Startups have a lot going on. A lot. But all the growth in the world won’t matter if you aren’t building a solid accounting and reporting foundation. Enter our new Start-Up Company Series of episodes, focusing on financial reporting basics – the balance sheet this go-around. So join Embarkers Adam Olsen, Zac Smith, and Mack Martinez for insights, tips, and best practices specifically for startups. Dig in! For more information on startup- and reporting-related topics: 6 Ways to Improve the Report...
Aug 21, 2023•20 min•Ep. 60
To state the obvious, rev rec has some teeth. But construction and engineering companies face even more potential potholes than most thanks to a nuanced industry filled to the brim with complex contracts. That's why Embarkers Adam Olsen, Zac Smith, and Donald Thomas devoted an entire Accounting Matters episode on 606 issues for construction and engineering companies. Enjoy! For more information on ASC 606 and related topics: Navigating ASC 606 Revenue Recognition: A Comprehensive Guide for CFOs ...
Aug 21, 2023•33 min•Ep. 59
Once again, AM Now hosts Adam Olsen and Matt Fisser are here to deliver news from the accounting and finance world, including: Warnings from the PCAOB and SEC on “assurance” work for crypto companies The IASB recently released amendments to IAS 21, the effects of changes in foreign exchange rates The IAASB’s unanimous thumbs up to the ISSA 5000 draft, General Requirements for Sustainability Assurance Engagement Update on the two key California bills on climate reporting, SB 253 and SB 261 For mo...
Aug 15, 2023•10 min
Your AM Now hosts Adam Olsen and Matt Fisser are back this week to deliver more news from the accounting & finance world, including: The finalization of the European Sustainability Reporting Standards (ESRS) ISSB on the importance of interoperability between climate disclosure standards UK plans to create Sustainability Disclosure Standards (UK SDS) Final rule on cybersecurity from the SEC More on the FASB project on the disaggregation of certain income statement expenses For more informatio...
Aug 08, 2023•12 min
Building on our recent “GHG 101 – Introduction to Carbon Accounting” episode, Embarkers Adam Olsen, Zac Smith, and Fabian Garavito roll up their sleeves a bit higher this week. Want to know what emission factors involved in GHG (greenhouse gas) accounting and reporting mean for your accounting and reporting functions going forward? You came to the right place…so dig in! For more information on carbon accounting and related topics: Carbon Credit Accounting: Considerations for Environmental Credit...
Aug 07, 2023•26 min•Ep. 58
Once again, your AM Now hosts Adam Olsen and Nicole Harger are here to discuss recent accounting news, including: Newest update from the FASB, ASU 2023-03 SEC sample letter on China-related disclosures ESMA on sustainability disclosures in prospectuses ISSB proposed IFRS sustainability disclosure taxonomy IOSCO’s key endorsement of the ISSB’s sustainability-related financial disclosures For more information on these and related topics: FASB: Accounting Standards Update No. 2023-03 SEC: Sample Le...
Jul 25, 2023•8 min
As if ASC 606 wasn’t complicated and challenging enough! Software companies face even higher hurdles than most thanks to a nuanced industry filled to the brim with complex arrangements. But have no fear because Embarkers Adam Olsen, Zac Smith, and Donald Thomas have your back in this episode of the Accounting Matters podcast, packed with insights and best practices to ease your rev rec woes. For more information on ASC 606 and related topics: Navigating ASC 606 Revenue Recognition: A Comprehensi...
Jul 24, 2023•41 min•Ep. 57
Ready for some hot accounting topics? Join hosts Adam Olsen and Matt Fisser as they discuss what’s happening in accounting these days, including: Recent money market reforms from the SEC The SEC’s proposed amendments to broker-dealers The GASB’s newly published guide on leases and IT subscriptions For more information on these and related topics: SEC Adopts Money Market Fund Reforms and Amendments to Form PF Reporting SEC Proposes Rule Amendments to the Broker-Dealer Customer Protection Rule GAS...
Jul 18, 2023•7 min
AM Now hosts Adam Olsen and Nicole Harger are at it again, delivering yet another round of critical updates from the accounting world, including: The FASB’s proposed standard update to improve the accounting for purchased financial assets under ASC 326 A quick recap of the recent Private Company Council (PCC) meeting held at the end of June The IFRS Foundation takes over the monitoring of sustainability reporting progress from the TCFD. For more information on these and related topics: Proposed ...
Jul 12, 2023•9 min
Are you a public entity? And have you acquired – or will acquire – a significant business? Well, then do we have a stout SEC reg for you. Meet S-X Rule 3-05, a key piece of regulation registrants must know to file financial statements for an acquired business. And wouldn’t you know it – Embarkers Adam Olsen and Zac Smith cover that very topic on this episode of Accounting Matters. So pull up a seat and join us! For more information on S-X Rule 3-05 and acquisitions: Financial Disclosures about A...
Jul 10, 2023•23 min•Ep. 56
AM Now hosts Nicole Harger and Matt Fisser break down this week’s news on the accounting front, including: The IFRS announced it officially launched its new global sustainability and climate disclosure standards (GSCR). The SEC reopened its comment period for its proposed rule on position reporting of large security-based swap positions. PCAOB issues a proposal to bring greater clarity to certain auditor responsibilities when using technology-assisted analysis A summary of the recent Audit Commi...
Jun 27, 2023•10 min
Accounting for GHG (greenhouse gasses) is exactly how you think it is – unfamiliar and complex. And, like it or not, it’s going to be a requirement for many businesses soon. So join Embarkers Adam Olsen, Zac Smith, and Fabian Garavito for a discussion on carbon accounting, the common frameworks and disclosures in place, and what you need to do to help your business capture and report the right data. For more information on carbon accounting and related topics: Carbon Credit Accounting: Considera...
Jun 26, 2023•37 min•Ep. 55
In this episode of AM Now, hosts Adam Olsen and Matt Fisser cover a veritable potpourri of accounting news, including: The SEC spring 2023 reg-flex update on the expected timing of the final climate change disclosure rule, ESG investment practices, cyber risk disclosures, and more Continued discussions from the EITF on its recently added project, EITF Issue No. 23-A: Induced Conversions of Convertible Debt Instruments. The ISSB is working towards issuing its first two sustainability standards IF...
Jun 21, 2023•9 min
In this episode of AM Now, your hosts Adam Olsen and Nicole Harger dive deep into this week’s accounting news, including: The FASB describes a reporting entity in the recently released Chapter 2 of the Conceptual Framework. The SEC adopting three rules, two relating to the securities-based swaps markets and another removing and replacing references to credit ratings from existing exceptions in Rule 101 and Rule 102 of Regulation M The PCAOB issuing a proposal to increase auditor vigilance agains...
Jun 14, 2023•11 min
Making the switch from cash to accrual accounting is like being called up to the majors – it’s a big deal. To help you with that transition, Embarkers Adam Olsen, Zac Smith, and Mack Martinez take a deep dive into the process in this episode of Accounting Matters. So dig in, because some prime-grade insights and best practices are heading your way. For more information on accrual accounting and related topics: Cash to Accrual: How to Convert to GAAP Accounting Navigating ASC 606 Revenue Recognit...
Jun 12, 2023•26 min•Ep. 54
As always, you’re trusty AM Now hosts, Adam Olsen and Matt Fisser, are here to discuss this week’s accounting news, including: The IASB’s new disclosure requirements to enhance the transparency of supplier finance arrangements, including effects on a company’s liabilities, cash flows, and exposure to liquidity risk. The GASB recently adding a new project to its technical agenda, focusing on the accounting for infrastructure assets. The SEC dropping the hammer with security law violations on Coin...
Jun 06, 2023•9 min
Accounting for environmental credits might not make splashy headlines but that doesn’t mean they aren’t important. Soon to be critical, in fact. So join Embarkers Adam Olsen, Zac Smith, and Nicole Harger for this area of accounting that’s playing an increasingly vital role in an ESG-dominated landscape for CFOs and their teams. For more information on accounting for environmental credits and related topics: Carbon Credit Accounting: Considerations for Environmental Credits FASB Project Update: A...
May 29, 2023•31 min•Ep. 53
Join AM Now hosts Adam Olsen and Nicole Harger for a lively discussion on what’s happening in the accounting world this week, including: The FASB’s tentative board decisions relating to its proposed accounting standard update for disclosure improvements The International Sustainability Standards Board’s (ISSB) consultation on agenda priorities The International Auditing and Assurance Standards Board’s (IAASB) proposed revisions for their audit standard on going concern ChatGPT-4’s successful cra...
May 24, 2023•7 min
In another gangbuster of an AM Now episode, your hosts Adam Olsen and Nicole Harger discuss what’s happening this week in the accounting world, including: An overview of the FASB’s newest proposed standard on accounting for profits interest awards A summary of the topics discussed and outcomes from the Private Company Council’s most recent meeting, including software costs, crypto assets, stock comp disclosures, and more Recent SEC developments on Form PF and disclosures related to issuers’ shar...
May 17, 2023•17 min
Manual processes are every finance organization’s kryptonite – slow, tedious, susceptible to errors and inaccuracies. But as Embarkers Adam Olsen, Zac Smith, and Hayden McHan discuss in this episode of Accounting Matters, Alteryx puts those issues to rest with automated efficiencies that your people, stakeholders, and auditors will all love. For more information on Alteryx and automation: Alteryx for Accounting: The Future of the Finance Organization Enhancing Your Accounting Function through Da...
May 15, 2023•28 min
In this week’s AM Now, hosts Adam Olsen and Matt Fisser cover a veritable cornucopia of accounting topics, including: The FASB added a new project to its Emerging Issues Task Force – induced conversion accounting on certain settlements of convertible debt instruments that occur on terms that differ from the stated contractual conversion provisions. Now that’s a mouthful. The SEC’s recently issued investor bulletin highlighting the ongoing transition from LIBOR The SEC extended the time period fo...
May 02, 2023•7 min
A bit mystified by EXtensible Business Reporting Language, aka XBRL? Then you’re in the right place, because Embarkers Adam Olsen, Zac Smith, and Sarah Keiffer just took a deep dive into all things XBRL, discussing the who, what, where, when, and why behind this curious but impactful little reporting acronym. So come along for the ride, shall you?! For more information on XBRL and related topics: XBRL: The Business Reporting Standard XBRL US Center for Data Quality Public Company Financial Repor...
May 01, 2023•23 min•Ep. 52
Join hosts Adam Olsen and Nicole Harger for this week’s AM Now where they discuss: NASBA changing its Uniform Accountancy Act Model Rules, increasing the time a CPA candidate has to complete the exam after passing the first section from 18 months to 30 months A recent PCAOB report discussing the importance of a more skeptical eye when auditing a company’s financials As ubiquitous and successful as ChatGPT has been recently, the technology averaged a mere 47% on accounting exams according to a re...
Apr 26, 2023•7 min
This week in AM Now, Embarkers Adam Olsen and Matt Fisser discuss what’s happening on the accounting and finance front, including: The PCAOB’s ongoing concerns over audit quality and how they’ll address them in their 2023 inspection plans. The SEC just reopened the comment period for its proposed amendments to the definition of “exchange” under the Exchange Act in light of crypto assets and DeFi systems For more information on these topics: 2023 Inspections to Prioritize Audit Risks Related to F...
Apr 18, 2023•7 min
In the latest episode of your favorite accounting podcast, Accounting Matters hosts Adam Olsen and Zac Smith dissect the SEC’s final rule on pay vs. performance. Executive comp is a hot button issue sitting under a hot spotlight – and that’s an awful lot of hotness. So pull up a seat, registrants, because this is an important one you’re going to want to take notes on. For more information on pay vs. performance and related topics: SEC Adopts Pay Versus Performance Disclosure Rules How to Choose ...
Apr 17, 2023•28 min•Ep. 51
Join Embarkers Adam Olsen and Nicole Harger for this week’s AM Now, where they discuss what’s going on in the world of accounting and finance, including: The FASB’s proposed ASU on joint venture formations Update on potential recognition and measurement models on accounting for software costs ISSB transition relief for IFRS S1, the general requirement disclosure for sustainability-related financial information Thirsty for more knowledge? Then check out these other resources on related topics: AS...
Apr 11, 2023•11 min
In this week’s AM Now, Embarkers Adam Olsen and Matt Fisser discuss what’s going on in the world of accounting and finance, including: ASU 2023-02, Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method Updates on FASB projects – the conceptual framework (reporting entity), income statement expense disaggregation, and credit losses for acquired financial assets COSO guidance on effective internal controls over sustainability reporting (ICSR) But why stop t...
Apr 05, 2023•8 min
In this week’s episode of Accounting Matters, Embarkers Adam Olsen, Zac Smith, and Nicole Harger discuss a topic that’s been on a lot of CFOs’ minds lately – ASC 326, better known as CECL. This time, it’s private companies stepping into the batter’s box, and our resident GAAP gurus are here to provide all of the juicy details. So join in, won’t you?! For more information on CECL and related topics: Preparing for the Current Expected Credit Loss (CECL) Model ASU 2022-02: Financial Instruments, Cr...
Apr 03, 2023•38 min•Ep. 50
Join us for the latest episode of AM Now, where hosts Adam Olsen and Nicole Harger discuss: Hot off the presses – ASU 2023-01, Common Control Lease Arrangements Update on the FASB’s fast-moving crypto asset project and proposed disclosures The IASB exposure draft on accounting for financial instruments under IFRS 7 The SEC’s proposed modernization of forms, filings, and materials submissions Texas’s bill that would allow CPA candidates to sit for the exam with 120 only hours Hungry for more know...
Mar 29, 2023•11 min
In this week’s AM Now, Embarkers Adam Olsen and Matt Fisser tackle:: The FASB’s proposed enhancements to income tax disclosures The SEC’s recently proposed three rules related to cybersecurity and data breaches The IASB accelerating standards on disclosures concerning supply chain finance programs Key considerations for companies as they transition from audit season to proxy season For more information on these and related topics: FASB Project Update: Improvements to Income Tax Disclosures State...
Mar 22, 2023•11 min
