Podcasts about chief accountant

Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.A video of this podcast is available on YouTube, Spotify, or PwC's website at viewpoint.pwc.comWe 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 that ensures 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 requirements4:13 – Cybersecurity incident triggers and reporting requirements7:58 – Key reminders and insights into frequent questions and common pitfalls, including:15:05 –Acquisitions, dispositions, restructurings, and impairments 21:40 – Corporate governance-related activities22:55 – Change in auditor25:21 – Material contracts27:04 – Change in segmentsIn case you missed it – check out the other episodes in this video podcast miniseries:Inside SEC reporting: Capital formationInside SEC reporting: Acquisitions and divestituresInside SEC reporting: Pro forma financial informationBe sure to follow this podcast on your favorite podcast app and subscribe to our weekly newsletter for the latest thought leadership.About our guestsRaquel 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 hostKyle 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.A video of this podcast is available on YouTube, Spotify, or PwC's website at viewpoint.pwc.comWe 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 requirements12:18 – 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.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.A video of this podcast is available on YouTube, Spotify, or PwC's website at viewpoint.pwc.comThis 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.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 statement7:20 – Disclosure requirements8:35 – 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 statement18:22 – Disclosure requirementsFor 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 fundamentalsReporting reset – Fair value disclosuresReporting reset – Consolidation disclosuresReporting reset – Stock-based compensationBe sure to follow this podcast on your favorite podcast app and subscribe to our weekly newsletter for the latest thought leadership.About our guestCatherine 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 hostKyle 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.A video of this podcast is available on YouTube, Spotify, or PwC's website at viewpoint.pwc.comAs 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 landscape05:54 – SEC climate rule updates and expected regulatory shifts22:33 – State sustainability regulations: California and other states27:13 – The potential impact of the upcoming EU's omnibus regulations30:06 – How to move forward amid uncertaintyLooking for the latest developments in sustainability reporting? Read PwC's Sustainability reporting guideRefer to Acting Chairman Mark Uyeda's Statement on climate-related disclosure rulesFollow our series and subscribe to our weekly newsletter to stay in the loop About our guestKyle 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 hostHeather 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.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 actions9:27 – The current priorities of the new administration22:30 – Potential impacts on the PCAOB and SEC 40:29 – Tax policy outlook and potential corporate tax changes49:21 – AI regulation, mergers and acquisitions, and moreFor 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 guestRoz 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 hostGuest 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.If you have any questions about our series, reach out to us at us_podcast@pwc.com. 

Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.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 policy6:31 – The legislative roadmap, including budget reconciliation13:14 – Key provisions likely to shape a 2025 tax bill23:31 – International tax initiatives and their connection to US policy29:05 – Steps businesses can take to prepare for tax changesFor 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 Washington National Tax Services 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.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 standard5:00 – Which entities are impacted by the new requirements7:53 – Key disclosure requirements, including tabular reporting13:26 – Challenges in disclosing inventory-related expenses20:07 – Use of estimates and data limitations in reporting27:33 – Transition timeline and practical steps for implementationFor 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.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 20253:42 – Joint venture formations12:53 – Crypto assets24:39 – Profits interests and similar awards33:39 – Investments in tax credit entitiesAdditionally, 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.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 committees5:00 – Key issues finance teams should prepare to address with audit committees in 2025, including:5:23 – Impacts of the presidential administration change8:03 – Best practices for managing the board agenda12:50 – The role of technology transformation and AI in business17:09 – Navigating mergers and acquisitions effectively   22:40 – Strengthening risk oversight and enhancing disclosures26:22 – Insights into core areas of audit committee oversight, including financial reporting and controls36:33 – 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.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 Conference9:43 – Funds held on behalf of others and assessing predominance18:48 – Non-cash transactions, constructive receipt and disbursement, and the cash flow treatment of cryptocurrency28:50 – Gross versus net cash flows and cash flow treatment of: excise taxes, insurance recoveries, and debt restructuring39:30 – FASB project on the statement of cash flows for financial institutionsFor 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 mattersSuzanne 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 hostGuest 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.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 statements20:44 – Recent SEC statements and areas of focus relating to materiality and errors31:43 – 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 officeYear-end toolkit: Accounting and reporting reminders for 2025Year-end toolkit: Audit reminders for preparersYear-end toolkit: Tax accounting and reporting reminders for 2025Additionally, 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.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 results10:50 – Pillar Two 17:36 – The FASB's disclosure standard 21:58 – Uncertain tax positions27:56 – Inflation Reduction Act credits and valuation allowances32:43 – Advice for year-end income tax accountingFor 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 preparersYear-end toolkit: Year in review from the corner officeYear-end toolkit: Accounting and reporting reminders for 2025And 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.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 Developments12:06 – Accounting policies and controls20:28 – The execution or modification of significant contracts and agreements23:08 – Complete and accurate disclosures within the financial statements 26:48 – Independence28:54 – Known or suspected fraud or illegal acts 34:44 – AI in financial reportingFor 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 officeYear-end toolkit: Accounting and reporting reminders for 2025Additionally, 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.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 disasters6:04 – Highly inflationary economies8:20 – Tax regulatory landscape12:07 – Close calls on impairments and other accounting estimates14:13 – Revenue15:56 – Contract modifications25:41 – Capital raising transactions32:35 – Statement of cash flows37:05 – Segment reporting43:28 – Supplier finance obligations44:59 – New standards and looking ahead to 2025Check 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 mattersPat 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.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 conference10:11 – Supreme Court case rulings impacting financial regulation and rulemaking from the year15:17 – What's on the horizon for cryptocurrency accounting and the latest on the cybersecurity disclosure rule27:32 – Notable regulatory activity from the PCAOB, including the costs and benefits of current proposed rules40:21 – What role the FASB plays in the current regulatory and rulemaking landscape47:12 – SEC climate disclosure rule and other sustainability requirements53:30 – What's in store for 2025Tim 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.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 recurring41:17 – Controls over non-GAAP measures46:12 – Advice and other considerations when responding to comment letters51:38 – 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.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 measures16:15 – Segment reporting21:32 – Revenue25:01 – Management's Discussion and Analysis30:29 – Financial instruments41:39 – FPI status re-assessment44:53 – IFRS segment reporting considerations  47:45 – Other accounting and reporting reminders related to FPIsFor 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 20242024 SEC comment letter trends: Revenue2024 SEC comment letter trends: Business combinations2024 SEC comment letter trends: Segment reporting2024 SEC comment letter trends: MD&AAdditionally, 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.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 resources27:19 – Critical accounting estimates35:16 – 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 20242024 SEC comment letter trends: Revenue2024 SEC comment letter trends: Business combinations2024 SEC comment letter trends: Segment reportingAdditionally, 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.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 reporting11:49 – Identifying operating segments15:13 – Aggregation of operating segments 16:36 – Entity-wide segment disclosures 19:18 – Multiple measures of segment profit or loss20:55 – Reconciliations to segment profit or loss 23:18 – Considerations when adopting the FASB's new segment reporting guidance35:21 – 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: Revenue2024 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.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 combinations5:14 – Determining whether a transaction is an asset acquisition or business combination7:34 – The definition of a “business” in US GAAP as compared to SEC rules9:23 – Comments related to omitted disclosures12:39 – Pro forma disclosures and financial statements of acquired or to-be-acquired businesses25:45 – Other reminders and areas of focus related to business combinationsFor 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.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 process14:19 – 2024 SEC comment letter themes15:31 – Key SEC staff focus areas related to management's discussion and analysis18:59 – Key SEC staff focus areas related to non-GAAP measures21:37 – Other reminders and areas that preparers should focus on moving into year endFor 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. 

Text us your thoughts on this episodeWe 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 translation05:56 – Measurement of foreign currency transactions09:56 – Exchange rate considerations22:26 – 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. 

Public prosecutors demanded Friday that the chief accountant of a Liberal Democratic Party faction once led by former Prime Minister Shinzo Abe be sentenced to three years in prison over slush funds created by the largest faction within the ruling party.

Text us your thoughts on this episodeThis 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 administration5:40 – The SEC's rulemaking agenda7:28 – Recent court actions impacting the SEC21:10 – Non-GAAP measures29:00 – Cybersecurity37:24 – Artificial intelligence41:33 – Other SEC focus areas46:36 – 90 years of history at the SECFor 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. 

Text us your thoughts on this episodeWith the finalization of the SEC's climate disclosure rules and subsequent stay, along with other developments in the sustainability reporting landscape, the pace of change can seem dizzying. In this podcast, host Heather Horn sits down with Kyle Moffat, PwC National Office partner, and Casey Herman, PwC Sustainability partner, to take stock of the landscape and consider what companies can and should be doing now to navigate the uncertainty and prepare for future compliance.In this episode, we discuss:2:24 - Status of the SEC's climate disclosure rules and actions taken by the Commission since the rules were finalized in March5:57 - The uncertainties and potential outcomes related to the rules11:06 – Other climate disclosure frameworks and compliance requirements that will move forward regardless of the SEC rules13:25 - The increased awareness of climate risks at the board level and the importance of accuracy in climate reporting16:05 - The continued commitment of companies to their sustainability goals despite regulatory uncertainties18:10 - Why companies continue to set sustainability goals and evaluate climate risks25:15 - What companies should focus on next in today's complex regulatory environmentLooking 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. Also, listen to our deep dive on the SEC climate rules here.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.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. 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. 

In this episode, host Heather Horn sits down with Kyle Moffatt, PwC's Professional Practice leader, and PwC National Office partners Kevin Vaughn and Valerie Wieman to break down the much-anticipated SEC climate-related disclosures rules.  For more information on the SEC climate-related disclosure rules, refer to our In brief publication. 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.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.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 accommodation. Please send requests to us_podcast@pwc.com. 

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 with an increased risk of fraud and error. 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. 

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.  

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 may need a disability-related accommodation. Please send requests to us_podcast@pwc.com. 

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 actions18:28 - The impact of a potential government shutdown on the SEC's review process and on the capital markets more broadly22:43 - An overview of the the top SEC comment letter trends in 202329:14 - Insights into changes in the SEC's priorities and volume of comment letters, updates on the climate disclosure proposal, and 2024 enforcement priorities34:11 - Key insights into what preparers should focus on, including the importance of “Dear Issuer” letters and reminders for new rules that are effective in 202439:13 - Final advice for preparers entering the year-end reporting seasonWant 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.

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 accounting6:04 - Initial considerations for applying hedge accounting, including an overview of the effectiveness assessment10:07 - A breakdown of the three most common hedge strategies and why companies might use them10:21 - Cash flow hedges12:23 - Fair value hedges14:33 - Net investment hedges17:49 - Common examples of and questions related to hedging strategies 22:02 - Common pitfalls in applying hedge accounting27:57 - An overview of other hedging strategies, their purpose and how to use them28:04 - Forecasted debt issuance hedges35:29 - Foreign currency hedges39:04 - Hedging strategies for companies with foreign subsidiaries42:42 - Commodity hedges47:05 - Hedging strategies that do not qualify for hedge accounting50:22 - Final reporting considerations and key reminders for companies using hedge accountingFor 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.

In this episode, we discuss the SEC's new cybersecurity disclosure rules finalized in July. The new disclosure rules expand registrants' annual disclosures and require more specific details for material cybersecurity incidents. With these significant changes and the implementation approaching, companies should not wait to get ready. This week, Heather Horn is joined by Kyle Moffatt, PwC National Office Professional Practice Leader, and Matt Gorham, PwC's Cyber & Privacy Innovation Institute Leader, to discuss what companies can do to prepare now for the new requirements.In this episode, you'll hear discussion of:4:28 - Why cybersecurity is an area of focus for the SEC 8:03 - A summary of the SEC's new cybersecurity rules and disclosure requirements10:21 - Types of cyber incidents, including what's required to be disclosed in the Form 8-K and how companies should think about “material” impacts12:58 - The importance of developing relationships with federal law enforcement and how smaller companies can start to build those relationships20:19 - An ideal sequence of action steps when a cyber incident occurs24:32 - Top considerations when preparing to disclose in accordance with the SEC's cybersecurity rules33:10 - Key takeaways for companies reviewing their processes and preparing for the new disclosure requirementsLooking for more information on cybersecurity? Check out our publication and register for our Q3 2023 Quarterly accounting webcast for a detailed discussion of the SEC's cybersecurity rules with Kyle; PwC Vice Chair, Wes Bricker; and Raquel Fox, Partner & Co-Head of SEC Reporting and Compliance; Capital Markets; M&A; Corporate Governance at Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates. 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.Matt Gorham is PwC's Cyber & Privacy Innovation Institute Leader, providing thought leadership, perspective, and analysis on trends affecting all aspects of cybersecurity and privacy. He has over three decades of experience mitigating threats through building and leading cross functional teams. Before PwC, Matt spent 25 years with the FBI as the Assistant Director of Cyber.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.

Tom Barbieri, PwC's Chief Accountant, is accelerating the first episode in our October all-star series to share insights on critical accounting and reporting topics.To kick off the series, Tom is joined by Gary Sardo, Financial Accounting Standards Board (FASB) practice fellow, to discuss FASB's disaggregation of income statement expenses (DISE) project.In this episode, you'll hear:3:51 - An overview of investor feedback and background on the FASB's decision to propose enhancing the disclosure requirements for income statement expenses7:54 - Companies impacted by the proposed standards10:32 - A breakdown of the proposed disclosure requirements, including:13:42 - Defining “relevant expense captions,” distinguishing features of each caption and the associated proposed requirements16:22 - Materiality considerations17:30 - Investor and preparer feedback on the proposed standard, including practical challenges in the inventory expense breakdown21:26 - Details on the proposal to further break down inventory and manufacturing expense24:00 - Operability challenges and data needs that companies should be considering now24:42 - Details on the proposed disclosure requirements for:24:44 - “Other” expense categories29:59 - Selling expenses32:26 - A summary of the proposed reporting requirements, including timing considerations and how companies can prepare for the transition37:53 - Next steps on the FASB's agenda and final advice for companies who seek to get prepared and engaged prior to the end of the comment periodFor more on the status and details of the project, refer to the exposure draft on the FASB website. Additionally, tune into PwC's Q3 2023 quarterly accounting webcast for more on the DISE project.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.Gary Sardo is a practice fellow at the Financial Accounting Standards Board. Prior to his role at the FASB, Gary was a director at PwC with over 15 years of experience, most recently in PwC's Deals practice specializing in capital markets and accounting advisory services.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 us_podcast@pwc.com

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 credits7:45 - The different pathways to realization of tax credits11:45 - How companies should allocate consideration paid for IRA credits17:07 - The difference between renewable energy credits (RECs) and IRA credits24:32 - Accounting for tax credits by analogy to IAS 20, Accounting for Government Grants and Disclosure of Government Assistance43:16 - Accounting for tax credits using under the ASC 740, Income Taxes, model56:44 - Tax credit disclosure and control considerationsLooking 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.

KPMG hosts SEC Chief Accountant Paul Munter to discuss priorities and changes in a rapidly transforming world.

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 events4:55 - Complexities in determining if conditions existed as of the balance sheet date11:08 - The importance of having processes and controls in place to monitor subsequent events18:27 - 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.

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.

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 restructuring19:56 - 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 restructuringFor 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.

In each episode of our Year-end toolkit series, our guests discuss key areas of the year-end reporting process.In this episode, PwC National Office leaders join us to discuss what is top of mind for each of them on year-end reporting, including the impact of macroeconomic and geopolitical events. In this episode, you will hear reminders on:1:39 - Rising interest rates and their influence on nonfinancial asset impairment and debt modifications13:36 - The effect of market volatility on debt and equity investments and stock compensation 23:30 - The impact of inflation on revenue and inventory accounting29:59 - The importance of robust disclosures related to macroeconomic events33:49 - The effect of supply chain disruptions on the business39:09 - Accounting issues that arise in business or asset dispositions as well as restructurings amid recession concerns 51:15 - Assessing subsequent eventsStay tuned for the next episode in our Year-end toolkit series. Listen to our previous 2022 SEC comment letter podcast series for more insights related to SEC reporting, including comments letter trends related to current events, and our previous impairment toolkit podcast series, including financial and nonfinancial asset impairment.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. 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, 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.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. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com.

The 2022 AICPA & CIMA Conference on Current SEC and PCAOB Developments included representatives from the SEC, PCAOB, FASB, IASB, and other market participants. Speakers provided deep dives into regulations and standards, insights on SEC areas of focus, and more. Heather Horn was joined by Angela Fergason and Kyle Moffatt, National Office partners, to discuss highlights  and takeaways from this year's Conference.In this episode, you'll hear discussion of:1:01 - Top themes emerging from the Conference10:53 - SEC staff perspectives shared at the Conference on how companies can enhance transparency18:33 - SEC staff comments on non-GAAP and an announcement of new guidance on these measures25:54 - The increased focus on cryptocurrency at the Conference34:20 - ESG takeaways from the Conference and our guests' anticipated timing for the final climate rule39:43 - Key takeaways for companies going into the year-end reporting seasonWant to learn more about the SEC's areas of focus? Read our publication summarizing the Conference, and listen to our 2022 SEC comment letter trends podcast series.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.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.

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 receiving11:45 - Who should be involved in telling a company's story in MD&A14:56 - How the SEC's priorities influence comments in this area 19:41 - The importance of company compliance with the overarching principles of MD&A24:20 - How emerging trends are impacting comment letters 33:12 - Advice for companies as they prepare their year-end filingsWant 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.

The Defense Department, in a recent audit, could not account for some 61% of its assets. Pentagon Comptroller Mike McCord said "we failed to get an 'A'" and called it "a teachable moment" that should help the department get better. Bill Whittle thinks heads should roll. Bill Whittle, Stephen Green and Scott Ott have co-hosted a current events show multiple times weekly since 2009 thanks to our Members and donors. To become a Member and unlock exclusive features of our site: https://BillWhittle.com/register/ To donate with PayPal or bank card: https://BillWhittle.com/donate-to-Bill-Whittle/

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 them6:41 - The challenges and judgments associated with non-GAAP measures9:32 - How the focus of the current SEC administration impacts the type and volume of comment letters12:03 - The top non-GAAP comment letter trends and the importance of continuously reassessing these measures20:58 - The interaction of current macroeconomic events and non-GAAP measures 27:34 - What companies should focus on when looking ahead to year-end reporting31:12 - Final advice when responding to SEC staff comments on non-GAAP measuresWant 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.

On this episode of the inSecurities podcast, Chris and Kurt chat with Matt Jacques, a former Chief Accountant for the SEC's Division of Enforcement. Matt discusses the role of the Chief Accountant, the auditor's responsibility for identifying fraud, and a few hot topics in SEC accounting and disclosure cases, including materiality and revenue recognition. 

Irina Andreeva is a professional tracker. The focus of her work is the sustainable growth of the business, working with opportunities and limitations, developing the team and the entrepreneur. She became the winner in the 2018 and 2019 Tracker of the Year awards in the "Working with a team" and "Working with early-stage startups" nominations. Irina is also a lecturer at the Higher School of Economics and the University of Netology. Irina often gives lectures and leads workshops. She is also the author of the courses and programs "Team as a Driver of Growth", SELF-TRACKING, "Me as a Resource", "Environment as a Resource". As a co-founder of DistingTec, she is engaged in the employment of people with ASD in the IT field. Irina's own managerial experience is over 30 years in the banking industry. At the same time, she has been a top manager for more than 10 years, was a member of the Board of Directors, Deputy Chairman of the Board, Chief Accountant of the bank. FIND IRINA ON SOCIAL MEDIA Faceebok | VKontakte | Telegram | Instagram ================================ SUPPORT & CONNECT: Support on Patreon: https://www.patreon.com/denofrich Twitter: https://twitter.com/denofrich Facebook: https://www.facebook.com/denofrich YouTube: https://www.youtube.com/denofrich Instagram: https://www.instagram.com/den_of_rich/ Hashtag: #denofrich © Copyright 2022 Den of Rich. All rights reserved.

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 letters10:38 - The top comment letter trends in 2022 16:03 - How companies should consider “Dear Issuer” letters in their year-end reporting23:13 - The SEC staff's approach to comment letters and what we expect in the near future28:06 - The SEC staff's comments in proxy statements30:49 - Kyle's advice for SEC registrants on what to do if they receive a comment letterWant 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.

Accounting Summer School continues as Chris and Kurt chat with Howard Scheck, a Partner at StoneTurn Group LLP and a former Chief Accountant in the SEC's Division of Enforcement. They discuss Howard's career as a JD/CPA, his experience in the Division of Enforcement, and his take on today's trends in accounting and audit enforcement.

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 lease4:53 - How to think about the “in exchange for consideration” part of the definition and “free” leases10:34 - The identified asset criteria and “floating” leases15:47 - The substitution rights criteria and how to assess the ability to economically benefit from substitution20:52 - Common questions on understanding the right to substantially all economic benefits criteria27:03 - The right to direct the use of the asset criteria and predetermined rights38:07 - 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.