability of energy credits 32:21 - The latest news on “green” hydrogen requirements 42:55 - Guidance on sustainable aviation fuel and its potential impact on the aviation industry 45:41 - Final electric vehicle regulations and their implications for the automotive industry 49:30 - Advice for companies looking to maximize the benefit of the IRA 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. Matt Haskins is a principal in PwC’s Washington National Tax Services, 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 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

May 14, 2024

We continue our miniseries on accounting for financing transactions with a focus on preferred shares. In this episode we provide an overview and walk through the key judgments in accounting for different types of preferred stock. In this episode, we discuss: 2:01 - An overview of preferred stock, common features, and reasons companies may issue it over other forms of financing 9:40 - The accounting model for preferred stock 14:30 - Classification, recognition, and measurement of preferred stock 30:55 - Dividends 33:34 - Extinguishment or modification accounting For more information on these topics, read chapter 7 of our Financing transactions guide. Also, for more on the EPS implications of preferred stock, listen to our podcast, Presenting earnings per share (EPS) . 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. Christopher Gerdau is a partner in PwC’s National Office specializing in accounting for financial instruments and banking-related topics. Chris also conducts technical reviews of SEC filings and provides technical support to PwC’s practice offices. Chris’s client service expertise includes the banking, capital markets, and insurance industries. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

May 9, 2024

The concept of a circular economy emphasizes reducing, reusing, repairing, and recycling to minimize waste and maximize resource use in the context of a planet with finite resources. And as you’ll hear in this episode, circularity is increasingly becoming a business issue, both a challenge and opportunity, that interacts with multiple sustainability topics. This week, Heather Horn is joined by Tom Beagent, a partner in PwC UK’s Global Sustainability and Climate Change practice, to discuss the circular economy, a sustainable alternative to the traditional linear economy model. In this episode, we discuss: 3:02 - The concept of a circular economy and its importance in the context of finite resources 7:52 - The relationship between a circular economy, net zero emissions, and biodiversity 9:07 - The scale of change required, and the steps involved to transition to a circular economy 13:18 - Examples of industries and products that would benefit the most from transitioning to a circular economy 19:18 - Consumer practices that fit within a circular economy 24:21 - Why regulators are stepping in to mandate change 26:40 - The business opportunities that arise from solving problems related to waste and resource use 28:34 - The challenge of changing consumer behavior and perceptions of abundance 31:58 - Reporting under the EU's ESRS E5 standard and insights from the related data 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. Tom Beagent is a partner in PwC UK’s Global Sustainability and Climate Change practice, specializing in integrating natural and social capital analysis into decision making for sustainable growth. With over 20 years’ experience delivering sustainable business projects, he also co-developed PwC’s Total Impact Measurement and Management methodologies (TIMM), which allows organizations to measure and value the social, environmental, economic, and fiscal impacts resulting from their operations, as well as their extended value chains. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

May 7, 2024

We kick off our miniseries on accounting for financing transactions with a focus on share repurchases. We provide an overview of the different methods and reasons companies may repurchase their own shares as well as the accounting implications. Spoiler alert – the type of arrangement really matters as it dictates the accounting. In this episode, we discuss: 3:38 – An overview of the different methods and reasons companies repurchase shares 11:43 – Accounting implications depending on the method of repurchase: 11:55 – Spot repurchases 15:07 – 10B5-1 plans 16:26 – Forward repurchases 18:56 – Prepaid repurchases 20:30 – Tender offers 24:08 – Accelerated share repurchases 30:40 – Accounting for treasury stock For more information on these topics, read chapter 9 of our Financing transactions guide. Additionally, follow this podcast on your favorite podcast app for more episodes. 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 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Apr 30, 2024

This episode provides an overview of new FASB income tax guidance requiring disaggregated information about a reporting entity’s effective tax rate reconciliation as well as income taxes paid. The FASB’s updates are intended to benefit investors by providing more detailed income tax disclosures that may be useful in making capital allocation decisions. In this episode, we discuss: 0:20 - Background on and an overview of the new guidance 6:50 - Disaggregated rate reconciliation disclosures 26:16 - Disaggregated income taxes paid disclosures 33:15 - Other changes to existing income tax disclosures 35:18 - Effective dates and transition For more information, read our publication, FASB issues guidance on income tax disclosures . Additionally, follow this podcast on your favorite podcast app for more episodes. Jennifer Spang is the PwC National Office income tax accounting leader, specializing in tax accounting under US GAAP and IFRS. She has over 30 years of experience helping companies in a variety of industries navigate complex tax accounting 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 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Apr 25, 2024

Companies subject to multiple sustainability reporting regulations are sorting through how best to meet each framework’s requirements in an effective and efficient manner. In this episode, host Heather Horn sits down with Valerie Wieman, PwC National Office Partner, to discuss the concepts of interoperability and equivalence across global sustainability reporting frameworks as well as the importance of a data-driven assessment. In this episode, we discuss: 2:31 - Defining the concepts of interoperability and equivalence 3:29 - What a “data first” approach means when it comes to preparing for compliance 4:51 - Overview of interoperability and equivalence in the major frameworks 14:00 - Timing considerations across frameworks 19:18 - Differences in scope and materiality among frameworks 24:59 - Attestation and assurance requirements across frameworks 31:25 - Getting started on compliance and how best to leverage interoperability opportunities Looking for the latest developments in sustainability reporting? Follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to stay in the loop for the latest thought leadership on sustainability standards. Valerie Wieman is a PwC National Office partner with over 30 years of experience. She helps lead the creation, development, and publication of our brand-defining thought leadership, with a focus on domestic and international sustainability requirements. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Apr 23, 2024

The final episode in our lease accounting miniseries focuses on embedded leases. Although it may not be explicitly stated, your contract may contain a lease that needs to be accounted for. We cover some of the key considerations and common difficulties. In this episode, we discuss: 1:35 - Embedded leases, including examples 7:43 - The model used to identify an embedded lease 08:56 - Identified asset considerations 16:52 - Control considerations 30:18 - Identification of lease versus non-lease components and allocation of consideration For more information on these topics, read chapter 2 of our Leases guide. Also, check out other episodes in our miniseries covering Lease classification, "Day 2" lease accounting, and lessee accounting for real estate leases . Additionally, follow this podcast on your favorite podcast app for more episodes. Marc Jerusalem is a PwC National Office managing director specializing in leasing. Marc consults with clients on complex lease accounting issues and is a frequent contributor to many related PwC National Office publications. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Apr 18, 2024

A critical step in getting ready for new sustainability reporting requirements is building a comprehensive governance framework. In this episode, host Heather Horn sits down with Stephen Parker and Matt DiGuiseppe of PwC’s Governance Insights Center to discuss the new regulatory environment and what it means for board members looking to discharge their oversight responsibilities effectively and management looking to get the board ready. In this episode, we discuss: 2:21 - Reactions to new sustainability reporting frameworks from senior management and boards 6:13 - Strategies for managing the “noise” around new rules and how best to proceed despite uncertainty 10:43 - The need to upskill board members so that they are capable of performing their fiduciary responsibility related to oversight of sustainability processes and disclosures 18:43 - How management can best help the board prioritize its time given the increase in its responsibilities 23:15 - Whether the market has begun to consider a board candidate’s knowledge of climate during board selection processes and the level of expertise required 27:39 - How boards are performing their responsibilities with respect to climate information 33:55 - Working through the challenges of presenting sustainability information to the board given tight timelines and other reporting responsibilities 39:25 - Best practices for governance over sustainability matters at the board and management levels Looking for the latest developments in sustainability reporting? Follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to stay in the loop for the latest thought leadership on sustainability standards. Stephen Parker is a partner in PwC’s Governance Insights Center, which strives to strengthen the connection between directors, executive teams, and investors by helping them navigate the evolving governance landscape. With more than 30 years of experience, Stephen has advised boards of directors on a variety of complex financial reporting matters. Stephen’s client service experience includes energy and utility companies, financial services companies, and nonprofits. Matt DiGuiseppe is a managing director in PwC’s Governance Insights Center, which helps stakeholders navigate the evolving governance landscape. Matt has participated in numerous industry groups and was the founding chairperson of the Investor Stewardship Group (ISG), which advanced a set of corporate governance and stewardship principles for the US market. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Apr 16, 2024

In this next episode in our miniseries on lease accounting, we focus on lessee accounting for real estate leases. From lease incentives to build-to-suit arrangements and more, we cover some of the key areas that lessees should consider in accounting for real estate leases. In this episode, we discuss: 03:25 - Lease incentives 08:23 - Distinguishing between lessee and lessor assets 11:28 - Accounting for lessee assets 13:50 - Accounting for lessor assets 17:20 - Determination of the lease commencement date 19:06 - Multiple units of account in a lease 21:51 - Build-to-suit arrangements For more information on these topics, read chapters 3 , 6 , and 8 of our Leases guide. Also, check out other episodes in our miniseries covering lease classification and “day 2” lease accounting . Additionally, follow this podcast on your favorite podcast app for more episodes. Suzanne Stephani is a director in PwC’s National Office specializing in the statement of cash flows, as well as the application and interpretation of the accounting guidance related to financing and leasing transactions. Marc Jerusalem is a PwC National Office managing director specializing in leasing. Marc consults with clients on complex lease accounting issues and is a frequent contributor to many related PwC National Office publications. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Apr 11, 2024

While the changing global sustainability reporting landscape may pose challenges for preparers, there continue to be opportunities for companies in every industry to take a holistic approach to disclosure – whether mandatory or voluntary. In this episode, host Heather Horn sits down with Marc Siegel, PwC National Office partner, for a discussion of the key focus areas and action steps for C-suite executives as they ready their companies for the future of global sustainability reporting. In this episode, we discuss: 2:36 - How the market has spoken – and determined that sustainability disclosures are needed, regardless of regulatory actions 4:15 - Challenges of reporting under multiple frameworks 14:50 - How to prioritize gathering information 18:51 - The importance of building stronger disclosure controls and processes as well as having the right people focused on the task 23:02 - Navigating the market’s expectations for sustainability information 28:51 - Challenges resulting from differing time horizons for sustainability and financial reporting, and how to tie these horizons together to communicate a cohesive strategy 32:50 - How companies can tailor climate disclosures given the specific risks the company faces due to climate-related factors 35:43 - Key governance-related behaviors companies are adopting and how they are disclosing these behaviors 38:19 - The importance of starting the readiness process irrespective of ongoing legal challenges Looking for the latest developments in sustainability reporting? Follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to stay in the loop for the latest thought leadership on sustainability standards. For more information on the SEC climate-related disclosure rules, refer to our publication, SEC adopts climate-related disclosure rules . Marc Siegel is a PwC National Office partner. He helps boards and executives with transparent articulation of their company’s long term value creation story, throughout investor communication channels within and outside of regulatory filings. Marc completed 14 years of setting reporting standards in both financial accounting and ESG as a member of the FASB and SASB, respectively. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Apr 9, 2024

We continue our miniseries on lease accounting. In this episode, we discuss “day 2” lease accounting, focusing on lease remeasurements, subleasing, and lease impairments. In this episode, you’ll hear a discussion of: 01:18 - Events requiring remeasurement 02:17 - Full lease remeasurements 06:19 - Partial lease remeasurements 7:47 - Lease term and purchase option remeasurements 13:44 - Lease modification remeasurements 21:34 - Subleasing arrangements 25:58 - A refresher on ROU asset impairments For more information on modifications and remeasurements of leases, read chapter 5 of our Leases guide. For more on leases, check out the first episode in our miniseries; it covers lease classification. Additionally, follow this podcast on your favorite podcast app for more episodes. Suzanne Stephani is a director in PwC’s National Office specializing in the statement of cash flows, as well as the application and interpretation of the accounting guidance related to financing and leasing transactions. Marc Jerusalem is a PwC National Office managing director specializing in leasing. Marc consults with clients on complex lease accounting issues and is a frequent contributor to many related PwC National Office publications. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Apr 4, 2024

The International Sustainability Standards Board (ISSB) under the IFRS Foundation last year released IFRS S1 and IFRS S2, representing a step toward the organization’s goal of achieving a comprehensive global baseline of sustainability disclosures. But implementing such a global baseline effectively goes beyond simply setting standards – it requires a new set of capabilities, infrastructure, knowledge, and talent in economies around the world. New sustainability reporting requirements in jurisdictions around the world have resulted in the need for companies to take stock of their own capacity to produce high quality sustainability disclosures, as well as the capacity of players in their value chains who will provide inputs to their reporting. In this episode, Heather Horn sat down with Mardi McBrien, Chief of Strategic Affairs & Capacity Building at the IFRS Foundation, to discuss how the IFRS Foundation has been working to build capacity, and how companies can best navigate the overall sustainability reporting environment moving forward. In this episode, you’ll hear: 2:31 - A refresher on capacity building and its importance in sustainability reporting 4:38 - A discussion of the need for upskilling in various sectors to meet global sustainability reporting standards 8:43 - An overview of the drivers of the IFRS Foundation’s focus on capacity building 17:14 - Advice on implementing new business processes and enhancing communication with suppliers to prepare for new disclosure standards 21:33 - A discussion of the progress made in capacity building and the role of the IFRS Foundation’s partners in this process 29:00 - An overview of the IFRS Foundation’s “three pillar approach” for capacity building 35:19 - Where listeners can go to understand where the ISSB is headed with standard setting and what is next for companies preparing to report Looking for the latest developments in sustainability reporting? Follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to stay in the loop for the latest thought leadership on sustainability standards. Mardi McBrien is the Chief of Strategic Affairs & Capacity Building at the IFRS Foundation responsible for sustainability reporting. In this role she has played an active part in setting up the ISSB. Prior to the IFRS Foundation, Mardi spent over a decade leading the global ESG standard setter, the Climate Disclosure Standards Board (CDSB), in developing quality disclosure standards and thought leadership on environmental and social 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 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Apr 2, 2024

This first episode in a miniseries on lease accounting focuses on lease classification. We provide an overview of the differences between finance and operating leases and discuss the criteria for classifying leases. In this episode, you’ll hear: 3:30 - An overview of the key differences between finance and operating leases, including expense recognition and cash flow classification 5:15 - A discussion of how to determine if a lease should be classified as finance or operating including: 6:35 - Lease commencement date considerations 10:20 - Whether a lease contains a single asset or multiple assets 14:41 - Whether the lease term is a major part of the economic life of the asset 22:55 - The lease payment criterion, including a breakdown of lease payments and the appropriate discounting methodology 41:56 - Highlights of other classification criteria such as title transfer, purchase options, and alternative use For more information, read chapter 3 of our Leases guide. Additionally, follow this podcast on your favorite podcast app for more episodes. Suzanne Stephani is a director in PwC’s National Office specializing in the statement of cash flows, as well as the application and interpretation of the accounting guidance related to financing and leasing transactions. Marc Jerusalem is a PwC National Office managing director specializing in leasing. Marc consults with clients on complex lease accounting issues and is a frequent contributor to many related PwC National Office publications. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Mar 26, 2024

We wrap up our miniseries exploring accounting for property, plant, and equipment with a discussion of asset acquisitions. In this episode Host Heather Horn is joined by PwC National Office partners Matt Sabatini and Alexander Martin who team up to share their knowledge and insights on this topic. In this episode, you’ll hear: 04:41 – A discussion of how to determine whether a transaction is an asset acquisition or a business combination 24:26 – An explanation of the asset acquisition accounting framework 32:58 – The complexities of contingent consideration arrangements 39:32 – How transaction costs impact initial measurement 42:09 – Noncontrolling interests 47:36 – Considerations when identifying the assets acquired 50:15 – How to allocate cost to assets acquired For more information, read chapter 2 of our Property, plant, equipment and other assets guide. Additionally, follow this podcast on your favorite podcast app for more episodes. 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, corporate reorganizations, recapitalizations, joint ventures, and other investments. Alexander Martin is a partner in PwC's National Office 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Mar 19, 2024

We continue our miniseries exploring accounting for property, plant, and equipment. In this second episode we discuss the treatment of long-lived assets that are held for sale, from impairment to accounting for the sale of non-financial assets. Host Heather Horn is once again joined by Beth Paul, Deputy Chief Accountant in PwC’s National Office, to walk through specific considerations and complexities on this topic. In this episode, you’ll hear: 00:22 – An overview of the impairment model for long-lived assets that are held for sale 02:05 – How to identify disposal groups 03:50 – A discussion of the order of impairment testing under the held for sale model 04:46 – What to consider when measuring impairment at the lower of carrying value or fair value less cost to sell 11:25 – A walkthrough of the accounting implications of AOCI and noncontrolling interest (NCI) in the held for sale model 16:05 – An explanation of differences between the sale of a business and the sale of an asset 18:00 - A discussion of accounting for the sale of nonfinancial assets For more information, read chapter 5 of our Property, plant, equipment and other assets guide or listen to another podcast with further insights on this topic, Fixed asset toolkit: Assets held for sale . 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. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Mar 14, 2024

Got property, plant, and equipment? We’ve got you covered with a miniseries that explores the key judgments and complexities on the topic. We kick off with the impairment of long-lived assets that are held and used. Host Heather Horn is joined by Beth Paul, Deputy Chief Accountant in PwC’s National Office, to break down what is important. In this episode, you’ll hear: 00:28 - An overview of long-lived asset impairments and how asset classes are relevant 03:17 - A refresher on how to identify asset groups for the impairment analysis 10:28 - When changes to asset groups are necessary and the implications 11:48 - How to determine if there is an impairment triggering event 14:57 - A discussion on the impairment recoverability test 17:18 - A explanation of key considerations for the recoverability test, including which cash flows and periods to include 24:18 - How to measure and allocate an impairment loss For more information, read chapter 5 of our Property, plant, equipment and other assets guide or listen to another podcast with further insights on this topic, Impairment toolkit: Long-lived assets . Additionally, follow this podcast on your favorite podcast app to have other episodes in the series pushed to you. 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. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Mar 7, 2024

The GHG Protocol has been one of the most widely used sustainability reporting frameworks for companies reporting GHG emissions information. With the evolution of the sustainability reporting landscape, including the adoption of regulatory sustainability reporting frameworks both in the United States and globally, the criticality of GHG emissions information and the GHG Protocol is reinforced by its incorporation in the primary sustainability reporting frameworks. In this episode, host Heather Horn sits down with Marcin Olewinski, a PwC Trust Solutions partner, to unpack some of the fundamental judgments in GHG emissions reporting as companies prepare for the shift from a voluntary to mandatory reporting environment. In this episode, you’ll hear: 00:44 - An overview of the prominence of GHG emissions reporting across jurisdictions, including the impact of the evolution in the regulatory landscape 2:24 - A discussion of the key concepts and definitions that are foundational to GHG emissions reporting, including: 3:01 - An overview of scope 1, 2, and 3 emissions 10:30 - A breakdown of organizational and operational boundaries 14:15 - Insights on practical challenges companies face in establishing the reporting boundary and preparing a GHG emissions inventory 16:05 - A refresher on the key differences in organizational boundaries among the sustainability reporting frameworks and advice for companies subject to multiple frameworks 18:50 - Considerations for companies establishing policies, processes, and controls to collect and aggregate data across its own operations and its value chain as a starting point for a GHG emissions inventory that is complete and accurate 27:59 - A discussion of the importance of consistency and reliability of input data as it relates to both activity data and emissions factors, including advice for companies navigating this reporting journey For more information, read our Navigating the ESG landscape publication as well as our comment letter to the GHG protocol. Additionally, note that this podcast was recorded prior to issuance of the SEC climate disclosure rules on March 6. Stay tuned for more content specific to the SEC rules. Lastly, follow this podcast on your favorite podcast app for more episodes. Marcin Olewinski is a partner in PwC’s Trust Solutions practice, with over 20 years of experience bringing valued perspectives and insights to large clients in the energy sector. Additionally, he is focused extensively within PwC’s National Office on greenhouse gas and sustainability reporting. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Mar 5, 2024

We continue our podcast series focused on financial statement presentation. In this episode, host Heather Horn sits down with Bret Dooley, Deputy Chief Accountant in PwC’s National Office leading our financial instruments team, for a refresher on restricted cash – a focus area due to its impact on liquidity and the recent statement from the SEC Chief Accountant on the cash flow statement. Together, they break down the judgments in identifying and presenting restricted cash. In this episode, you’ll hear: 2:10 - A refresher on restricted cash, including its not-so-simple definition, its impact on liquidity ratios, and its relevance in the current economic environment 9:30 - A discussion of the various types of restrictions imposed on cash and its impact on the classification and reporting of restricted cash, including: 10:35 - Distinguishing between self-imposed and legal restrictions 15:02 - Contractual restrictions 19:39 - Cash collected or remitted on behalf of others 24:45 - How to consider the types of restrictions imposed on cash equivalents 27:28 - Final reporting reminders for companies dealing with restricted cash or cash equivalents For more information, read chapter 6 of our Financial statement presentation guide or listen to another podcast on the statement of cash flows, 2023 Year-end toolkit: Conquering the statement of cash flows . 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. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Feb 29, 2024

The European Union (EU) has ushered in a new era of sustainability reporting, as the Corporate Sustainability Reporting Directive (CSRD) is now effective. With impacts to both EU and non-EU headquartered companies, now is the time to understand the reporting requirements of this sweeping new regulation. Continuing our CSRD series, this week Heather Horn is joined by PwC Netherlands partner Kees-Jan de Vries to discuss the topic of the EU’s green taxonomy disclosures for financial institutions, including how the metrics and key performance indicators differ from the baseline taxonomy disclosures, as well as what financial institutions should be doing to prepare. In this episode, you’ll hear: 2:31 - Explanation of the European Union's green taxonomy and its implications 9:14 - Discussion on how the green taxonomy is different for financial institutions 12:17 - Breakdown of key performance indicators (KPIs) 18:58 - Challenges financial institutions face in reporting on the green taxonomy 22:03 - Expectations for banks and insurance companies to seek out more data due to the green taxonomy 27:10 - The shift from the Non-Financial Reporting Directive (NFRD) to the Corporate Sustainability Reporting Directive (CSRD) and its impact 30:34 - How adoption of taxonomy disclosures requires similar oversight and controls as adoptions of other accounting rules and disclosure frameworks Kees-Jan de Vries is a sustainability partner for PwC Netherlands, specializing in reporting for banks and insurance companies. He serves as chair of PwC's international Financial Services Sustainable Reporting Working Group that interprets EU Taxonomy, CSRD, ESRS, and SFDR requirements. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Feb 27, 2024

We continue our month of podcasts focused on financial statement presentation. In this episode, host Heather Horn sits down with Bret Dooley, Deputy Chief Accountant in PwC’s National Office leading our financial instruments team, for a refresher on a topic that is fundamental to financial reporting for its impact on financial statement ratios – balance sheet offsetting. Together, they break down the complexities involved in determining whether and how to offset balance sheet amounts. In this episode, you’ll hear: 1:30 – A refresher on balance sheet offsetting, including its purpose and significance to financial statement users 6:15 – A discussion of the general accounting framework, including the four conditions to determine whether a right of setoff exists 15:33 – An explanation of the different offsetting arrangements for derivatives 19:11 – A breakdown of the six criteria for balance sheet offsetting of reverse repurchase and repurchase agreements 22:59 – Final accounting reminders for companies navigating balance sheet offsetting For more information, read chapters 19 and 22 of our Financial statement presentation 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. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Feb 22, 2024

The European Union (EU) has ushered in a new era of sustainability reporting, as the Corporate Sustainability Reporting Directive (CSRD) is now effective. With impacts to both EU and non-EU headquartered companies, now is the time to understand the reporting requirements of this sweeping new regulation. Continuing our CSRD series, this week Heather Horn is joined by Peter Flick and Nina Schäfer to discuss the topics of reporting boundaries and other common CSRD implementation questions companies are facing. In this episode, you’ll hear: 3:30 – Explanation of the concepts of reporting boundaries and value chain in sustainability reporting 8:59 – An analogy of concentric circles to explain the concept of own operations and value chain 12:24 – A discussion on the importance of considering subsidiaries in ESG reporting 23:01 – Insights on the impacts of leasing contracts and special purpose entities on sustainability reporting 33:16 – Context for the implementation guidance provided by EFRAG for companies starting with their adoption of CSRD reporting Looking for the latest developments in sustainability reporting? Follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to stay in the loop for the latest thought leadership on sustainability standards. Peter Flick is the Sustainability Reporting Technical Leader for PwC Germany, where he oversees a team focused on sustainability reporting issues in the National Office. Prior to taking on sustainability reporting, Peter consulted with clients on complex financial instrument accounting under IFRS and German GAAP. Nina Schäfer is a Director in PwC Germany’s National Office, where she focuses on sustainability reporting technical issues and consultations. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Feb 20, 2024

We continue our month of podcasts focused on financial statement presentation. In this episode, host Heather Horn sits down with Jay Seliber, a partner in PwC’s National Office specializing in business combinations, to share insights on the accounting and reporting considerations for discontinued operations. Together, they unpack the judgments and practical challenges in navigating discontinued operations, an area of increased focus given the current economic environment in which many companies are considering disposing of portions of their businesses. In this episode, you’ll hear: 2:27 – An overview of the criteria and qualifications for discontinued operations, including highlights of the key areas of judgment, timing considerations, and implications for businesses 13:05 – Insights on the qualifications for held-for-sale treatment 18:40 – Key questions on presentation and classification of discontinued operations after meeting the gating criteria, including: 19:01 – Impact to the balance sheet and income statement 21:45 – Debt and income tax implications 25:25 – Impact on earnings per share (EPS) computations 28:55 – Statement of cash flows implications 30:50 – Overview of the SEC filing requirements related to discontinued operations 36:16 – Final advice for preparers on presenting discontinued operations For more information, read chapter 27 of our Financial statement presentation guide and chapter 12 of our Income taxes guide. Additionally, follow this podcast on your favorite podcast app for more episodes. Jay Seliber is a partner in PwC’s National office. He leverages over 30 years of experience to help clients with their most complex accounting matters, particularly in the areas of mergers and acquisitions, revenue recognition, stock compensation, earnings per share, employee benefits, restructurings, impairments, and financing transactions. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Feb 13, 2024

We continue our month of podcasts focused on financial statement presentation hot topics. In this episode, host Heather Horn sits down with Pat Durbin, a deputy chief accountant in PwC’s National Office, and Felix Perez, a partner in PwC’s National Office specializing in SEC reporting, to discuss the significance of income statement presentation to the investor community and standard setters. Together, they break down key areas of judgment and the practical challenges involved in income statement presentation and classification. In this episode, you’ll hear: 1:34 - The significance of income statement presentation and classification in portraying financial performance, including general reporting considerations and the interaction between income statement presentation and non-GAAP metrics 8:50 - The SEC's rules on the form and content of income statements, including considerations for financial institutions 21:44 - Income and expense disaggregation reminders, including classification of operating versus non-operating expenses as well as considerations for cost of sales, depreciation, and amortization 33:50 - The complexities of income statement classification in collaborative arrangements, discontinued operations, and impairments 42:05 - An update on the FASB project on disaggregation of income statement expenses (DISE) project For more information, read chapter 3 of our Financial statement presentation guide. 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. 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. Felix Perez is a partner in PwC’s National Office specializing in SEC reporting. He has over 25 years of experience serving clients and engagement teams across financial services and technology sectors. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Feb 8, 2024

Investors today want to better understand how companies are managing crises and staying resilient, while creating and protecting long-term value in today’s fracturing world. They are looking closely at two areas—emerging technology and sustainability—to gauge whether companies can seize opportunities for reinvention and business transformation, or whether they will instead succumb to rivals. That’s according to PwC’s most recent Global Investor Survey, which is now in its third consecutive year. To break down some of the survey’s results and their implications for preparers, Heather Horn sat down with Nadja Picard, PwC’s global reporting leader. In this episode, you’ll hear: 3:19 - The importance of sustainability in the context of broader business activity and how it is no longer a siloed topic 5:54 – How investors prioritize agility in managing long-term risks and opportunities 17:25 - The challenges companies face in collecting and managing sustainability data and the importance of having a well-defined data strategy 18:19 - The importance of credibility in sustainability reporting and how investors are looking for strategies that are underpinned by good plans 24:43 - Investor perspectives and beliefs on corporate greenwashing, per our survey 29:41 - The learning journey of companies in implementing sustainability reporting and the role of regulators in this process 32:58 - The future of sustainability reporting and the role of technology in improving data collection and reporting Looking for the latest developments in sustainability reporting? Follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to stay in the loop 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 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Feb 6, 2024

We kick off another month of podcasts, this time focused on financial statement presentation hot topics. Drumroll please... This week we are presenting EPS. In this episode, host Heather Horn sits down with John Horan, PwC National Office managing director, to discuss the significance of earnings per share (EPS), focusing on the practical challenges and judgments involved in this not-so-simple, but very closely-watched, computation. In this episode, you’ll hear: 00:56 - The significance of EPS to the analyst and investor community 02:59 - A refresher of the differences between basic and diluted EPS and a discussion of judgments involved in the computation, including redeemable securities 9:50 - A discussion of the impact of changes in capital structure and reorganizations, including stock dividends, stock splits, and IPOs, on the EPS computation 20:25 - Reporting reminders, including disclosure requirements and considerations related to subsequent events For more information, read chapter 7 of our Financial statement presentation guide. Additionally, follow this podcast on your favorite podcast app for more episodes. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Feb 1, 2024

Even as mandatory sustainability reporting regulations near effective dates in jurisdictions around the world, voluntary reporting remains an important part of many companies’ disclosures. With more than 10,000 companies around the world using its standards, the Global Reporting Initiative (GRI) remains a key standard setter in the impact reporting space. Today’s guest makes the case that there are myriad benefits to voluntary reporting – not the least of which is preparation for mandatory reporting. Host Heather Horn sits down with Eelco van der Enden, CEO of GRI, to discuss GRI's recent accomplishments and the path ahead for sustainability reporting around the world. In this episode, you’ll hear them discuss: 1:05 - GRI’s accomplishments in the past year 6:29 - The development of a digital taxonomy that will facilitate interoperability between the European Sustainability Reporting Standards (ESRS) and GRI 12:16 - The overlap between impact reporting and financial materiality, and the importance of considering demographic challenges, climate change, and related legislation in impact reporting 17:45 - The collaboration between GRI and the International Sustainability Standards Board (ISSB) in launching a Sustainability Innovation Lab in Singapore 30:53 – How GRI is innovating to support small and medium company reporting 39:16 – The launch of GRI’s new disclosure standard on biodiversity 41:15 – How standard setters are working together to address the challenges faced by companies in complying with multiple reporting regimes Looking for the latest developments in sustainability reporting? Follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to stay in the loop for the latest thought leadership on sustainability standards. Eelco van der Enden is the CEO of the Global Reporting Initiative. Prior to this role, Eelco led PwC’s global ESG platform for the Tax & Legal and People Services, and PwC's Tax Administration Consulting practice. Eelco is also Chairman of the Tax Policy Group of Accountancy Europe, and has published multiple articles on tax governance and reporting. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jan 23, 2024

In each episode of our Year-end toolkit series, our guests share insights on key areas of the year-end accounting and reporting process. In this episode, guest host Kevin Vaughn, PwC National Office partner, sits down with Suzanne Stephani, PwC National Office director, to discuss the significance of the statement of cash flows, focusing on the practical challenges and judgments involved in the classification of cash flows. In this episode, you will hear: 2:05 - Frequent challenges and restatements related to the statement of cash flows 5:10 - Insights from the SEC Chief Accountant, Paul Munter, on risk management and controls related to the statement of cash flows as well as considerations for assessing the materiality of cash flow restatements 14:15 - Fundamental principles of the statement of cash flows, including the identification of cash equivalents and related disclosure considerations 21:40 - Gross versus net presentation on the statement of cash flows, including considerations for non-cash and nonrecurring transactions 27:25 - Key areas of judgment, including: 27:25 - Applying the concept of constructive receipts and disbursements when dealing with third-party or agent transactions 32:58 - The impact of debt transactions, including debt extinguishments and restructurings, on the statement of cash flows 40:50 - Considerations when dealing with lease modifications, business combinations, discontinued operations, and classification of cash flows associated with treasury bills For more information, read chapter 6 of our Financial statement presentation guide. Additionally, follow this podcast on your favorite podcast app for upcoming episodes in our Year-end toolkit series. Suzanne Stephani is a director in PwC’s National Office specializing in the statement of cash flows, as well as the application and interpretation of the accounting guidance related to financing and leasing transactions. 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. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jan 18, 2024

In each episode of our Year-end toolkit series, our guests share insights on key areas of the year-end accounting and reporting process. In this episode, guest host Kevin Vaughn, PwC National Office partner, sits down with Suzanne Stephani, PwC National Office director, to discuss the judgments and complexities involved in the balance sheet classification of debt, focusing on the challenges arising more frequently in today’s macroeconomic environment. In this episode, you will hear: 1:26 - A refresher on the importance of balance sheet classification of debt, including the impact of current economic conditions on debt and credit risk 4:10 - Key considerations for classifying debt, including: 6:11 - Reminders for dealing with refinancing arrangements 8:20 - The implications of subjective acceleration clauses (SAC) in financing agreements 11:32 - The implications of covenant violation waivers on balance sheet classification 15:30 - Other facts and circumstances impacting debt classification 23:10 - A discussion of the increased prominence of revolving debt arrangements and reminders for companies dealing with revolving agreements 30:05 - Final advice for preparers on navigating debt classification and managing covenant violations For more information, read chapter 12 of our Financial statement presentation guide. Additionally, follow this podcast on your favorite podcast app for upcoming episodes in our Year-end toolkit series. Suzanne Stephani is a director in PwC’s National Office specializing in the statement of cash flows, as well as the application and interpretation of the accounting guidance related to financing and leasing transactions. 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. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jan 16, 2024

XBRL is an open international standard for digital business reporting that allows information to move between organizations rapidly and with accuracy. While XBRL is a mature component of today’s financial reporting ecosystem, a shared digital reporting language may also be critical for the future of sustainability reporting. In this episode, host Heather Horn sits down with John Turner, CEO of XBRL International, the global consortium that manages and promotes XBRL, to discuss the framework’s role in enhancing the quality and usefulness of sustainability disclosures. In this episode, you’ll hear: 4:02 - Defining digital taxonomies, digital languages, and XBRL 9:49 - How standard setters interact with digital taxonomies 16:27 - How accurate digital tagging of financial data is crucial to robust investment analysis 22:10 - Approaches on digitally tagging qualitative information and footnotes 25:38 - How digital taxonomies could impact sustainability reporting 28:30 - Anticipated challenges in aligning digital reporting across differing sustainability standards 40:23 - Digital readiness considerations for issuers planning for mandatory sustainability reporting 45:03 - The importance of issuers voicing feedback to regulators as standards are set Looking for more information on XBRL? Check out our previous podcast episode, What’s next in tech for finance? XBRL, your competitive advantage , as well as PwC’s XBRL service offerings . Additionally, follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to stay in the loop for the latest thought leadership on sustainability standards. John Turner is the CEO of XBRL International. In his role, John is responsible for enhancing reporting under regulatory standards and supporting the adoption of XBRL globally. Throughout his career, he has been focused on improving business reporting and analytics, having been a leading member of the XBRL community since 2001 when it was founded, and also serving in roles within the consulting and regulation spaces. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jan 11, 2024

In each episode of our Year-end toolkit series, our guests share insights on key areas of the year-end accounting and reporting process. In this episode, guest host Kyle Moffatt, PwC National Office Professional Practice leader, sits down with PwC’s US Trust Solutions Quality Management leader, Michael Mullen, to help us navigate materiality judgments in a challenging financial environment. In this episode, you’ll hear: 2:10 - A discussion of the guiding principles of SAB 99 and its importance in the current macroeconomic environment 5:41 - A refresher on the framework for evaluating materiality and errors in financial statements, including both quantitative and qualitative aspects 7:05 - Observations on the increase in SEC staff comments and requests for SAB 99 analyses to support materiality judgments 8:40 - Recent SEC statements on the increased trends in restatements and revisions, including considerations for preparers and auditors working through materiality assessments and reminders on the control implications 15:55 - A discussion of the role of the audit committee and the importance of proactively engaging with those charged with governance when dealing with materiality judgments 17:45 - Key takeaways for preparers and auditors in navigating the heightened risk of fraud and the significance of understanding the role of each stakeholder in the financial reporting process 21:40 - Final advice for preparers on improving processes and controls to effectively avoid errors For more information on key SEC rules, refer to our publications on cybersecurity disclosures and cybersecurity materiality assessments . Additionally, follow this podcast on your favorite podcast app for upcoming episodes in our Year-end toolkit series. Michael Mullen is PwC’s US Trust Solutions Quality Management leader. In this role, he oversees complex client issues, providing technical insights and expertise in support of overall quality. With over 30 years of client service experience, Michael has led numerous global client engagements. 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. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jan 10, 2024

The European Green Deal is a package of policy initiatives introduced by the European Commission (EC) in December 2019 with objectives to achieve “no net emissions of greenhouse gases by 2050, economic growth decoupled from resource use, and no person and no place left behind.” Many companies are already focused on one aspect of the Green Deal — the Corporate Sustainability Reporting Directive (CSRD). But the CSRD is far from the only EU regulation needing immediate attention. This audio companion details several other pressing and broadly applicable EU regulations that would also be newly applicable — or possibly already applicable — for both EU and non-EU companies. In this episode, podcast host Heather Horn brings you an audio version of our publication covering the EU regulations beyond CSRD. In this podcast, we cover: 1:00 - Overview of the EU regulatory landscape 7:01 – EU Taxonomy 30:54 – Sustainable finance disclosure regulation 38:17 – Carbon Border Adjustment Mechanism 44:06 – Foreign Subsidies Regulation 49:13 – Corporate Sustainability Due Diligence Directive 54:16 – Final thoughts Looking for more information on the CSRD and other EU reporting requirements? Check out our publications European Union regulations beyond CSRD , Worldwide impact of CSRD - are you ready? , and Take the next step - decide how to report under CSRD for further details. Additionally, follow this podcast on your favorite podcast app for future episodes in this CSRD spotlight miniseries, and subscribe to our weekly newsletter to get all of our thought leadership. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jan 9, 2024

In each episode of our Year-end toolkit series, our guests share insights on key areas of the year-end accounting and reporting process. In this episode, guest host Kyle Moffatt, PwC National Office Professional Practice leader, sits down with Stephen Parker, a partner in PwC’s Governance Insights Center, to discuss the ways that finance teams can effectively communicate with those charged with governance and share insights on key areas of focus for audit committees. In this episode, you’ll hear discussion of: 2:00 - The challenges facing both management teams and audit committee members, including the breadth of issues raised to audit committees 7:50 - The top issues finance teams should be prepared to discuss with audit committees, including keeping up with the regulatory and compliance landscape, the evolution of ESG discussions, and the intersection of risk management and strategy 17:58 - Preparing to effectively address new SEC cybersecurity disclosure rules 20:05 - Key insights on feedback heard from audit committees and boards of directors as well as an overview of the results of the Center for Audit Quality (CAQ) 2023 Audit Committee Transparency Barometer report 27:10 -Final advice for management teams engaging with those charged with governance For more information on key SEC rules, refer to our publications on cybersecurity disclosures and cybersecurity materiality assessments . Additionally, follow this podcast on your favorite podcast app for upcoming episodes in our Year-end toolkit series. Stephen Parker is a partner in PwC’s Governance Insights Center, which strives to strengthen the connection between directors, executive teams, and investors by helping them navigate the evolving governance landscape. With more than 30 years of experience, Stephen has advised boards of directors on a variety of complex financial reporting matters. Stephen’s client service experience includes energy and utility companies, financial services companies, and nonprofits. 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. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jan 4, 2024

In each episode of our Year-end toolkit series, our guests share insights on key areas of the year-end accounting and reporting process. In this episode, guest host Kyle Moffatt, PwC National Office Professional Practice leader, sits down with PwC National Office leader Tim Carey and PwC National Office partner Kevin Vaughn to discuss rulemaking priorities and provide helpful reminders for public companies navigating SEC developments as they head into year end. 4:08 - The active pace of rulemaking and how that demonstrates the SEC’s priorities 11:00 - Key new and proposed SEC rules: 11:20 - Insights on the new executive incentive compensation clawback rule and the interaction with navigating accounting errors 17:45 - Judgments involved in the new cybersecurity disclosure rule and considerations when assessing materiality for evaluating incidents 26:05 - The impact of new rules on companies preparing for year-end reporting 28:35 - A status update on pending SEC rules, including the human capital and climate proposals 34:20 - The integral role that transparent disclosures play in investor protection 39:00 - Other year-end SEC reporting reminders, including the impact of MD&A in communicating business performance and challenges, insights on pay versus performance disclosures, and reminders on non-GAAP disclosures 48:20 - Final advice for companies preparing for year-end reporting, including takeaways on new FASB standards on segment reporting, crypto assets, and income taxes For more information on key SEC rules, refer to our publications on clawbacks , cybersecurity disclosures , cybersecurity materiality assessments , and the vacated SEC share repurchase rule . Also listen to our 2023 SEC comment letter podcast series for more insights related to SEC reporting. Tim Carey is PwC’s National Office leader, with 30+ years of experience in complex accounting, tax, and reporting issues. Tim has led large-scale teams on a wide range of projects including financial statement audits, transaction structuring, financial due diligence, and post-merger integration. 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. Transcripts available upon request for individuals who m Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jan 2, 2024

In each episode of our Year-end toolkit series, our guests share insights on key areas of the year-end accounting and reporting process. To kick off the series, guest host Valerie Wieman, PwC National Office partner, welcomes three of our deputy chief accountants to discuss what is top of mind for each of them this year end. In this episode, you will hear discussion of: 3:41 - Contingent consideration in a business combination, including the impact on the statement of cash flows 6:20 - Equity method investments and recording basis differences 10:08 - Disposing of a business, including when to apply the held-for-sale model 15:34 - Revenue contract modifications 18:40 - Avoiding common pitfalls with debt restructurings in a rising interest rate environment 23:55 - Fair value measurement after compensation and incentive arrangement modifications and the impact of the SEC’s new clawback rule 35:39 - Updates on segment reporting 37:31 - Impact of the current macroeconomic environment on impairment analyses 39:58 - Tax implications of nonrecurring transactions and accounting for Inflation Reduction Act (IRA) credits 47:20 - Cash flow presentation of other financing sources, including revolving debt agreements and supplier finance programs For more information on presentation and disclosure requirements, read our Financial statement presentation guide, and for further insights on the latest accounting, financial reporting and regulatory updates, read our Q4 2023 quarter close . Additionally, follow this podcast on your favorite podcast app for upcoming episodes in our Year-end toolkit series, and for disclosure reminders on supplier finance programs, listen to our previous podcast . Bret Dooley is a Deputy Chief Accountant in PwC’s National Office and the financial instruments accounting leader. He has over 25 years of experience specializing in the financial services, banking, and capital markets industries. Bret focuses on emerging financial reporting issues relating to financial instruments, developing interpretive guidance, and assisting clients in resolving complex accounting matters. 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. 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. Valerie Wieman is a PwC National Office partner with over 30 years of experience. She helps lead the creation, development, and publication of our brand-defining thought leadership, with a focus on domestic and international sustainability requirements. Transcripts available upon request for individuals who may need a disability-related accom Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Dec 21, 2023

The European Union (EU) has ushered in a new era of sustainability reporting, as the Corporate Sustainability Reporting Directive (CSRD) is now effective. With impacts to both EU and non-EU headquartered companies, now is the time to understand the reporting requirements of this sweeping new regulation. Continuing our CSRD series, this week we dive into a core component of reporting under the directive: the value chain. The CSRD will extend reporting to a company’s direct and indirect business relationships and activities across its value chain, which is expected to be one of the more challenging areas of compliance. In this episode, host Heather Horn is joined by PwC sustainability director Luca Bonaccorsi to discuss the concept of value chain reporting and what companies can do to navigate this “quantum leap” in reporting. In this episode, you’ll hear: 3:00 - What the value chain is, and its importance in the context of CSRD and sustainability reporting 6:27 – The importance of upstream and downstream (i.e., across the whole product life cycle from manufacturing to end use) value chain considerations 13:27 - How to assess the relevance of information from the different levels of the value chain 18:28 - The role of materiality in identifying and disclosing value chain risks 21:19 - Where to start in gathering information for impact reporting 23:59 – Updates on implementation guidance from the European Financial Reporting Advisory Group (EFRAG) 29:07 - Key benefits companies can gain from value chain reporting 32:42 – Actions companies can take to improve the quality of value chain data during the CSRD transitional provision period 40:34 - Best practices to navigate uncertainty when preparing for final effectiveness of reporting Looking for more information on the CSRD and reporting requirements? Check out our publications Worldwide impact of CSRD - are you ready? and Take the next step - decide how to report under CSRD for further details. Additionally, follow this podcast on your favorite podcast app for future episodes in this CSRD spotlight miniseries, and subscribe to our weekly newsletter to get all of our thought leadership. Luca Bonaccorsi is a sustainability director at PwC based in Belgium. Prior to joining the firm, he previously served in ESG and sustainable finance roles, and had career experience in investment banking and investigative journalism. He is a co-author of the EU Taxonomy technical criteria, and serves as a member of the Sustainability Reporting Technical Expert Group (SRT) at EFRAG. 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 Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Dec 19, 2023

In each episode of our 2023 SEC comment letter trends series, our guests bring you the latest themes in comment letters from the SEC’s Division of Corporation Finance. This week, guest host Kevin Vaughn, a partner in PwC’s National Office, sat down with fellow PwC National Office partner Jay Seliber to discuss the latest trends in SEC comment letters on segment reporting and share insights on the FASB’s new segment reporting standard. In this episode, you’ll hear: 2:05 - An overview of the trends in comment letters related to segment reporting, including discussion of the identification of operating segments 6:37 - A discussion of aggregation of operating segments, including the significance of quantitative and qualitative characteristics analysis 11:57 - Insights on comments related to multiple measures of segment profit or loss 13:35 - A breakdown of new guidance under ASU 2023-07 Segment Reporting, including: 17:53 - Disclosure requirements of significant segment expenses 22:06 – Reporting multiple measures of segment profit or loss and the intersection with guidance on non-GAAP measures 30:20 - Considerations for single reportable segment entities 34:00 - Information regularly provided to the chief operating decision maker (CODM) 40:31 - Effective date and retrospective application of the new standard 42:09 - What’s ahead for segment reporting and best practices for enhancing disclosures Want to learn more? Check out our analysis of SEC comments on segment reporting . For further information on segment disclosures read our publication FASB updates segments guidance and our Financial statement presentation guide. Also follow this podcast on your favorite podcast app for more episodes in this comment letter series. Jay Seliber is a partner in PwC’s National Office. He leverages over 30 years of experience to help clients with their most complex accounting matters, particularly in the areas of mergers and acquisitions, revenue recognition, stock compensation, earnings per share, employee benefits, restructurings, impairments, and financing transactions. Jay is presently PwC's representative on the FASB's Emerging Issues Task Force. 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. Follow PwC’s accounting podcast on your favorite podcast app for future episodes in this SEC comment letter series, and subscribe to our weekly newsletter to get all of our thought leadership. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Dec 14, 2023

The European Union (EU) has ushered in a new era of sustainability reporting, as the Corporate Sustainability Reporting Directive (CSRD) is now effective. With impacts to both EU and non-EU headquartered companies, now is the time to understand the reporting requirements of this sweeping new regulation. Continuing our CSRD series, in this episode we discuss how the investor community views and benchmarks sustainability requirements. This week, host Heather Horn is joined by Claire Berthier, CEO of French asset management firm Trusteam Finance, to share her viewpoint on how companies can align their sustainability reporting and corporate strategy to meet investor needs. In this episode, you’ll hear: 3:35 - Background on why investors look for enhanced sustainability disclosures 10:11 - The explanation of strategy, mission, and other key initiatives in sustainability disclosures 19:52 - The importance of communications among investors, companies, and other stakeholders 32:22 - How the EU’s Green Taxonomy regulation data points support certain investor needs 37:13 - Converting ESG risk to opportunity 40:05 - Recommendations for companies that are early in their sustainability reporting journeys 45:22 - Key messages and themes that Claire believes investors want to hear from companies in their sustainability reporting Looking for more information on the CSRD and reporting requirements? Check out our publications Worldwide impact of CSRD - are you ready? and Take the next step - decide how to report under CSRD for further details. Additionally, follow this podcast on your favorite podcast app for future episodes in this CSRD spotlight miniseries, and subscribe to our weekly newsletter to get all of our thought leadership. Claire Berthier is the CEO of Trusteam Finance, an investment and asset management firm based in Paris, France. With a background in M&A investment banking and private equity, she currently focuses on responsible investing and has co-founded a social impact start-up. She regularly shares her financial and non-financial ESG analysis expertise with fellow investors. 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. Follow PwC’s accounting podcast on your favorite podcast app for future episodes in this SEC comment letter series, and subscribe to our weekly newsletter to get all of our thought leadership. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Dec 12, 2023

In each episode of our 2023 SEC comment letter trends series, our guests bring you the latest themes in comment letters from the SEC’s Division of Corporation Finance. This week, host Heather Horn is joined by PwC National Office partner Ryan Spencer to discuss the continued focus in SEC comment letters on Management’s Discussion and Analysis (MD&A) and share insights for preparers on how to avoid the common pitfalls. In this episode, you’ll hear: 0:52 - An overview of the trends in comment letters related to MD&A, including sector-specific insights 3:59 - A refresher on MD&A reporting requirements and a deep dive into comment letter themes, including: 5:04 - Insights on the concentration of comments related to disclosures on the results of operations and the need for forward-looking discussions 8:05 - The focus on performance metrics and their connection to corporate strategy 10:56 - The rise in comments related to management’s analysis and quantification of material fluctuations 12:45 - Why preparers need to evaluate current events and macroeconomic conditions 14:45 - Discussion of the focus on liquidity and capital resources disclosures, including near-term and long-term considerations 16:48 - Key reminders for critical accounting estimates and sensitivity disclosures 21:39 - Best practices for enhancing MD&A disclosures Want to learn more? Check out our analysis of SEC comments on MD&A , and follow this podcast on your favorite podcast app for more episodes in this comment letter series. Ryan Spencer is a partner at PwC's National Office specializing in SEC financial reporting. He has over 20 years of experience serving clients and is a frequent contributor to PwC’s publications and communications. 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. Follow PwC’s accounting podcast on your favorite podcast app for future episodes in this SEC comment letter series, and subscribe to our weekly newsletter to get all of our thought leadership. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Dec 5, 2023

In each episode of our 2023 SEC comment letter trends series, our guests bring you the latest themes in comment letters from the SEC’s Division of Corporation Finance. This week, host Heather Horn is joined by PwC Deputy Chief Accountant Beth Paul to discuss the rise in SEC comment letters on business combinations and share insights for preparers on how to avoid the common pitfalls. In this episode, you’ll hear: 2:35 - Insights into the increase in comment letters related to business combinations, including sector observations 6:34 - An overview of the themes and trends in comment letters related to business combinations 11:44 - A deep dive into SEC staff comments as well as reminders on disclosure and filing requirements, including significance tests and pro forma reporting 21:07 - A summary of comment letter trends related to fair value 23:22 - Considerations on goodwill impairment tests and market cap reconciliations 29:32 - Final advice for preparers dealing with business combinations Want to learn more? Check out our analysis of SEC comments on business combinations , as well as our Business combinations and Financial statement presentation guides. Also, listen to a previous podcast on business combination accounting. 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. 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. Follow PwC’s accounting podcast on your favorite podcast app for future episodes in this SEC comment letter series, and subscribe to our weekly newsletter to get all of our thought leadership. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Nov 30, 2023

The Task Force on Climate-related Financial Disclosures (TCFD) framework serves as a foundation for the major ESG disclosure frameworks, and also the basis for the California SB 261 climate disclosure rules recently signed into law. The UK first mandated reporting under the TCFD for listed companies beginning in 2021, and as such, there are two years of reports and insights available in 2023. In today’s podcast, host Heather Horn sat down with Mark O’Sullivan, PwC UK’s Head of Corporate Reporting, to discuss PwC’s review of the second year of mandatory TCFD reporting for certain companies in the UK, and how insights from this review can help companies looking to start or enhance their climate-related disclosures. In this episode, you’ll hear: 4:44 - Our review findings for year two of mandatory TCFD reporting in the UK 10:12 - Current challenges, including the understanding and expectation gaps faced by companies required to “comply or explain” 18:09 - Observations and trends by industry 24:01 - Key takeaways from year two for companies looking to start or enhance their own TCFD reporting 30:09 - Regulatory findings from the UK’s Financial Reporting Council (FRC) on metrics and targets 34:36 - What’s coming next for TCFD, and its relationship with other ESG frameworks that are becoming mandatory 39:39 - Discussion of materiality assessments and the FRC’s recent findings 44:30 - Advice for companies preparing for mandatory UK, California, or other ESG reporting rules Want to learn more about developments in ESG and TCFD? Read PwC UK’s publications, The green shoots of TCFD reporting , and Still early days: A review of year two of TCFD reporting , along with our previous podcast on how TCFD is shaping today’s reporting landscape . Additionally, refer to the FRC’s latest report on its reviews of TCFD disclosures, as well as the FRC Lab’s recent articles on materiality assessments and applications . Mark O’Sullivan is PwC UK’s Head of Corporate Reporting. He has more than 15 years of experience advising leading organizations on current and best practices in reporting and the implementation of new reporting strategies to meet the needs of the capital markets. Mark also oversees PwC’s annual review of corporate reporting practices in the FTSE 350. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Nov 28, 2023

In each episode of our 2023 SEC comment letter trends series, 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. In this episode, you’ll hear: 2:03 - An overview of comment letter themes related to revenue and a discussion of the prominence of revenue in financial reporting 6:53 - Key considerations in determining performance obligations and the significance of judgments made 14:19 - Insights on the continued focus on revenue estimates, including challenges related to recognizing variable consideration and determining standalone selling prices when estimates are embedded in transaction prices 20:46 - Common pitfalls with revenue disclosures 27:26 - Important reminders on principal-versus-agent considerations 30:54 - Sector-specific insights and trends and the value in competitor benchmarking 35:48 - Best practices for preparers on avoiding or responding to SEC staff comments on revenue Want to learn more? Check out our analysis of SEC comments on revenue , as well as our Revenue guide . Also, listen to a previous podcast on trends in revenue more broadly and read our guide on accounting for revenue. 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. 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. Follow PwC’s accounting podcast on your favorite podcast app for future episodes in this SEC comment letter series, and subscribe to our weekly newsletter to get all of our thought leadership. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Nov 22, 2023

The European Union (EU) has ushered in a new era of sustainability reporting, as the Corporate Sustainability Reporting Directive (CSRD) is now effective. With impacts to both EU and non-EU headquartered companies, now is the time to understand the reporting requirements of this sweeping new regulation. Continuing our CSRD series, this week we discuss the topic of “double materiality,” which represents the intersection between impact materiality and financial materiality. In this episode, Heather Horn is joined by Cécile Saint-Martin, PwC’s Global ESG Assurance Leader, to go over this critical element in determining the applicable impacts, risks, and opportunities, as well as extent of disclosures under CSRD. In this episode, you’ll hear: 3:09 - Lessons learned from legacy reporting under the Non-financial Reporting Directive (NFRD), the predecessor to CSRD 4:32 - Introduction to double materiality 10:17 - Examples of the double materiality assessment for specific topics 17:29 - The interplay between ESRS and other standards and the double materiality assessment 24:53 - Evaluation of double materiality with a governance and strategy lens 26:52 - Stakeholder considerations 31:28 - Steps for identifying material matters 39:24 - Advice on aggregating information for process disclosure and reporting purposes 44:09 - Next steps and recommendations for preparers Looking for more information on the CSRD and reporting requirements? Check out our publications Worldwide impact of CSRD - are you ready? and Take the next step - decide how to report under CSRD for further details. Additionally, follow this podcast on your favorite podcast app for future episodes in this CSRD spotlight miniseries, and subscribe to our weekly newsletter to get all of our thought leadership. Cécile Saint-Martin is PwC’s Global ESG Assurance Leader, leading the firm’s global initiative to deliver high quality and relevant assurance over ESG reporting. Based in France, she has executed assurance engagements on European corporations, and currently leads interpretation and implementation efforts on CSRD. Cécile has over 25 years of experience at PwC, also serving as an audit partner on global accounts within the Industry & Services sector. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Nov 21, 2023

In each episode of our 2023 SEC comment letter trends series, 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 Kevin Vaughn to discuss the SEC staff’s continued focus on non-GAAP measures, the area with the highest number of comments. In this episode, you’ll hear: 3:06 - The significance of non-GAAP measures and why they continue to be a focus area for the SEC 7:50 - Updates on new and amended compliance and disclosure interpretations (C&DIs) related to non-GAAP measures and their impact on comment letters 18:19 - Advice for preparers when responding to SEC staff comments 20:08 - Insights on pervasive comment letter themes, including: 20:27 - Undue prominence of non-GAAP measures 21:40 - Reconciliation of non-GAAP measures and the differentiation between recurring and non-recurring expenses 27:10 - Other top comment letter themes in non-GAAP comments, including nature of non-GAAP adjustments, disclosure requirements for non-GAAP measures, and labeling and identification of non-GAAP measures 35:23 - Recent enforcement actions related to non-GAAP measures 37:52 - Final advice on non-GAAP measures ahead to year-end reporting Want to learn more? Check out our analysis of SEC comments on non-GAAP measures and our publication on non-GAAP , which includes links to the updated C&DIs. 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 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. Follow PwC’s accounting podcast on your favorite podcast app for future episodes in this SEC comment letters series, and subscribe to our weekly newsletter to get all of our thought leadership. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Nov 16, 2023

The European Union (EU) has ushered in a new era of sustainability reporting, as the Corporate Sustainability Reporting Directive (CSRD) is now effective. With impacts to both EU and non-EU headquartered companies, now is the time to understand the reporting requirements of this sweeping new regulation. Continuing our CSRD series, this week we dive deeper into the EU’s “green” taxonomy regulation, which requires disclosure of certain metrics related to a company’s environmentally sustainable activities as early as 2024. In this episode, Heather Horn welcomes back PwC Germany senior manager Martin Schönberger to address common questions related to interpretation of the rules, eligibility of the activities, and calculation of the metrics as they apply to non-financial services companies. In this episode, you’ll hear discussion of: 2:32 - The evolution of EU green taxonomy reporting from the original two objectives to the current six 12:15 - Using the promulgated reporting templates as a tool to align activities to the taxonomy 19:29 - Timeline for assurance requirements 21:46 - “Eligible” versus “aligned” activities 25:27 - The importance of educating and involving the procurement function and value chain participants 33:10 - Challenges in reporting key performance indicators (KPIs) 38:09 - Potential pitfalls in disclosures related to planned and aligned activities for sustainable capital expenditures 50:02 - What’s coming next for taxonomy reporters Looking for more information on the EU Taxonomy? Check out the European Commission website for the official legislation and released delegated acts . For the basics on EU Taxonomy, listen to our earlier podcast episode, CSRD spotlight: Get up to speed on required EU taxonomy disclosures . Additionally, follow this podcast on your favorite podcast app for future episodes in this CSRD spotlight miniseries, and subscribe to our weekly newsletter to get all of our thought leadership, including an upcoming publication on EU sustainability regulations beyond the CSRD that impact non-EU companies, including the EU Taxonomy. Martin Schönberger is a senior manager in the National Office at PwC Germany, focusing on sustainability reporting. His work includes interpreting the latest regulations from European legislators and developing publications and trainings to communicate thought leadership to practitioners. Martin is also part of the Taxonomy Working Group, which coordinates technical issues regarding the EU Taxonomy within the PwC network. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Nov 14, 2023

With year-end reporting around the corner, we kick off our 2023 SEC comment letter trends series, in which our guests bring you the latest themes in comment letters from the SEC’s Division of Corporation Finance. This week, Heather Horn is joined by Kyle Moffatt, PwC National Office Professional Practice Leader, to share an overview of the 2023 comment letter trends, a breakdown of the SEC’s review process, and insights into the SEC staff’s key priorities. In this episode, you’ll hear: 2:01 - A breakdown of the SEC review process, including the staff’s current priorities, review timing, and key enforcement actions 18:28 - The impact of a potential government shutdown on the SEC’s review process and on the capital markets more broadly 22:43 - An overview of the the top SEC comment letter trends in 2023 29:14 - Insights into changes in the SEC’s priorities and volume of comment letters, updates on the climate disclosure proposal, and 2024 enforcement priorities 34:11 - Key insights into what preparers should focus on, including the importance of “Dear Issuer” letters and reminders for new rules that are effective in 2024 39:13 - Final advice for preparers entering the year-end reporting season Want to learn more? Check out our analysis of SEC comment letter trends . Additionally, follow PwC’s accounting podcast on your favorite podcast app for future episodes in this SEC comment letters series, and subscribe to our weekly newsletter to get all of our thought leadership. 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. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Nov 9, 2023

The European Union (EU) has ushered in a new era of sustainability reporting, as the Corporate Sustainability Reporting Directive (CSRD) is now effective. With impacts to both EU and non-EU headquartered companies, now is the time to understand the reporting requirements of this sweeping new regulation. Continuing our CSRD miniseries, this week we discuss the EU’s “green” taxonomy regulation, which requires disclosure of certain metrics related to a company’s environmentally sustainable activities. Under these rules, companies that are in the scope of CSRD will be further required to identify and disclose the extent of their operations that align with the promulgated classification of sustainable activities. In this episode, Heather Horn is joined by PwC Germany senior manager Martin Schönberger to discuss the essentials of the regulation, including an overview of sustainable activities, how to determine whether activities are “aligned” with environmentally sustainable objectives, and disclosure requirements. In this episode, you’ll hear discussion of: 2:54 - Context of and impetus for the regulation 5:11 - Scoping criteria 8:34 - Identifying sustainable activities, qualifying conditions, and underlying objectives 15:57 - The importance of considering whether your company engages in eligible activities, regardless of what sector your business is in 18:39 - How to consider the “substantial contribution” and “do no significant harm” criteria in aligning activities with the taxonomy 29:13 - Disclosure requirements, including reporting of KPIs (i.e., green net turnover, green capital expenditures, green operating expenses) 47:04 - Where companies should start on their journey to compliance with the taxonomy regulation Looking for more information on the EU Taxonomy? Check out the European Commission website for the official legislation and released delegated acts . For a refresher on CSRD scoping requirements, take a listen to our earlier podcast episode, CSRD spotlight: Updates and essentials for preparers , as well as our publication Worldwide impact of CSRD - are you ready? Additionally, follow this podcast on your favorite podcast app for future episodes in this CSRD spotlight miniseries, and subscribe to our weekly newsletter to get all of our thought leadership, including an upcoming publication on EU sustainability regulations beyond the CSRD that impact non-EU companies, including the EU Taxonomy. Martin Schönberger is a Senior Manager within the National Office at PwC Germany, focusing on sustainability reporting. His work includes interpreting the latest regulations from European legislators, and developing publications and trainings to communicate thought leadership to practitioners. Martin is also part of the Taxonomy Working Group, which coordinates technical issues regarding the EU Taxonomy within the PwC network. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Nov 8, 2023

With increasing costs of living and an unpredictable economic environment, the concept of paying a “living wage” is gaining attention from businesses and governments around the world. As pay adequacy becomes a mandated disclosure for many companies via the European Union’s Corporate Sustainability Reporting Directive (CSRD), paying a living wage is becoming a growing priority for organizations that are focused on creating a sustainable business. PwC recently published the inaugural Global Living Wage survey to provide deeper insights on this topic and its impact to businesses. In this episode, host Heather Horn welcomes PwC partners Barry Murphy and Paula Letorey to discuss the survey results, market trends, and key steps organizations should take now to prepare for market and regulatory movement. In this episode, you’ll hear discussion of: 4:43 - Why PwC conducted the Global Living Wage survey 7:13 - Defining a “living wage” 9:45 - Key findings from the survey 17:01 - Common challenges to adopting a living wage 22:28 - The relationships among living wage, workplace fairness, and pay equity 24:58 - Reporting and disclosure considerations 28:47 - The impact of suppliers and the value chain 31:19 - What investors are looking for in living wage strategy and disclosures 36:35 - The role of the finance team in supporting and engaging with the business on this topic For our findings and takeaways on the survey, check out our publication, Living Wage: An Emerging Standard . Further, check out PwC UK’s Workforce Hopes and Fears Survey for more insights on workforce transformation, trends, and disruptors, and how business leaders are navigating its changing nature. Barry Murphy is PwC’s Global ESG leader for Tax and Legal Services. Based in the UK, he has 20 years of experience advising clients on their domestic and international tax affairs. He is also focused on driving compliance solutions with a “digital first” approach. Paula Letorey is a partner within PwC UK’s Workforce practice. She has over 15 years of experience advising clients on matters relating to employment taxes and broader pay governance and regulation. She has developed robust risk management solutions for areas such as domestic employment tax on a global basis, off-payroll working, national minimum wage, and holiday pay. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Nov 7, 2023

As the end of the year approaches, it is helpful to understand what is top of mind under International Financial Reporting Standards (IFRS) and what lies ahead from the International Accounting Standards Board (IASB). In this episode, Heather Horn was joined by Gary Berchowitz, a leader in PwC’s Global Assurance Quality - Corporate Reporting Services group, and Laura Kennedy, a director in the Corporate Reporting Services group, to discuss key reminders for year-end reporting under IFRS as well as some timely updates on new IFRS initiatives on the horizon. In this episode, you’ll hear: 2:37 - An overview of the current status of IFRS Accounting Standards and what’s to come, including: 4:29 - A breakdown of IFRS 17, Insurance Contracts, which became effective in 2023 and applies to non-insurers as well as insurers 5:50 - New amended requirements for currency transactions 8:10 - The global political and economic outlook and its impact on reporting, including assumptions for accounting determinations such as impairments 13:12 - Status of other IFRS Accounting Standards updates and what to expect in 2024: 15:40 - Primary Financial Statements 17:15 - Management Performance Measures 20:16 - Retrospective reporting and restatement reconciliation requirements if a new standard is adopted 23:46 - A discussion of the interconnectedness between sustainability and financial reporting, and coordinated standard setting by both the IASB and International Sustainability Standards Board (ISSB) 30:18 - Details on sustainability projects impacting the financial services sector, including accounting for loans and power purchase agreements for renewable energy 37:34 - Other IASB priorities and initiatives on the horizon For more on IFRS 17, check out our publication . Additionally, refer to our global IFRS accounting reminders , refreshed quarterly. Lastly, follow our PwC sister podcast IFRS Talks for more insights on IFRS topics. Gary Berchowitz is the non-financial instruments leader in PwC’s Global Assurance Quality - Corporate Reporting Services group. Gary brings nearly 20 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. Laura Kennedy is a director in PwC’s Global Assurance Quality - Corporate Reporting Services group. She also serves as the host of the global PwC IFRS Talks podcast. Prior to joining PwC, Laura was a technical staff member at the International Accounting Standards Board, focusing on topical issues impacting corporate reporting. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Nov 2, 2023

The European Union (EU) has ushered in a new era of sustainability reporting, as the Corporate Sustainability Reporting Directive (CSRD) is now effective. With impacts to both EU and non-EU headquartered companies, now is the time to understand the reporting requirements of this sweeping new regulation. Continuing our miniseries focused on the essentials of the CSRD, this week we discuss options a company may have in its approach to reporting. In this episode, Heather welcomes back Emily Kirsch, director in PwC’s sustainability practice, to share practical considerations in a company’s determination of the most effective reporting approach for its organization. In this episode, you’ll hear discussion of: 5:03 - Scope requirements under the CSRD 7:37 - Available reporting exemptions 11:46 - Initial considerations for deciding the level of reporting, and whom to involve 16:19 - How to consider data availability, IT systems, and organizational structure 23:27 - Timing of reporting deadlines and phase-in reliefs for smaller companies 26:18 - How existing voluntary reporting may be insufficient to meet CSRD requirements 30:28 - Alignment between sustainability reporting, corporate strategy, and stakeholder communications 34:07 - Key next steps in making a reporting decision, including the importance of evaluating benefits and trade-offs Looking for more information on the CSRD and reporting requirements? Check out our publications Worldwide impact of CSRD - are you ready? and Take the next step - decide how to report under CSRD for further details. Additionally, follow this podcast on your favorite podcast app for future episodes in this CSRD spotlight miniseries, and subscribe to our weekly newsletter to get all of our thought leadership, including an upcoming publication on EU sustainability regulations beyond the CSRD that impact non-EU companies, including the EU Taxonomy. Emily Kirsch is a director in PwC's sustainability practice focused on sustainability reporting and standard setting in the EU. She advises both public and private companies in navigating complex accounting and financial reporting topics during periods of change in an organization. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Oct 31, 2023

Continuing our October all-star series, Tom Barbieri, PwC US Chief Accountant, shares insights on the financial reporting ecosystem and how to stay engaged amid ongoing developments in the landscape. Tom is joined by Kevin Vaughn, PwC National Office partner, and Ying Compton, PwC managing director, to unpack the financial reporting ecosystem, including the key players, how they work together, and the critical role they play in the capital markets. In this episode, you’ll hear: 4:58 - An overview of the key players in the financial reporting ecosystem and their significance to the investor-driven reporting mission 11:28 - How standard setting, application, and enforcement drive the US reporting environment 13:22 - The roles and composition of both the SEC and the FASB 17:44 - Interaction between the SEC and FASB and the opportunities for preparers to collaborate with each 21:34 - Why preparers should pay attention to PCAOB developments 23:35 - A comparison of the rule-making processes across standard-setters and regulators, including the balance between high-quality reporting and its associated costs 30:14 - Final advice for preparers on engaging with other players in the ecosystem to enhance reporting quality and efficiency Tom Barbieri is PwC’s US Chief Accountant. He has over 30 years of experience advising large financial services and multinational corporations on complex accounting issues. Tom leads the Accounting & SEC Services Group within the National Office, which is focused on supporting our clients and engagement teams in navigating complex technical accounting and financial reporting matters. He is also a member of the Financial Accounting Standards Advisory Council. 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. Ying Compton is a PwC managing director in the office of the vice chair. Prior to joining PwC, Ying was a senior accounting and economic advisor in the Office of the Chief Accountant (OCA) at the SEC. She also holds a PhD in accounting from Massachusetts Institute of Technology (MIT). 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Oct 26, 2023

The European Union (EU) has ushered in a new era of sustainability reporting, as the Corporate Sustainability Reporting Directive (CSRD) became effective in January 2023 and the European Sustainability Reporting Standards (ESRS) are now final. With impacts to both EU and non-EU headquartered companies, now is the time to understand the applicability and scope of these reporting requirements. To launch our podcast miniseries on the CSRD, host Heather Horn is joined by Emily Kirsch, director in PwC’s sustainability practice, and Soné Beyers, director in PwC’s National Office, to provide a refresher course on the basic requirements and applicability of the EU’s sweeping sustainability reporting directive. In this episode, you’ll hear discussion of: 4:04 - Background and latest developments on the CSRD 12:54 - The final set of 12 ESRS, which will be effective starting in 2024 15:36 - What companies are within the scope of the CSRD and required to follow ESRS 21:32 - Key dates for CSRD effectiveness, scoping threshold applicability, and required reporting 26:30 - Additional reporting requirements for non-EU parents of an EU subsidiary 28:55 - Available reporting exemptions 34:59 - Potential impacts from the ongoing transposition of the directive into member state laws 37:35 - Recent developments regarding ESRS implementation guidance and forthcoming sector-specific standards from the European Financial Reporting Advisory Group (EFRAG) 46:06 - Interoperability of other reporting frameworks and key takeaways Looking for more information on the CSRD and other sustainability reporting frameworks? Check out our publications Worldwide impact of CSRD - are you ready? and Navigating the ESG landscape for further details. Additionally, follow this podcast on your favorite podcast app for future episodes in this CSRD spotlight series, and subscribe to our weekly newsletter to get all of our thought leadership, including an upcoming publication on EU sustainability regulations beyond the CSRD that impact non-EU companies, including the EU Taxonomy. Emily Kirsch is a director in PwC's sustainability practice focused on sustainability reporting and standard setting in the EU. She advises both public and private companies in navigating complex accounting and financial reporting topics during periods of change in an organization. Soné Beyers is a director in PwC’s National Office with accounting experience in both professional services and academia. With a career spanning three continents, she has developed a strong background in IFRS reporting, which has extended to her current focus on global sustainability frameworks and standard setting in the EU. 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 ava Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Oct 25, 2023

Assessing whether a company is in scope of the European Union (EU) Corporate Sustainability Reporting Directive (CSRD) has some inherent complexities. The scope of companies directly impacted is expansive — including US and other non-EU headquartered companies — making scoping a question that merits priority focus by companies with operations in the EU. A company may have options in its approach to fulfilling its CSRD reporting requirements, and there are practical considerations that may inform a company’s determination of the most effective reporting approach for its organization under the CSRD. In this episode, Heather Horn brings you an audio version of our In the loop publication discussing these scoping and reporting approaches under the CSRD. In this podcast, you’ll hear: 1:15 - Background and introduction 4:52 - Four steps to decide on how to report 9:20 - What is the scope of reporting obligations, and are there any exemptions? 13:35 - What information needs to be gathered? 26:32 - What is the timing of reporting? 29:27 - How do CSRD reporting requirements relate to other expected sustainability standards? 38:02 - How does corporate strategy and objectives interplay with reporting? 41:50 - What are pros and cons between some of the common reporting scenarios? 47:07 - What’s next? Refer also to the print version, Take the next step - decide how to report under CSRD . Also, join our upcoming Q4 2023 Quarterly sustainability webcast . 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Oct 19, 2023

As effective dates for sustainability reporting requirements inch closer, companies face pressure to stand up reporting workstreams before it is too late. With multiple frameworks coming into play in the near term, managing the data gathering, aggregation, and reporting of numerous metrics is a manual exercise for many companies. But is there technology that can help? In today’s episode, host Heather Horn is 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. Sammy provides insights on how companies can leverage the power of technology to generate value that goes beyond compliance. In this episode, you’ll hear discussion of: 4:02 - Expected impacts of the shift from voluntary to mandatory ESG reporting 7:47 - The current landscape of sustainability reporting technology solutions 10:29 - A roadmap for digital transformation, including the sequencing of events, and which stakeholders to involve 16:04 - The importance of controllership and governance over reporting 26:32 - Harnessing technology investments to report and provide value through data analytics 36:14 - Using technology to capture, aggregate, and organize data for different reporting frameworks 42:36 - Crowdsourcing ideas from peers and partners to address similar challenges 45:34 - Three things companies should consider to maximize technology enablement for sustainability reporting Looking for more information on getting ready for mandatory ESG reporting? Check out our publication, Preparing for tomorrow's rules today . Additionally, refer to our Navigating the ESG landscape publication for the latest updates on major global sustainability frameworks. Sammy Lakshmanan is a principal in PwC’s Sustainability Consulting Solutions practice. With over 20 years of experience helping companies shape their ESG and sustainability strategies leveraging technology and data to operationalize sustainability, he helps customers develop and execute strategies to shift from a compliance-driven to a value-driven approach. Sammy also serves as co-chair for the Open Footprint Forum, which is developing a data standard for carbon-management data. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Oct 17, 2023

New York City Climate Week brings together international business leaders, policymakers, and other civic leaders to help drive progress and speed transition on climate-related issues. This year’s event highlighted the sustainability advancements made over the past year – with a look ahead to the actions companies need to take next to prepare for net zero. This week, host Heather Horn is joined by Will Jackson-Moore, PwC’s Global Sustainability Leader, to discuss some of the bigger themes that emerged from the week, from energy transition and demand reduction to the impact of emerging sustainability reporting regimes around the world. In this episode, you’ll hear discussion of: 3:04 - An overview of the current sustainability landscape and the challenges that companies face with decarbonization 8:00 - The relative priority companies are assigning to climate actions and progress 10:32 - How organizations are executing strategic planning and reporting on climate 15:44 - The time runway for companies to transform their businesses and assets for resilience 22:13 - The role of reporting in driving climate action 26:09 - The evolving prominence of the chief sustainability officer role 34:38 - How meaningful demand reduction progress can be made by embedding energy efficiency in strategy beginning with the C-suite Looking for more information on sustainability strategy and reporting? Check out our previous podcasts on TNFD , CSRD , and the sustainability expectation gap in reporting . Will Jackson-Moore is PwC’s Global Sustainability Leader, responsible for leadership of our sustainability teams, technology, alliances, and methodologies. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Oct 12, 2023

As companies move forward with clean energy investments and decarbonization projects, many face questions about which of these projects qualify for tax incentives under the Inflation Reduction Act (IRA), and how best to utilize the act’s credits and other green initiatives. In today’s episode, Heather Horn welcomes back Matt Haskins, PwC principal, to discuss the latest IRS guidance for IRA initiatives, marketplace transactions, and further considerations for companies looking to take advantage of the IRA. In this episode, you’ll hear discussion of: 5:06 - Advanced energy project credits under IRS Section 48C, and the status of the current allocation of the $10 billion budgeted pool 9:09 - Transferability and timing considerations of tax credits 12:07 - Choosing between investment tax credits and production tax credits 14:55 - Risk of recapture of paid tax credits and relevant mitigating strategies 23:53 - How a government shutdown would impact IRA initiatives 27:59 - Market developments in the hydrogen production tax credit 33:07 - The interplay between the IRA and European Union regulations, including the impact of the Carbon Border Adjustment Mechanism (CBAM) 36:05 - The importance of evaluating decarbonization costs on an after-tax basis Looking for more information on the European Union’s Carbon Border Adjustment Mechanism? Check out our previous podcast on how the CBAM may impact your company . Looking for more information on transferability of IRA credits? Check out our latest publication on accounting for IRA credits and our podcast on renewable energy credits for more information. Matt Haskins is a principal in PwC’s Washington National Tax Services, where he leads the firm's Cleantech tax practice, 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Oct 10, 2023

Continuing our October all-star series, Tom Barbieri, PwC US Chief Accountant, shares insights on critical accounting and reporting topics. Tom is joined by Nick Milone, a PwC practice partner with experience advising clients on hedging strategies, to discuss effective hedging strategies for various types of macroeconomic and business risks. In this episode, you’ll hear: 2:47 - An overview of the theory and purpose of hedge accounting 6:04 - Initial considerations for applying hedge accounting, including an overview of the effectiveness assessment 10:07 - A breakdown of the three most common hedge strategies and why companies might use them 10:21 - Cash flow hedges 12:23 - Fair value hedges 14:33 - Net investment hedges 17:49 - Common examples of and questions related to hedging strategies 22:02 - Common pitfalls in applying hedge accounting 27:57 - An overview of other hedging strategies, their purpose and how to use them 28:04 - Forecasted debt issuance hedges 35:29 - Foreign currency hedges 39:04 - Hedging strategies for companies with foreign subsidiaries 42:42 - Commodity hedges 47:05 - Hedging strategies that do not qualify for hedge accounting 50:22 - Final reporting considerations and key reminders for companies using hedge accounting For more information, read our Derivatives and hedging guide. Tom Barbieri is PwC’s Chief Accountant. He has over 30 years of experience advising large financial services and multinational corporations on complex accounting issues. Tom leads the Accounting & SEC Services Group within the National Office, which is focused on supporting our clients and engagement teams in navigating complex technical accounting and financial reporting matters. He is also a member of the Financial Accounting Standards Advisory Council. Nick Milone is a partner in PwC’s Financial Markets practice, and formerly a practice fellow at the Financial Accounting Standards Board (FASB), with a wealth of experience advising clients on structured transactions, derivatives and hedging activities, transfers of financial assets, securitizations, financings, investments, valuation and other issues. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Oct 5, 2023

The Taskforce on Nature-related Financial Disclosures (TNFD) released its final disclosure recommendations for nature-related dependencies, impacts, risks and opportunities on September 18. Given the interrelationship between climate and nature — and the dependence of business on nature — companies may want to consider this new framework as a tool in communicating their full sustainability story. This week, Heather Horn is joined by Daniel O’Brien, PwC Canada’s Sustainable Business Solutions leader and TNFD member, to discuss what companies should do now to prepare to make effective nature-related disclosures. In this episode, you’ll hear discussion of: 4:18 - Background on the TNFD, including how the taskforce was formed and its mission 8:11 - The key principles of the TNFD framework and interoperability of the TCFD framework with existing climate reporting frameworks 13:36 - Complexities in critical areas of the TNFD framework 20:08 - Recommendations for how companies should approach TNFD disclosures 29:29 - How companies should approach data collection for qualitative and quantitative nature disclosures 31:10 - Best practices and common pitfalls in reporting nature-related disclosures 37:33 - Final thoughts on why companies should consider utilizing the TNFD framework Looking for more information on nature related reporting? Check out a podcast from our “Becoming nature positive” series on Committing, measuring, and reporting . Daniel O'Brien is PwC Canada’s Sustainable Business Solutions leader, helping clients to align their business strategies with the environmental and social challenges and opportunities of the future economy. Daniel has over 18 years of experience in environmental consulting and management. He is also a member of the Taskforce on Nature-related Financial Disclosures (TNFD). 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Sep 14, 2023

In today’s episode, sustainability and financial reporting intersect. We discuss accounting for green incentives that arise from the Inflation Reduction Act (IRA). The IRA, signed into law in August 2022, provides climate and clean energy tax credits. With many types of credits available in the IRA, companies have raised questions about the financial accounting implications of the credits given the unique features that these credits have compared to past federal incentives. This week, Heather Horn is joined by Pat Durbin, a Deputy Chief Accountant in PwC’s National Office, and Jillian Pearce, a partner in our utilities practice, both of whom have closely followed accounting for the credits, to discuss what to look out for in accounting for IRA tax credits. In this episode, you’ll hear discussion of: 2:38 - The background, including the breadth, scope, and structure of available IRA credits 7:45 - The different pathways to realization of tax credits 11:45 - How companies should allocate consideration paid for IRA credits 17:07 - The difference between renewable energy credits (RECs) and IRA credits 24:32 - Accounting for tax credits by analogy to IAS 20, Accounting for Government Grants and Disclosure of Government Assistance 43:16 - Accounting for tax credits using under the ASC 740, Income Taxes , model 56:44 - Tax credit disclosure and control considerations Looking for more information on accounting for IRA energy incentives? Check out our latest publication on IRA credits. Additionally, check out our podcast episode on renewable energy credits for more information. 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. Jillian Pearce is a partner in PwC's National Office, providing advice on financial instruments and other technical accounting issues to power and utilities clients. She was a Professional Accounting Fellow in the Office of the Chief Accountant at the SEC, and has over 15 years of auditing experience. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Aug 29, 2023

Every Tuesday in August, Bret Dooley, Deputy Chief Accountant in PwC’s National office, is taking over the podcast to share insights on financial instruments hot topics. In each 25-minute episode, Bret will discuss 5 things you need to know. In this episode, Bret is joined by John Horan, a managing director in PwC’s National office with a focus on financial instruments, to break down what we need to know on earnings per share (EPS). In this episode, you’ll hear: 2:20 - Reminders on the basic EPS calculation, including considerations for participating securities and application of the the two-class method 11:45 - The impact of mezzanine equity on the basic EPS calculation 15:12 - The impact of new FASB guidance (ASU 2020-06) on EPS calculations for contracts that can be settled in cash or shares 20:01 - Complexities in the dilution calculation for liability-classified warrants and convertible debt with bifurcated conversion options 21:48 - Why companies should evaluate repurchased convertible instruments separately For more information, read chapter 7 of our Financial statement presentation guide. Additionally, check out a prior podcast in this mini series. 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. 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. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Aug 22, 2023

Every Tuesday in August, Bret Dooley, Deputy Chief Accountant in PwC’s National office, is taking over the podcast to share insights on financial instruments hot topics. In each 25-minute episode, Bret will discuss 5 things you need to know. In this episode, Bret is joined by Chip Currie, another partner in PwC’s National office with a focus on financial instruments, to discuss convertible instruments and the impacts of updated accounting guidance in this area. In this episode, you’ll hear discussion of: 1:38 - Why companies use convertible instruments and the complex financial decisions accompanying their use 6:38 - The impact of new accounting guidance for convertible instruments in ASU 2020-06 9:49 - Key information when accounting for induced conversions 12:10 - Down round provisions in equity-linked instruments 19:27 - Judgments involved in determining whether to separate the conversion option and account for it as an embedded derivative For more information, read chapter 6 of our Financing transactions guide and chapter 3 of our Derivatives and hedging guide. Additionally, check out a prior podcast in this mini series. Chip Currie is a partner in PwC’s National office with over 25 years of experience assisting companies in resolving complex business and accounting issues. He concentrates on the accounting for financial instruments under both current and emerging standards and works with many of the firm's largest financial services clients and a number of non-financial services clients on treasury-related matters. 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. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Aug 15, 2023

Every Tuesday in August, Bret Dooley, Deputy Chief Accountant in PwC’s National office, is taking over the podcast to share insights on financial instruments hot topics. In each 25-minute episode, Bret will discuss 5 things you need to know. In this episode, Bret shares insights on the current expected credit loss model, or CECL, and why it’s not just for banks. All companies, regardless of industry, need to understand the requirements. In this episode, you’ll hear: 1:50 - A refresher on CECL 3:34 - Insights on the impacts of CECL across industries 7:03 - A discussion of how to apply CECL to various asset classes, considerations on estimation methodologies, and why companies should seek continuous improvement in the application of CECL 9:32 - Key information to consider when preparing CECL disclosures 11:22 - How subsequent events could impact CECL estimates 20:43 - An overview of the FASB’s exposure draft that proposes changes to the accounting for purchased credit deteriorated assets For more information, read chapter 7 of our Loans and investments guide. Additionally, check out the prior podcast in this mini series. Bret Dooley is a Deputy Chief Accountant in PwC’s National office and 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. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Aug 8, 2023

Every Tuesday in August, Bret Dooley is taking over the podcast to share insights on financial instruments hot topics. In each episode, Bret will discuss 5 things you need to know in 25 minutes. To kick off the series, Bret shares insights on accounting for investment securities, a topic of recent headlines. He breaks down the complexities of held-to-maturity and available-for-sale securities, and touches on foreign currency bonds. In this episode, you’ll hear discussion of: 2:05 - Key reminders for identifying and accounting for debt securities 6:32 - Accounting for held-to-maturity (HTM) securities and the long-term implications of HTM designation 12:30 - Tips on accounting for unrealized losses on available-for-sale (AFS) securities 17:18 - An overview of accounting for foreign currency bonds 19:25 - Complexities in the application of the measurement alternative model for equity securities For more information, read chapters 2 , 3 , and 8 of our Loans and investments guide. Bret Dooley is a Deputy Chief Accountant in PwC’s National office and 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. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Aug 1, 2023

Every Tuesday in July, Jay Seliber is taking over the podcast to share insights on business combinations, which are often significant events in a company’s life cycle. Jay takes us on a journey through a deal, beginning with the complexities of the overall acquisition accounting model, then diving into some of the more complex areas—identifying the accounting acquirer, accounting for contingent consideration, and reporting with the SEC. To continue the series, Heather and Jay are joined by Ryan Spencer, a PwC National office partner who specializes in SEC reporting, to break down the SEC filing requirements for business combinations, including the application of significance tests used to determine the reporting requirements. In this episode, you’ll hear: 2:02 - A breakdown of the SEC filing requirements for business combinations 7:10 - A discussion of significance tests and how they help to determine filing requirements 17:36 - A summary of financial statement requirements, including considerations on timing and the age of financial information 23:38 - An overview of the unique guidelines for a company filing (1) a new registration statement, (2) transactional proxy statements, and (3) reverse-merger information 32:30 - A summary of pro forma reporting requirements, including timing considerations 43:36 - The distinction between the SEC and US GAAP disclosure requirements 47:06 - Final advice for companies navigating the filing requirements for a business combination For more information, read chapter 17 of our Financial statement presentation guide and the SEC Financial Reporting Manual . Also check out the prior podcast in this miniseries on business combinations. Jay Seliber is a partner in PwC’s National office. He leverages over 30 years of experience to help clients with their most complex accounting matters, particularly in the areas of mergers and acquisitions, revenue recognition, stock compensation, earnings per share, employee benefits, restructurings, impairments, and financing transactions. Jay is presently PwC's representative on the FASB's Emerging Issues Task Force. Ryan Spencer is a partner at PwC's National office specializing in SEC financial reporting. He has over 20 years of experience serving clients and is a frequent contributor to PwC’s publications and communications. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jul 27, 2023

Sustainability disclosure regulations around the world are evolving rapidly, and as this reporting begins to proliferate, so does the potential for a mismatch between the expectations of investors and other stakeholders compared with the reality of what’s actually happening. Are there expectation gaps in sustainability reporting, and if so, what are they? This week, Heather Horn was joined by Gilly Lord, PwC’s Global Leader for Public Policy and Regulatory Affairs, to discuss the current global regulatory landscape, the evolving sustainability reporting ecosystem, and the importance of regulators and other ecosystem participants finding common ground in the areas that matter most for reliable sustainability reporting. In this episode, you’ll hear discussion of: 2:20 - Sustainability expectation gaps - what are they? 14:24 - How the breadth of sustainability reporting is partially responsible for expectation gaps 25:50 - How assurance standards are evolving, and what elements of future standards may help to address expectation gaps 30:00 - The importance of regulatory oversight, independence, and quality management in sustainability accounting, reporting, and assurance 30:37 - Key considerations when adopting sustainability reporting frameworks 48:04 - How companies can participate in shaping the global sustainability regulatory landscape Looking for more information on global ESG reporting? Check out our latest podcast and publication on what’s inside the final ISSB standards. Gilly Lord is PwC’s Global Leader for Public Policy and Regulatory Affairs. Based in the UK, she has over 20 years of experience advising clients on the application of regulation and liaising with regulators in jurisdictions around the world. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jul 25, 2023

Every Tuesday in July, Jay Seliber is taking over the podcast to share insights on business combinations, which are often significant events in a company’s life cycle. Jay takes us on a journey through a deal, beginning with the complexities of the overall acquisition accounting model, then diving into some of the more complex areas—identifying the accounting acquirer, accounting for contingent consideration, and reporting with the SEC. To continue the series, Heather and Jay are joined by Chip Currie, another partner in PwC’s National Office, to share insights on the intersection between contingent consideration and acquisition accounting, as well as the key decision points in the multi-step accounting model. In this episode, you’ll hear: 2:25 - An overview of the accounting framework for contingent consideration arrangements from the buyer’s perspective, including: 7:01 - The criteria for meeting the definition of contingent consideration 12:04 - An assessment of whether the arrangement is part of the purchase price 16:03 - A discussion of common pitfalls in the performing the assessment 23:19 - An analysis of the accounting for contingent consideration arrangements classified as compensation expense 24:25 - A discussion of the multi-step analysis of contingent consideration arrangements that is not classified as compensation expense, including: 24:38 - Liability-classified contingent consideration and applying the liability versus equity accounting model 29:59 - Equity-classified contingent consideration and applying the derivative accounting model 41:56 - An overview of the impact of contingent consideration on earnings per share and the statement of cash flows 48:40 - Final advice for clients dealing contingent consideration in a business combination For more information, read chapters 2 and 3 of our Business combinations guide, chapter 5 of our Financing guide, and chapters 6 and 7 of our Financial statement presentation guide. Additionally, check out a prior podcast in this miniseries. Jay Seliber is a partner in PwC’s National office. He leverages over 30 years of experience to help clients with their most complex accounting matters, particularly in the areas of mergers and acquisitions, revenue recognition, stock compensation, earnings per share, employee benefits, restructurings, impairments, and financing transactions. Jay is presently PwC's representative on the FASB's Emerging Issues Task Force. Chip Currie is a Partner in PwC’s National Office with over 25 years of experience assisting companies in resolving complex business and accounting issues. He concentrates on the accounting for financial instruments under both current and emerging standards and works with many of the firm's largest financial services clients and a number of non-financial service clients on treasury-related matters. Transcripts Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jul 18, 2023

Every Tuesday in July, Jay Seliber is taking over the podcast to share insights on business combinations, which are often significant events in a company’s life cycle. Jay takes us on a journey through a deal, beginning with the complexities of the overall acquisition accounting model, then diving into some of the more complex areas—identifying the accounting acquirer, accounting for contingent consideration, and reporting with the SEC. To continue the series, Heather and Jay are joined by Matt Sabatini to share insights on the identification of the accounting acquirer, a key judgment that impacts the remaining accounting conclusions in the acquisition model. In this episode, you’ll hear: 1:46 - A discussion of the importance of determining the account acquirer as the starting point, and the downstream implications of that determination 3:50 - An overview of the accounting framework from the acquirer’s perspective and the intersection with consolidation standards 6:18 - Insights on performing a control assessment and a discussion of key indicators of control 17:30 - Accounting for the newco created as a result of a business combination 25:01 - The distinction between the legal acquirer versus accounting acquirer, including the financial reporting implications of that distinction, and the complexities of “reverse mergers” 34:40 - Final advice for clients dealing with business combinations For more information, read chapter 2 of our Business combinations guide. Additionally, check out our prior podcasts on the VIE accounting model and the prior podcast in this miniseries. Jay Seliber is a partner in PwC’s National office. He leverages over 30 years of experience to help clients with their most complex accounting matters, particularly in the areas of mergers and acquisitions, revenue recognition, stock compensation, earnings per share, employee benefits, restructurings, impairments, and financing transactions. Jay is presently PwC's representative on the FASB's Emerging Issues Task Force. 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, corporate reorganizations, recapitalizations, joint ventures, and other investments. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jul 13, 2023

The International Sustainability Standards Board (ISSB) issued final IFRS® Sustainability Disclosure Standards on June 26, 2023. While IFRS Sustainability Disclosure Standards are not yet required in any jurisdiction, multiple jurisdictions around the world have already signaled their intent to adopt the new standards, with additional jurisdictions expected to do so now that the standards are final. What can companies find inside the new Sustainability Disclosure Standards? This week, Heather Horn was joined by Katie Woods, PwC UK director, to discuss the expected breadth of adoption internationally and the important considerations in advance of adoption. In this episode, you’ll hear discussion of: 1:48 - The final IFRS Sustainability Disclosure Standards: IFRS S1 and IFRS S2 7:06 - The current status of adoption of the Sustainability Disclosure Standards in international territories 11:43 - The interconnectivity between IFRS Sustainability Disclosure Standards and IFRS Accounting Standards 19:12 - Key changes between the exposure drafts and the final standards 26:42 - Factors to consider when identifying and disclosing sustainability risks and opportunities 38:35 - Final advice for companies looking to prepare for adoption of these standards Looking for more information on the ISSB and ESG reporting? Check out our podcast with ISSB Vice-Chair Sue Lloyd on the launch of the final ISSB standards . For more on the final standards, read our In brief . Katie Woods is a Director in PwC's Global Accounting Consulting Services group and advises on ESG and international accounting standards. Katie specializes in the new and emerging ESG reporting frameworks, working across the PwC Network. Katie is a frequent speaker on a range of ESG and accounting topics at national and international seminars. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jul 11, 2023

Every Tuesday in July, Jay Seliber is taking over the podcast to share insights on business combinations, which are often significant events in a company’s life cycle. Jay takes us on a journey through a deal, beginning with the complexities of the overall acquisition accounting model, then diving into some of the more complex areas— identifying the accounting acquirer, accounting for contingent consideration, and reporting with the SEC. To kick off the series, Jay shares insights on the foundations of acquisition accounting, including key areas of judgment in the model. In this episode, you’ll hear discussion of: 1:58 - The importance of understanding acquisition accounting, even in times of low deal volume 3:50 - The foundational accounting considerations for business combinations, including the determination of which transactions qualify as business combinations, and the implications on the control assessment 8:04 - The acquisition method, including how to account for the various forms of consideration exchanged in a transaction 12:40 - The complexities involved in step acquisitions and partial acquisitions as well as their impact on the application of acquisition accounting 17:46 - Insights on the measurement of assets and liabilities acquired in a business combination 21:24 - The measurement and allocation of goodwill acquired in a business combination, including tips for bookkeeping of goodwill 29:43 - Reminders related to measurement period and conforming accounting policies 38:17 - Final advice for getting prepared and dealing with a live deal For more information, read our Business combinations guide and listen to our prior podcast on disclosures required in business combinations . Additionally, refer to our In the loop on the impact of acquiring an asset vs. a business. Jay Seliber is a partner in PwC’s National office. He leverages over 30 years of experience to help clients with their most complex accounting matters, particularly in the areas of mergers and acquisitions, revenue recognition, stock compensation, earnings per share, employee benefits, restructurings, impairments, and financing transactions. Jay is presently PwC's representative on the FASB's Emerging Issues Task Force. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jul 6, 2023

The European Union’s (EU’s) Foreign Subsidies Regulation (FSR) was enacted to extend existing EU state aid rules, which govern the fairness of trade among states within the EU, to subsidies received from jurisdictions outside the EU, and includes incentives such as those provided by the US Inflation Reduction Act (IRA). What are the parameters of the new regulation, and how could it impact the realizability of climate incentives for your company? Heather Horn was joined by Barry Murphy and Allard Knook, PwC partners, to unpack these questions and provide the latest insights on the FSR, as well as available EU tax incentives. In this episode, you’ll hear discussion of: 2:38 - How the US IRA has shaped global regulatory agendas for state aid 8:13 - How the EU is providing its own incentives currently 17:14 - An overview of the Green Deal Industrial Plan 24:02 - The FSR rules, and their potential impact to non-EU companies 36:33 - The underlying policy objectives of the FSR, and how the FSR complements EU climate incentive funds 43:07 - Final advice to companies affected by the new regulation and four steps they can take to prepare Looking for more information on the FSR? Register for our upcoming webcast on July 12. For more information on the IRA, check out our previous podcast on ESG incentives in the Inflation Reduction Act and read our In depth . Barry Murphy is PwC’s Global ESG leader for Tax and Legal Services. Based in the UK, he has 20 years of experience advising clients on their domestic and international tax affairs. He is also focused on driving compliance solutions with the digital first approach. Allard Knook is the Public Sector Legal leader for PwC Netherlands, with over 20 years experience in government finance, including subsidy programs both at the national and European level. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jun 29, 2023

The International Sustainability Standards Board (ISSB) issued final IFRS® Sustainability Disclosure Standards on June 26. This included IFRS S1, which provides the core framework for the disclosure of material information about sustainability-related risks and opportunities across an entity’s value chain, and IFRS S2, which is the first thematic standard issued that sets out requirements for entities to disclose information about climate-related risks and opportunities. What’s ahead for sustainability reporting globally now that these standards are final? This week, Heather Horn was joined by Sue Lloyd, Vice-Chair of the ISSB, to discuss the complex process of finalizing its global baseline standards, the forthcoming impact to companies, and the expected breadth of adoption internationally. In this episode, you’ll hear discussion of: 1:26 - How the ISSB brought the standards to the finish line, including the biggest obstacles along the way 10:12 - Noteworthy changes from the initial draft standards to the final versions 17:06 - The importance of interoperability across jurisdictions and regulatory frameworks 21:39 - The status of jurisdictional adoption of the standards 26:08 - The barriers to building capacity for reporting under the new IFRS Sustainability Disclosure Standards across global value chains 29:10 - How the investor focus of the IFRS Sustainability Disclosure Standards provides an important reason for companies to consider adoption 33:07 - How the key features of IFRS S1 and IFRS S2 relate to each other and to other sustainability reporting standards 37:03 - The current and future outlook of the ISSB agenda consultation Want to hear more about the ISSB? Listen to our previous podcasts on its capacity building . And for more on the final standards, read our In brief and refer to additional resources on IFRS S1 and IFRS S2 linked inside from the ISSB. Sue Lloyd is the Vice-Chair of the ISSB and played a leading role in its establishment. Previously she served as a member and then Vice-Chair of the International Accounting Standards Board (IASB), and as Chair of the IFRS Interpretations Committee. Prior to becoming an IASB member, Ms. Lloyd worked for the IFRS Foundation as a senior technical director, leading the development of new IFRS Accounting Standards, and as director of capital markets with responsibility for the IASB’s reform of accounting for financial instruments. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jun 27, 2023

Every Tuesday in June, Angela Fergason is taking over the podcast to share the latest in her areas of specialty — including recent trends in revenue, how to consider whether your company is a principal or agent when recognizing revenue, software costs, and restructurings. To continue the series, Angela shares insights on some accounting implications of workforce restructuring, including the different accounting models available for termination benefits. In this episode, you’ll hear: 1:08 - An overview of the various accounting models applicable to workforce restructuring events Insights on accounting for: 3:55 - One-time involuntary benefits, including severance payments 8:54 - Termination benefits under an existing plan 14:50 - Voluntary termination benefits and other benefit combinations 20:03 - Modifications of stock-based compensation awards, including both vested and unvested awards 28:36 - Extending the exercise period of stock-based compensation awards 31:14 - Final advice on accounting for workforce restructuring events, including non-GAAP measures and restructuring charges For more information on severance payment arrangements and stock-based compensation awards, read Chapter 8 of our Pensions and employee benefits guide. For more information on modifications of stock-based compensation awards, read Chapter 4 of our Stock-based compensation guide. Additionally, check out our prior podcast on non-GAAP measures . 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 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jun 22, 2023

PwC recently conducted research based on our most recent Global CEO Survey and Global Investor Survey to understand a key question: how much alignment is there between company leadership and the expectations of investors on ESG issues? The results were insightful, and might even surprise you. This week, Heather Horn was joined by Nadja Picard, PwC Global Reporting Leader, to break down the results and discuss the differing expectations between CEOs and investors. They also address how CFOs and their teams can help companies better meet investor expectations on sustainability. In this episode, you’ll hear discussion of: 1:36 - The research: What the data from the Global Investor Survey and CEO Survey says 15:14 - Where there may be gaps in what investors are expecting, and the importance of creating a strategy to progress in closing the gaps 22:08 - How companies are embedding sustainability reporting in their processes and systems 32:30 - How CFOs and their organizations are leading in communicating progress on climate 38:06 - The reporting landscape: A look at other important sustainability topics (besides climate) that will drive action 42:16 - Final advice for companies looking for better alignment with investor expectations 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 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jun 20, 2023

Every Tuesday in June, Angela Fergason is taking over the podcast to share the latest in her areas of specialty — including recent trends in revenue, how to consider whether your company is a principal or agent when recognizing revenue, software costs, and restructurings. To continue the series, Heather Horn and Angela are joined by Mike Coleman to share insights on accounting for software costs and provide an update on the FASB’s project on software costs. In this episode, you’ll hear: 1:38 - Considerations when accounting for software costs across industries, including the impact of digital transformations and the possible impact of new FASB standards in progress 6:17 - An overview of current guidance, including the two accounting models for software (externally marketed software and internal use software) 10:13 - Accounting considerations from the perspective of the software vendor 14:51 - Accounting considerations from the perspective of the software buyer 17:03 - An update on the FASB’s project to modernize accounting for software costs 25:29 - Final advice to clients when accounting for software costs For more information on accounting for software costs, read our Software costs guide. Also, to stay updated on the status of the FASB’s project to modernize software costs, refer to the FASB website . 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. 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. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jun 13, 2023

Every Tuesday in June, Angela Fergason is taking over the podcast to share the latest in her areas of specialty — including recent trends in revenue, how to consider whether your company is a principal or agent when recognizing revenue, software costs, and restructurings. To continue the series, Heather and Angela are joined by Mike Coleman, a partner in PwC’s National Office, to share insights on the challenges in the principal versus agent analysis. In this episode, you’ll hear discussion of: 1:37 - An overview of the principal versus agent assessment 3:52 - Practical examples 7:09 - An overview of the two-step assessment of whether the company acts as the principal or agent from the perspective of the intermediary 17:22 - An overview of the two-step assessment of whether the company acts as the principal or agent from the perspective of the vendor 18:22 - Considerations when accounting for revenue based on the results of the principal versus agent analysis 22:35 - Final advice to clients and engagements teams when performing the principal versus agent assessment For more information, read chapter 10 of our Revenue guide for principal versus agent considerations. 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. 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. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jun 8, 2023

With so much focus on upcoming mandatory sustainability reporting requirements from jurisdictions around the globe, it’s sometimes easy to lose sight of the fact that many of the biggest sustainability-related topics often can and do have an impact not just on sustainability disclosures, but also on the financial statements. Both the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB)® have provided educational materials on the topic of ESG in the financial statements under existing accounting standards – and both boards have added projects to their respective agendas that will impact accounting standards in the future. This week, Heather Horn was joined by Scott Bandura, Valerie Wieman, and Katie Woods, who are all following sustainability-related projects from accounting standard setters, to share their insights on these projects and provide reminders under current accounting standards for reporting on ESG topics in the financial statements. Katie also addresses the topic of connectivity between sustainability reporting and financial reporting. In this episode, you’ll hear discussion of: 2:13 - An overview and status of the FASB’s sustainability-related agenda projects 7:57 - An overview and status of the IASB’s project on climate in the financial statements 13:45 - The connectivity between the IASB’s climate project and sustainability reporting 24:20 - Challenges in reporting the impacts of sustainability related matters 31:24 - Definitions of “pollution mechanisms” and “carbon offsets” as well as the accounting and reporting implications of these instruments 36:17 - An overview of the types of power purchase agreements and their accounting and reporting implications 43:27 - Final advice for companies to help them stay up to speed with evolving guidance Scott Bandura is a partner in the National and Global Accounting Consulting Services at PwC Canada with over 20 years of experience advising clients on international accounting standards. Valerie Wieman is PwC’s National Office Editor-in-chief. She is involved in the creation, development, and publication of our brand-defining thought leadership, with a focus on ESG reporting. Prior to this role, she was part of PwC’s National Office SEC Services group, helping clients navigate SEC rules and regulations. Katie Woods is a Director in PwC's Global Accounting Consulting Services group and advises on ESG and international accounting standards. Katie specializes in the new and emerging ESG reporting frameworks working across the PwC network. She has over 30 years of experience working with a broad range of companies. Katie speaks regularly on a range of ESG and accounting topics at national and international seminars. 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 Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jun 6, 2023

Every Tuesday in June, Angela Fergason is taking over the podcast to share the latest in her areas of specialty — including recent trends in revenue, how to consider whether your company is a principal or agent when recognizing revenue, software costs, and restructurings. To kick off the series, Angela shares insights on current trends in the accounting for revenue transactions. In this episode, you’ll hear discussion of: 1:38 - An overview of accounting for revenue 4:16 - “Everything as a Service” (XaaS) arrangements and their embedded complexities, including interaction with the lease accounting model 12:38 - Revenue contract modifications, including scope reductions 17:32 - The non-cash consideration revenue model, including equity payments for both vendors and customers as well as interaction with stock-based compensation guidance 23:04 - Considerations when revenue arrangements include significant financing 26:05 - SEC comment letter trends and final advice on accounting for revenue For more information, read our Revenue , Leases and Stock-based compensation guides. Additionally, check out our prior podcasts on the subscription economy , identifying embedded leases , and Revenue: 2022 SEC comment letter trends . 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 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jun 1, 2023

The European Commission has adopted a set of proposals, known as the European Green deal, with the aim of reducing net greenhouse gas emissions in the European Union (EU) by at least 55% by 2030, and achieving zero net emissions by 2050. In addition to the Corporate Sustainability Reporting Directive (CSRD), another pillar of this policy is the creation of the Carbon Border Adjustment Mechanism (CBAM), a new border tax aimed at equalizing the price of carbon paid for EU products operating under the EU Emissions Trading System (ETS) with that of similar imported goods. CBAM is likely to impact the cost of carbon in global supply chains, and also has reporting obligations beginning as early as October of 2023, and the regulation has raised many questions. Which companies will it impact? What products are in scope? Will it impact companies that don’t do business in the EU? This week, Heather Horn was joined by Barry Murphy and Niels Muller, PwC partners who are following CBAM, to share their insights on what it means and what companies can do now to prepare. In this episode, you’ll hear discussion of: 2:26 - An overview of the EU Green Deal and CBAM 9:37 - How CBAM is intended to spur global alignment on carbon pricing 13:26 - Effective dates, applicable products, and other details of the regulation 25:58 - The current status of verification (audit) requirements and how these may evolve 29:39 - How CBAM could potentially impact the cost of carbon in global supply chains 33:59 - Recommendations for companies that want to begin preparing for CBAM ahead of the October 2023 effective date Want to learn more about CBAM? Watch our webcast series . Barry Murphy is PwC’s Global ESG leader for Tax and Legal Services. Based in the UK, he has 20 years of experience advising clients on their domestic and international tax affairs. He is also focused on driving compliance solutions with the digital first approach. Niels Muller is a PwC partner based in the Netherlands specializing in energy transitions and sustainable energy. In this role he advises institutional investors, financial institutions, and utility companies as well as governments and non-governmental organizations on sustainability and tax projects. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

May 30, 2023

Every Tuesday in May, Jennifer Spang is taking over the podcast to share the latest on income tax accounting — recent global and US tax policy developments, standard setting activity, and tax accounting considerations related to common transactions, such as business combinations and spinoffs. To continue the series, Heather and Jenn are joined by Matt McCann, a partner in PwC’s National Office, to share insights on the practical challenges that arise in the tax accounting for spinoff transactions. In this episode, you’ll hear discussion of: 1:30 - What a spinoff transaction is and the SEC filing requirements, including the preparation of carve-out financial statements 7:48 - Considerations related to allocating the consolidated income tax provision to the carved-out entity 18:22 - Other practical tax challenges in carve outs including valuation allowance assessments, uncertain tax positions, and tax sharing agreements 28:30 - The importance of robust disclosures when attributes or assertions are expected to change post spin 35:52 - Planning for tax complexities post spin and final advice for companies For more information, read our Income taxes and Carve-out financial statements guides. Additionally, check out our prior podcast on taxes in separate company financial statements . Jennifer Spang is PwC’s National Office income tax accounting leader, specializing in tax accounting under US GAAP and IFRS. She has over 25 years of experience helping companies in a variety of industries navigate complex tax accounting matters. Matthew McCann is a partner in PwC's National Office who provides consultation in the areas of revenue recognition and income taxes. He has over 25 years of experience and previously served as the leader of the Consumer & Industrial Products Sector Assurance Practice in North Texas. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

May 25, 2023

With so much focus on the SEC’s climate disclosure proposal in the US this year, climate has taken the attention of many preparers – and for good reason. However, another topic, natural resources and biodiversity, is coming to the forefront as governments and companies begin to understand the size of the problem, both in terms of its potential impact on business and the potential impact of business on biodiversity. But with many competing priorities, how do companies also contemplate nature issues in their strategy? This week, Heather Horn was joined by guests at the forefront of the nature space: Will Evison, director in PwC UK’s Global Sustainability, Climate, and Nature Strategy practice Eva Zabey, CEO of Business for Nature Julie Moorad, Senior Manager of Climate Action at Salesforce Our panel shares their insights on ways companies are strategizing and integrating the topic of nature into their operating models. In this episode, you’ll hear discussion of: 1:42 - Synergies between climate initiatives and nature positive policies 15:11 - Transforming your nature strategy to manage risk and create value 27:32 - The interrelationships among natural capital, business operations, and the broader economy 37:45 - The importance of starting a nature positive path now even though strategies may evolve in the long term 43:03 - The importance of building capacity in nature strategy and reporting 46:44 - Final advice for companies wanting to integrate nature positive strategies into everyday operations Interested in more background on measuring and reporting nature and biodiversity? Listen to our previous podcast in the “Becoming nature positive” series, and check out PwC’s global nature hub here . 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. Eva Zabey is the CEO of Business for Nature, which is a global business-led coalition aiming to reverse nature loss and restore the planet’s natural systems on which economies, wellbeing and prosperity depend. Previously, she led natural capital projects at the World Business Council for Sustainable Development for 15 years. Julie Moorad is a Senior Manager of Global Climate Action for Salesforce. Her team leads Salesforce’s international sustainability strategy, Europe, Middle East, and Africa sustainability program and developing our nature strategy, and implements nature positive policies that drive economic value firmwide and for their customers. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

May 23, 2023

Every Tuesday in May, Jennifer Spang is taking over the podcast to share the latest on income tax accounting — recent global and US tax policy developments, standard setting activity, and tax accounting considerations related to common transactions, such as business combinations and spin-offs. To continue the series, Heather and Jenn are joined by Kassie Bauman, a managing director in PwC’s National Office, to share their insights on income tax accounting for business combinations. In this episode, you’ll hear discussion of: 2:01 - An overview of the applicable guidance and a summary of steps to take when assessing tax considerations of a business combination 7:13 - The importance of the tax status of the entities involved and distinguishing between taxable and non-taxable transactions 20:53 - Identifying and measuring temporary tax differences related to business combinations 23:36 - Deferred taxes associated with goodwill and considerations on the valuation allowance assessment 34:26 - Other common tax accounting considerations in business combinations including the measurement period, uncertain tax positions, and indemnifications 37:32 - Final thoughts, including deal economics considering tax For more information, read our Business combinations and Income taxes guides, and check out a prior podcast on accounting for business combinations . Jennifer Spang is PwC’s National Office income tax accounting leader, specializing in tax accounting under US GAAP and IFRS. She has over 25 years of experience helping companies in a variety of industries navigate complex tax accounting matters. Kassie Bauman is a managing director in PwC's National Office who consults on tax accounting under US GAAP and IFRS. Kassie has more than 20 years of auditing and accounting experience addressing complex technical accounting matters. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

May 18, 2023

The International Sustainability Standards Board (ISSB) has been working quickly through deliberations on its proposals to create a comprehensive global baseline of sustainability disclosures. Final standards are expected by the end of Q2 2023. But implementing an effective global baseline goes beyond simply setting standards – it requires a new set of capabilities, infrastructure, knowledge, and talent in economies around the world. How will this be accomplished? This week, Heather Horn was joined by Jingdong Hua, Vice Chair of the ISSB, and Mardi McBrien, Strategic Affairs Director of the IFRS Foundation, to discuss the topic of “capacity building” and how the IFRS Foundation is focused on bringing the global reporting community along the sustainability reporting journey. In this episode, you’ll hear discussion of: 2:29 - What capacity building means 4:59 - How the ISSB is creating partnerships to advance its progress toward building capacity 12:35 - The importance of interoperability across jurisdictions and regulatory frameworks 17:50 - The ISSB’s three-part capacity building framework 26:21 - How the ISSB is bringing together stakeholders with varying interests for common goals 28:40 - Expectations on timing of release of final ISSB standards and resources for companies to prepare Want to hear more about the ISSB? Listen to our previous podcasts on its fast-paced deliberations as well as PwC’s responses to the ISSB exposure drafts . For more on how ISSB standards compare to other proposals, read our publication: Navigating the ESG landscape . Jingdong Hua is the Vice Chair of the ISSB. His role on the board is to develop and implement the ISSB’s strategies to support and include stakeholders in emerging and developing economies as well as small and medium-sized companies. He is the former Vice President and Treasurer of World Bank, where he specialized in sustainability bonds and developed the world’s first “green-bond.” Mardi McBrien is the Director of Strategic Affairs at the IFRS Foundation responsible for sustainability reporting. In this role she has played an active part in setting up the ISSB. Prior to the IFRS Foundation, Mardi spent over a decade leading the global ESG standard setter, the Climate Disclosure Standards Board (CDSB), in developing quality disclosure standards and thought leadership on environmental and social issues. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

May 16, 2023

Every Tuesday in May, Jennifer Spang is taking over the podcast to share the latest on income tax accounting — recent global and US tax policy developments, standard setting activity, and tax accounting considerations related to common transactions, such as business combinations and spin-offs. To continue the series, Heather and Jenn are joined by Kassie Bauman, managing director in PwC’s National Office, to share insights on income tax accounting for equity method investments. In this episode, you’ll hear discussion of: 1:31 - An overview of the equity method of accounting under GAAP for book purposes 6:21 - Book versus tax basis differences and when to record deferred taxes on equity method investments 8:52 - Income tax accounting implications when an investee becomes a subsidiary (or vice versa) through changes in ownership and control 13:43 - Income tax considerations related to equity method investments in partnerships, including the “look-through” policy election and inside and outside tax basis differences 25:45 - Final advice and common income tax questions on equity method investments For more information, read our Equity method and Income taxes guides. Additionally, check out our prior podcasts, Part 1 and Part 2, on applying the equity method . Jennifer Spang is PwC’s National Office income tax accounting leader, specializing in tax accounting under US GAAP and IFRS. She has over 25 years of experience helping companies in a variety of industries navigate complex tax accounting matters. Kassie Bauman is a managing director in PwC's National Office who consults on tax accounting under US GAAP and IFRS. Kassie has more than 20 years of auditing and accounting experience addressing complex technical accounting matters. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

May 11, 2023

With a multitude of ESG disclosure and reporting requirements coming into play around the world, it’s easy to begin viewing sustainability as nothing more than a compliance and reporting obligation – something that must be done but that doesn’t actually create value. But what if that perspective is limited? This week, Heather Horn was joined by Jamie Gamble, PwC managing director, to discuss how leading companies and their boards are viewing sustainability as an opportunity to reflect on the issues that are core to their businesses’ value creation – and integrating these issues into their strategies to create sustainable, long-term value. This is what Jamie calls “sustainable value governance.” In this episode, you’ll hear discussion of: 3:20 - The marketplace factors driving demand for sustainable progress 6:30 - How investors and other stakeholders are beginning to understand the long term value embedded in ESG issues 14:54 - A four-part framework for sustainable value governance 28:20 - How robust reporting for the board supports companies in making progress on the issues that drive sustainable value 36:40 - How and why the finance function is playing a central role in the company’s sustainability policy setting and reporting 42:46 - The benefits that accrue to companies from having a clear, consistent process for identifying the sustainability issues that are relevant for their business Want to hear more from Jamie? Listen to his previous podcast on governance in the SEC’s climate disclosure proposal . Jamie Gamble is a managing director in PwC's Trust Solutions practice with over 25 years of experience focused on corporate governance, cybersecurity, workforce, and ESG-related issues. Before joining PwC, he was a litigation partner at a major law firm. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

May 4, 2023

With so much focus on the SEC’s climate disclosure proposal in the US this year, climate has taken the attention of many preparers – and for good reason. However, another topic, natural resources and biodiversity, is coming to the forefront as governments and companies begin to understand the size of the problem, both in terms of its potential impact on business and the potential impact of business on biodiversity. This week, Heather Horn was joined by Alan McGill, a partner in PwC’s Global Sustainability, Reporting, Measurement and Assurance practice, and PwC Global sustainability topic team leader Andreas Ohl to discuss the measurement of and reporting on the topics of nature and biodiversity. In this episode, you’ll hear discussion of: 2:05 - The current state of company readiness to report on nature and biodiversity 8:19 - How all types of businesses exhibit indirect dependencies on nature and exposure to nature risks 14:08 - Measuring biodiversity-related value in your company’s operations 21:07 - Definition of natural capital and overview of its financial impacts 30:11 - The importance to businesses in every sector of developing nature positive strategies 36:21 - Assurance on data and metrics on nature and biodiversity topics 45:43 - Final advice for organizations wanting to become nature positive Interested in more background on the business value drivers inherent in nature and biodiversity? Listen to our previous podcast in this series, and check out PwC’s global nature hub here . Alan McGill is a partner in PwC UK and is the Global Sustainability Reporting, Measurements, and Assurance Leader. With over 15 years’ experience delivering sustainable business projects, Alan’s work focuses on the impact of sustainability issues on business, and providing organizations with attestation services over their reporting on relevant sustainability issues. Andreas Ohl is a partner in PwC's National Office focused on thought leadership, standard setting, and mergers and acquisitions under US GAAP and IFRS. In addition to his US responsibilities, he leads the sustainability topic team for the PwC global network. Andreas is chairman of the Business Valuation Standards Board at the International Valuation Standards Council, is a member of the working group that authored the AICPA's in-process R&D guide, and has served as a member of the FASB's Valuation Resource Group. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Apr 27, 2023

With so much focus on the SEC’s climate disclosure proposal in the US this year, climate has taken the attention of many preparers – and for good reason. However, another topic, natural resources and biodiversity, is coming to the forefront as governments and companies begin to understand the size of the problem, both in terms of its potential impact on business and the potential impact of business on biodiversity. This week, Heather Horn was joined by Tom Beagent, a partner in PwC’s Global Sustainability and Climate Change practice, and PwC National Office partner and Global sustainability topic team leader Andreas Ohl. They bring the vantage point of the CFO to bear on the topics of nature and biodiversity and highlight the drivers of sustainable business value embedded in these topics. In this episode, you’ll hear discussion of: 2:28 - Perspectives from conversations with CFOs on biodiversity and nature 6:53 - Defining nature and the interconnected relationships among the economy, the value chain of business, and nature 17:47 - Identifying nature- and biodiversity-related risks – and opportunities – in your company’s operations 19:28 - How market prices charged for using natural resources today may be well below the ultimate cost to the global economy 25:13 - The differences between “Net Positive” nature and biodiversity initiatives and “Net Zero” climate policies 34:26 - Investors’ interest in natural resources and biodiversity, and the metrics companies can use to disclose their dependencies on nature 46:56 - Where companies should start in contemplating risks and opportunities in this space Interested in more background on the main issues related to nature and biodiversity? Listen to our previous podcast in this series, and check out PwC’s global nature hub here . Tom Beagent is a partner in PwC UK's Global Sustainability and Climate Change practice, specializing in integrating natural and social capital analysis into decision making for sustainable growth. With over 20 years’ experience delivering sustainable business projects, he also co-developed PwC’s Total Impact Measurement and Management methodologies (TIMM), which allows organizations to measure and value the social, environmental, economic, and fiscal impacts resulting from their operations, as well as their extended value chains. Andreas Ohl is a partner in PwC's National Office focused on thought leadership, standard setting, and mergers and acquisitions under US GAAP and IFRS. In addition to his US responsibilities, he leads the sustainability topic team for the PwC global network. Andreas is chairman of the Business Valuation Standards Board at the International Valuation Standards Council, is a member of the working group that authored the AICPA's in-process R&D guide, and has served as a member of the FASB's Valuation Resource Group. 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 avai Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Apr 25, 2023

Every Tuesday in April, Pat Durbin took over the podcast to share insights and go back to basics on some critical accounting areas, including contingent liabilities, subsequent events, and inventory. In this episode, Heather Horn and Pat are joined by Jay Seliber to discuss identifying whether a service arrangement with a public-sector grantor would be in scope of ASC 853 on service concessions. They cover the accounting challenges that are associated with private-sector enterprises operating public infrastructure. In this episode, you’ll hear discussion of: 1:54 - What a service concession is, and who and what is in scope of the ASC 853 guidance 14:22 - Common types of private-public service arrangements 18:30 - How to think about applying the revenue recognition model to these arrangements and challenges when there are multiple performance obligations and variable fees 32:24 - How to recognize different types of expenses under the guidance 39:25 - The development of the US GAAP guidance and a comparison to IFRS 45:03 - Final advice when accounting for service concessions For more information, read the service concessions chapter in both our revenue recognition guide and our IFRS and US GAAP: similarities and differences guide. Additionally, listen to our revenue toolkit podcast miniseries . 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. Jay Seliber is a partner in PwC’s National Office. He leverages over 30 years of experience to help clients with their most complex accounting matters, particularly in the areas of mergers and acquisitions, revenue recognition, stock compensation, earnings per share, employee benefits, restructurings, impairments, and financing transactions. Jay is presently PwC's representative on the FASB's Emerging Issues Task Force. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Apr 20, 2023

With so much focus on the SEC’s climate disclosure proposal in the US this year, climate has taken the attention of many preparers – and for good reason. However, another topic, natural resources and biodiversity, is coming to the forefront as governments and companies begin to understand the size of the problem, both in terms of its potential impact on business and the potential impact of business on biodiversity. Given the breadth of the topic of biodiversity, understanding the issues that it encompasses can pose a challenge for preparers. This week, Heather Horn was joined by Will Evison, director in PwC UK’s Global Sustainability, Climate, and Nature Strategy practice, to continue the conversation on biodiversity in our series, “Becoming nature positive,” and provide a more robust understanding of the issues of land, water, and other nature topics. In this episode, you’ll hear discussion of: 5:14 - Why biodiversity is increasingly important to business 14:25 - How current land development and agriculture practices contribute to biodiversity challenges 26:04 - The differences between physical and economic water scarcity and how these impact business risks at a regional level 37:13 - Examples of individuals’ and businesses’ choices that can have positive and negative impacts on nature 40:49 - The differences between nature positive and net zero targets and goals 47:21 - Advice to companies who are just getting started on understanding the issue of biodiversity Interested in more background on why companies are beginning to focus on biodiversity? Listen to our previous podcast in this series. Also check out PwC’s global nature hub here . 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 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Apr 18, 2023

Every Tuesday in April, Pat Durbin is taking over the podcast sharing insights and going back to basics on some critical accounting areas, including contingent liabilities, subsequent events, and inventory. In this episode, Heather Horn and Pat discuss key accounting concepts and judgments in accounting for and valuing inventory. In this episode, you’ll hear discussion of: 1:34 - Different methods to determine inventory costs and the art of inventory cost accounting 19:27 - How to account for changes in cost flow assumptions or composition of costs 25:55 - Key judgments in valuation and impairment of inventory 33:19 - New ways to finance inventory 35:29 - Final advice for accounting for inventory For more information, read our Inventory guide. 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 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Apr 13, 2023

With so much focus on the SEC’s climate disclosure proposal in the US this year, climate has taken the attention of many preparers – and for good reason. However, another topic, natural resources and biodiversity, is coming to the forefront as governments and companies begin to understand the size of the problem, both in terms of its potential impact on business and the potential impact of business on biodiversity. The sustainability reporting standards that many companies will need to apply, such as the European Sustainability Reporting Standards and the International Sustainability Reporting Standards, include disclosure requirements on biodiversity. This week, Heather Horn was joined by PwC National Office partner and Global sustainability topic team leader, Andreas Ohl, to kick off a new podcast miniseries, “Becoming nature positive.” This first episode illuminates the types of issues that the term “biodiversity” encompasses and previews the rest of the series. In this episode, you’ll hear discussion of: 2:10 - The drivers behind the increasing importance of biodiversity 6:43 - Definitions and examples to illustrate the concepts of biodiversity and nature positivity 16:22 - Why even companies outside of the agriculture industry should prioritize biodiversity 24:34 - How the issues of biodiversity and climate change are related – and not related 30:07 - Additional topics that will be covered in future episodes of this miniseries Want to learn more? PwC recently commented on the revisions to the GRI biodiversity standard. Andreas Ohl is a partner in PwC's National Office focused on thought leadership, standard setting, and mergers and acquisitions under US GAAP and IFRS. In addition to his US responsibilities, he leads the sustainability topic team for the PwC global network. Andreas is chairman of the Business Valuation Standards Board at the International Valuation Standards Council, is a member of the working group that authored the AICPA's in-process R&D guide, and has served as a member of the FASB's Valuation Resource Group. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Apr 11, 2023

Every Tuesday in April, Pat Durbin is taking over the podcast sharing insights and going back to basics on some critical accounting areas, including contingent liabilities, subsequent events, and inventory. In this episode, Heather Horn and Pat are joined by Latina Fauconier to share insights on how to identify and evaluate subsequent events. Assessing whether information received between the balance sheet date and the issuance of the financial statements needs to be accounted for and/or disclosed can be challenging, and is more important than ever in this current environment. In this episode, you’ll hear discussion of: 1:43 - An overview of the accounting guidance and key judgments in evaluating subsequent events 4:55 - Complexities in determining if conditions existed as of the balance sheet date 11:08 - The importance of having processes and controls in place to monitor subsequent events 18:27 - Common examples of subsequent events and the impact on forward-looking estimates and assessments 29:04 - Considerations for disclosures 33:34 - Final advice for identifying and evaluating subsequent events For more information, listen to our previous podcast on subsequent events and read the subsequent events chapter of our Financial statement presentation guide. 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. Latina Fauconier is a partner on tour in PwC’s National Office, focusing on revenue and compensation matters. She advises clients and engagement teams on a wide range of complex accounting and financial reporting matters under US GAAP and IFRS. She was previously a Professional Accounting Fellow in the Office of the Chief Accountant at the SEC. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Apr 4, 2023

Every Tuesday in April, Pat Durbin is taking over the podcast sharing insights and going back to basics on some critical accounting areas, including contingent liabilities, subsequent events, and inventory. To kick off the series, Heather Horn and Pat are joined by Tom Barbieri, our US Chief Accountant, to bring you the latest on one of the oldest and most foundational standards, FAS 5, which is now Topic 450, Contingencies . In this episode, you’ll hear discussion of: 6:03 - An overview of the accounting framework and key judgments in assessing the likelihood of loss 10:21 - What to consider when measuring a loss contingency 16:06 - Recognition and presentation of insurance recoveries 18:49 - When gain contingencies may be recognized 27:04 - What companies should consider in disclosing contingencies 32:00 - Final advice when accounting for and disclosing contingencies For more information, read the Contingencies chapter of our Financial statement presentation guide. 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. Tom Barbieri is the Chief Accountant in the Firm’s National Office and has over 30 years of experience advising large financial services and multinational corporations on complex accounting issues. He leads the Accounting & SEC Services Group, which is focused on supporting our clients and engagement teams in navigating complex technical accounting and financial reporting matters. Tom is also a member of the Financial Accounting Standards Advisory Council. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Mar 28, 2023

Every Tuesday in March, Suzanne Stephani took over the podcast to bring you the latest on different types of financing arrangements — from debt to leases to supplier financings — including how the current macroeconomic environment impacts the accounting. In this episode, Heather Horn and Suzanne are joined by Brian Staniszewski, a PwC partner who advises clients on debt transactions. Brian and Suzanne share observations and insights on recent debt restructurings in this time of economic uncertainty. They also share reminders on how to navigate the different accounting models for debt restructurings. In this episode, you’ll hear discussion of: 2:00 - Common themes among debt restructurings taking place in the current economic environment 6:38 - An overview of the different accounting models for debt restructurings and why it matters to get the accounting model right 17:12 - The key judgments required in determining whether a restructuring is a troubled debt restructuring 19:56 - Common issues in the non-troubled debt restructuring model 34:58 - Financial statement presentation of debt restructurings 38:40 - Final advice when dealing with a debt restructuring For more information, listen to our previous podcasts on the classification of debt in an uncertain economic environment and on the presentation and disclosure of debt. Also read related guidance in our Financial statement presentation guide , Financing guide , and frequently asked questions on accounting in uncertain times . Suzanne Stephani is a director in PwC’s National Office specializing in the statement of cash flows, as well as the application and interpretation of the accounting guidance related to financing and leasing transactions. Brian Staniszewski is partner in PwC’s capital markets and accounting advisory group specializing in advising clients on accounting and financial reporting issues related to capital restructuring and capital raising transactions, financial instruments, business combinations, consolidation, and minority investments. He previously completed a fellowship in the SEC's Office of the Chief Accountant. 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 us_podcast@pwc.com Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Mar 21, 2023

Every Tuesday in March, Suzanne Stephani, is taking over the podcast to bring you the latest on different types of financing arrangements - from debt to leases to supplier financings - including how the current macroeconomic environment impacts the accounting. In this episode, Heather Horn and Suzanne will discuss the impact of the current macroeconomic environment on the classification of debt as current or noncurrent. In this episode, you’ll hear discussion of: 4:44 - Key judgments in assessing the impact of covenant violations when there are grace periods and waivers 13:40 - What to think about when debt is modified in advance of a covenant violation 17:12 - The importance of identifying cross default and cross acceleration clauses in debt agreements 20:08 - What you need to know about subjective acceleration clauses (SACs), especially in the current economic environment 25:38 - Frequent debt refinancing questions and how SACs within refinancing agreements impact the ability to use them to achieve noncurrent classification For more information, listen to our previous podcast on the presentation and disclosure of debt, and stayed tuned for our next podcast in this miniseries, on debt restructuring. Also read our Financial statement presentation guide and frequently asked questions on accounting in uncertain times . Suzanne Stephani is a director in PwC’s National Office specializing in the statement of cash flows, as well as the application and interpretation of the accounting guidance related to financing and leasing transactions. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Mar 16, 2023

GHG Protocol is one of the most widely known and applied sustainability reporting frameworks. Even as ESG reporting continues to increase in prominence with proposed disclosures from the European Union as part of the Corporate Sustainability Reporting Directive (CSRD), internationally by the International Sustainability Standards Board (ISSB), and in the United States by the Securities and Exchange Commission (SEC), the criticality of GHG Protocol is reinforced by its incorporation in each of these “big three” proposals. In light of this changing landscape, the GHG Protocol has undertaken a process to survey stakeholders and determine what updates are needed to its protocol, standards, and guidance. Heather Horn was joined by Marcin Olewinski, a PwC Trust Solutions partner, to unpack the key points of feedback contained in PwC’s comment letter on the GHG Protocol’s open consultation. Heather and Marcin both led PwC’s global working group on developing our comments. In this episode, you’ll hear discussion of: 1:58 - The importance of governance of the GHG Protocol for long-term operability 10:38 - Our view that measurement, recognition, and baseline disclosures should form the building blocks of the standards 16:40 - Suggestions for structuring and organizing the standards for ease of use 19:17 - Dealing with disparities in data quality and availability through transparent disclosures 23:51 - The importance of aligning organizational boundaries, lease accounting, and other areas in the Protocol with financial reporting 32:21 - Recommendations to improve Scope 2 reporting 39:57 - Final perspectives on aligning GHG reporting with financial reporting Interested in the contents of our comment letter to the GHG protocol? Read it here . Marcin Olewinski is a partner in PwC’s Trust Solutions practice, with over 20 years of experience bringing valued perspectives and insights to large clients in the energy sector. Additionally, he’s focused extensively within PwC’s National Office on greenhouse gas and sustainability reporting. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Mar 14, 2023

Every Tuesday in March, Suzanne Stephani is taking over the podcast to bring you the latest on different types of financing arrangements—from debt to leases to supplier finance programs—including how the current macroeconomic environment may impact the accounting. In this episode, Heather Horn and Suzanne are joined by Bret Dooley, a PwC partner who leads our team advising clients on the accounting for financial instruments. Suzanne and Bret explain what supplier finance programs are, share insights on assessing the balance sheet classification, and break down the new disclosure requirements from the FASB that are now (generally) effective for calendar year-end companies. In this episode, you’ll hear discussion of: 2:32 - The broad range of supplier finance programs that exist in the market and why companies enter into them 12:12 - Why classification on the balance sheet as either a trade payable or debt matters 15:19 - Indicators commonly used in practice to assess classification and key judgments to consider 32:42 - What’s required to be disclosed under the FASB’s new guidance and when 38:58 - Final advice on thinking through the accounting and reporting for these programs For more information on the accounting and disclosure of supplier finance programs, check out our Financial statement presentation guide . Suzanne Stephani is a director in PwC’s National Office specializing in the statement of cash flows, as well as the application and interpretation of the accounting guidance related to financing and leasing transactions. Bret Dooley is a Deputy Chief Accountant in PwC’s National Office and the financial instruments accounting leader. He has over 25 years of experience specializing in the financial services, banking, and capital markets industries. Bret focuses on emerging financial reporting issues relating to financial instruments, developing interpretive guidance, and assisting clients in resolving complex accounting matters. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Mar 7, 2023

Every Tuesday in March, Suzanne Stephani is taking over the podcast to bring you the latest on different types of financing arrangements - from debt to leases to supplier financings - including how the current macroeconomic environment impacts the accounting. To kick off the series, Heather Horn and Suzanne are joined by Marc Jerusalem, a PwC managing director who also specializes in leasing, to discuss how the current macroeconomic environment impacts the accounting for leases. In this episode, you’ll hear discussion of: 2:23 - Recent FASB standard setting on leases between entities that are under common control 7:38 - How rising interest rates may make it more challenging to use an existing borrowing rate to measure a lease 14:21 - Remeasurement events that may occur more frequently during times of economic uncertainty and what assumptions may need to be updated as a result of them 20:37 - Impairment of right-of-use asset considerations when a company decides to sublease or abandon a leased space 31:37 - Frequent questions on the classification of lease activity in the statement of cash flows For more information, listen to our other podcasts in PwC’s Leasing Toolkit series and read our publication on frequently asked questions on accounting in uncertain times . Suzanne Stephani is a director in PwC’s National Office specializing in the statement of cash flows, as well as the application and interpretation of the accounting guidance related to financing and leasing transactions. Marc Jerusalem is a managing director in PwC’s National Office specializing in leasing. Marc consults with clients on complex lease accounting issues and is a frequent contributor to many related PwC National Office publications. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Feb 28, 2023

Every Tuesday in February, Andreas Ohl, PwC’s Global ESG Technical Leader, took over the podcast and talked all about one of a company’s most valuable intangible assets, human capital. He discussed what it is and why it matters, how it’s treated in financial and ESG reporting, and how its value is reflected in deals. In this final episode of the miniseries, Heather Horn and Andreas are joined by Carrie Duarte, a PwC workforce transformation specialist, to discuss how sophisticated acquirers are creating value through human capital in transactions. They also share insights on how investing in the workforce may create both social value creation (which is the “S” in ESG) and financial value creation. In this episode, you’ll hear discussion of: 6:30 - Trends in the deals market that are driving outsized returns 14:21 - Practical and tactical examples of opportunities identified through deals to create value through the workforce 23:37 - The importance of providing a “good job” and managing the investment in the workforce 31:37 - How reflecting the voice of the worker in the company’s labor management strategy creates social and financial value creation Listen to earlier episodes in this series on the impact of recent demographic trends on the investment in human capital, how a company’s largest asset may not be on balance sheet , and on communicating value through ESG reporting . Andreas Ohl is a partner in PwC's National Office focused on thought leadership, standard setting, and mergers and acquisitions under US GAAP and IFRS. In addition to his US responsibilities, he leads the sustainability topic team for the PwC global network. Andreas is chairman of the Business Valuation Standards Board at the International Valuation Standards Council, is a member of the working group that authored the AICPA's in-process R&D guide, and has served as a member of the FASB's Valuation Resource Group. Carrie Duarte is a partner leading PwC's Organization and Workforce Transformation Deals team. Carrie helps CEOs take advantage of the catalyzing event of a transaction to transform their organizations and workforces. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Feb 23, 2023

Billed as the largest climate legislation in US history, the Inflation Reduction Act (IRA) includes tax credits, incentives, and other provisions intended to help companies tackle climate change, increase investments in renewable energy, and enhance energy efficiency. What are the most common ways that companies are planning to take advantage of the Act? What provisions does the Act have that might benefit companies that are not in the energy industry? Heather Horn was joined by Matt Haskins, PwC principal, to unpack these questions and provide the latest updates on the IRS’ guidance process. In this episode, you’ll hear discussion of: 2:45 - The IRA’s key ESG-related provisions 5:35 - Updates on IRS guidance on the IRA 14:05 - Manufacturing investment tax credits and the application process 22:15 - Areas to consider to navigate the IRA effectively 26:40 - How new methods of data modeling allow companies to assess when they may qualify for incentives 32:25 - How the market is contemplating transactions for direct pay and transferable tax credits Looking for more information on the Inflation Reduction Act? Check out our previous podcast on ESG incentives in the Inflation Reduction Act . Matt Haskins is a principal in PwC’s Washington National Tax Services, where he leads the firm's Cleantech tax practice, 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Feb 21, 2023

Every Tuesday in February, Andreas Ohl, PwC’s Global ESG Technical Leader, will be taking over the podcast and talking all about one of a company’s most valuable intangible assets, human capital. He will discuss what it is and why it matters, how it’s treated in financial and ESG reporting, and how its value is reflected in deals. In this episode, Heather Horn and Andreas are joined by Sheri Wyatt, a PwC sustainability specialist, to discuss how we are seeing companies communicate the value of human capital through ESG reporting. In this episode, you’ll hear discussion of: 7:24 - Best practices in ESG reporting today 11:49 - The importance of using metrics that are tied to value creation in ESG reporting on human capital 18:16 - How ESG reporting may bridge the gap in financial reporting (because this investment may not be on balance sheet) 23:32 - Insights on human capital disclosures reported under the SEC’s current rule 28:30 - Expectations on the future of human capital reporting considering proposals from the ISSB and EFRAG (CSRD) and the expected proposal from the SEC 39:15 - Challenges and opportunities for companies in communicating the value of their workforce Listen to earlier episodes in this series on the impact of recent demographic trends on the investment in human capital and how a company’s largest asset may not be on balance sheet . And stay tuned for one more episode in the series. Andreas Ohl is a partner in PwC's National Office focused on thought leadership, standard setting, and mergers and acquisitions under US GAAP and IFRS. In addition to his US responsibilities, he leads the sustainability topic team for the PwC global network. Andreas is chairman of the Business Valuation Standards Board at the International Valuation Standards Council, is a member of the working group that authored the AICPA's in-process R&D guide, and has served as a member of the FASB's Valuation Resource Group. Sheri Wyatt is a partner in PwC’s Deals practice and a sustainability specialist who helps clients execute on their ESG reporting strategies, including how to navigate the evolving regulatory landscape both in the US and abroad. She has over 20 years of experience advising companies on the adoption of new accounting and financial reporting standards, from assessing current state through operationalizing compliance with new standards and policies. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Feb 9, 2023

The Task Force for Climate Related Financial Disclosures (TCFD) framework underpins each of the “big 3" sustainability disclosure proposals issued in 2022. But before it was incorporated in any of these proposals, TCFD was a heavyweight in its own right in terms of the breadth of its adoption. How did TCFD become what it is today? Heather Horn was joined by Jon Williams, PwC partner and TCFD member, to unpack the history of the TCFD and look ahead to how the framework may continue to shape sustainability reporting in the future. In this episode, you’ll hear discussion of: 2:40 - The TCFD’s history and why it was initially formed 12:07 - How the TCFD works to achieve stakeholder consensus on its framework recommendations 16:10 - Updates on where adoption of the TCFD framework stands at five years from its founding 20:43 - Perspectives on how regulators are raising the bar on TCFD disclosures 24:35 - How the TCFD was designed to interact with other existing frameworks, including the Climate Disclosure Project (CDP) 29:53 - Updates on the TCFD’s work plan for 2023 36:55 - Advice for companies who will be subject to mandatory TCFD disclosures in the future Looking for more information on TCFD reporting and scenario analysis? Check out our previous podcast on Leveraging TCFD for climate-related disclosures . Jon Williams is a member of the TCFD and co-leads the PwC UK’s Sustainability & Climate Change practice. With over three decades of experience in sustainable finance and strategy, Jon focuses on issues relating to climate change, biodiversity, water, and poverty alleviation. His clients include financial institutions in both developed and developing economies as well as companies in the retail, consumer goods, healthcare, energy, and mining sectors. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Feb 7, 2023

Every Tuesday in February, Andreas Ohl, PwC’s Global ESG Technical Leader, will be taking over the podcast and talking all about a company’s most valuable intangible asset, human capital. He will discuss what it is and why it matters, how it’s treated in financial and ESG reporting, and how its value is reflected in deals. To kick off the series, host Heather Horn and Andreas were joined by Zain Siddiqui, a senior economist with PwC Intelligence, to break down the macroeconomic and demographic trends leading to the scarcity of human capital seen today. They’ll also discuss how companies should think about human capital (perhaps differently than before) given these trends. In this episode, you’ll hear discussion of: 2:27 - What led to the abundant labor supply of the last few decades 7:15 - The impact of COVID on the current labor force and the fundamental shift in worker preferences 12:43 - How these demographic trends impact economic growth 14:44 - How to create value for your business by viewing human capital as an investment and not an expenditure 25:17 - What investing in the workforce means for businesses 38:10 - Final advice when looking ahead Stay tuned for upcoming podcasts in this series. Listen to our previous podcast with PwC Intelligence for a broader geopolitical and macroeconomic update. Andreas Ohl is a partner in PwC's National Office focused on thought leadership, standard setting, and mergers and acquisitions under US GAAP and IFRS. In addition to his US responsibilities, he leads the sustainability topic team for the PwC global network. Andreas is chairman of the Business Valuation Standards Board at the International Valuation Standards Council, is a member of the working group that authored the AICPA's in-process R&D guide, and has served as a member of the FASB's Valuation Resource Group. Zain Siddiqui is a senior economist for PwC Intelligence with a specialty in macroeconomics and finance. He advises stakeholders and clients on the business implications of emerging macro and geopolitical vulnerabilities, and helps them shape business strategy. His research has appeared in books on international economic policy and macroeconomic journals. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jan 24, 2023

In each episode of our Year-end toolkit series, our guests discuss key areas of the year-end reporting process – from closing the books to finalizing reports. In this episode, Heather Horn was joined by Gary Berchowitz, a leader in PwC’s Global Assurance Quality - Corporate Reporting Services group, to discuss the challenges and judgments needed under IFRS with regard to many of the hot button topics that we’ve been discussing in this series: Russia / Ukraine, inflation, and others key areas driven by today’s current environment. In this episode, you’ll hear discussion of: 1:40 - The impact of inflation and higher interest rates on asset valuations, income statement presentation, and other accounting topics 11:33 - How to contemplate climate-related risks under IFRS, and the importance of bridging sustainability commitments and financial impact for investors 18:14 - Russia, Ukraine, and accounting for uncertainty more broadly 22:35 - Considerations for non-insurers with regard to the new insurance guidance, IFRS 17 26:10 - Updates on the OECD’s Pillar 2 global minimum tax proposal and the proposed deferred tax accommodations from the IASB 31:32 - The importance of updating processes to adjust to the current environment 32:41 - IASB standard setting expected in 2023 Check out other episodes of our Year-end toolkit series: Managing materiality assessments and Accounting reminders for uncertain times . Gary Berchowitz is the Non-Financial Instruments Leader in PwC’s Global Assurance Quality - Corporate Reporting Services group. Gary brings nearly 20 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 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 us_podcast@pwc.com Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jan 17, 2023

In each episode of our Year-end toolkit series, our guests discuss key areas of the year-end reporting process – from closing the books to finalizing reports. In this episode, PwC’s US Trust Solutions Quality Management leader, Michael Mullen, joins us to share his expertise managing materiality judgments and to provide insights into recent SEC activity related to materiality. In this episode, you’ll hear discussion of: 1:45 - The principle and purpose of the SEC staff’s accounting bulletin on materiality (SAB 99) 5:13 - Recent SEC statements on materiality and the importance of an objective, unbiased assessment 10:04 - The need for a thoughtful and documented assessment of materiality before identifying an error 15:54 - The impact of the current macroeconomic environment on the assessment of fraud risk by management and auditors 23:44 - SEC enforcement actions and expected impact of the SEC’s new compensation clawback rules 31:51 - Final advice and reminders for year-end materiality assessments Check out other episodes of our Year-end toolkit series, available in our library. And listen to another podcast with Michael that takes a deeper dive on the process of making materiality assessments . Michael Mullen is PwC’s US Trust Solutions Quality Management leader. In this role, he oversees complex client issues, providing technical insights and expertise in support of overall quality. With over 30 years of client service experience, Michael has led numerous global client engagements. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jan 12, 2023

In each episode of our Year-end toolkit series, our guests discuss key areas of the year-end reporting process – from closing the books to finalizing reports. In this episode, PwC National Office director Suzanne Stephani joins us to discuss the most timely issues preparers face on the statement of cash flows, focusing on the transactions and topics that are arising more frequently in today’s macroeconomic environment. In this episode, you will hear reminders on the cash flow treatment of: 1:43 - Factoring of accounts receivable 8:42 - Supplier finance programs 12:51 - Cash equivalents, including Treasury Bills, commercial paper, and money market funds 18:52 - Foreign currency matters 27:51 - Discontinued operations 29:38 - Business combinations Stay tuned for the next episode in our Year-end toolkit series. For more of our previous content on the statement of cash flows, check out Statement of cash flows: Back to basics and Building your cash flow statement in uncertain times . Suzanne Stephani is a director in PwC’s National Office specializing in the statement of cash flows, as well as the application and interpretation of the accounting guidance related to financing and leasing transactions. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jan 3, 2023

In each episode of our Year-end toolkit series, our guests discuss key areas of the year-end reporting process. PwC National Quality Organization leader, Tim Carey, joins us this week to kick off the series with his advice on dealing with the impact of broad macroeconomic issues, resolving complex technical issues, and staying ahead of the curve on the year-end close. In this episode, our guests will discuss: 4:54 - Where to focus efforts for this year end 16:15 - How to prepare for unexpected or unusual items 20:21 - The importance of re-assessing the adequacy of MD&A disclosures 22:50 - Why connecting the dots across functions is critical for managing issues 31:54 - How to best manage the time between earnings release and filings 36:25 - Best practices for dealing with last minute issues and changes 39:07 - Tim’s recommendations for managing resources and promoting team success Stay tuned for upcoming podcasts in our Year-end toolkit series and listen to our Q4 2022 Quarter close for further insights on the latest accounting, financial reporting, and regulatory updates to support year-end reporting. And for more information on presentation and disclosure requirements, check out our Financial statement presentation guide. Tim Carey is PwC’s National Quality Organization leader, with 30+ years experience in complex accounting, tax and reporting issues. Tim has led large-scale teams on a wide range of projects including financial statement audits, transaction structuring, financial due diligence, and post-merger integration. Heather Horn is PwC’s National Quality Organization 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Dec 6, 2022

In each episode of our 2022 SEC comment letter trends series, our guests bring you the latest themes in comment letters from the SEC’s Division of Corporation Finance. Kyle Moffatt, PwC National Office partner, is back in the guest seat with our host, Heather Horn, to share key insights on the #1 top SEC comment letter trend in 2022, MD&A. In this episode you’ll hear discussion of: 1:27 - The impact of changes to MD&A guidance 8:01 - The types of MD&A comments registrants are receiving 11:45 - Who should be involved in telling a company’s story in MD&A 14:56 - How the SEC's priorities influence comments in this area 19:41 - The importance of company compliance with the overarching principles of MD&A 24:20 - How emerging trends are impacting comment letters 33:12 - Advice for companies as they prepare their year-end filings Want to learn more? Check out our analysis of SEC comment letter trends and stay tuned for more episodes in the series. For more information on the SEC’s disclosure requirements pertaining to MD&A, check out our In depth on the amended rules and Topic 9 of the SEC’s Financial Reporting Manual . Kyle Moffatt is a partner in PwC's National Office where he 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. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Nov 29, 2022

In each episode of our 2022 SEC comment letter trends series, our guests bring you the latest themes in comment letters from the SEC’s Division of Corporation Finance. This week, Heather Horn sat down with Kyle Moffatt, a partner in PwC’s National Office, to discuss the SEC staff’s continued focus on non-GAAP measures and trending comment letter themes. In this episode you’ll hear discussion of: 1:15 - What non-GAAP measures are and how registrants use them 6:41 - The challenges and judgments associated with non-GAAP measures 9:32 - How the focus of the current SEC administration impacts the type and volume of comment letters 12:03 - The top non-GAAP comment letter trends and the importance of continuously reassessing these measures 20:58 - The interaction of current macroeconomic events and non-GAAP measures 27:34 - What companies should focus on when looking ahead to year-end reporting 31:12 - Final advice when responding to SEC staff comments on non-GAAP measures Want to learn more? Check out our analysis of SEC comment letter trends and stay tuned for more episodes in the series. For further information on non-GAAP measures with respect to business and market disruptions, take a look at the SEC Division of Corporate Finance’s guidance on disclosure considerations related to COVID-19 . Kyle Moffatt is a partner in PwC's National Office where he 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. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Nov 22, 2022

In each episode of our 2022 SEC comment letter trends series, our guests bring you the latest themes in comment letters from the SEC’s Division of Corporation Finance. This week, Heather Horn was joined by Valerie Wieman, a partner in PwC’s National Office, to discuss a brand new comment letter trend in 2022: climate change disclosures. Given the SEC’s ESG-focused agenda, it is not a surprise that climate takes the #3 spot on our list of top comment letter trends. In this episode you’ll hear discussion of: 0:56 - The history of the SEC’s focus on climate change and the issuance of the “Dear Issuer” letter of sample comments 3:57 - The existing 2010 SEC interpretive guidance on climate disclosures 8:58 - Specific examples of the types of comments frequently issued 11:53 - Lessons learned from registrant responses to the first round of staff comment letters 15:18 - The importance of focusing on the 2010 interpretive guidance until the SEC’s proposed climate disclosure rule is final 17:56 - Val’s final advice for year-end reporting Want to learn more? Check out our analysis of SEC comment letter trends and stay tuned for more episodes in the series. For more information on the SEC’s disclosure requirements pertaining to climate, read Don’t wait until the SEC staff asks you about climate change or listen to the audio version . To learn more about the SEC’s proposed climate disclosure requirements, listen to our podcast on the main provisions of the proposal . Valerie Wieman is PwC’s National Office Editor-in-chief. She is involved in the creation, development, and publication of our brand-defining thought leadership, with a focus on ESG reporting. Prior to this role, she was part of PwC’s National Office SEC Services group, helping clients navigate SEC rules and regulations. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Nov 15, 2022

In each episode of our 2022 SEC comment letter trends series, our guests bring you the latest themes in comment letters from the SEC’s Division of Corporation Finance. This week, Heather Horn sat down with Jay Seliber, a partner in PwC’s National Office, to discuss key themes noted in segment reporting comment letters. Jay also shared his insights on some of the challenges companies face with segment reporting. In this episode you’ll hear discussion of: 1:23 - The goal and approach of the segment reporting guidance 8:05 - Key themes in comment letters and why segment reporting continues to be an area of focus 14:59 - Specific examples of SEC staff comments and key considerations when aggregating operating segments 21:32 - SEC staff comments related to entity-wide disclosures and multiple performance measures 26:21 - FASB’s proposed changes to the segment guidance 32:26 - Jay’s final advice for segment reporting going into year-end Want to learn more? Check out our analysis of SEC comment letter trends and stay tuned for more episodes in the series. For further information on segment disclosures, listen to our Full disclosure podcast and read through our Financial statement presentation guide chapter on segment reporting . Jay Seliber is a partner in PwC’s National Office. He leverages over 30 years of experience to help clients with their most complex accounting matters, particularly in the areas of mergers and acquisitions, revenue recognition, stock compensation, earnings per share, employee benefits, restructurings, impairments, and financing transactions. Jay is presently PwC's representative on the FASB's Emerging Issues Task Force. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Nov 8, 2022

In each episode of our 2022 SEC comment letter trends series, our guests bring you the latest themes in comment letters from the SEC’s Division of Corporation Finance. This week, Heather Horn sat down with Angela Fergason, a partner in PwC’s National Office, who shared her insights on the comments on the top line of the income statement, revenue, from the SEC staff to registrants this year. In this episode you’ll hear discussion of: 1:24 - Trends noted in the volume and type of comments on revenue 6:04 - The increased focus on judgments made in disaggregated revenue disclosures 10:25 - Presentation of revenue and cost of revenue in the income statement 15:52 - The continued SEC staff focus on gross vs. net presentation and identification of performance obligations 19:52 - Comments on common industry-specific revenue arrangements 22:54 - Angela’s advice for listeners when looking ahead to year-end Want to learn more? Check out our analysis of SEC comment letter trends and stay tuned for more episodes in the series. We also have episodes specific to revenue, such as our revenue toolkit podcast miniseries that goes step by step through the revenue recognition model. Angela Fergason is a partner in PwC's National Office with over 20 years of experience who specializes in accounting for revenue and employee compensation arrangements. She also consults on a range of financial reporting issues impacting technology companies. Angela is a frequent speaker on accounting and financial reporting topics and is a contributor to many PwC National Office publications, including our accounting guides on revenue and stock-based compensation. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Nov 1, 2022

In each episode of our What’s trending in SEC comments series, our guests bring you the latest themes in comment letters from the SEC’s Division of Corporation Finance for the most common topical areas of the financial statements. To kick off the series, this week Heather Horn sat down with Kyle Moffatt, a partner in PwC’s National Office, to provide an overview of the 2022 comment letter trends, insights into the key priorities of the SEC, and what we can expect to see in the future based on the SEC’s agenda. In this episode you’ll hear discussion of: 1:41 - The SEC’s priorities and how they influence comment letters 10:38 - The top comment letter trends in 2022 16:03 - How companies should consider “Dear Issuer” letters in their year-end reporting 23:13 - The SEC staff’s approach to comment letters and what we expect in the near future 28:06 - The SEC staff’s comments in proxy statements 30:49 - Kyle’s advice for SEC registrants on what to do if they receive a comment letter Want to learn more? Check out our analysis of SEC comment letter trends and stay tuned for more episodes in the series. Kyle Moffatt is a partner in PwC's National Office where he 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. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Oct 25, 2022

In our Toolkit podcast series, we are taking a deep dive into one accounting topic each month that goes beyond the basics and into areas that require judgment. This month, we are covering fixed assets – from acquisitions and capitalization to disposals. In this episode, Heather Horn was joined by Reto Micheluzzi from PwC’s National Office to discuss asset disposals by sale and key judgments in assessing the held-for-sale criteria. In this episode, you will hear: 1:09 - An overview of the six criteria that need to be met for held-for-sale classification 4:24 - Key judgments involved in assessing the criteria and potential exceptions to the rule 12:28 - Measurement complexities including the order of impairment testing 16:49 - Triggers that cause an asset to no longer be considered as held for sale 19:49 - Final reminder when classifying assets as held for sale Want to learn more? Read our chapter on assets held for sale in our PP&E and other assets guide. Reto Micheluzzi is a partner in PwC’s National Office with over 25 years of experience solving companies’ most complex accounting and financial reporting issues, creating a path through the dense regulatory framework and bodies of rules. He has a deep understanding of the demands associated with today’s accounting complexities and potential SEC reporting issues, primarily related to M&A, consolidation, reorganizations, and income taxes. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Oct 20, 2022

The Task Force on Climate-related Financial Disclosures (TCFD) framework forms the basis of climate-related rules within each of the major ESG disclosure proposals released this year. The UK is the first jurisdiction to mandate reporting under the TCFD for listed companies. This requirement was effective for 2021, meaning these reports were available for the first time in 2022. Heather Horn sat down with Mark O’Sullivan, PwC UK’s Head of Corporate Reporting, and Hilary Eastman, Director of Investor Engagement at PwC, to discuss PwC’s observations on our review of the first 50 companies that reported under this mandate, as well as investor perspectives related to the filings. In this episode, our guests discuss: 3:23 - Overview of our review of TCFD reporting in the UK 10:06 - What we know about investor views on the importance of climate risk management 17:08 - The areas investors want to understand, including the relevance of climate risk to the business, and the related financial impacts 26:03 - Key challenges faced by companies when reporting under the TCFD framework 31:40 - How companies in different industries approached the disclosures 42:24 - The areas cited in reviews by the UK’s Financial Reporting Council (FRC) and Financial Conduct Authority (FCA) 47:09 - Advice for companies contemplating how best to prepare for future ESG disclosures Want to learn more about developments in ESG and TCFD? Read PwC UK’s report, The green shoots of TCFD reporting , along with our previous podcast on leveraging TCFD for climate-related disclosures . Also see the FRC ’s and FCA ’s reports on their reviews of TCFD disclosures, as well as the FRC’s lab report on net zero disclosures . Hilary Eastman leads global investor engagement at PwC and has extensive experience advising on ESG reporting strategy. She manages the firm’s relationships with the investment community in the UK and globally. In her role, Hilary works with investors and analysts to get their views on a variety of corporate reporting and governance matters to help companies improve their reporting to the capital markets. Mark O’Sullivan is PwC UK’s Head of Corporate Reporting. He has more than 15 years of experience advising leading organizations on current and best practices in reporting and the implementation of new reporting strategies to meet the needs of the capital markets. Mark also oversees PwC’s annual review of corporate reporting practices in the FTSE 350. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Oct 18, 2022

In our Toolkit podcast series, we are taking a deep dive into one accounting topic each month that goes beyond the basics and into areas that require judgment. This month, we are covering fixed assets – from acquisitions and capitalization to disposals. Jay Seliber, PwC National Office partner, is back in the guest seat to share insights on the capitalization of assets with our host, Heather Horn. In this episode, you will hear about: 4:39 - The first three capitalization stages: (1) preliminary exploration, (2) pre-acquisition, and (3) construction, and the types of costs that can be capitalized in each 13:42 - Capitalized interest - key considerations on timing and capitalization rate 20:10 - The fourth stage of capitalization: placing an asset in-service and the accounting for related costs 22:59 - The accounting for major maintenance 29:30 - Asset depreciation methods and key judgments in reassessing useful life 35:25 - Final reminders when capitalizing and depreciating fixed assets Want to learn more? Listen to our previous podcast in this series on asset acquisitions and read about the capitalization of costs in our PP&E and other assets guide. Aircraft major maintenance is discussed in the AICPA’s Airlines guide. Jay Seliber is a partner in PwC’s National Office. He leverages over 30 years of experience to help clients with their most complex accounting matters, particularly in the areas of mergers and acquisitions, revenue recognition, stock compensation, earnings per share, employee benefits, restructurings, impairments, and financing transactions. Jay is presently PwC's representative on the FASB's Emerging Issues Task Force. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Oct 4, 2022

In our Toolkit podcast series, we are taking a deep dive into one accounting topic each month that goes beyond the basics and into areas that require judgment. This month, we are covering fixed assets – from acquisitions and capitalization to disposals. In this episode, Heather Horn was joined by Beth Paul from PwC’s National Office to discuss the accounting guidance for asset acquisitions, including distinguishing an acquisition of an asset from the acquisition of a business, along with complexities that may be faced when accounting for asset acquisitions. In this episode, you will hear: 1:24 - An overview of the asset acquisition and business combination models 4:17 - How to use the screen test to identify asset acquisitions 9:21 - How to record asset acquisitions, and related transactions recognized separately 18:03 - Complexities faced by the buyer, including contingent consideration 24:06 - Key reminders for a seller when accounting for the disposal of an asset 26:01 - Final advice for those beginning the asset acquisition process Want to learn more? Listen to our podcast discussing the complexities faced in business combinations and asset acquisitions , and read our chapters on asset acquisitions in our PP&E and other assets guide and how to identify a business using the screen test in our Business combinations guide. 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. Prior to this role, Beth was the Strategic Thought Leader in PwC’s National office, working closely with firm leadership to determine PwC’s position on emerging trends in auditing, accounting, and financial reporting matters. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Sep 27, 2022

In our Toolkit podcast series, we take a deep dive into one accounting topic each month that goes beyond the basics and into areas that require judgment. This month, we are covering impairments – a complex topic with a variety of accounting and reporting considerations. In this episode, Heather Horn was joined by PwC National Office partner Andreas Ohl and PwC managing director Adam Smith to dive into goodwill and indefinite-lived intangible asset impairments, including the impact of current economic conditions on that assessment. In this episode, you will hear them discuss: 1:26 - Goodwill from an economic lens 7:23 - Measuring goodwill impairment at the appropriate unit of account 17:02 - Reminders for assessing triggering events and performing the quantitative test 29:12 - Key challenges seen in practice 32:32 - Assessing indefinite-lived intangible assets 39:34 - Final advice on assessing goodwill for impairment Want to learn more? Listen to other episodes in our impairment toolkit series on long-lived assets , inventory and other current assets , and financial instruments , along with previous podcasts on impairment accounting, including accounting for goodwill and other impairments and answers to your impairment valuation questions . For episodes on segments that address the identification of reporting units, check out disclosure requirements for segments , and 5 things to know about segment reporting . Adam Smith is a managing director with over 20 years of 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. Andreas Ohl is a partner in PwC's National Office focused on thought leadership, standard setting, and mergers and acquisitions under US GAAP and IFRS. In addition to his US responsibilities, he leads the sustainability topic team for the PwC global network. Andreas is chairman of the Business Valuation Standards Board at the International Valuation Standards Council, is a member of the working group that authored the AICPA's in-process R&D guide, and has served as a member of the FASB's Valuation Resource Group. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Sep 20, 2022

In our Toolkit podcast series, we take a deep dive into one accounting topic each month that goes beyond the basics and into areas that require judgment. This month, we are covering impairments – a complex topic with a variety of accounting and reporting considerations. In this episode, Heather Horn was joined by PwC National Office partner Matt Sabatini and PwC managing director Adam Smith to discuss another common area for impairment questions: long-lived assets. In this episode, you will hear them discuss: 1:20 - An overview of the impairment model for long-lived assets 7:53 - How to identify an asset group when performing an impairment test on assets to be held and used 11:58 - Types of impairment triggers and the two-step impairment test for assets to be held and used 31:42 - Right-of-use asset impairment considerations 33:14 - Impairment accounting under the held-for-sale model 36:44 - Key reminders for companies assessing the potential impairment of long-lived assets Want to learn more? Listen to other episodes in our impairment toolkit series on inventory and other current assets and financial instruments , along with previous podcasts on impairment accounting, including accounting for goodwill and other impairments and answers to your impairment valuation questions . Adam Smith is a managing director at PwC with over 20 years of valuation experience. His experience includes 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. Matt Sabatini is a partner in PwC's National Office with over 20 years of experience helping clients and engagement teams navigate the accounting and financial reporting for complex transactions. He specializes in the accounting for M&A, corporate reorganizations, recapitalizations, joint ventures, and other investments. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Sep 13, 2022

In our Toolkit podcast series, we take a deep dive into one accounting topic each month that goes beyond the basics and into areas that require judgment. This month, we are covering impairments – a complex topic with a variety of accounting and reporting considerations. In this episode, Heather Horn was joined by Bret Dooley, a partner in the National Office, and Shannon Detling, a partner in the Financial Markets practice, to discuss key considerations when working through the impairment accounting framework for financial instruments. In this episode, you will hear them discuss: 0:38 - An overview of the impairment model for equity and available-for-sale debt securities 6:07 - How current market conditions are impacting impairment assessments 11:15 - Highlights of the current expected credit losses (CECL) model for amortized cost assets 17:12 - Effect of macroeconomic trends when determining credit losses under CECL 29:03 - Consideration of risks and relevant controls in the credit loss estimation process 33:16 - Credit outlook for the future based on current trends 38:12 - Key reminders for companies thinking through the impairment model for financial instruments Want to learn more? Refer to the first episode in our impairment toolkit series on inventory and other current assets , along with previous podcasts on impairment accounting, including accounting for goodwill and other impairments and answers to your impairment valuation questions . Stay tuned for more insightful episodes in the coming weeks. Bret Dooley is a Deputy Chief Accountant in PwC’s National Office and the financial instruments accounting leader. He has over 25 years of experience specializing in the financial services, banking, and capital markets industries. Bret focuses on emerging financial reporting issues relating to financial instruments, developing interpretive guidance, and assisting clients in resolving complex accounting matters. Shannon Detling is a Partner within PwC’s Financial Markets group, specializing in financial instruments, financial risk management, and financing transactions. He has extensive knowledge of capital markets, changing regulation and policy, and evolving market conditions. Shannon advises clients on how to achieve their objectives and assists them in execution from strategy through to operations, valuation, and reporting, including design, implementation, and integration of systems, processes, and controls. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Sep 6, 2022

In our Toolkit podcast series, we take a deep dive into one accounting topic each month that goes beyond the basics and into areas that require judgment. This month, we are covering impairments – a complex topic with a variety of accounting and reporting considerations. In this episode, Heather Horn was joined by PwC partner Pat Durbin to discuss key considerations when working through the impairment accounting framework, including a focus on impairment considerations for inventory and other current assets. In this episode, you will hear them discuss: 1:05 - An overview of current macroeconomic factors that contribute to the impairment of assets 5:32 - An introduction to the impairment framework 12:01 - Impairment triggers for non-financial assets, including examples seen in practice 22:38 - Sector-specific considerations to keep in mind 25:10 - The inventory impairment model 31:53 - Impairment accounting for other current assets 38:43 - Key reminders as companies think through the impairment model Want to learn more? Refer to our previous podcasts on impairment accounting, including accounting for goodwill and other impairments and answers to your impairment valuation questions . Stay tuned for more insightful episodes in the coming weeks. Pat Durbin is a Deputy Chief Accountant, leading the revenue and liabilities division 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 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Aug 30, 2022

In our Toolkit podcast series, we take a deep dive into one accounting topic each month that goes beyond the basics and into areas that require judgment. This month, we are covering stock-based compensation – a complex subject with a variety of accounting and reporting considerations. In this episode, Heather Horn was joined by PwC partners Gina Klein and Jay Seliber to discuss the complexities of stock-based compensation accounting arising from merger and acquisition activity. In this episode, you will hear them discuss: 1:49 - Key business issues associated with stock-based awards in a transaction 6:14 - Accounting considerations for awards from the sale of a business 11:03 - Modifying awards in response to a planned change in control 20:36 - Considerations for vesting conditions tied to the closing of a transaction 24:05 - Transactions where the buyer replaces the seller’s awards 29:24 - Other common examples of award structuring as part of M&A activity 40:25 - Key points when accounting for stock-based awards during transactions Want to learn more? Refer to previous episodes in our Compensation toolkit series on challenges for private company awards , making sense of stock award modifications , equity or liability classification , and unraveling complex vesting conditions . Also refer to our Stock-based compensation guide for more helpful information. Gina Klein is a partner leading PwC’s HR Accounting Advisory practice in Workforce Transformation where she works with companies to address the financial reporting, design, and operational issues associated with employee compensation, including stock compensation, pension plans, and other employee benefit arrangements. Gina has also spent time in PwC’s National Office, advising clients on complex accounting matters related to employee compensation under both IFRS and US GAAP. Jay Seliber is a partner in PwC’s National Office. He leverages over 30 years of experience to help clients with their most complex accounting matters, particularly in the areas of mergers and acquisitions, revenue recognition, stock compensation, earnings per share, employee benefits, restructurings, impairments, and financing transactions. Jay is presently PwC's representative on the FASB's Emerging Issues Task Force. 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 us_podcast@ Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Aug 23, 2022

In our Toolkit podcast series, we take a deep dive into one accounting topic each month that goes beyond the basics and into areas that require judgment. This month, we are covering stock-based compensation – a complex subject with a variety of accounting and reporting considerations. In this episode, Heather Horn was joined by PwC National Office partners Jay Seliber and Ken Stoler to discuss private company-specific accounting considerations for stock compensation. In this episode, you will hear them discuss: 1:30 - Key differences between public and private companies when accounting for equity-classified stock awards 9:03 - Private company accounting considerations for liability-classified stock awards 13:38 - An overview of profits interest awards commonly seen at private companies 21:20 - Equity restructurings and key points to keep in mind 33:08 - Accounting for loans given to employees to purchase stock 50:18 - Where to find more information on stock compensation for private companies Want to learn more? Refer to previous episodes in our Compensation toolkit series on making sense of stock award modifications , equity or liability classification and unraveling complex vesting conditions . Also refer to our Stock-based compensation guide for more helpful information. Jay Seliber is a partner in PwC’s National Office. He leverages over 30 years of experience to help clients with their most complex accounting matters, particularly in the areas of mergers and acquisitions, revenue recognition, stock compensation, earnings per share, employee benefits, restructurings, impairments, and financing transactions. Jay is presently PwC's representative on the FASB's Emerging Issues Task Force. Ken Stoler is a partner in PwC’s National Office with over 25 years of experience. Ken specializes in financial reporting and plan design issues related to equity compensation arrangements, retirement and healthcare plans, and other benefits, helping companies navigate their employee compensation issues during an IPO, spin off, acquisition, or other major transaction or event. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Aug 18, 2022

The Inflation Reduction Act (the Act), signed into law on August 16, includes a number of green initiatives and incentives – but what are they, and how will they impact businesses? In this special episode, host Heather Horn was joined by Casey Herman and Matt Haskins, specialists in PwC’s ESG groups, to discuss the ESG initiatives that companies will have to consider as part of the Act. In this episode, you will hear them discuss: 2:25 - Background on the Act, and how it is structured to prioritize incentives rather than penalties for green innovation 7:58 - An overview of the major areas of credits in the law 16:09 - Perspective on the breadth of impact of the Act to the overall economy 19:32 - How electricity storage technology is needed to enable broader adoption of renewable electricity 26:33 - Examples of how companies in a variety of industries could be impacted by the Act 35:34 - The expected impacts of the Act in reducing greenhouse gas emissions 36:27 - Opportunities for entities not directly involved in generating tax credits to benefit from the Act 42:12 - Looking at the social incentives in the Act, and how these unlock additional credit dollars 48:24 - Constraints that companies will face as they work to take advantage of the incentives in the Act For more information about developments in ESG, listen to our previous podcast that provides insights into the ESG disclosures that matter to investors . Also refer to the text or audio version of our In the loop, The SEC wants me to disclose what ? Matt Haskins is a principal in PwC’s Washington National Tax Services, where he leads the firm's Cleantech tax practice, 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. Casey Herman is PwC’s US ESG Leader. Casey has over 35 years of experience leading and working on the audits of many significant, complex clients and is a member of the Edison Electric Institute's Wall Street Advisory Group, the Electric Power Research Institutes Advisory Council, and the NYU Stern Business School Center for Sustainable Business Advisory Council. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Aug 16, 2022

In our Toolkit podcast series, we take a deep dive into one accounting topic each month that goes beyond the basics and into areas that require judgment. This month, we are covering stock-based compensation – a complex subject with a variety of accounting and reporting considerations. In this episode, Heather Horn was joined by PwC National Office partners Jay Seliber and Ken Stoler to discuss a number of scenarios and accounting considerations related to stock-based compensation award modifications. In this episode, you will hear them discuss: 1:22 - An overview of stock option modifications 12:20 - Four types of modifications to awards with vesting conditions 29:22 - How to think through changes to the classification of an award 37:34 - Accounting for changes to performance conditions 45:52 - Working through changes to market conditions 53:22 - Final advice for companies dealing with stock option modifications Want to learn more? Refer to previous episodes in our Compensation toolkit series on equity or liability classification and unraveling complex vesting conditions , along with earlier podcasts on stock-based compensation including back to basics and presentation and disclosure . See also our Stock-based compensation guide. Stay tuned for more insightful episodes in the coming weeks. Jay Seliber is a partner in PwC’s National Office. He leverages over 30 years of experience to help clients with their most complex accounting matters, particularly in the areas of mergers and acquisitions, revenue recognition, stock compensation, earnings per share, employee benefits, restructurings, impairments, and financing transactions. Jay is presently PwC's representative on the FASB's Emerging Issues Task Force. Ken Stoler is a partner in PwC’s National Office with over 25 years of experience. Ken specializes in financial reporting and plan design issues related to equity compensation arrangements, retirement and healthcare plans, and other benefits, helping companies navigate their employee compensation issues during an IPO, spin off, acquisition, or other major transaction or event. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Aug 9, 2022

In our Toolkit podcast series, we take a deep dive into one accounting topic each month that goes beyond the basics and into areas that require judgment. This month, we are covering stock-based compensation – a complex subject with a variety of accounting and reporting considerations. In this episode, Heather Horn was joined by PwC National Office subject matter specialists Jay Seliber and Nicole Berman to discuss the challenging topic of classifying stock option awards as equity or a liability. In this episode, you will hear them discuss: 1:32 - An overview of equity and liability classification of stock options and their key differences 5:26 - Common examples of exceptions to the general classification rules 16:31 - Accounting for awards with redemption features 30:30 - How to think about awards with put or call features 36:56 - Accounting for awards with repurchase features 43:27 - Final advice for dealing with equity and liability classification of stock options Want to learn more? Refer to the first episode in our compensation toolkit series on unraveling complex vesting conditions , along with earlier podcasts on stock-based compensation podcasts including back to basics, award modifications and presentation and disclosure . For more on stock-based compensation, refer to our Stock-based compensation guide. Stay tuned for more insightful episodes in the coming weeks. Jay Seliber is a partner in PwC’s National Office. He leverages over 30 years of experience to help clients with their most complex accounting matters, particularly in the areas of mergers and acquisitions, revenue recognition, stock compensation, earnings per share, employee benefits, restructurings, impairments, and financing transactions. Jay is presently PwC's representative on the FASB's Emerging Issues Task Force. Nicole Berman is a Director in PwC's National Office. She advises clients on the accounting for complex transactions related to revenue recognition and employee compensation matters, including stock-based compensation, pensions, OPEB, and restructurings, under both US GAAP and IFRS. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Aug 2, 2022

In our Toolkit podcast series, we take a deep dive into one accounting topic each month that goes beyond the basics and into areas that require judgment. This month, we are covering stock-based compensation – a complex subject with a variety of accounting and reporting considerations. In this episode, Heather Horn was joined by Jay Seliber and Ken Stoler, partners from our National Office, who share accounting insights for stock-based compensation awards with vesting conditions. In this episode, you will hear them discuss: 1:47 - An overview of vesting conditions 11:04 - How different vesting conditions impact the measurement of an award and related expense recognition 17:36 - Typical types of performance vesting conditions and the related accounting 26:14 - The complexities of market vesting conditions and accounting 36:45 - How to think about awards with both performance and market conditions 45:52 - Final advice on accounting for stock-based compensation awards with vesting conditions Want to learn more? Refer to our previous podcasts on stock-based compensation, including back to basics, award modifications and presentation and disclosure , as well as our Stock-based compensation guide. Stay tuned for more insightful episodes in the coming weeks. Jay Seliber is a partner in PwC’s National Office. He leverages over 30 years of experience to help clients with their most complex accounting matters, particularly in the areas of mergers and acquisitions, revenue recognition, stock compensation, earnings per share, employee benefits, restructurings, impairments, and financing transactions. Jay is presently PwC's representative on the FASB's Emerging Issues Task Force. Ken Stoler is a partner in PwC’s National Office with over 25 years of experience. Ken specializes in financial reporting and plan design issues related to equity compensation arrangements, retirement and healthcare plans, and other benefits, helping companies navigate their employee compensation issues during an IPO, spin off, acquisition, or other major transaction or event. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jul 26, 2022

In our Toolkit podcast series, we take a deep dive into one accounting topic each month that goes beyond the basics and into areas that require judgment. This month we are covering derivatives–a complicated area that generates numerous questions. In this episode, Heather Horn was joined by Bret Dooley and Chip Currie, partners in PwC’s National Office, and Nick Milone, a partner in PwC’s Financial Markets practice, to share practical insights for navigating the implications of reference rate reform on LIBOR-based derivatives. In this episode, you will hear them discuss: 1:20 - The background on reference rate reform and how the discontinuation of LIBOR will impact companies 6:22 - The FASB’s response to reference rate reform (ASC 848) and its interaction with hedge accounting guidance 12:56 - How to think about LIBOR-based cash flow hedges 22:55 - How to think about LIBOR-based fair value hedges 33:12 - The FASB’s proposed extension of ASC 848 and final advice for companies with LIBOR-based derivatives Want to learn more? Listen to other episodes in our derivative toolkit series, Do I have a derivative? , Hedging debt with derivatives , and Deciphering foreign currency hedging . For more on reference rate reform, listen to our podcast and refer to our Reference rate reform guide. Bret Dooley is a Deputy Chief Accountant in PwC’s National Office and the financial instruments accounting leader. He has over 25 years of experience specializing in the financial services, banking, and capital markets industries. Bret focuses on emerging financial reporting issues relating to financial instruments, developing interpretive guidance, and assisting clients in resolving complex accounting matters. Chip Currie is a Partner in PwC’s National Office with over 25 years of experience assisting companies in resolving complex business and accounting issues. He concentrates on the accounting for financial instruments under both current and emerging standards and works with many of the firm's largest financial services clients and a number of non-financial service clients on treasury-related matters. Nick Milone is a partner in PwC’s Financial Markets practice where he advises companies on current financial instruments issues and the application of accounting standards. Prior to this role, Nick was a Practice Fellow on the financial instruments team at the FASB, where he helped lead the hedge accounting and recognition and measurement projects. 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. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jul 19, 2022

In our Toolkit podcast series, we take a deep dive into one accounting topic each month that goes beyond the basics and into areas that require judgment. This month we are covering derivatives–a complicated area that generates numerous questions. In this episode, Heather Horn was joined by Bret Dooley and Chris Gerdau from PwC’s National Office to dive into the complexities of applying hedge accounting to foreign currency hedges. In this episode, you will hear them discuss: 1:02 - An overview of foreign currency accounting 10:35 - Hedging of forecasted foreign currency transactions 18:26 - Net investment hedging and excluded components (“forward points”) 27:01 - What to focus on with hedges of foreign currency denominated debt 31:37 - Final advice and resources for more information Want to learn more? Listen to other episodes in our derivative toolkit series Do I have a derivative? and Hedging debt with derivatives , and refer to our Derivatives and hedging and Financial statement presentation guides. Bret Dooley is a Deputy Chief Accountant in PwC’s National Office and the financial instruments accounting leader. He has over 25 years of experience specializing in the financial services, banking, and capital markets industries. Bret focuses on emerging financial reporting issues relating to financial instruments, developing interpretive guidance, and assisting clients in resolving complex accounting matters. Chris Gerdau is a partner in PwC’s National Office specializing in accounting for financial instruments and banking-related topics. Chris also conducts technical reviews of SEC filings and provides technical support to PwC’s practice offices. With over 25 years of experience, Chris’s client service expertise includes the banking, capital markets, and insurance industries. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jul 12, 2022

In our Toolkit podcast series, we take a deep dive into one accounting topic each month that goes beyond the basics and into areas that require judgment. This month, we are covering derivatives–a complicated area that generates numerous questions. In this episode, Heather Horn was joined by Bret Dooley and Chip Currie from our National Office to dive into the complexities of accounting for hedges of debt. In this episode, you will hear them discuss: 1:30 - The economics of debt issuance and risk management decisions 4:01 - How derivatives fit into these decisions 8:55 - What to think about from a hedge accounting perspective 11:30 - Cash flow and fair value hedge models 20:46 - The impact of debt not denominated in your functional currency 24:03 - Advice for dealing with the complexities of applying hedge accounting Want to learn more? Listen to the first episode in our derivative toolkit series, Do I have a derivative? , and refer to our Derivatives and hedging and Financial statement presentation guides. Stay tuned for more insightful episodes in the coming weeks. Bret Dooley is a Deputy Chief Accountant in PwC’s National Office and the financial instruments accounting leader. He has over 25 years of experience specializing in the financial services, banking, and capital markets industries. Bret focuses on emerging financial reporting issues relating to financial instruments, developing interpretive guidance, and assisting clients in resolving complex accounting matters. Chip Currie is a Partner in PwC’s National Office with over 25 years of experience assisting companies in resolving complex business and accounting issues. He concentrates on the accounting for financial instruments under both current and emerging standards and works with many of the firm's largest financial services clients and a number of non-financial service clients on treasury-related matters. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jul 5, 2022

In our Toolkit podcast series, we take a deep dive into one accounting topic each month that goes beyond the basics and into areas that require judgment. This month, we are covering derivatives – a complicated area that generates numerous questions. In this episode, Heather Horn was joined by Bret Dooley and Chris Gerdau from our National Office to dive into how to identify derivatives, explaining how to navigate through the definition, scope exceptions, and embedded derivative analysis. In this episode, you will hear them discuss: 1:30 - How broad the definition of a derivative is and lesser known examples 4:21 - Applying the three criteria needed to meet the definition 14:15 - Understanding the scope exceptions 25:45 - What you need to know about the criteria for bifurcating embedded derivatives 32:00 - Common examples of embedded derivatives and “hidden” features that need to be assessed 35:10 - A summary of key takeaways and an update on derivative standard setting Want to learn more? Refer to our Derivatives and hedging guide and our Financial statement presentation guide, and stay tuned for more insightful episodes in the coming weeks. Bret Dooley is a Deputy Chief Accountant in PwC’s National Office and the financial instruments accounting leader. He has over 25 years of experience specializing in the financial services, banking, and capital markets industries. Bret focuses on emerging financial reporting issues relating to financial instruments, developing interpretive guidance, and assisting clients in resolving complex accounting matters. Chris Gerdau is a partner in PwC’s National Office specializing in accounting for financial instruments and banking-related topics. Chris also conducts technical reviews of SEC filings and provides technical support to PwC’s practice offices. With over 25 years of experience, Chris’s client service expertise includes the banking, capital markets, and insurance industries. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jun 28, 2022

In our Toolkit podcast series, we take a deep dive into one accounting topic each month that goes beyond the basics and into areas that require judgment. This month, we are covering leasing–a multifaceted area that generates numerous questions. In this episode, Heather Horn was joined by Jillian Pearce and Marc Jerusalem from our National Office to dive into how to detect potential embedded leases in service or supply contracts and assess contract terms in the context of the leasing criteria. In this episode, you will hear them discuss: 1:28 - The definition of a lease 4:53 - How to think about the “in exchange for consideration” part of the definition and “free” leases 10:34 - The identified asset criteria and “floating” leases 15:47 - The substitution rights criteria and how to assess the ability to economically benefit from substitution 20:52 - Common questions on understanding the right to substantially all economic benefits criteria 27:03 - The right to direct the use of the asset criteria and predetermined rights 38:07 - Common examples where embedded leases are found and final advice Want to learn more? Listen to our previous podcasts in our Leasing toolkit series on demystifying sale-leasebacks and build-to-suit arrangements , private company adoption and how to get lease measurements and modifications right . Jillian Pearce is a Partner in PwC's National Office, providing advice on financial instruments and other technical accounting issues to power and utilities clients. She was a Professional Accounting Fellow in the Office of the Chief Accountant at the SEC, and has over 15 years of auditing experience. Marc Jerusalem is a Director in PwC’s National Office specializing in leasing. Marc consults with clients on complex lease accounting issues and is a frequent contributor to many related PwC National Office publications. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jun 21, 2022

In our Toolkit podcast series, we take a deep dive into one accounting topic each month that goes beyond the basics and into areas that require judgment. This month, we are covering leasing–a multifaceted area that generates numerous questions. In this episode, Heather Horn was joined by Chad Soares and Marc Jerusalem from our National Office to breakdown the complexities of sale-leaseback transactions and build-to-suit lease arrangements. In this episode, you will hear: 1:24 - An overview of sale-leaseback transactions, including how the accounting changed in the updated leases standard 7:59 - A deeper dive into meeting the risks and rewards of ownership criteria and the treatment of purchase and put options 18:50 - Accounting for sale-leasebacks and questions about fair value 24:50 - What to do when transactions don’t qualify for sale-leaseback accounting 31:10 - An overview of build-to-suit arrangements and changes from the more form driven prior guidance 39:42 - Things to look out for in sale-leaseback and build-to-suit transactions 42:18 - Final advice for dealing with these complex arrangements Want to learn more? Listen to our previous podcasts in our Leasing toolkit series on private company adoption and how to get lease measurements and modifications right . Chad Soares is a partner in PwC's National Office focused on leasing and financing arrangements. He was a primary author of PwC’s Leases guide and continues to contribute to a variety of thought leadership related to leasing and financial instruments. Marc Jerusalem is a Director in PwC’s National Office specializing in leasing. Marc consults with clients on complex lease accounting issues and is a frequent contributor to many related PwC National Office publications. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jun 14, 2022

In our Toolkit podcast series, we take a deep dive into one accounting topic each month that goes beyond the basics and into areas that require judgment. This month, we are covering leasing–a multifaceted area that generates numerous questions. In this episode, Heather Horn was joined by C.J. Finn, a partner in PwC’s private company services group and Chad Soares and Marc Jerusalem from our National Office to discuss lessons learned and key judgments that need to be made for private company adoption. In this episode, you will hear: 1:12 - An overview of an effective adoption approach 6:03 - What previous adopters have learned about allocating the appropriate resources 11:19 - The definition of a lease under ASC 842 and recognition of lease and non-lease components 20:24 - Transition and practical expedients 29:18 - FASB standard setting activity to ease the burden of implementation 35:55 - Common legacy accounting issues that are challenging under the new standard 40:40 - Final advice on how to drive an effective implementation of ASC 842 Want to learn more? Listen to our previous podcast in our Leasing toolkit on how to get lease measurements and modifications right . Also, see our flowchart to think through lease classification in our Leases guide. C.J. Finn , PwC’s private company accounting change leader, has 18 years of experience working with public and private companies. He has advised large multinational clients on complex accounting areas, SEC reporting, system development, mergers and acquisitions, and purchase accounting and valuation. Chad Soares is a partner in PwC's National Office focused on leasing and financing arrangements. He was a primary author of PwC’s Leases guide and continues to contribute to a variety of thought leadership related to leasing and financial instruments. Marc Jerusalem is a Director in PwC’s National Office specializing in leasing. Marc consults with clients on complex lease accounting issues and is a frequent contributor to many related PwC National Office publications. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jun 7, 2022

In our Toolkit podcast series, we take a deep dive into one accounting topic each month that goes beyond the basics and into areas that require judgment. This month, we are covering leasing–a multifaceted area that generates numerous questions. In this episode, Heather Horn was joined by Suzanne Stephani and Marc Jerusalem, Directors from PwC’s National Office, to discuss the accounting guidance for some of the primary measurement and lease modification judgments that need to be made. In this episode, you will hear: 2:20 - Common questions related to lease measurement 7:38 - Considerations around variable payments 10:08 - Key concepts and tools when accounting for lease incentives 16:38 - Determining the lease term when there are automatic renewals 21:59 - The importance of periodic reassessment of the lease term for lessees 31:10 - How to select the correct discount rate 37:09 - Lease modifications: what they are and how to account for them Want to learn more? Listen to our previous podcast, Full disclosure: Leases , and read our chapter on modification and remeasurement of a lease in our Leases guide. Suzanne Stephani is a Director in PwC’s National Office specializing in the application and interpretation of the accounting guidance related to financing and leasing transactions as well as the cash flow statement. Marc Jerusalem is a Director in PwC’s National Office specializing in leasing. Marc consults with clients on complex lease accounting issues and is a contributor to many related PwC National Office publications. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jun 2, 2022

In this episode, Heather Horn was joined by Rich Goode from PwC's ESG practice and Jillian Pearce from PwC's National Office to focus on the accounting and reporting for carbon offsets and renewable energy credits (RECs), including how they’re addressed in the SEC’s climate disclosure proposal. In this episode, you will hear: 1:49 - An overview of RECs and carbon offsets 7:37 - What is renewable energy? 8:49 - Rich’s RSIO framework - reduce, switch, innovate, offset 11:56 - A refresher on scope 1, 2, and 3 greenhouse gasses in the GHG Protocol and how RECs and carbon offsets can be used to offset them 14:49 - RECs and carbon offsets in the SEC climate disclosure proposal 23:12 - Accounting for RECs and carbon offsets 34:27 - Why companies using only RECs and carbon offsets may be missing out 36:58 - Final advice for companies on use of offsets and RECs Want to learn more? Read our publication Accounting for your company’s zero-carbon future . And listen to our previous podcasts where we deep dive into GHG scope 1, scope 2 , and scope 3 . Rich Goode is a principal in PwC's ESG practice where he assists clients in the technology, media, and telecommunications sectors navigate key environmental, social, and governance issues. Leveraging 30 years of experience, Rich also currently serves as an Adjunct Lecturer at Harvard University. Jillian Pearce is a Partner in PwC's National Office, providing advice on financial instruments and other technical accounting issues to power and utilities clients. She was a Professional Accounting Fellow in the Office of the Chief Accountant at the SEC, and has over 15 years of auditing experience. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

May 31, 2022

In our Toolkit podcast series, we are taking a deep dive into one accounting topic each month that goes beyond the basics and into areas that require judgment. This month, we are covering income taxes–an area that generates numerous technical questions. In this episode, Heather Horn was joined by Jenn Spang and Matt McCann, partners in PwC’s National Office, to discuss valuation allowances, an often challenging topic that contains multiple decision points and requires ongoing evaluation. In this episode, you will hear: 2:02 - The definition of a valuation allowance 4:28 - An overview of the applicable accounting guidance 7:08 - Tips on when a timely scheduling analysis may be helpful 10:38 - Negative evidence represented by cumulative losses in recent years 16:05 - The relative weight of projections of future income 24:23 - How tax planning strategies factor into available evidence 31:24 - Common misconceptions in performing valuation allowance assessments 36:16 - Navigating reversals of valuation allowances: timing, documentation, and disclosures 42:04 - Takeaways on improving the process of performing valuation allowance assessments Want to learn more? Listen to the previous podcasts in our Tax toolkit in which we discuss how to consider uncertain tax positions , separate company financial statements , divestitures , and the scope of ASC 740 . Also, refer to the chapter on valuation allowances in our Income taxes guide. Jenn Spang is a partner in PwC’s National Office and serves as the income tax accounting leader, specializing in tax accounting under US GAAP and IFRS. She has over 25 years of experience helping companies in a variety of industries navigate complex tax accounting matters. Matt McCann is a partner in PwC's National Office who provides consultation in the areas of revenue recognition and income taxes. He has over 25 years of experience and previously served as the leader of the Consumer & Industrial Products Sector Assurance Practice in North Texas. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

May 17, 2022

In our Toolkit podcast series, we are taking a deep dive into one accounting topic each month that goes beyond the basics and into areas that require judgment. This month, we are covering income taxes–an area that generates numerous technical questions. Companies prepare separate financial statements of subsidiaries for various reasons, such as spin offs, regulatory requirements, or compliance with debt covenants. In this episode, Heather Horn was joined by Jenn Spang and Matt McCann, partners in PwC’s National Office, to discuss the accounting guidance for income tax provisions in separate company financial statements. In this episode, you will hear: 1:15 - An overview of guidance for allocating a tax provision to subsidiaries under ASC 740 6:26 - An introduction to the separate return method 12:15 - Common modifications to the separate return method, including benefits-for-losses 17:50 - How tax sharing agreements impact the provision and related balance sheet accounts 25:22 - How to account for uncertain tax positions in separate company financial statements 27:59 - Specific considerations for carve-out financial statements 35:33 - Final advice on how to effectively navigate the complexities of separate financial statements Want to learn more? Listen to our previous podcasts, Working with uncertain tax positions , and read about separate company financial statements in our Income taxes guide. Jenn Spang is a partner in PwC’s National Office and serves as the income tax accounting leader, specializing in tax accounting under US GAAP and IFRS. She has over 25 years of experience helping companies in a variety of industries navigate complex tax accounting matters. Matt McCann , is a partner in PwC's National Office who provides consultation in the areas of revenue recognition and income taxes. He has over 25 years of experience and previously served as the leader of the Consumer & Industrial Products Sector Assurance Practice in North Texas. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

May 10, 2022

In our Toolkit podcast series, we are taking a deep dive into one accounting topic each month that goes beyond the basics and into areas that require judgment. This month, we are covering income taxes–a multifaceted area that generates numerous technical questions. In this episode, Heather Horn was joined by Jenn Spang and Kassie Bauman from PwC’s National Office to discuss the accounting guidance for divestitures, focusing on some of the primary judgments. In this episode, you will hear: 4:06 - Considerations during the period of time that a company is contemplating a divestiture 8:38 - Key judgments when assessing valuation allowances before a divestiture is classified as held-for-sale 17:56 - How the timing of deferred tax liability reversals could impact valuation allowances 20:26 - Held-for-sale accounting: how to determine whether deferred taxes are included in the disposal group 28:32 - Financial statement presentation considerations for after the divestiture has occurred 42:20 - Additional focus areas to keep in mind for successful divestiture tax accounting Want to learn more? Listen to our previous podcast, Working with uncertain tax positions , and read about how a disposal impacts Valuation allowances in our Income taxes guide. Jenn Spang is a partner in PwC’s National Office and serves as the income tax accounting leader, specializing in tax accounting under US GAAP and IFRS. She has over 25 years of experience helping companies in a variety of industries navigate complex tax accounting matters. Kassie Bauman is a managing director in PwC's National Office who consults on tax accounting under US GAAP and IFRS. Kassie has more than 20 years of auditing and accounting experience, including significant experience addressing complex technical accounting matters as part of the firm’s National Office. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

May 3, 2022

In our Toolkit podcast series, we are taking a deep dive into one accounting topic each month that goes beyond the basics and into areas that require judgment. This month, we are covering income taxes–a multifaceted area that generates numerous technical questions. In this episode, Heather Horn was joined by Jennifer Spang and Kassie Bauman from PwC’s National Office to discuss the accounting guidance for uncertain tax positions, focusing on some of the primary judgments that need to be made. In this episode, you will hear: 1:32 - What constitutes an uncertain tax position (UTP) 5:11 - Rules covering the measurement and recognition of UTPs 9:32 - How to assess multiple outcomes and cumulative probability when recording UTPs 15:07 - Key judgments to exercise when evaluating the consistency of a position with administrative practice and precedence 23:58 - The importance of periodic reassessment and continuing to evaluate new information that could impact how UTPs are recorded 33:59 - Disclosure considerations 40:33 - Final advice on preparing disclosures and related documentation Want to learn more? Listen to our previous podcast, Uncertain tax positions: the basics , and read our chapter on Accounting for uncertainty in income taxes in our Income taxes guide. Jennifer Spang is a partner in PwC’s National Office and serves as the income tax accounting leader, specializing in tax accounting under US GAAP and IFRS. She has over 25 years of experience helping companies in a variety of industries navigate complex tax accounting matters. Kassie Bauman is a managing director in PwC's National Office who consults on tax accounting under US GAAP and IFRS. Kassie has more than 20 years of auditing and accounting experience, including significant experience addressing complex technical accounting matters as part of the firm’s National Office. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Apr 28, 2022

While market participants continue to discuss the potential impact of the SEC’s proposed climate disclosure rules, companies are currently receiving comment letters under existing SEC climate disclosure guidance. In this episode, Heather Horn and Valerie Wieman, partners in PwC’s National Office, bring you an audio version of our In the loop on the existing guidance , including: 1:35 - Background on SEC climate disclosure guidance, including its historical timeline 6:49 - The specific Regulation S-K items drawing the attention of the staff today 10:50 - Examples of the types of events that may require disclosure 15:21 - Example original and follow-up comments from the SEC staff about climate disclosures Refer also to the print version, Don’t wait until the SEC staff asks you about climate change . For more on the proposed guidance, refer to our publication, The SEC wants me to disclose what? The SEC’s climate disclosure proposal . Also, listen to our previous podcasts giving you a closer look at the proposal, along with legal and regulatory perspectives. Valerie Wieman is PwC’s National Office Editor-in-chief. She is involved in the creation, development, and publication of our brand-defining thought leadership, with a recent focus on ESG reporting. Prior to this role, she was part of PwC’s National Office SEC Services group, helping clients navigate SEC rules and regulations. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Apr 1, 2022

In the last of our four-episode series covering the implications of the war in Ukraine, we focus on accounting considerations for indirect impacts of the conflict, such as those related to customers. In this episode, Heather Horn was joined by Angela Fergason and Bret Dooley, partners in PwC’s National Office, to discuss some of the specific, but indirect, accounting topics and questions companies should consider. In this episode, you will hear: 1:52 - How to perform collectibility assessments for transactions with impacted customers 8:12 - Broad credit risk considerations that go beyond customers’ financial health 10:32 - Accounting considerations when a company chooses to discontinue customer relationships 13:25 - Dealing with payables to vendors in Russia when payment cannot be tendered due to sanctions 14:55 - Impairment and valuation considerations for financial assets 20:08 - Considerations for designated hedge transactions when the forecasted transaction may no longer be probable 23:22 - Key reminders: disclosures on collectibility and impairments, and careful consideration of any non-GAAP adjustments Want to learn more? Check out our previous podcasts covering the geopolitical implications of the war in Ukraine , an overview of the current state of sanctions , and accounting for impacted operations . Also read our publication, Implications of the Russian government's invasion of Ukraine . Angela Fergason is a partner in PwC's National Office with over 20 years of experience who specializes in accounting for revenue and employee compensation arrangements. She also consults on a range of financial reporting issues impacting technology companies. Angela is a frequent speaker on accounting and financial reporting topics and is a contributor to many PwC National Office publications, including our accounting guides on revenue and stock-based compensation. Bret Dooley is a Deputy Chief Accountant in PwC’s National Office and the financial instruments accounting leader, with over 25 years of experience specializing in the financial services, banking, and capital markets industries. He focuses on emerging financial reporting issues relating to financial instruments, developing interpretive guidance, and assisting clients in resolving complex accounting matters. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Mar 31, 2022

In the third of four episodes covering the implications of the war in Ukraine, we focus on accounting considerations for operations that have been impacted by the conflict. In this episode, Heather Horn was joined by Jay Seliber and Reto Micheluzzi, partners in PwC’s National Office, to discuss some of the specific accounting topics and questions companies may need to consider. In this episode, you will hear: 1:52 - Factors that determine whether deconsolidation of impacted subsidiaries may be necessary 7:12 - How to account for deconsolidation 14:18 - Impairment considerations for non-financial assets 18:46 - Devaluation of the Ruble and related foreign currency impacts 22:10 - When to present operations in Russia as assets held for sale 26:25 - Other areas to revisit for impairment assessments, including inventory and equity method investments 29:11 - How the war in Ukraine is exacerbating supply chain disruptions, and the related accounting implications 32:48 - The importance of quality information as well as transparent and timely disclosures about material issues Want to learn more? Check out our previous podcasts covering the geopolitical implications of the war in Ukraine and an overview of the current state of sanctions , and read our publication, Implications of the Russian government's invasion of Ukraine . Jay Seliber is a partner in PwC’s National Office. He leverages over 30 years of experience to help clients with their most complex accounting matters, particularly in the areas of mergers and acquisitions, revenue recognition, stock compensation, earnings per share, employee benefits, restructurings, impairments, and financing transactions. Jay is presently PwC's representative to the FASB's Emerging Issues Task Force. Reto Micheluzzi is a partner in PwC’s National Office with over 25 years of experience solving companies’ most complex accounting and financial reporting issues, creating a path through the dense regulatory framework and bodies of rules. He has a deep understanding of the demands associated with today’s accounting complexities and potential SEC reporting issues, primarily related to M&A, consolidation, reorganizations, and income taxes. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Mar 30, 2022

In the second of four episodes covering the implications of the war in Ukraine, we focus on understanding the nature of sanctions that have been imposed on Russia, and their implications for businesses. Heather Horn was joined by Eric Lorber, a principal in PwC’s Cyber, Risk & Regulatory Consulting Solutions practice and Jeannette Chu, a Managing Director in PwC’s Export Controls and Trade Sanctions group, who took a deep dive into US and other government sanctions, with some important insights for finance professionals to consider. In this episode, you will hear: 3:12 - The reasons countries have moved quickly and in a multilateral fashion to enact current sanctions 6:03 - Comparison of the current sanctions with those imposed on Russia in 2014 12:26 - Overview of the different categories of restrictions that have been put into place since the beginning of the conflict 16:03 - Explanations of specific export and import controls 19:50 - Perspectives on the challenges of sanctions for companies and what’s driving the most compliance questions 26:44 - What potential expulsion from the G20 would mean for Russia, and discussion of the overall intent and objectives of the sanctions 34:54 - Viewpoints on the effectiveness of sanctions in achieving the desired result 41:14 - Important next steps for the finance organization, including reviews of compliance programs and other key action items Want to learn more? Check out our previous podcast covering the geopolitical implications of the war in Ukraine . Eric Lorber is a Principal in PwC’s Cyber, Risk, & Regulatory practice who advises financial institutions, fintech firms, and other global clients on issues related to compliance with sanctions, anti-money laundering, and anti-terrorism financing rules. Prior to joining PwC, he was a senior advisor to the Undersecretary for Terrorism and Financial Intelligence at the United States Department of the Treasury. Jeannette Chu is a Managing Director in PwC’s Export Controls and Trade Sanctions group, helping companies address compliance risks and challenges. She was formerly a senior US diplomat with leadership positions at the US mission in China for over twelve years, serving as the key subject matter expert on a broad range of complex policy issues, including strategic trade, export controls, and immigration. 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 us_podcast@pwc.com. Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Mar 29, 2022

In the first of four episodes covering the implications of the war in Ukraine, we focus on the geopolitical and macroeconomic impacts that are likely to occur as the conflict continues. Heather Horn was joined by Craig Stronberg, a director in PwC Intelligence, to take us through potential scenarios to expect in the near term. In this episode, you will hear: 1:41 - How the business environment is responding to global themes of fragmentation, regulation, and reorientation 9:36 - Reasons why countries are generally aligned in their responses to the conflict 13:56 - Broad impacts from the conflict that have implications for the future 16:48 - Offshoring versus “re”-shoring: expectations for US industrial policy 26:12 - Access to products produced in Russia and Ukraine, and the challenges posed by restrictions and conflict 34:08 - Key elements for companies to focus on to navigate through the months ahead 37:20 - Important questions for the CFO to consider 40:12 - Green initiatives and the impact of the conflict on transition Want to learn more? Check out our previous podcasts with PwC Intelligence, Special episode: Geopolitical and economic outlook for 2022 . Craig Stronberg leads the Business Acumean capability for PwC Intelligence, spearheading the team of analysts that provides macroeconomic, sector and geopolitical intelligence to key stakeholders. Named as one of the "100 Most Creative People in Business” by Fast Company, Craig had a nearly 20 year career in national security affairs working for and advising numerous agencies and international partners, having been decorated five times. His focus has been on numerous areas, including counterintelligence, economic espionage, counterterrorism, cyber threats, political-military issues, special operations integration, and support for major events such as the Olympic Games. 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, as well as periodic webcasts for the power and utilities industry. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Mar 29, 2022

In our Toolkit podcast series, we are taking a deep dive into one accounting topic each month that goes beyond the basics and into areas that require judgment. This month, we are covering each of the five steps in the revenue recognition model. In this episode, Heather Horn was joined by Angela Fergason and Pat Durbin, partners in PwC’s National Office, to discuss step five of the model: recognizing revenue. In this episode, you will hear: 3:15 - Over time recognition - the three criteria to determine whether control transfers over time 10:51 - Measures of progress that can be used in over time recognition 13:12 - The importance of selecting a method that best depicts the transfer of control, and when a time-based measure of progress may be appropriate 18:45 - The “right to invoice” practical expedient 22:04 - Point in time recognition and the five indicators that control has transferred 28:33 - The impact of repurchase rights in determining whether control has transferred 33:39 - Specific considerations for acceptance clauses 35:13 - Licenses of intellectual property (IP), including how functional IP and symbolic IP are treated differently Want to learn more? Read our chapter on Recognizing revenue in our Revenue guide. Angela Fergason is a partner in PwC's National Office with over 20 years of experience who specializes in accounting for revenue and employee compensation arrangements. She also consults on a range of financial reporting issues impacting technology companies. Angela is a frequent speaker on accounting and financial reporting topics and is a contributor to many PwC National Office publications, including our accounting guides on revenue and stock-based compensation. Pat Durbin is a Deputy Chief Accountant in PwC’s National Office and the leader of the revenue and liabilities division. He has over 30 years of experience consulting with 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 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Mar 22, 2022

In our Toolkit podcast series, we are taking a deep dive into one accounting topic each month that goes beyond the basics and into areas that require judgment. This month, we are covering each of the five steps in the revenue recognition model. In this episode, Heather Horn was joined by Angela Fergason and Mike Coleman, partners in PwC’s National Office, to discuss step four of revenue recognition: allocating the transaction price. In this episode, you will find: 01:19 - The core objective of step four: allocating based on relative standalone selling price 04:03 - Common approaches to estimating standalone selling price 10:47 - How to apply the residual approach (for use in limited circumstances) 15:03 - Special considerations for the allocation of discounts and variable consideration 20:11 - The importance of consistency 26:11 - Key tips about making judgments in your process of estimation Want to learn more? Listen to our previous Revenue toolkit episodes in which we discuss how to identify the contract , identify performance obligations , and determine the transaction price . Read chapter 5, Allocating the transaction price , in our Revenue from contracts with customers guide. Angela Fergason is a partner in PwC's National Office with over 20 years of experience who specializes in accounting for revenue and employee compensation arrangements. She also consults on a range of financial reporting issues impacting technology companies. Angela is a frequent speaker on accounting and financial reporting topics and is a contributor to many PwC National Office publications, including our accounting guides on revenue and stock-based compensation. Mike Coleman is a partner in PwC's National Office with over 30 years of experience. He specializes in accounting for revenue and software arrangements. Prior to his time in National, Mike was an audit partner in the firm's NY Metro assurance practice serving technology clients. In addition, he has been one of the firm's represented the firm on the AICPA Software Task Force. 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, as well as periodic webcasts for the power and utilities industry. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Mar 15, 2022

In our Toolkit podcast series, we are taking a deep dive into one accounting topic each month that goes beyond the basics and into areas that require judgment. This month, we are covering each of the five steps in the revenue recognition model. In this episode, Heather Horn was joined by Angela Fergason and Alexandra Pascu from PwC’s National Office, to discuss step three of revenue recognition: determining the transaction price. In this episode, you will find: 3:18 - Determining whether the contract contains significant financing components 7:52 - How noncash and variable consideration impact the transaction price 12:32 - Methods for estimating variable consideration, and considering the measurement constraint 19:54 - The key judgments needed for service level agreements or similar arrangements 24:54 - Evaluating payments to customers as a form of variable consideration, and how they impact the transaction price 26:58 - Key takeaways: step three in a nutshell, and additional resources Want to learn more? Read the Determining the transaction price chapter in our Revenue guide. Listen to our previous podcasts on Variable consideration: How it impacts your top and bottom line and Payments to customers? Receipts from vendors? Help! . Angela Fergason is a partner in PwC's National Office with over 20 years of experience who specializes in accounting for revenue and employee compensation arrangements. She also consults on a range of financial reporting issues impacting technology companies. Angela is a frequent speaker on accounting and financial reporting topics and is a contributor to many PwC National Office publications, including our accounting guides on revenue and stock-based compensation. Alexandra Pascu is a director in PwC’s National Office with over 9 years of experience. She focuses on revenue recognition, software costs, stock-based compensation, and inventory. Prior to this role, Alexandra led audits of companies ranging from small emerging growth companies to public multinationals. 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, as well as periodic webcasts for the power and utilities industry. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Mar 10, 2022

PwC’s accounting podcast became a book club this week as Heather Horn was joined by Matt Mani and Paul Leinwand of PwC's Strategy&—co-authors of the book: Beyond Digital: How Great Leaders Transform Their Organizations and Shape the Future . Together they discuss seven imperatives of leadership that have enabled successful large-scale business transformations, and the lessons that today’s finance organizations can learn from these transformations. In this episode, you will hear: 4:40 - The leadership imperatives that companies should focus on, including how they can begin to reimagine their place in the world and create value via ecosystems 16:06 - What it means to build a system of privileged insights with customers and how it helps to make your organization outcome-oriented 20:42 - Reinventing engagement and the social contract with your people to address emerging challenges, such as the great resignation 26:16 - Inverting the focus of organizational leadership to drive transformation in a dynamic and collaborative way 30:48 - Disrupting your own leadership to grow your skill sets and begin change from within 38:02 - Key lessons to jumpstart your overall transformation Want to learn more? The Beyond Digital landing page has links to additional resources, reviews, and where to find the book. Matt Mani is a partner for PwC’s Strategy& consulting practice. With over 29 years of experience, he focuses on helping companies achieve business model, cost, and performance transformations. He is the co-author of the book Beyond Digital: How Great Leaders Transform Their Organizations and Shape the Future , and multiple articles in Harvard Business Review and Strategy+business magazine. Paul Leinwand is a thought leader on strategy, growth, and capability building for PwC’s Strategy& consulting practice. With over 24 years of experience, he has authored numerous books, as well as articles in the Harvard Business Review and Strategy+business magazine. He currently teaches at Kellogg School of Management as an Adjunct Professor of Strategy. 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, as well as periodic webcasts for the power and utilities industry. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Mar 8, 2022

In our Toolkit podcast series, we are taking a deep dive into one accounting topic each month that goes beyond the basics and into areas that require judgment. This month, we are covering each of the five steps in the revenue recognition model. This week Heather Horn was joined by Angela Fergason and Mike Coleman, partners in PwC’s National Office, to discuss revenue step two: identifying the performance obligations. Angela and Mike share the key points to consider carefully, especially because this step dictates the units of account for the entire contract. In this episode, you will hear: 4:57 - How to find all relevant promises to the customer, and how to treat implied promises 9:29 - The criteria utilized to assess whether a good or service is “distinct” 16:30 - How to account for promises to transfer a series of distinct goods or services 22:05 - How to treat a customer’s option to purchase additional goods or services 27:20 - How selling a “solution” may comprise multiple performance obligations, and other key final reminders Want to learn more? Read chapter 3, Identifying performance obligations , in our Revenue from contracts with customers guide. Angela Fergason is a partner in PwC's National Office with over 20 years of experience who specializes in accounting for revenue and employee compensation arrangements. She also consults on a range of financial reporting issues impacting technology companies. Angela is a frequent speaker on accounting and financial reporting topics and is a contributor to many PwC National Office publications, including our accounting guides on revenue and stock-based compensation. 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. 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, as well as periodic webcasts for the power and utilities industry. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Mar 1, 2022

In our Toolkit podcast series, we are taking a deep dive into one accounting topic each month that goes beyond the basics and into areas that require judgment. This month, we are covering each of the five steps in the revenue recognition model. In this episode, Heather Horn was joined by Angela Fergason and Pat Durbin, partners in PwC’s National Office, to discuss step one of revenue recognition: identifying the contract. While it may appear straightforward, there are some judgments to be made and getting it right is critical for the rest of the revenue recognition process. In this episode, you will find: 03:10 - Determining the applicability of accounting guidance for each arrangement 12:19 - The five criteria that determine whether a contract exists for accounting purposes 15:28 - Collectibility considerations 22:10 - What to do if the criteria for contract existence are met after the initial assessment 24:38 - How enforceable rights and obligations, rather than a stated term, dictate the contract term 29:49 - Key takeaway: the importance of not taking shortcuts through the step one assessment Want to learn more? Read Chapter 2 of our Revenue guide on scope and identifying the contract . Angela Fergason is a partner in PwC's National Office with over 20 years of experience who specializes in accounting for revenue and employee compensation arrangements. She also consults on a range of financial reporting issues impacting technology companies. Angela is a frequent speaker on accounting and financial reporting topics and is a contributor to many PwC National Office publications, including our accounting guides on revenue and stock-based compensation. Pat Durbin is a partner in PwC’s National Office and has over 30 years of experience. He has expertise in financial reporting and extensive experience serving board, C-suite, and senior management level executives across a variety of industries and geographies both in the US and internationally. 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, as well as periodic webcasts for the power and utilities industry. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Feb 1, 2022

In each episode of our Year-end toolkit series, you’ll find something relevant to the year-end reporting process. This week Heather Horn was joined by Michael Mullen, PwC’s US Trust Solutions Quality Management leader, to discuss the SEC’s guidance on financial statement materiality and error evaluations. In this episode you’ll hear them discuss: 1:25 - What’s changed since the SEC staff issued its accounting bulletin (SAB 99) in 1999, and what’s the same 8:45 - Some “common sense” qualitative factors that should be considered 10:35 - Evaluating the impact of errors on consensus estimates, analyst expectations, and balance sheet-related covenants 18:01 - The dynamics of management compensation and involvement of upper management in intentional misstatements 21:01 - How to perform a quantitative evaluation, and the differences between a restatement and a revision 38:17 - The general presumption of a material weakness in cases of restatement 41:02 - Managing the misstatement evaluation process and the recent reminders from the SEC staff Want to learn more? Listen to our previous podcasts in the Year-end toolkit series, Reminders from PwC’s National Office , Statement of cash flows , and Resolving complex issues . Michael Mullen is PwC’s US Trust Solutions Quality Management leader. In this role he oversees complex client issues, providing technical insights and expertise in support of overall quality. With over 30 years of client service experience, Michael has led numerous global client engagements. 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, as well as periodic webcasts for the power and utilities industry. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jan 18, 2022

In each episode of our Year-end toolkit series, you’ll find something relevant to the year-end reporting process. This week Heather Horn was joined by Gerry Flynn, PwC’s National Office leader, to discuss a topic that can be a source of stress for preparers during the relatively short time between year end and year-end reporting: how to manage issues to resolution effectively. In this episode you’ll hear them discuss: 3:12 - The importance of a defined escalation protocol 6:06 - Taking emotion out of the process 12:06 - The importance of a thorough assessment 18:30 - Managing CFO and audit committee expectations 23:02 - When to involve auditors 31:10 - Control implications and performing an effective “post-mortem” Gerry also shares his perspective on managing through the current COVID-19 variant surge, and the need for contingency plans during this time. Want to learn more? Listen to our previous podcasts in the series, Year-end toolkit: Reminders from PwC’s National Office and Year-end toolkit: Statement of cash flows Gerry Flynn is the leader of PwC’s National Office, overseeing the firm’s accounting, auditing, SEC, and other quality-related specialists. Prior to joining the National Office, Gerry spent nearly 30 years serving many of the firm’s largest clients in diverse industries, from entertainment and professional sports to life sciences, biotech, and pharmaceuticals. 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, as well as periodic webcasts for the power and utilities industry. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jan 11, 2022

In each episode of our Year-end toolkit series, you’ll find something relevant to the year-end reporting process. This week Heather Horn was joined by Chris Gerdau and Suzanne Stephani from PwC’s National Office to talk about key reminders on the statement of cash flows that preparers will want to keep in mind as they finalize their reporting. In this episode you’ll hear them discuss: 2:39 - Cash, cash equivalents, and restricted cash 7:26 - Gross versus net presentation 9:28 - Non-cash transactions 13:07 - Business combinations and asset acquisitions 20:23 - Equity issuances 22:16 - PP&E purchases 24:58 - Equity method investee distributions 29:49 - Leases 31:47 - Foreign operations Want to learn more? Listen to our podcast Full disclosure: The statement of cash flows For more year end reminders, read or listen to The quarter close - fourth quarter 2021 Suzanne Stephani is a director in PwC’s National Office specializing in the application and interpretation of the accounting guidance related to financing and leasing transactions as well as the cash flow statement. Chris Gerdau is a partner in PwC’s National Office specializing in accounting for financial instruments and banking related topics. Chris also conducts technical reviews of SEC filings and provides technical support to PwC’s practice offices. With over 25 years of experience, Chris’s client service expertise includes the banking, capital markets, and insurance industries. 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, as well as periodic webcasts for the power and utilities industry. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Dec 23, 2021

In our Talking ESG podcast series, we give an end-to-end look at what it takes to build effective ESG reporting in today’s environment. From investor to stakeholder expectations, from global frameworks to data, process, and controls—there’s something in it for everyone. This week Heather Horn sat down with Brigham McNaughton, a managing director in PwC’s ESG practice, to discuss a topic that’s top of mind for many preparers: data quality and the processes needed to produce investment-grade ESG reporting. Topics include: 1:43 - What is the current state of data quality? As ESG reporting becomes more prevalent, the ability to produce quality data has become a necessity. Brigham gives listeners an overview of the questions companies face and how they can go about taking stock of the maturity level of their processes. 8:45 - The challenges of ESG disclosures. Brigham and Heather discuss some of the challenges of ESG reporting and how to move forward when you can’t get to the right data. For companies that are at an early stage of process maturity, it is often more efficient to address data quality on the front end before deciding what to report. 17:46 - What are some best practices? Brigham shares some practices he has observed while working with various companies, including what the leaders in this space are doing. He covers how to identify a team, set up processes, and even appropriate governance. 30:48 - What departments should be involved? There are many ways to advance the quality of data in ESG reporting. Brigham explains which departments often have a hand in helping move the needle on data quality. 41:19 - Key takeaways. Brigham and Heather discuss some practical advice for listeners as they begin or continue to evolve their ESG processes. Want to learn more? Listen to our previous podcasts in this series, Talking ESG: Evolving your reporting for impact , Talking ESG: How SEC proposals may shape future reporting , and Talking ESG: How new EU rules may impact your reporting . Brigham McNaughton is a managing director in PwC’s ESG practice. He has served global clients in a range of industries including utilities, automotive, and financial services, advising on core ESG strategy development and stakeholder engagement. Brigham has worked closely with the Sustainability Accounting Standards Board (SASB) on a variety of reporting initiatives. Heather Horn is a Deputy Chief Accountant in PwC’s National Office and leader of the thought leadership group, 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, as well as periodic webcasts for the power and utilities industry. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Dec 21, 2021

In each episode of our What’s trending in SEC comments series, our guests bring you the latest themes in comment letters from the SEC’s Division of Corporation Finance for the most common topical areas of financial reporting. This week we focus on non-GAAP measures. Kyle Moffatt, a partner in PwC’s National Office, joined Heather Horn to break down some of the questions raised in these comments, giving you a deeper understanding of the SEC staff’s expectations, as well as context and insights into the non-GAAP rules. Topics include: 1:35 - Background on non-GAAP measures. Disclosing non-GAAP measures is a common way companies supplement their financial statement disclosures to further tell the story of their businesses. Kyle gives some helpful background and examples of some commonly utilized measures. 8:57 - Presenting non-GAAP measures. There can be pitfalls associated with these alternative measures. Kyle and Heather discuss what issuers should keep in mind when deciding how to present them. 22:30 - What types of comments are companies receiving? Kyle discusses the main themes of the SEC staff’s non-GAAP comments. Common questions relate to prominence relative to GAAP metrics, the reconciliation of each non-GAAP metric to GAAP, and the appropriateness of adjustments, among others. 27:43 - Key takeaways and reminders. We close with some future areas to pay attention to and helpful advice for year-end reporting. Heather tries to stump Kyle with some niche accounting and pop culture questions. Want to learn more? Listen to our previous comment letter podcasts on MD&A , Debt, warrants, and equity , Revenue , Goodwill , Inventory and cost of sales , and Segment reporting Listen to What you missed at the 2021 AICPA Conference In the loop: To GAAP or to non-GAAP COVID-19: What you should know See our overview of SEC Comment Letter Trends Staff Accounting Bulletin Topic 11 B SEC Non-GAAP Financial Measures: Questions and Answers of General Applicability Kyle Moffatt is a partner in PwC's National Office where he consults with engagement teams and audit clients on SEC reporting matters. He joined PwC in April 2020 after spending almost 20 years with the SEC. Transcripts available upon r Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Dec 2, 2021

In our Talking ESG podcast series, we give an end-to-end look at what it takes to build effective ESG reporting in today’s environment. From investor to stakeholder expectations, from global frameworks to data, process, and controls—there’s something in it for everyone. This week Heather Horn sat down with Steve Bochanski, PwC’s Climate Risk Modeling leader, to discuss ESG reporting with a focus on the Task Force on Climate-related Financial Disclosures (TCFD) and how it may affect your company. Topics include: 6:09 - What is the TCFD? The Task Force on Climate-related Financial Disclosures was established to focus on providing stakeholders with information about climate-related risks. Heather and Steve talk through the background of the TCFD and how it’s different from other ESG reporting frameworks. 10:48 - Making a risk assessment. Most listeners will be familiar with the physical risks associated with climate change, and many companies already have processes in place to address them. But there’s also transition risk, which is less well-understood. Steve and Heather discuss how to get started assessing both of these risk categories and how correctly identifying risks upfront can improve your reporting. 19:54 - Who is adopting the TCFD recommendations? The Task Force has structured its guidance for broad adoption across industries. Steve walks listeners through the steps involved in adoption and who should be involved from the organization. 28:29 - Stakeholders and data quality. Most organizations have done more work than they think in their focus on conventional risk assessment processes that can be useful in a TCFD disclosure. Steve explains how companies can use these processes to accelerate their climate reporting process. Steve and Heather also talk through the importance of data quality. 36:57 - Advice for listeners. Steve and Heather discuss some practical advice for companies that have adopted or are planning to adopt aspects of the TCFD framework. Steve provides his perspective on what the future holds for climate-related disclosures. Want to learn more? Listen to our previous podcasts in this series, Talking ESG: How SEC proposals may shape future reporting , Talking ESG: A focus on the Global Reporting Initiative , and Talking ESG: How new EU rules may impact your reporting . Steve Bochanski leads PwC's US Climate Risk Modeling team, comprising actuaries, financial engineers, and climate scientists, and other actuarial activities in the ESG space. He also leads PwC’s Actuary of the Future initiative globally, focusing on actuarial modernization, upskilling, and corporate risk modeling beyond the insurance sector. Heather Horn is a Deputy Chief Accountant in PwC’s National Office and leader of the thought leadership group, 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, as well as periodic webcasts for the power and utilities industry. Transcripts available upon request for individuals w Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Nov 30, 2021

In each episode of our What’s trending in SEC comments series, our guests bring you the latest themes in comment letters from the SEC’s Division of Corporation Finance for the most common topical areas of the financial statements. This week we focus on debt, warrants, and equity. Tom Barbieri , a Deputy Chief Accountant in PwC’s National Office, and John Horan , Managing Director in PwC’s National Office, joined Heather Horn to break down some of the questions raised in these comments, giving you a deeper understanding of the SEC staff’s expectations, as well as context and insights into the GAAP requirements. Topics include: 1:46 - What types of comments are companies getting? Tom and John discuss the main themes of comments. Common questions relate to SPAC warrants and earnouts, debt modifications, preferred stock, embedded derivatives, and EPS. 4:51 - SPAC warrants and earnouts. Accounting for SPAC warrants and earnouts can be complicated. John and Heather discuss the types of questions the SEC is asking on this topic and some best practices for determining the appropriate accounting. 17:34 - Debt modifications and extinguishments. Accounting for a troubled debt restructuring, debt modifications, or extinguishment can be complex. Tom and Heather discuss some tips for getting disclosures about these transactions right the first time. 23:51 - Preferred stock. John and Heather talk about the SEC staff’s interest in particular topical areas when asking about preferred stock. 31:05 - Embedded derivatives. Tom and Heather discuss accounting for embedded conversion features and other redemption provisions, and the importance of providing the right level of context for these in your disclosures. 33:51 - Earnings per share. EPS has continued to be an ongoing area of focus for the SEC staff. John explains some of the areas that might give rise to a comment. 40:03 - Key takeaways and reminders. We close with some future areas to pay attention to and helpful advice for issuers to address these issues heading into year end. Heather tries to stump Tom and John with some niche accounting questions. Want to learn more? Listen to our previous comment letter podcasts: Revenue: What’s trending in SEC comments , Goodwill: What’s trending in SEC comments , and Inventory and cost of sales: What’s trending in SEC comments , Segment reporting: What’s trending in SEC comments Financial statement presentation guide: Chapter 5: Stockholders’ Equity , Chapter 12: Debt , Chapter 19: Derivatives and Hedging Transcripts available upon request for indi Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Nov 10, 2021

This week we have a special episode focused on the FASB’s new guidance related to contract assets and contract liabilities (i.e., deferred revenue) acquired in a business combination (ASU 2021-08). Host Heather Horn is joined by Andreas Ohl and Jay Seliber, PwC National Office partners, to talk about key changes and considerations in the new rules, and the timing of adoption. Topics include: 1:19 - Background. Jay and Andreas begin by discussing the scope of the newly-issued guidance, and the reasons why the rules are changing. 6:45 - Overview of application. Jay and Andreas provide more specifics on the application of the new guidance, including some important changes from existing GAAP, and why the amounts to record under the new standard won’t in some cases just be a carryover of the target’s balances. 19:43 - A reminder about valuations. Jay and Andreas explain how valuations of intangible and other assets will - and won’t - be affected by the new guidance. 22:23 - Key impact areas. Jay and Andreas take us through some of the most significant ways the new standard is expected to impact companies in the periods after a business combination. 28:26 - Effective date and transition. What’s the timing and method of adoption? Jay and Andreas wrap up with an overview of the effective date and transition aspects of the new guidance, along with key elements to carefully consider before simply jumping into the new standard. Heather tries to stump Jay and Andreas with some niche accounting questions. Want to learn more? Read our In depth: Accounting for acquired contract assets and contract liabilities . Andreas Ohl is a partner in PwC's National Office focused on thought leadership, standard setting, and mergers and acquisitions under US GAAP and IFRS. Andreas is chairman of the Business Valuation Standards Board at the International Valuation Standards Council, is a member of the working group that authored the AICPA's in-process R&D guide, and has served as a member of the FASB's Valuation Resource Group. Jay Seliber is a partner in PwC’s National Office. He leverages over 30 years of experience to help clients with their most complex accounting matters, particularly in the areas of mergers and acquisitions, revenue recognition, stock compensation, earnings per share, employee benefits, restructurings, impairments, and financing transactions. Jay is presently PwC's representative to the FASB's Emerging Issues Task Force. 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, as well as periodic webcasts for the power and utilities industry. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Nov 9, 2021

In each episode of our What’s trending in SEC comments series, our guests bring you the latest themes in comment letters from the SEC’s Division of Corporation Finance for the most common topical areas of the financial statements. This week we focus on goodwill. Jay Seliber, PwC National Office Partner, joined Heather Horn to break down some of the questions raised in these comments, giving you a deeper understanding of the SEC staff’s expectations, as well as context and insights into the GAAP requirements. Topics include: 1:40 - What types of comments are companies getting? Jay and Heather discuss the main themes of comments. Common questions relate to the determination of reporting units, the timing of goodwill impairments, and disclosures of impairments and at-risk goodwill. 4:30 - Reporting units . Jay gives an overview of comments that issuers have received about their determination of reporting units and how to avoid some common pitfalls. 10:41 - What about the timing of goodwill impairments? Impairment tests require a significant amount of judgment. Jay and Heather discuss how to navigate this complex area and some tips for identifying impairment indicators early to head off questions over timing. 15:04 - Disclosures of impairments and at-risk reporting units. Jay and Heather discuss how to appropriately foreshadow at-risk reporting units, as well as a few often-overlooked disclosures that may solicit comments. 23:58 - Key takeaways and reminders. Jay closes with helpful advice for issuers when responding to an SEC comment letter. Heather tries to stump Jay with some niche accounting questions. Want to learn more? Listen to our previous comment letter podcast Revenue: What’s trending in SEC comments Read section 8.9, Goodwill , in our Financial Statement Presentation guide See our overview of SEC Comment Letter Trends Jay Seliber is a partner in PwC’s National Office. He leverages over 30 years of experience to help clients with their most complex accounting matters, particularly in the areas of mergers and acquisitions, revenue recognition, stock compensation, earnings per share, employee benefits, restructurings, impairments, and financing transactions. Jay is presently PwC's representative to the FASB's Emerging Issues Task Force. 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, as well as periodic webcasts for the power and utilities industry. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Nov 2, 2021

In each episode of our What’s trending in SEC comments series, our guests bring you the latest themes in comment letters from the Division of Corporation Finance for the most common topical areas of the financial statements. This week we focus on revenue. Angela Fergason, PwC National Office partner, joined Heather Horn to break down the questions raised in SEC comments, giving you a deeper understanding of the SEC staff’s expectations and context and insights into the GAAP requirements. Topics include: 1:20 - What types of comments are companies getting? Angela and Heather discuss the different types of comments and give some examples of when each has come up. Common questions relate to completeness of disclosures, consistency with other disclosures, and requests for supporting analysis. And one hint for preparers: don’t use boilerplate language! 10:46 - Top elements of revenue guidance sourcing comments. Angela gives five topics where comments have been more prevalent: disaggregated revenue, determining the transaction price, identifying performance obligations, principal vs. agent, and timing of revenue recognition. 21:14 - What’s ahead? Angela shares what might be around the corner as attention is increasing for certain comments, including separately reporting certain categories of revenue in compliance with S-X Rule 5-03(b). 23:34 - Perspectives on responding. Angela closes with two pieces of advice for issuers when responding to an SEC comment letter. Heather tries to stump Angela with some niche accounting questions. Want to learn more? Listen to Angela’s other podcast episodes on revenue, including Full disclosure: Revenue , Identifying performance obligations: PwC breaks it down , and Variable consideration: How it impacts your top and bottom line . Angela Fergason is a partner in PwC's National Office with over 20 years of experience who specializes in accounting for revenue and employee compensation arrangements. She is a frequent speaker on accounting and financial reporting topics and is a contributor to many PwC National Office publications, including our accounting guides on revenue and stock-based compensation. 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, as well as periodic webcasts for the power and utilities industry. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Oct 26, 2021

Our Full disclosure podcast series brings you back to the basics on all things related to financial statement presentation and disclosure, from the top of the financial statements through the footnotes. This week we focus on the presentation and disclosure requirements for commitments and contingencies. Jay Seliber, PwC National Office partner, is back in the guest seat to share helpful insights and key reminders with our host, Heather Horn. Topics include: 1:22 - Background. Jay and Heather discuss the scope of the commitments and contingencies guidance, including discussion of guarantees. 4:43 - Presentation on the balance sheet and income statement. Jay walks listeners through when commitments need to be recognized. He also covers the contingency model and related presentation, including insurance recoveries. 20:03 - Disclosure requirements. Jay takes us through the disclosure requirements for commitments and contingencies in the financial statements, including some of the areas that require more judgment. 39:42 - Closing remarks. Jay closes with areas of GAAP where disclosures of other types of commitments are required. Heather tries to stump Jay with some niche accounting questions. Want to learn more? Financial statement presentation guide Chapter 23: Commitments, contingencies, and guarantees Jay Seliber is a partner in PwC’s National Office. He leverages over 30 years of experience to help clients with their most complex accounting matters, particularly in the areas of mergers and acquisitions, revenue recognition, stock compensation, earnings per share, employee benefits, restructurings, impairments, and financing transactions. Jay is presently PwC's representative to the FASB's Emerging Issues Task Force. 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, as well as periodic webcasts for the power and utilities industry. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Oct 12, 2021

Our Full disclosure podcast series brings you back to the basics on all things related to financial statement presentation and disclosure, from the top of the financial statements through the footnotes. This week we focus on the presentation and disclosure requirements for segments. Jay Seliber, PwC National Office partner, is back in the guest seat to share helpful insights and key reminders with our host, Heather Horn. Topics include: 1:15 - Overview of segments. Jay explains the underlying objective of segment reporting and the importance of allowing financial statement users to see the company through the eyes of management. 4:45 - Identification of operating segments. Jay defines an operating segment, including how to interpret their key characteristics. He also walks through how to determine your Chief Operating Decision Maker. 11:38 - Identification of reportable segments. Next, Jay discusses how to assess which operating segments must be presented as reportable segments in the footnotes, including aggregation criteria and quantitative thresholds. 19:43 - Disclosure requirements. Jay takes us through the disclosure requirements for segments in the financial statements, including some of the areas that require more judgment. 32:32 - Closing Remarks. Jay closes with final reminders and a project update from the FASB. Heather tries to stump Jay with some accounting questions. Want to learn more? Financial statement presentation guide on segment reporting . Q3 2021 Quarterly accounting webcast includes a section on segment reporting comment letter trends FASB project page: Segment Reporting Jay Seliber is a partner in PwC’s National Office. He leverages over 30 years of experience to help clients with their most complex accounting matters, particularly in the areas of mergers and acquisitions, revenue recognition, stock compensation, earnings per share, employee benefits, restructurings, impairments, and financing transactions. Jay is presently PwC's representative to the FASB's Emerging Issues Task Force. 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, as well as periodic webcasts for the power and utilities industry. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Oct 5, 2021

Our Full disclosure podcast series brings you back to the basics on all things related to financial statement presentation and disclosure, from the top of the financial statements through the footnotes. This week we focus on the presentation and disclosure requirements for business combinations. Jay Seliber, PwC National Office partner, is back in the guest seat to share some helpful insights with our host, Heather Horn. Topics include: 1:15 - Scope of business combinations. Jay explains the applicability of the business combinations guidance to different types of transactions. 3:24 - Balance sheet. Jay highlights the presentation rules on the balance sheet and addresses a common question about the classification of contingent consideration. 6:30 - Income statement. Jay takes us through the presentation requirements for business combinations on the income statement, including some of the areas that require more judgment - think previously held equity interests, mark-to-market adjustments on contingent consideration, and tax indemnifications. 10:23 - Statement of cash flows. Jay breaks down the cash flow presentation rules for common aspects of business combinations transactions, including debt financing and contingent consideration. 18:21 - Disclosure requirements. Jay outlines both GAAP and SEC disclosure requirements on business combinations. 41:20 - Key takeaways. Jay closes with final reminders. Heather tries to stump Jay with some accounting history questions. Want to learn more? Read: Chapter 17: Business combinations of our Financial statement presentation guide. In depth, SEC amends disclosure rules for acquired and disposed businesses In depth, Domestic SPAC mergers - financial reporting and accounting considerations Jay Seliber is a partner in PwC’s National Office. He leverages over 30 years of experience to help clients with their most complex accounting matters, particularly in the areas of mergers and acquisitions, revenue recognition, stock compensation, earnings per share, employee benefits, restructurings, impairments, and financing transactions. Jay is presently PwC's representative to the FASB's Emerging Issues Task Force. 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, as well as periodic webcasts for the power and utilities industry. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Sep 28, 2021

Our Full disclosure podcast series brings you back to the basics on all things related to financial statement presentation and disclosure, from the top of the financial statements through the footnotes. This week we focus on equity method investments and consolidation matters—think majority interests and variable interest entities (VIEs). Matt Sabatini, PwC National Office partner, is back again to share helpful insights and key reminders. Topics include: 1:12 - Consolidation. Matt and Heather begin with an overview of the purpose of, and requirements for, consolidated financial statements. 11:04 - Variable interest entities. Matt and Heather tackle VIEs first—how are they presented? What are the disclosure objectives and requirements? Our guest also explains what’s different if you’re not the primary beneficiary. 22:25 - Other consolidation considerations. Matt dives into a few exceptions to the rules, common SEC comments, and other considerations. 30:46 - Equity method investments. Not required to consolidate? Matt describes the presentation and disclosure objectives and requirements for equity method investments. 45:06 - Other key reminders. Matt gives more reminders for preparing equity method investment disclosures and offers some final words of advice. Want to learn more? Read our Financial statement presentation guide on equity method investments and consolidation . Or check out our Equity method investments and joint ventures and Consolidation guides for questions about accounting. Matt Sabatini is a partner in PwC's National Office with over 20 years of experience helping clients and engagement teams navigate the accounting and financial reporting for complex transactions. He specializes in the accounting for M&A, corporate reorganizations, recapitalizations, joint ventures, and other investments. Heather Horn is a Deputy Chief Accountant in PwC’s National Office and leader of the thought leadership group, 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, as well as periodic webcasts for the power and utilities industry. 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Sep 21, 2021

Our Full disclosure podcast series brings you back to the basics on all things related to financial statement presentation and disclosure, from the top of the financial statements through the footnotes. This week we focus on a lessee’s presentation and disclosure requirements for leases. Suzanne Stephani and Marc Jerusalem, PwC National Office directors, are back in the guest seats to share helpful insights and key reminders. Topics include: 1:15 - Balance sheet and income statement. Marc and Suzanne start with the balance sheet and income statement, highlighting the presentation for finance vs. operating leases, current vs. non-current, and more. 10:55 - Statement of cash flows. Suzanne explains how to avoid common stumbling blocks when presenting lease transactions in the statement of cash flows. 15:33 - Disclosure requirements. Lessees have a long list of qualitative and quantitative disclosure requirements that need to be met. Marc details where to start and what to watch out for. 24:11 - Leases in light of current events. The current economic environment has disrupted some companies’ leasing strategies. Marc and Suzanne provide some insight on how this may impact their presentation and disclosures. 29:47 - Wrap-up. Heather tries to stump Suzanne and Marc with a few trivia questions before they provide final reminders and advice for companies accounting under ASC 842. Want to learn more? Read our guides for those who have adopted ASC 842 and those still applying ASC 840 . Suzanne Stephani is a director in PwC’s National Office specializing in the application and interpretation of the accounting guidance related to financing and leasing transactions as well as the cash flow statement. Marc Jerusalem is a director in PwC’s National Office specializing in leasing. Marc consults with clients on complex lease accounting issues and is a contributor to many related PwC National Office publications. Heather Horn is a Deputy Chief Accountant in PwC’s National Office and leader of the thought leadership group, 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, as well as periodic webcasts for the power and utilities industry. With nearly 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Sep 14, 2021

Our Full disclosure podcast series brings you back to the basics on all things related to financial statement presentation and disclosure, from the top of the financial statements through the footnotes. This week we focus on presentation and disclosure requirements for derivatives and hedge accounting. Bret Dooley and Steve Halterman are in the guest seats to share helpful insights and key reminders. Topics include: 4:14 - Balance sheet and income statement. Bret and Steve begin with an overview of how to present derivative instruments, whether in accounting hedges or or economic hedges. 12:52 - Disclosure requirements. There’s a long list of required disclosures for companies with derivatives. Bret and Steve help break down the objectives of the disclosures and discuss the key disclosures for fair value and cash flow hedges. 20:10 - Other key reminders. Bret highlights key reminders for interim reporting and reference rate reform, and Steve shares some expedients for private companies. 27:00 - Closing. Bret and Steve provide some final reminders and advice for companies with derivatives. Want to learn more? Read our Derivatives and hedging guide for guidance on accounting questions and our Financial statement presentation guide for help with presentation and disclosure requirements. Bret Dooley is a Partner in PwC’s National Office with over 25 years of experience specializing in the financial services, banking and capital markets industries. He focuses on emerging financial reporting issues relating to financial instruments, developing interpretive guidance, and assisting clients in resolving complex accounting matters. Steve Halterman is a Director in PwC’s National Office with over 25 years of experience in auditing and accounting, with a focus on derivatives and hedging for the last 20 years. He assists clients with accounting issues for financial instruments, derivatives, hedging, and the statement of cash flows and contributes to PwC guidance and publications. Heather Horn is a Deputy Chief Accountant in PwC’s National Office and leader of the thought leadership group, 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, as well as periodic webcasts for the power and utilities industry. With nearly 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Sep 9, 2021

Special-purpose acquisition companies (SPACs) have been around for some time, but in the last 24 months there have been an unprecedented number of companies going public via a SPAC transaction. In our Facts on SPACs mini-series, we cut through the noise to help you focus on some of the key issues relating to these transactions. In the final episode of our six-part series on SPACs, Mike Bellin, PwC’s IPO Services co-leader, is back to wrap-up our deep dive into SPACs. Mike and Heather reflect on how the SPAC market has continued to evolve and key considerations as companies prepare for going public. Topics include: 1:09 - Developments in the past month. One month since our first conversation on SPACs - what’s happened in the market since then, and how have things evolved? Mike explains. 11:54 - SPAC strategy. There is an endless task list and many agreements to reach before going public. Mike highlights five items commonly negotiated between SPACs and their targets. 18:14 - Being public. We’ve talked about the difficulties companies face when shifting from private to public. Mike gives his take on the challenges he sees and some advice for companies dealing with this transition. 26:44 - Final words. We’ve covered a breadth of topics in the past few weeks. Mike leaves us with some final advice for listeners contemplating a SPAC or going public (hint: preparation is key). Want to learn more? Explore our Roadmap for an IPO: A guide to going public and listen to all the other episodes from our “ Facts on SPACs series” Facts on SPACs: New trends in 2021 Facts on SPACs: Are you sure who’s the acquirer? Facts on SPACs: A focus on warrants, earnouts, and EPS Facts on SPACs: Compensation arrangements Facts on SPACs: Accounting differences between private and public Mike Bellin is a PwC Deals partner and co-leads PwC’s IPO Services practice. Mike focuses on IPOs, SPACs, accounting for carve-outs/spin-offs, purchase accounting, pro forma financial statements, stock compensation, the SEC registration process, and much more. In addition, he frequently advises on IPOs, helping his clients with their initial registration process and operational readiness. 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, as well as periodic webcasts for the power and utilities industry. With nearly 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 us_podcast@pwc Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Sep 7, 2021

Our Full disclosure podcast series brings you back to the basics on all things related to financial statement presentation and disclosure, from the top of the financial statements through the footnotes. This week we focus on loans and receivables, including how the credit losses standard, with its current expected credit loss (CECL) model, changed the presentation and disclosure requirements. Tom Barbieri and Bret Dooley, PwC National Office partners, sat down with our host, Heather Horn, to share insights and reminders in the post-adoption world. Topics include: 2:05 - Balance sheet and income statement . Tom and Bret begin with an overview of what to present on two of the primary financial statements for loans and receivables. 10:08 - Disclosure requirements . Tom highlights key disclosures for companies with loans receivable assets. He addresses requirements from accounting policies through credit quality indicators. 18:53 - Allowance for credit losses . Bret dives into the required disclosures for companies that develop an allowance reserve estimate and explains the information that financial statements users need to understand non-performing receivables. 26:08 - Cash flows . Tom gives a few key reminders for getting the right geography when presenting loans in your statement of cash flows. 28:05 - SEC filings and comment trends . Tom and Bret discuss interim presentation and disclosure requirements and comment trends from the SEC after the first year of CECL. 32:31 - Wrap up . Heather tries to stump Tom and Bret with a few questions from pre-CECL periods before Tom and Bret provide some advice and resources when preparing credit disclosures. Want to hear more about CECL? Check out some of our past podcasts and videos: The CECL standard - 5 things you need to know COVID-19: CECL consideration questions, answered CECL disclosures: Year-end reminders CECL - Impacts for nonfinancial services companies Tom Barbieri is a Deputy Chief Accountant in PwC’s National Office and the financial instruments accounting leader. He has nearly 30 years of experience advising clients on complex accounting and financial reporting issues relating to financial instruments. During Tom’s tenure in the National Office, he has been at the forefront of emerging accounting issues and has regular interactions with the FASB, SEC, and other regulators and standard setters. Bret Dooley is a Partner in PwC’s National Office with over 25 years of experience specializing in the financial services, banking and capital markets industries. He focuses on emerging financial reporting issues relating to financial instruments. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Sep 2, 2021

Special-purpose acquisition companies (SPACs) have been around for some time, but in the last 24 months there have been an unprecedented number of companies going public via a SPAC transaction. In our Facts on SPACs mini-series, we cut through the noise to help you focus on some of the key issues relating to these transactions. In episode five of our six-part series on SPACs, Heather is joined by Jay Seliber, PwC National Office partner, and John Horan, PwC National Office managing director, to talk through key accounting and reporting differences between private and public company financial statements and to share related insights and reminders. Topics include: 1:11 - Mezzanine equity. Found somewhere between liabilities and shareholders’ equity, John explains what mezzanine equity is and the SEC’s rules for presenting it. 9:58 - Earnings per share. A complicated area, made even more so by the complex capital structures commonly seen in the operating companies involved in a SPAC—Jay and John highlight some key areas of focus when computing earnings per share for the first time. 18:43 - GAAP alternatives for private companies. Sometimes referred to as Private Company Council accounting alternatives, John breaks down three accounting alternatives that can be elected by private companies but would need to be unwound before your first SEC filing. 23:12 - New accounting standards and additional disclosures for public companies. For public companies, there are a number of incremental required disclosures across many topics as compared to private companies. Additionally, most ASU adoption dates come quicker when compared to private companies—Jay and John explain. 30:45 - Wrap-up. Going from a private to public company can be a lot of work. Jay and John close with which areas they think may need the most attention. Want to learn more? Explore our Financial statement presentation guide for specific topics and listen to some of our past podcasts mentioned by Jay and John: Facts on SPACs: A focus on warrants, earnouts, and EPS Full disclosure: Earnings per share (EPS) Stock-based compensation issues in an IPO and SPAC, explained . Jay Seliber is a partner in PwC’s National Office. He leverages over 30 years of experience to help clients with their most complex accounting matters, particularly in the areas of mergers and acquisitions, revenue recognition, stock compensation, earnings per share, employee benefits, restructurings, impairments, and financing transactions. Jay is presently PwC's representative to the FASB's Emerging Issues Task Force. John Horan is a managing director in PwC’s National Office with almost 15 years of experience assisting clients with complex accounting issues. With particular expertise in foreign currencies, liabilities and equity, earnings per share, and derivatives and hedging, John uses his expertise to help companies with large capital transactions and IPOs. Transcripts available upon request for indiv Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Aug 31, 2021

Our Full disclosure podcast series brings you back to the basics on all things related to financial statement presentation and disclosure, from the top of the financial statements through the footnotes. This week we focus on the presentation and disclosure requirements for revenue. Angela Fergason is joining us again to break down revenue from contracts with customers and what needs to be included in your financial statements. Topics include: 1:15 - Income statement and balance sheet. Angela opens with a quick overview of how to present revenue on the income statement and balance sheet, and a few reminders of key requirements. 11:29 - Disaggregated revenue. Angela gives an overview of the five major disclosure areas for revenue and dives into requirements around disaggregating revenue. 16:23 - Performance obligations. Angela explains the quantitative and qualitative disclosure requirements for performance obligations, paying particular attention to those related to remaining performance obligations—which are often the most time consuming to prepare. 21:27 - Remaining disclosures. Angela covers the final three primary areas of disclosures for public companies: significant judgments, contract balances, and cost to obtain or fulfill a contract 27:47 - Non-public companies. Angela highlights which disclosures apply to non-public companies, and which don’t. 29:05 - Closing. Heather tries to stump Angela with a few revenue and ASC 606 trivia questions before Angela provides some final advice and reminders to companies evaluating their disclosures. Want to hear more about revenue from Angela? Check out some of our past podcasts: Identifying performance obligations: PwC breaks it down Variable consideration: How it impacts your top and bottom line Revenue contract costs: capitalize or expense? Revenue contract modifications: 5 things you need to know Also listen to Full disclosure: The balance sheet to learn more about balance sheet offsetting and see our Financial statement presentation guide for more details on presentation and disclosure for revenue. Angela Fergason is a partner in PwC's National Office with over 20 years of experience who specializes in accounting for revenue and employee compensation arrangements. She is a frequent speaker on accounting and financial reporting topics and is a contributor to many PwC National Office publications, including our accounting guides on revenue and stock-based compensation. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Aug 26, 2021

Special-purpose acquisition companies (SPACs) have been around for some time, but in the last 24 months there have been an unprecedented number of companies going public via a SPAC transaction. In our Facts on SPACs mini-series, we cut through the noise to help you focus on some of the key issues relating to these transactions. In episode four of our six-part series on SPACs, Jay Seliber, PwC National Office partner, is back again. This time he’s explaining how to apply compensation guidance to certain arrangements common in a SPAC transaction. Topics include: 1:08 - Identification. Jay explains how to identify instruments subject to the compensation guidance and the most common instruments used as compensation in SPAC transactions. 15:23 - What to look out for. Jay highlights pitfalls he’s seen in past SPAC deals and how to plan ahead to avoid them. 18:18 - EPS. Jay shares how earnouts and warrants impact EPS when they’ve been determined to be compensatory and not financial instruments. 21:18 - Key takeaways. Jay shares where to find more information and gives some parting advice to companies on navigating SPAC transactions. Want to learn more? Read our Stock-based compensation and Financial statement presentation guides. And listen to our podcast, Stock-based compensation issues in an IPO and SPAC, explained . Jay Seliber is a partner in PwC’s National Office. He leverages over 30 years of experience to help clients with their most complex accounting matters, particularly in the areas of mergers and acquisitions, revenue recognition, stock compensation, earnings per share, employee benefits, restructurings, impairments, and financing transactions. Jay is presently PwC's representative to the FASB's Emerging Issues Task Force. 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, as well as periodic webcasts for the power and utilities industry. With nearly 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Aug 24, 2021

Our Full disclosure podcast series brings you back to the basics on all things related to financial statement presentation and disclosure, from the top of the financial statements through the footnotes. This week we focus on the fair value disclosure requirements for other liabilities—specifically payables, contingencies, and asset retirement obligations (AROs). Pat Durbin and John Brittain are in the guest seats to share helpful insights and key reminders Topics include: 1:23 - Accounts and notes payable. Pat and John explain the presentation and disclosure requirements for payables and highlights key requirements in S-X Rule 5-02. 9:02 - Contingencies. Pat dives into accounting considerations for environmental liabilities as well as general presentation and disclosure matters for other contingencies. 20:19 - AROs. John breaks down the disclosure requirements for AROs and what to do when they cannot be reasonably estimated. 24:45 - Wrap up. Heather tries to stump Pat and John with two challenging questions, and Pat and John provide some final advice to companies to consider while preparing their financial statements. Want to learn more? Read our Financial statement presentation guide on other liabilities and contingencies . Pat Durbin is a Deputy Chief Accountant, leading the revenue and liabilities division in PwC’s National Office. He has nearly 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. John Brittain is a partner in PwC's National Office with over 30 years of experience helping clients and engagement teams navigate the accounting and financial reporting considerations related to business combinations, as well as issues in the energy and utilities sector. 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, as well as periodic webcasts for the power and utilities industry. With nearly 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Aug 19, 2021

Special-purpose acquisition companies (SPACs) have been around for some time, but in the last 24 months there have been an unprecedented number of companies going public via a SPAC transaction. In our Facts on SPACs mini-series, we cut through the noise to help you focus on some of the key issues relating to these transactions. In episode three of our six-part series on SPACs, Chip Currie, PwC National Office partner, discusses common financial instruments associated with SPAC transactions and their treatments. Topics include: 0:44 - Background. Chip introduces two common arrangements associated with SPAC transactions and explains how equity-linked financial instruments issued prior to a merger with an operating company often survive the acquisition. 12:52 - Accounting treatment. Chip dives into the accounting model for certain warrant and earn-out arrangements and a recent opinion on this topic from the SEC. 23:02 - Earnings per share. Once the instruments have been issued and the accounting treatment determined, the focus shifts to calculating earnings per share. Chip highlights the basics you need to know. 32:22 - Key takeaways. Chip closes with some advice to consider before diving into a complicated accounting assessment. Little differences can have a big impact, so make sure to understand the facts and terms of your specific agreements. Want to learn more? Read our In depth, Domestic SPAC mergers - financial reporting and accounting considerations and our Financing and Financial statement presentation guides. Also see the SEC staff statement on Accounting and Reporting Considerations for Warrants Issued by SPACs . Chip Currie is a Partner in PwC’s National Office with over 25 years of experience assisting companies in resolving complex business and accounting issues. He concentrates on the accounting for financial instruments under both current and emerging standards and works with many of the firm's largest financial services clients and a number of non-financial service clients on treasury-related matters. 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, as well as periodic webcasts for the power and utilities industry. With nearly 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Aug 17, 2021

Our Full disclosure podcast series brings you back to the basics on all things related to financial statement presentation and disclosure, from the top of the financial statements through the footnotes. This week we focus on the fair value disclosure requirements. Chip Currie from our National Office is back in the guest seat to discuss key reminders with our host, Heather Horn. Topics include: 1:10 - The Basics. Chip and Heather begin by discussing some of the “core” fair value disclosure requirements and how the requirements evolved into their current state. 9:32 - Leveling. Chip explains the objectives of fair value leveling classifications, how they’re determined by their inputs, and their presentation in the footnotes. 23:58 - Additional requirements. Chip dives into additional required disclosures for public business entities and companies electing the fair value option. 32:12 - Wrap up. Heather tries to stump Chip with two challenging questions, and Chip provides pointers on where to find additional resources as companies hone their fair value disclosures. Want to learn more? Read our Financial statement presentation and Fair value measurements guides. And listen to our podcast, Full disclosure: Investments—debt and equity securities . Chip Currie is a Partner in PwC’s National Office with over 25 years of experience assisting companies in resolving complex business and accounting issues. He concentrates on the accounting for financial instruments under both current and emerging standards and works with many of the firm's largest financial services clients and a number of non-financial service clients on treasury-related matters. 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, as well as periodic webcasts for the power and utilities industry. With nearly 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Aug 12, 2021

Special-purpose acquisition companies (SPACs) have been around for a long time, but in the last 24 months, the SPAC market has seen an unprecedented amount of activity. In our Facts on SPACs mini-series, we cut through the noise to tell you exactly what you need to know about this boom. In episode two of our six-part series on SPACs, Matt Sabatini, PwC National Office partner, is back to share some helpful insights when determining the accounting acquirer in a SPAC transaction. Topics include: 0:56 - Background. Matt and Heather begin with an introduction to one of the first steps to any SPAC transaction – identifying the accounting acquirer. Generally, it’s the same assessment as in a business combination, but most importantly, it’s not a “one size fits all” analysis - Matt explains. 6:31 - Exceptions to the rule. We said it was “generally” the same as any business combination. Matt describes two exceptions when different accounting guidance needs to be used to identify the accounting acquirer. 12:39 - Downstream impacts. Once the accounting acquirer has been determined, the facts will tell you which accounting model to apply. Is it a reverse recapitalization? Matt tells you what you need to know. 18:01 - Key takeaways. Heather and Matt close with final advice on this assessment. Most importantly, understanding the facts. Not all SPACs are alike. Want to learn more? Read our In depth, Determining the accounting acquirer . Matt Sabatini is a partner in PwC's National Office with over 20 years of experience helping clients and engagement teams navigate the accounting and financial reporting for complex transactions. He specializes in the accounting for M&A, corporate reorganizations, recapitalizations, joint ventures, and other investments. 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, as well as periodic webcasts for the power and utilities industry. With nearly 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Aug 10, 2021

Our Full disclosure podcast series brings you back to the basics on all things related to financial statement presentation and disclosure, from the top of the financial statements through the footnotes. This week we focus on the presentation and disclosure requirements for pension obligations and plan assets. Jay Seliber and Ken Stoler from our National Office are back in the guest seats to discuss key reminders with our host, Heather Horn. Topics include: 1:24 - Pension costs. Jay outlines the typical six accounting components of pension and other postemployment benefit (OPEB) costs for single-employer defined benefit plans. 7:31 - Financial statement presentation. Ken explains the balance sheet and income statement and classification matters for pension and OPEB obligations. 11:02 - Disclosures. Jay highlights key objectives to consider and specific required disclosures for pensions. 24:47 - Key takeaways. Heather, Jay, and Ken close with some final advice to help make the preparation of these disclosures easier. Want to learn more? Read our Financial statement presentation and Pensions and other employee benefits guides. And listen to our podcast, Accounting for pension plans: Back to the basics with 5 things to know . Jay Seliber is a partner in PwC’s National Office. He leverages over 30 years of experience to help clients with their most complex accounting matters, particularly in the areas of mergers and acquisitions, revenue recognition, stock compensation, earnings per share, employee benefits, restructurings, impairments, and financing transactions. Jay is presently PwC's representative to the FASB's Emerging Issues Task Force. Ken Stoler is a partner in PwC’s National Office with over 15 years of experience. He helps companies to address one of their most fundamental concerns, how they should compensate their employees and executives. Helping companies navigate their employee issues during an IPO, spin off, acquisition, or other major transaction or event, Ken specializes in financial reporting and plan design issues related to equity compensation arrangements, retirement and healthcare plans, and other benefits. 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, as well as periodic webcasts for the power and utilities industry. With nearly 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Aug 5, 2021

Special-purpose acquisition companies (SPACs) have been around for a long time, but in the last 24 months, the SPAC market has seen an unprecedented amount of activity. In our Facts on SPACs mini-series, we cut through the noise to tell you exactly what you need to know about this boom. This week we’re kicking off this series with a SPAC lifecycle overview. Mike Bellin, PwC’s IPO Services co-leader, is in the guest seat to give the what, why, and how of SPAC transactions, including a few of the latest trends emerging in 2021. Topics include: 0:53 - Defining a SPAC. Mike introduces what a SPAC transaction is, what it accomplishes, and what’s driving its popularity. 11:27 - SPACs versus IPOs. Most companies are familiar with traditional IPOs. Mike describes the similarities and differences in the processes that make SPACs a popular choice, and the differences in risk. 18:23 - The current landscape. Mike highlights what’s happening in the SPAC market currently, including “divestiture-to-SPAC” and “up-SPAC” transactions, along with key accounting and reporting considerations. 24:40 - Key takeaways. Heather and Mike close with some final remarks around where CFOs and controllers can focus their preparation when contemplating various liquidity scenarios. If going public is on the table, it’s important to put investment into the organization now - Mike explains. Want to learn more? Listen to our podcast Forecast 2021: Operational readiness for IPOs, SPACs, and spins , and read our In depth: Domestic SPAC mergers - financial reporting and accounting considerations . Mike Bellin is a PwC Deals partner and co-leads PwC’s IPO Services practice. Mike focuses on IPOs, SPACs, accounting for carve-outs/spin-offs, purchase accounting, pro forma financial statements, stock compensation, the SEC registration process, and much more. In addition, he frequently advises on IPOs, helping his clients with their initial registration process and operational readiness. 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, as well as periodic webcasts for the power and utilities industry. With nearly 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Aug 3, 2021

Our Full disclosure podcast series brings you back to the basics on all things related to financial statement presentation and disclosure, from the top of the financial statements through the footnotes. This week we focus on the presentation and disclosure requirements for stock-based compensation awards. Jay Seliber and Ken Stoler from our National Office are joining us to share helpful insights with our host, Heather Horn. Topics include: 1:21 - Balance sheet. Jay opens with balance sheet presentation and classification matters for stock-based compensation awards. 5:02 - Income statement. Jay explains the income statement presentation requirements for stock-based compensation expense and the related SEC comment letter trends. 8:22 - Statement of cash flows. Ken walks through the impact of stock-based compensation awards on the statement of cash flows. 14:31 - Statement of stockholders’ equity. Ken highlights the areas affected by stock-based compensation awards in the statement of stockholders’ equity. 16:29 - Disclosures. Jay and Ken discuss the required disclosures and best practices. 27:52 - Key takeaways. Heather, Jay, and Ken close with some final remarks. Want to learn more? Read our Financial statement presentation and Stock-based compensation guides. And listen to our podcast, Stock-based compensation issues in an IPO and SPAC, explained . Jay Seliber is a partner in PwC’s National Office. He leverages over 30 years of experience to help clients with their most complex accounting matters, particularly in the areas of mergers and acquisitions, revenue recognition, stock compensation, earnings per share, employee benefits, restructurings, impairments, and financing transactions. Jay is presently PwC's representative to the FASB's Emerging Issues Task Force. Ken Stoler is a partner in PwC’s National Office with over 15 years of experience. He helps companies to address one of their most fundamental concerns, how they should compensate our employees and executives. Helping companies navigate their employee issues during an IPO, spin off, acquisition, or other major transaction or event, Ken specializes in financial reporting and plan design issues related to equity compensation arrangements, retirement and healthcare plans, and other benefits. 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, as well as periodic webcasts for the power and utilities industry. With nearly 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 us_podcast@pwc.com Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jul 27, 2021

Our Full disclosure podcast series brings you back to the basics on all things related to financial statement presentation and disclosure, from the top of the financial statements through the footnotes. This week we focus on the presentation and disclosure requirements for debt including term debt, revolving debt, and structured payables. Chip Currie and Suzanne Stephani from our National Office are back in the guest seats to discuss key reminders with our host, Heather Horn. Topics include: 1:24 - Balance sheet. Chip and Suzanne highlight balance sheet classification matters for refinancings, repayments, covenant violations, issuance costs, and more. 12:58 - Income statement. Chip explains the income statement impacts of gains and losses on debt extinguishment and common acceptable approaches to classification. 14:18 - Statement of cash flows. Suzanne reminds listeners how to present debt activity in the statement of cash flows—from debt borrowings and repayments, to extinguishments and modifications. 17:09 - Disclosures. Chip highlights the key required disclosures for debt that investors are focused on. 24:19 - Structured payables. Chip explains structured payables and the related disclosure requirements. 22:33 - Key takeaways. Chip and Suzanne close with some final reminders. Want to learn more? Read Chapter 12: Debt and Section 11.3.1.5: Structured payables of our Financial statement presentation guide, and listen to our podcast, Debt classification: Back to the basics with 5 things you need to know . Chip Currie is a partner in PwC’s National Office with over 20 years of experience assisting companies in resolving complex business and accounting issues. He concentrates on the accounting for financial instruments under both current and emerging standards and works with many of the firm's largest financial services clients and a number of non-financial service clients on treasury-related matters. Suzanne Stephani is a director in PwC’s National Office specializing in the application and interpretation of the accounting guidance related to financing transactions. 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, as well as periodic webcasts for the power and utilities industry. With nearly 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jul 20, 2021

Our Full disclosure podcast series brings you back to the basics on all things related to financial statement presentation and disclosure, from the top of the financial statements through the footnotes. This week we focus on the presentation and disclosure requirements for other assets—specifically property, plant and equipment, inventory, intangible assets, goodwill, and capitalized software. Mike Coleman and Matt Sabatini, PwC National Office partners, are back in the guest seats to share some helpful insights with our host, Heather Horn. Topics include: 1:29 - Property, plant and equipment (PPE). Matt explains the presentation and disclosure requirements for PPE and highlights key areas of focus for analysts. 8:29 - Inventory. Mike highlights the SEC’s and FASB’s presentation and disclosure rules, including where they differ depending on the costing method applied. 15:37 - Intangible assets and goodwill. Matt and Mike take us through the presentation and disclosure requirements for intangibles and goodwill, whether acquired through a business combination or an asset acquisition, and the related impairment assessments. 22:56 - Capitalized software. Mike breaks down the disclosure rules for capitalized software for both the sellers and buyers of internal and external use software. 27:41 - Standard setting. Matt and Mike update listeners on the FASB’s projects on goodwill, intangibles, and inventory disclosures. 30:17 - Key takeaways. Matt and Mike close with some final reminders. Want to learn more? Read: Chapter 8: Other assets of our Financial statement presentation guide Sections 5.2.7.4 Presentation and disclosure–held and used impairment and 5.3.8 Presentation and disclosure (held for sale) of our PP&E and other assets guide And listen to our podcasts: Accounting for cloud computing costs: 5 things you need to know Buying or developing new software? Know which guidance to use Mike Coleman is a partner in PwC's National Office with over 30 years of experience specializing in accounting for revenue and software arrangements. In addition, Mike has been one of the firm's representatives on the AICPA Software Task Force. Prior to his time in National, Mike was an audit partner in the firm's NY Metro assurance practice serving technology clients. Matt Sabatini is a partner in PwC's National Office with nearly 20 years of experience helping clients and engagement teams navigate the accounting and financial reporting for complex transactions. He specializes in the accounting for M&A, corporate reorganizations, recapitalizations, joint ventures, and other investments. Transcripts available upon request fo Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jul 13, 2021

Our Full disclosure podcast series brings you back to the basics on all things related to financial statement presentation and disclosure, from the top of the financial statements through the footnotes. This week we focus on investments, specifically debt securities and equity instruments, as well as the related presentation and disclosure matters. Our host, Heather Horn, sat down with PwC National Office partners, Chip Currie and Bret Dooley, to share some helpful insights. Topics include: 1:29 - Reminders on the accounting model. Bret and Chip open with recognition and measurement reminders for equity instruments and debt securities. 6:12 - Balance sheet. Bret explains the balance sheet presentation and classification matters for these types of investments. 9:31 - Income statement. Chip highlights the income statement considerations. 13:28 - Disclosures. Chip and Bret explain the key disclosures specific to equity instruments and debt securities. They also remind companies to disclose specific portfolio information. 19:47 - Other important disclosures. Our guests describe other required disclosures for available-for-sale securities, held-to-maturity securities, credit risk, and MD&A. 32:22 - Takeaways. Chip and Bret close with some final reminders. Want to learn more? Read: Chapter 9: Investments—debt and equity securities of our Financial statement presentation guide Chapter 12: Presentation and disclosure of our Loans and investments guide Chip Currie is a Partner in PwC’s National Office with over 20 years of experience assisting companies in resolving complex business and accounting issues. He concentrates on the accounting for financial instruments under both current and emerging standards and works with many of the firm's largest financial services clients and a number of non-financial service clients on treasury-related matters. Bret Dooley is a Partner in PwC’s National Office, focusing on emerging financial reporting issues related to financial instruments and assisting clients in resolving complex accounting matters. He brings more than 25 years of experience in both public accounting and industry, including leadership roles in accounting policy, financial reporting and controllership teams at global financial institutions. 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, as well as periodic webcasts for the power and utilities industry. With nearly 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jun 29, 2021

Our Full disclosure podcast series brings you back to the basics on all things related to financial statement presentation and disclosure, from the top of the financial statements through the footnotes. This week we focus on the presentation and disclosure requirements for comprehensive income and stockholders’ equity. Tom Barbieri and Jay Seliber from our National Office are joining us again to share helpful insights and key reminders with our host, Heather Horn. Topics include: 0:39 - Comprehensive income . Tom and Jay break down the presentation basics of comprehensive income and dive into the elements of other comprehensive income. 14:57 - Stockholders’ equity . We run through the requirements of presenting and disclosing the changes in stockholders’ equity. 20:02 - Preferred stock . Jay and Tom explain the nuances related to the balance sheet presentation of preferred stock. 21:55 - Other common areas . Lightning round! Heather quizzes our guests on presentation and disclosure rules for mezzanine equity, treasury stock, dividends, and contracts indexed to a company’s own stock. 34:22 - Standard setting . Jay highlights some new disclosure requirements from the recent standard setting on convertible debt and warrant modifications. 38:10 - Wrap up . Tom and Jay share their final advice for our listeners and key takeaways. Want to learn more? Read: Chapter 4: Reporting comprehensive income , Chapter 5: Stockholders’ equity , Chapter 21: Foreign currency , and Section 15.3.3: Temporary (mezzanine) equity of our Financial statement presentation guide Chapter 7: Preferred stock and Chapter 8: Accounting for certain contracts to issue shares of our Financing transactions guide In depth: Accounting for convertible instruments and own equity contracts Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jun 22, 2021

Our Full disclosure podcast series brings you back to the basics on all things related to financial statement presentation and disclosure, from the top of the financial statements through the footnotes. This week we focus on the presentation and disclosure requirements for earnings per share. John Horan and Jay Seliber from our National Office are joining us again to share helpful insights and key reminders with our host, Heather Horn. Topics include: 1:18 - The basics. Jay and John set the stage for today’s discussion with a refresher on the type of entities that are required to calculate EPS and the presentation and disclosure requirements for basic and diluted EPS. 8:41 - Basic EPS. We break down how to calculate basic EPS, potential adjustments to the numerator and denominator, and how to calculate weighted average shares outstanding. 19:04 - Diluted EPS and convertible instruments. Jay and John discuss how to calculate diluted EPS and the various methods used. 28:30 - Potential common shares. Our guests explain what potential common stock share instruments are anti-dilutive and how to consider them in the EPS calculation. 32:09 - Quarterly versus annual EPS. Jay gives us a refresher on how EPS is presented on a quarterly and annual (or year-to-date) basis. 36:21 - Wrap up. Our guests give us their final remarks and key takeaways. Want to learn more? Read: Chapter 7: Earnings per share of our Financial statement presentation guide Section 6.6 of our Carve-out financial statements guide Sections 2.6.5.3 , 2.10.5 and 6.4.2.2 of our Business combinations and noncontrolling interests guide Our In depth: Domestic SPAC mergers - financial reporting and accounting considerations And listen to our podcasts, Got EPS questions? We've got answers and Earnings per share: 5 things you need to know . Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jun 15, 2021

Our Full disclosure podcast series brings you back to the basics on all things related to financial statement presentation and disclosure, from the top of the financial statements through the footnotes. This week we focus on the statement of cash flows and the common classification matters. Suzanne Stephani from our National Office is back in the guest seat to share helpful insights and key reminders with our host, Heather Horn. Topics include: 1:14 - The basics . Suzanne sets the stage for today’s discussion with a refresher on the types of cash, cash equivalents and restricted cash to include in the statement of cash flows, and the related disclosures. 7:02 - General classification model . Suzanne reminds us of what the direct and indirect methods are and breaks down the three cash flow buckets on this statement: operating, investing, and financing activities. She also highlights what investors are focused on. 12:15 - Gross versus net . We discuss the requirements to present investing or financing inflows and outflows as gross, and what the specific criteria is for when a net presentation is permissible. 15:10 - Noncash investing and financing . Suzanne highlights the required disclosures for noncash activities and provides helpful examples. 19:11 - Common classification issues . We go through a lightning round of questions on common classification issues such as insurance claim proceeds, noncontrolling interest cash flows, repayment of debt that was issued at a discount, payment-in-kind notes, debt extinguishment costs, and structured payables. 29:20 - Close out . Suzanne gives us her final remarks and reminds us of the upcoming PwC Q2 Quarterly accounting webcast on emerging issues. Want to learn more? Read Chapter 6: Statement of cash flows of our Financial statement presentation guide. And listen to our podcasts: Building your cash flow statement in uncertain times Statement of cash flows: back to basics Suzanne Stephani is a director in PwC’s National Office specializing in the application and interpretation of the accounting guidance related to financing transactions. 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, as well as periodic webcasts for the power and utilities industry. With nearly 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jun 8, 2021

Our Full disclosure podcast series brings you back to the basics on all things related to financial statement presentation and disclosure, from the top of the financial statements through the footnotes. Our second episode in this series focuses on the income statement. Valerie Wieman and Ashleigh Pierce from our National office join host Heather Horn to share helpful insights and key reminders. Topics include: 1:28 - General presentation reminders. Valerie sets the stage for today’s discussion with a breakdown of the general income statement presentation requirements. 6:31 - Revenue presentation. Valerie and Ashleigh take us through the SEC requirements for presenting revenue and how to distinguish between revenues and gains. 11:55 - Cost of sales and operating expenses reminders. Valerie and Ashleigh remind us of the judgment involved when allocating your expenses between cost of sales and operating expenses. 18:52 - Operating measures and subtotals. Ashleigh provides some key reminders for companies that choose to present an operating measure on their income statement. 21:20 - SEC comment letters. Valerie highlights relevant SEC comment letter trends, including cost classification, depreciation and amortization, and gross profit subtotals. 23:24 - Other specific presentation requirements. Our guests walk through presentation and disclosure of research and development costs, collaborative arrangements, long-lived asset impairments and non-operating income and expenses. 30:27 - Government grants. Ashleigh shares presentation and disclosure reminders related to the receipt of government grants. 35:54 - Standard setting update. Ashleigh and Valerie wrap up by highlighting projects on the FASB’s technical agenda that impact the income statement and related disclosures. Want to learn more? Read Chapter 3: Income statement of our Financial statement presentation guide. And listen to our Podcast: Disaggregated expense disclosures – The FASB’s new DISE standard Valerie Wieman is PwC’s National office Editor-in-chief. She manages the creation, development, and publication of our brand-defining thought leadership. Prior to that role, she was part of PwC’s National office SEC services group, helping clients navigate SEC rules and regulations. Ashleigh Pierce is a director in PwC’s National office specializing in technical accounting matters, strategic thought leadership, and podcast content. She has experience serving multinational clients, both public and private, primarily in the consumer markets, healthcare, not-for-profit, higher education, and industrial products sectors. 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, as well as periodic webcasts for the power and utilities industry. With nearly 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 di Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jun 1, 2021

In our Full disclosure podcast series, we’re bringing you back to the basics on all things related to financial statement presentation and disclosure, from the top of the financial statements through the footnotes. Our inaugural episode this week focuses on general reporting and balance sheet presentation requirements. Kyle Moffatt, a partner in our National Office, is back in the guest seat to set the stage for the series with our host, Heather Horn. Topics include: 1:32 - General presentation reminders. GAAP comes first. Kyle reminds our listeners of the FASB codification guidance for interim and annual financial statement presentation for both public and private companies, as well as the incremental guidance from the SEC for public companies. 2:37 - Significant accounting policies. Kyle reminds companies how to determine which accounting policies are significant, and encourages listeners to take a fresh look at their disclosures. 9:13 - Significant account balances. Kyle outlines the SEC rules regarding when balances should be broken out and presented separately on the balance sheet. 14:53 - Balance sheet classification. Reporting entities are required to present a classified balance sheet. Kyle explains the requirements and how they provide insights for the users of the financial statements. 17:55 - Balance sheet offsetting. Kyle breaks down the key criteria that must be met to determine whether you can offset assets and liabilities on the balance sheet. 22:00 - Other considerations. We discuss other important considerations for balance sheet presentation, what the SEC staff focuses on, and key takeaways. Want to learn more? Read the following chapters from our Financial statement presentation guide: Chapter 1: General presentation and disclosure requirements Chapter 2: Balance sheet Chapter 29: Interim financial reporting Kyle Moffatt is a partner in PwC's National Office where he consults with engagement teams and audit clients on SEC reporting matters. He joined PwC in 2020 after spending almost 20 years with the SEC, most recently as Chief Accountant and Disclosure Program Director in the Division of Corporation Finance. 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, as well as periodic webcasts for the power and utilities industry. With nearly 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

May 18, 2021

Identifying performance obligations in revenue contracts continues to be a hot topic as more companies are exploring business models that include a combination of products and services. In this week’s episode, Mike Coleman and Angela Fergason, partners in PwC’s National Office, join host Heather Horn to help navigate the accounting guidance in this area. Topics include: 1:04 - Background. The most critical step in the ASC 606 5-step model for recognizing revenue is identifying performance obligations, as it determines the unit of account to apply to the rest of the model. Mike breaks down why we are talking about this now. 3:35 - Identifying performance obligations: an overview of the accounting model. Angela provides an overview of the guidance and criteria around identifying performance obligations. 5:45 - Separately identifiable. Angela highlights some of the indicators that a good or service might not be separately identifiable. 9:50 - Real life example: Sale of equipment with installation and consulting services. Mike walks us through a real life example and how to apply the guidance to determine whether there are separate performance obligations. 13:30 - Real life example: Licenses of software. Angela and Mike explain some other real life examples commonly seen with software licenses and how these could impact the identification of performance obligations. 22:14 - Real life example: Hardware and software. We talk about scenarios where products are also sold with software and how companies should determine whether the software is integral to the functionality of the equipment. We also discuss when the product is sold with cloud-based subscription services and whether to combine these elements into a bundled performance obligation. 26:24 - Key takeaways. Diligence and outreach across your organization is necessary to understand your contracts and get the right accounting and disclosure. Want to learn more? Read chapter 3 of our Revenue from contracts with customers guide. Mike Coleman is a partner in PwC's National Office with over 30 years of experience specializing in accounting for revenue and software arrangements. In addition, Mike has been one of the firm's representatives on the AICPA Software Task Force. Prior to his time in National, Mike was an audit partner in the firm's NY Metro assurance practice serving technology clients. Angela Fergason is a partner in PwC's National Office with over 20 years of experience who specializes in accounting for revenue and employee compensation arrangements. She is a frequent speaker on accounting and financial reporting topics and is a contributor to many PwC National Office publications, including our accounting guides on revenue and stock-based compensation. 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, as well as periodic webcasts for the power and utilities industry. With nearly 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 acc Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

May 11, 2021

There are many challenging financial reporting considerations a company faces as it goes through the process of becoming public, including those related to stock-based compensation. Stock-based compensation in traditional IPOs and SPAC mergers is also an area where the SEC has issued comment letters. In this week’s episode, Jay Seliber, a partner in PwC’s National Office, joins host Heather Horn to discuss the compensation-related financial reporting matters for companies to consider as they go public. Topics include: 0:58 - Cheap stock valuation. Jay opens with a discussion on what companies should think about as they are measuring the fair value of awards in the period leading up to the IPO, including what circumstances might warrant revisiting the initial valuations. 8:44 - Recognition of compensation awards that vest upon an IPO. Jay breaks down what to consider when recognizing compensation for awards where the vesting is contingent upon an IPO, including considerations in the quarterly filings leading up to the IPO. 13:30 - Employee stock purchase plans. Some companies will have employee stock purchase plans (ESPPs) that give employees the right to have money withheld from their paycheck in order to purchase stock at a discount in the future. Jay covers the accounting for ESPPs in an IPO. 17:55 - Earnings per share. Newly-public companies will have to incorporate earnings per share in their filings. Jay explains some of the complexities, including calculating the weighted average shares outstanding needed to disclose earnings per share for each period presented as required by the SEC. 24:58 - Mezzanine equity. Lastly, Jay walks us through mezzanine equity—what it is and what companies going public need to be thinking about. Want to learn more? Read: Our Stock-based compensation guide Section 7.3.4 of our Financing transactions guide Chapter 7 and Chapter 15 of our Financial statement presentation guide Our Observations from the front lines: Avoiding "cheap stock" SEC scrutiny And listen to our Podcast: Got EPS questions? We've got answers . Jay Seliber is a partner in PwC’s National Office with over 30 years of experience. He helps clients with their most complex accounting matters, particularly in the areas of stock compensation, revenue recognition, M&A, employee benefits, restructurings, impairments, and financing transactions. 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. Transcripts available upon r Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Apr 20, 2021

Finding embedded leases in your contracts is important to avoid misstating the balance sheet, and a lot of judgment is involved. Here to answer common questions, host Heather Horn is joined by Chad Soares and Marc Jerusalem to walk through the steps to identify embedded leases. Topics include: 0:47 - Guidance reminder. Before we get into how to identify embedded leases, Marc gives a refresher on the accounting and why this topic is top of mind for companies. 4:17 - Identifying embedded leases. As a general rule, an embedded lease exists if there is an explicit or implicit identified asset in the contract and the customer controls use of the asset. Chad and Marc walk through assessing if an arrangement contains an embedded lease, and covers related topics such as: 7:09 - Substitution rights 12:54 - Customer control over the use of the asset 22:08 - You have an embedded lease. Now what? Once you identify an embedded lease, the contract needs to be separated into its lease and nonlease components. Chad walks through the steps and key considerations. 28:25 - Final reminders. There are a lot of contracts that aren’t called a “lease,” but that still fall within this guidance. Marc and Chad close with some reminders and some other key takeaways. Chad Soares is a partner in PwC's National Office focused on leasing and financing arrangements. He was a primary author of PwC’s lease accounting guide and contributes to a variety of thought leadership related to leasing and financial instruments. Marc Jerusalem is a director in PwC’s National Office specializing in leasing. As a leasing specialist, Marc consults with clients on complex lease accounting issues and is a contributor to many related PwC National office publications. 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, as well as periodic webcasts for the power and utilities industry. With nearly 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Mar 23, 2021

As we wrap up the first quarter of the new year, join host Heather Horn and PwC tax specialists, Jenn Spang and Kassie Bauman, as they discuss some of the key considerations and complexities in accounting for income taxes during interim periods. Topics include: 0:51 - How it works. We begin with an overview of how to calculate a quarterly income tax provision, including how to estimate the annual effective tax rate (AETR). 7:39 - Ordinary income. What does ordinary income mean in the context of your interim tax provision? Jenn explains. 10:21 - Discrete items. Kassie shares examples of what qualifies for treatment as a discrete item and the judgment involved. 16:51 - Exceptions and limitations. Kassie and Jenn discuss a few exceptions to using the worldwide estimated AETR. 22:55 - Roll of the controller. Setting the AETR involves more than just the tax department—it is a cross-specialty process. We close by discussing the importance of engaging the right people from the beginning and working together to apply the right controls and processes. Jennifer Spang is a tax partner in PwC's National Office specializing in tax accounting under US GAAP and IFRS. She has over 25 years of experience helping companies in a variety of industries navigating complex tax accounting matters. Kassie Bauman is a managing director in PwC's National Office who consults on tax accounting under US GAAP and IFRS. Kassie has more than 20 years of auditing and accounting experience, including almost a decade of experience addressing complex technical accounting matters as part of our National Office. 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, as well as periodic webcasts for the power and utilities industry. With nearly 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Mar 9, 2021

Distinguishing between a change in accounting principle and a change in estimate can be difficult, but the distinction is critical to applying the correct guidance. To help think through the accounting, host Heather Horn is joined by Pat Durbin and Tom Barbieri, Deputy Chief Accountants in PwC’s National Office. Topics include: 0:41 - Background. We start with an overview of the different types of accounting changes and provide examples of each. 4:33 - Change in accounting principle. Pat walks through the steps that companies should take when changing an accounting principle, and how to navigate the preferability assessment. 18:03 - Accounting for changes in accounting principles. Once you’ve identified a change in principle, how is that reflected in the financial statements? Tom explains the two step process and shares thoughts on disclosures. 30:21 - Change in estimate. Changes in estimate frequently come up as a result of new information or modifications to estimating techniques. Pat highlights the accounting considerations. 35:33 - Key reminders. Don’t wait! Tom covers key reminders, including preferability letters and capturing the appropriate disclosures. Want to learn more? Read chapter 30 of our Financial statement presentation guide. Tom Barbieri is a Deputy Chief Accountant in PwC’s National Office and the financial instruments accounting leader. He has nearly 30 years of experience advising clients on complex accounting and financial reporting issues relating to financial instruments. During Tom’s tenure in National, he has been at the forefront of emerging accounting issues and has regular interactions with the FASB, SEC, and other regulators and standard setters. Pat Durbin is a Deputy Chief Accountant in PwC’s National Office and the leader of the revenue and liabilities division. He has nearly 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 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, as well as periodic webcasts for the power and utilities industry. With nearly 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Mar 2, 2021

Variable consideration in revenue contracts is more common than you might think, and the accounting for it can require a considerable amount of judgment. To help make sure you have the right revenue recognition, we’ve asked Angela Fergason, a partner in our National Office, to join host Heather Horn to walk through the guidance. Topics include: 0:47 - The many forms of variable consideration . We begin with an overview of variable consideration under the new revenue guidance and share some common examples of the common types of variable consideration in a revenue contract. 6:25 - Estimating variable consideration . We cover the two methods for estimating variable consideration at contract inception: the “expected value” method and the “most likely amount” method. 9:36 - Constraint on variable consideration . An estimate of variable consideration is subject to a constraint. Listen as Angela breaks down what exactly this means. 15:49 - Exceptions for estimating variable consideration upfront . There are a few situations when you might not have to estimate variable consideration upfront. Angela walks through a few of the scenarios. 23:24 - Revenue vs lease components . We frequently see contracts with revenue and lease components. Angela explains how the revenue and lease models differ when contracts have variable fees. 25:38 - Reminders and disclosures . We close by wrapping-up with key takeaways and an overview of the multiple disclosure requirements. Want to learn more? See chapter 4 of PwC’s Revenue from contracts with customers guide . Angela Fergason is a partner in PwC's National Office with over 20 years of experience, specializing in accounting for revenue and employee compensation arrangements. She is a frequent speaker on accounting and financial reporting topics and is a contributor to many PwC National Office publications, including our accounting guides on revenue and stock-based compensation. 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, as well as periodic webcasts for the power and utilities industry. With nearly 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Feb 3, 2021

2020 has brought us a global pandemic, an election, and adoption of some major new accounting standards. So what does it all mean for your EPS calculations? In this episode, John Horan, a PwC managing director in our national office, joins host Heather Horn to discuss some important EPS reminders for companies to think about for their year-end reporting. Topics include: 0:45 - Basic EPS: 2:13 - Participating securities—John describes what they are and why you may need to consider them in your EPS calculations. 11:53 - Mezzanine securities—John walks through how having securities classified here impacts EPS. 16:58 - Diluted EPS: 18:45 - Settlements in cash or shares—how it settles makes a difference to EPS - we give examples on each. 23:08 - Liability classified warrants—warrants classified as liabilities can be dilutive to EPS - even in periods of loss. 26:09 - New convertible debt standard—how does the new FASB standard on liabilities and equity change the presumption of share settlement? John brings you the inside scoop. Want to learn more? See chapter 7 of our Financial statement presentation guide and listen to our podcast on Earnings per share: 5 things to know . 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, as well as periodic webcasts for the power and utilities industry. With nearly 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jan 26, 2021

While financial statements users have always placed a lot of importance on the statement of cash flows, the focus has sharpened in today’s turbulent environment. Listen as host Heather Horn and Suzanne Stephani, a director in PwC’s national office, discuss frequently asked questions and share useful reminders for those in the process of preparing the cash flow statement for their year-end reporting. Topics include: 0:16 - Debt restructuring . Debt restructuring often brings fees. We look at a few reporting scenarios and discuss the presentation of these fees. 7:04 - Borrowings and repayments under revolvers . Some companies are drawing down on their revolvers as a way to access liquidity. We discuss whether the borrowings and repayments under a revolver should be presented gross or net on the cash flow statement and share other key reminders. 9:48 - Supply chain financing . As a result of liquidity struggles, companies have gotten creative with pushing out payment terms in a variety of ways—and this raises questions on the statement of cash flows. Through practical examples, we look at how these transactions should be presented and discuss the FASB’s project on the disclosure of supply chain finance programs. 16:38 - Lease modifications/terminations . During 2020, many companies made changes to their lease agreements, especially real estate leases. We talk through presentation considerations in this area. 18:42 - Sale of accounts receivables . What are the cash flow considerations when a company sells or factors their trade receivables? Suzanne explains. Have more cash flow presentation questions? Read our Financial statement presentation guide and listen to our podcast, Statement of cash flows: Back to basics . About our guest Suzanne Stephani is a director in PwC’s National Office specializing in the application and interpretation of the accounting guidance related to financing transactions. About our host 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, as well as periodic webcasts for the power and utilities industry. With nearly 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jan 12, 2021

After looking at CECL disclosures from the first three quarters of 2020, we’ve noted some clear trends. In this timely episode, host Heather Horn is joined by Chip Currie and Jonathan Odom, two PwC National office partners, to discuss CECL disclosures and share important reminders as calendar year-end companies dive into their year-end reporting cycle. Topics include: 0:45 - Introduction. Before launching into the CECL disclosures, we highlight some changes made to the CARES Act deferral of CECL and troubled debt restructuring guidance as a result of the recent stimulus bill signed into law in December. 6:01 - Q3 2020—What we saw. We provide perspectives on how CECL-related disclosures have evolved through Q3 of 2020, including what we’ve heard from analysts. 14:18 - The FASB. The FASB has been actively working on their post-implementation review of the CECL accounting standard. In this section, we discuss what they’ve heard in terms of disclosures and share other observations on what we expect to come out of their review. 16:58 - SEC comment letters. Any new developments or focus areas of the SEC? We take a look. 18:22 - Final reminders. As companies prepare and refine their disclosures for their annual reports, we share some general best practices. Chip Currie is a partner in PwC’s National Office with over 20 years of experience assisting companies in resolving complex business and accounting issues. He concentrates on the accounting for financial instruments for both current and emerging standards and works with many of the firm's largest financial services clients and a number of non-financial service clients on treasury-related matters. Jonathan Odom is an assurance partner in PwC’s National Office SEC services practice with over 20 years of experience in providing accounting and advisory services to the financial services sector. 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, as well as periodic webcasts for the power and utilities industry. With nearly 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 us_podcast@pwc.com . Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.