Given all that has happened in 2020 and the continuing uncertainty in 2021 arising from the global pandemic, we expect that investors are going to be looking at how companies and auditors are comfortable that a going concern basis of accounting is appropriate and the disclosures around it. Katie Woods and Jamie Shannon discuss disclosures and judgements relating to material uncertainty about an entity’s ability to continue as a going concern.
Feb 04, 2021•20 min•Season 1Ep. 103
In October 2020, the IASB decided to begin the post implementation review of the IFRS 9 classification and measurement requirements. The IASB plans to conduct outreach for the first phase of the PIR in the first half of this year targeting a request for information in the third quarter of 2021. Marie Kling explains what this means for the year ahead.
Jan 20, 2021•16 min•Season 1Ep. 102
Hilary Eastman looks at what investors want to know about 2020, covering the impact of COVID-19, climate-related financial risks and the importance of transparency in financial statements.
Jan 11, 2021•13 min•Season 1Ep. 101
Scott Bandura talks us through how emissions trading schemes work and the accounting challenges. Is there a difference in accounting between granted and purchased allowances? Is there an obligation as emissions are generated? Find out about the challenges and current diversity in the accounting in this latest episode.
Dec 14, 2020•15 min•Season 1Ep. 100
Karsten Ganssauge talks through the December IFRIC agenda. The episode focuses on supply chain financing; the impact of covenants on the classification of current or non current liabilities and whether customisation and configuration costs can be capitalised as intangible assets.
Dec 07, 2020•24 min•Season 1Ep. 99
Paul Shepherd provides an overview of the discussion paper, Business Combinations - Disclosures, Goodwill and Impairment. He summarises the proposals for additional disclosures, simplifications to the impairment test and the Boards consideration for goodwill amortisation. Find out all in the latest podcast.
Nov 24, 2020•21 min•Season 1Ep. 98
Katie Woods walks through the impacts of COVID-19 on accounting for employee benefits - pensions, share based payments, bonuses, and termination benefits.
Nov 16, 2020•16 min•Season 1Ep. 97
Darrel Scott talks about his time at the IASB including the IFRIC committee and the standard setting process.
Nov 03, 2020•21 min•Season 1Ep. 96
Scott Bandura explains the importance of climate risk for both financial and non financial reporting. Does IFRS consider climate risk? How can it impact accounting? What are the latest developments around ESG reporting & assurance? Scott tells all in the latest episode.
Oct 19, 2020•17 min•Season 1Ep. 95
In August 2020 the IASB concluded their IBOR reform project and issued the Phase 2 amendments. Chris Raftopoulos, Marie Kling and Mark Randall recap on Phase 2 and explain the key amendments - scope, contractual cash flow relief and hedge accounting.
Oct 12, 2020•21 min•Season 1Ep. 94
Karsten Ganssauge talks through the September IFRIC Agenda. How to account for a sale and leaseback in a corporate wrapper and a proposed Board amendment to IAS 12, Taxes.
Sep 22, 2020•19 min•Season 1Ep. 93
EP 92: Join Ruth Preedy and Katie Woods as they talk through the judgements involved to account for revenue contracts over time.
Sep 17, 2020•17 min•Season 1Ep. 92
In May 2020, the IASB released a package of narrow scope amendments on IAS 16, proceeds of testing, IAS 37, onerous contracts, IFRS 3, recognition of liabilities in a business combination and annual improvements 2018 - 2020 (IFRS 1, IAS 41 and IFRS 9 and IFRS 16.)
Aug 28, 2020•16 min•Season 1Ep. 91
This podcast looks back at the last 33 years of the accounting life and times of Sandra Thompson, Global IFRS Financial Instrument Leader, PwC UK; her favourite accounting standards, proudest moments, and hints and tips on being a financial statement reviewer.
Aug 13, 2020•13 min•Season 1Ep. 90
Join PwC professionals as they discuss the proposed changes to the statement of profit and loss exposure draft in 20 minutes.
Jul 30, 2020•22 min•Season 1Ep. 89
This podcast looks back at the last 38 years of the accounting life and times of Tony Debell, Global IFRS Technical Leader for 14 of those years; his favourite accounting standards, proudest moments, biggest changes in standard setting and his hints and tips on being an IFRS guru and financial statement reviewer.
Jul 16, 2020•15 min•Season 1Ep. 88
Sandra Thompson (PwC UK) and Scott Bandura (PwC Canada) explain the latest on COVID-19 rent concessions. What is in scope of the amendment to IFRS 16? When is it effective? And what do lessors do even though they are not included in the amendment?
Jul 02, 2020•20 min•Season 1Ep. 87
Do you have intangibles that you use and then sell? Do you control subsidiaries that will pay tax when they distribute profits? Do you have sale and leaseback arrangements with variable leaseback payments? Are you engaged in supply chain financing or reverse factoring? If the answer to any of these is yes, listen to Karsten Ganssauge's (PwC Germany) summary of the June IFRIC meeting.
Jun 25, 2020•24 min•Season 1Ep. 86
PwC professionals discuss several of the key COVID-19 issues to consider when preparing your interim reporting. Impairments, taxes, pensions, presentation and disclosure and lots more.
Jun 21, 2020•19 min•Season 1Ep. 85
How do you account for a tax holiday or a change in tax rate as a result of COVID-19? In this episode, Dave analyses whether this assistance is in the scope of IAS 12 taxes, and if it is what you need to do.
Jun 17, 2020•14 min•Season 1Ep. 84
What do Corporates need to do to measure the impairment of their trade receivables? Marie Kling (PwC US) explains the key principles of the expected credit loss (ECL) model including what needs to be updated in light of COVID-19.
Jun 11, 2020•20 min•Season 1Ep. 83
Gary Berchowitz (PwC UK) looks at how entities are presenting the impacts of COVID-19 in their financial reporting? What are regulators allowing in terms of adjustments to non-GAAP performance measures? Are entities allowed to present a separate line item for COVID-19 in the income statement? And what does the IFRS guidance say? Find the answers to all of those questions in this latest episode.
Jun 09, 2020•15 min•Season 1Ep. 82
What is the impact of IFRS 16, Leases, on IAS 36 impairment? PwC's professional share the latest updates in IFRS.
Jun 05, 2020•13 min•Season 1Ep. 81
What has been discussed and debated at the April Interpretations Committee? Karsten Ganssauge talks through IAS 12, Income taxes and supplier financing arrangements.
May 21, 2020•16 min•Season 1Ep. 80
What are the impacts of COVID-19 on hedge accounting? Marie Kling looks at both IAS 39 and IFRS 9 for cash flow and fair value hedges.
May 14, 2020•21 min•Season 1Ep. 79
COVID-19 has resulted in changes to loan agreements and payment schedules. How should these changes be accounted for in IFRS 9, Financial instruments? Marie Kling talks through modification, ECLs, business model assessments and more.
May 08, 2020•17 min•Season 1Ep. 78
Scott Bandura explains the challenges of measuring fair value in a time of uncertainty. How do you value investment properties? Do discount rates need to change? How do you adjust your models? Ruth Preedy (PwC UK) and Scott Bandura (PwC Canada) discuss the principles of IFRS 13.
May 06, 2020•14 min•Season 1Ep. 77
The COVID-19 pandemic has resulted in a number of different lease concessions. What do a lessor and lessee need to consider in accounting for these? Are they modifications or something else? Sandra Thompson (PwC UK) talks through all the judgements around lease concessions and explains the IASB guidance and exposure draft.
Apr 30, 2020•21 min•Season 1Ep. 76
Is the COVID-19 pandemic an indicator of impairment in IAS 36? If yes, how do you do the impairment test in this uncertain time? How is risk factored into cash flows and the discount rate? Paul Shepherd and Ruth Preedy answer all those questions and more in the latest episode of PwC IFRS Talks.
Apr 28, 2020•16 min•Season 1Ep. 75
Should entities incorporate the impact of COVID-19 in their Q1 2020 period end? Should you adjust the measurements of assets based on post balance sheet information? Is there a difference between an asset measured at fair value or a non fair value measurement. Gary Berchowitz and Ruth Preedy discuss all these questions in this latest episode.
Apr 22, 2020•18 min•Season 1Ep. 74
