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 foundat...
Jul 11, 2023•42 min
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 Allar...
Jul 06, 2023•47 min
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 sustain...
Jun 29, 2023•47 min
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 ov...
Jun 27, 2023•37 min
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 t...
Jun 22, 2023•44 min
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 - C...
Jun 20, 2023•28 min
The European Commission has adopted a set of proposals, known as the European Green Deal, including the Corporate Sustainability Reporting Directive (CSRD), which marks a new era of sustainability reporting in the EU. Under the CSRD, companies will soon have to report on a wide range of environmental, social and governance matters in compliance with European Sustainability Reporting Standards (ESRS). On June 9, the European Commission released revised ESRS for public feedback. For this episode, ...
Jun 15, 2023•34 min
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: ...
Jun 13, 2023•27 min
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 ...
Jun 08, 2023•49 min
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 Servi...
Jun 06, 2023•30 min
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 ...
Jun 01, 2023•40 min
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 transaction...
May 30, 2023•39 min
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 issu...
May 25, 2023•51 min
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 episo...
May 23, 2023•40 min
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 joi...
May 18, 2023•39 min
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, ...
May 16, 2023•32 min
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 iss...
May 11, 2023•49 min
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 Sust...
May 04, 2023•52 min
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 kick off the series, Heather Horn and Jenn are joined by Pat Brown, the co-leader of PwC's Washington National Tax Services practice, to share insights on the OECD and the US minimum corporate tax legis...
May 02, 2023•1 hr 1 min
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 Sust...
Apr 27, 2023•54 min
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 pu...
Apr 25, 2023•49 min
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 ...
Apr 20, 2023•52 min
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 ch...
Apr 18, 2023•38 min
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, su...
Apr 13, 2023•33 min
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 disclos...
Apr 11, 2023•38 min
With more than 10,000 companies around the world using its standards, the Global Reporting Initiative (GRI), focused on “impact reporting” (reporting of a company’s impact on ESG issues), continues to be a major player in the ESG reporting space, even with the advancement of mandatory reporting proposals based on other frameworks. So what is ahead for the organization strategically and what role will impact reporting play in the future ESG reporting ecosystem? This week, Heather Horn was joined ...
Apr 06, 2023•53 min
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 ...
Apr 04, 2023•36 min
Will 2023’s economy be substantially different from last year’s? This week, Heather Horn was joined by Craig Stronberg and Zain Siddiqui, directors in PwC Intelligence, to discuss the latest macroeconomic and geopolitical developments. Craig and Zain share insights on why companies should be thinking ahead when it comes to the state of the economy and volatility in the global markets. In this episode, you’ll hear discussion of: 2:20 - The forces shaping the economic outlook for the rest of 2023 ...
Mar 30, 2023•49 min
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 uncertai...
Mar 28, 2023•43 min
As we approach the end of 2023’s first quarter, we wanted to take time today to zoom out to the broader business environment that finance organizations are navigating. Between a tightening money supply, inflation, and ongoing demands from investors and stakeholders to grow in a sustainable way – we wanted to ask, how are companies managing it all? What are their near term and long-term priorities, and how are these changing in the current environment? Heather Horn was joined by Wes Bricker, PwC’...
Mar 23, 2023•48 min
