PwC's CFOdirect podcast

Are you using non-GAAP financial measures? Need an update on the SEC's rules and interpretative guidance around reporting this information? Then listen to this week's episode. Diane Howell, a partner in PwC's national office, joins Heather Horn to discuss 5 things companies should know about non-GAAP measures.

In this week's episode Andreas Ohl, a partner in PwC's National office, joins Heather Horn to discuss "day 2" lease accounting considerations. After spending so much effort just to adopt the new standard, some companies may not have begun to evaluate what comes next. Andreas introduces a concept some companies may not have on their radar: how do you assess the new lease right-of-use asset for impairment.

Need to know more about the ways the phase out of LIBOR could affect your company? If so, you're not alone. Some say it's one of the most important numbers in finance. So the replacement of LIBOR will reach far beyond the financial markets and is expected to impact the accounting and financial reporting for most companies. It's a complex topic and companies have a lot to think about as they prepare for this change. In this episode, PwC partner Heather Horn leads a lively discussion with Justin Keane, Chip Currie, and Nick Milone. Justin has been focused on LIBOR and reference rate reform efforts and has been on the front lines working with companies as they prepare for the change. Nick shares helpful perspective from his experience in our financial markets practice. And, Chip summarizes the key accounting issues based on his ongoing work as part of our national office.

Determining when to recognize revenue under the new revenue standard for customers in financial distress or bankruptcy requires judgment. Don't assume the answer is the same as it used to be. In this episode, PwC partners Heather Horn and Pat Durbin discuss five things you need to know about assessing collectibility under the new revenue standard, with a specific focus on recognizing revenue when customers are in financial distress or bankruptcy. We discuss the collectibility model: credit risk v price concession, the implications of the new credit risk model, judgment points in the model/when to reassess, factors to consider and document in the assessment, and other considerations.

What are investors' expectations when it comes to sustainability reporting, and how can companies improve the transparency of disclosures so that they are viewed as adequate, comparable, and reliable? In this episode, PwC partners Heather Horn and Sara DeSmith discuss five things that stakeholders and investors should know about sustainability reporting, including: An overview of sustainability reporting and how companies report on it today, investors perspectives on sustainability reporting and how they use the information, corporate perspectives on providing the information and deciding what should be disclosed, SASB reporting standards and how they fit into the larger conversation, and recommendations for what corporations should focus on to continue building their sustainability strategy.

The FASB's new guidance on hedging is effective this year. In this episode, PwC partners Heather Horn and Brian Staniszewski discuss five things you need to know when implementing the new hedging standard, including: An overview of the one-time transition elections available upon adoption of the new guidance, observations on applying the required transition guidance, understanding the new presentation and disclosure guidance, the potential impact on controls and processes, and some recent developments and future standard setting.

The UK's anticipated March 29 departure from the EU is top of mind for many businesses. Brexit will impact the global business community - including entities doing business with the UK and international companies with UK operations. In this episode, PwC partner Heather Horn and a panel of PwC professionals discuss 5 things you need to know about the accounting considerations related to Brexit, including: Impairment (goodwill, intangible assets, nonfinancial assets), Impact on financial assets (including valuation and hedge accounting), Restructuring, Tax accounting and Financial statement disclosures.

Listen to our insights on five items you need to know about the SEC's current agenda. We discuss: The SEC's rulemaking process, the request for comment on earnings releases and quarterly reporting, the proposed rules to simplify disclosures in certain debt offerings, potential simplifications to Rule 3-05 (financial disclosures about acquired businesses), and potential amendments to accelerated filer thresholds.

To help you prepare your year-end financial statements, listen to PwC partners discuss observations from SEC comment letters issued in the 2018 review cycle. In addition to examining the areas receiving the most attention from the SEC staff—including the new revenue standard, segment reporting, and fair value and other estimates—we also give listeners a few best practices to keep in mind when responding to SEC comment letters.

To help you prepare your year-end financial statements, listen to PwC partners discuss observations from SEC comment letters issued in the 2018 review cycle. In addition to examining the areas receiving the most attention from the SEC staff—including the new revenue standard, segment reporting, and fair value and other estimates—we also give listeners a few best practices to keep in mind when responding to SEC comment letters.

This fourth quarter 2018 edition of The quarter close publication will be read to you by Marc Jerusalem, a Director in PwC's National office. The publication provides timely accounting and reporting information that can help you prepare for year-end reporting. Topics include: An overview of the disclosure requirements for the new leases standard, before and after adoption, Information about SEC comment letter trends, Key considerations related to guidance that is effective now or with an effective date that is just around the corner, Additional insights about Brexit, digital assets, cybersecurity enforcement, and more, and a listing of topics that continue to present challenges to financial statement preparers and links to where you can find more detailed information. Get up to speed on the top issues for annual financial reporting on our CFOdirect webpage – easy to read on your phone, tablet or computer.

What has the SEC staff commented on in letters to companies on the new revenue standard? In this podcast, we examine some of the SEC comment letters related to companies who have adopted the new revenue standard and have received comment letters through October 2018. From our review of the letters, we’ll discuss our observations, including: identification of performance obligations, estimating transaction price, timing of revenue recognition, principal versus agent assessments (gross versus net reporting of revenue), and capitalized costs related to revenue contracts.

Getting ready to adopt the new leasing standard? In this episode, PwC leasing experts discuss overall readiness, new standard setting on transition elections and practical expedients, implementation challenges and best practices. Listen to the other podcast in this series: Episode 31: Leasing - remeasurement, modifications and terminations.

Trying to find an update on recent FASB standard setting? Stop looking and start listening. In this episode, we highlight the key accounting and financial reporting developments that took place during the third quarter of 2018. Among topics covered, we examine recently finalized accounting standards—including new amendments to the leasing standard, as well as changes made to the conceptual framework relating to the FASB's ongoing disclosure effectiveness project. We also discuss other amendments the FASB issued this quarter—including targeted improvements to the accounting for long-duration insurance contracts and new guidance related to cloud computing arrangements.

This podcast gives an overview of blockchain technology defined, the ways in which blockchain is being utilized in organizations, and four strategies listeners should consider when adopting blockchain technology.

This podcast will give you an overview of the similarities and differences between some of the newer US GAAP and IFRS accounting standards. While there are a number of similarities and differences between the two frameworks, this episode will focus on the three major accounting areas where the FASB and the IASB have issued new guidance in the last few years -- leases, financial instruments and revenue recognition.

The FASB's updated guidance on the definition of a business is now effective for public companies. It determines whether a transaction should be accounted for as a business combination or asset acquisition. Listeners will learn more about the new definition and the impacts - both direct and indirect - on various areas of accounting.

Trying to find an update on recent FASB standard setting? Stop looking and start listening. In this episode, we highlight the key accounting and financial reporting developments that took place during the second quarter of 2018. Among topics covered, we examine recently finalized accounting standards—including clarifying guidance on accounting for grants and contributions, as well as the new rules for share-based payment awards granted to nonemployees. We also discuss recently issued exposure drafts—including targeted improvements to the collaborative arrangements guidance—and give an update on accounting for implementation costs incurred in a cloud computing arrangement based on recent developments and the discussions at the June EITF meeting.

What can we learn from early adopters of the new revenue standard? In this podcast, we identify trends and provide insights into implementing ASC 606 based on SEC comment letters on 2017 filings of early adopters. From our review of letters to date, we'll discuss the four areas that seem to attract the most SEC staff attention. Those areas are related to: disclosures for the disaggregation of revenue, contract costs, performance obligations, and principal versus agent considerations.

In this podcast, we take a look at the FASB's new hedging guidance and highlight some of the bigger changes you can expect from the amendments. We highlight how the new guidance impacts the following areas: cash flow hedges of nonfinancial items, hedges of financial items, initial and ongoing effectiveness testing, financial statement presentation, disclosure requirements, effective dates and transition provisions, and the benefits of early adopting the guidance.