Your AM Now hosts Adam Olsen and Matt Fisser are back this week to deliver more news from the accounting & finance world, including:

• The finalization of the European Sustainability Reporting Standards (ESRS)
• ISSB on the importance of interoperability between climate disclosure standards
• UK plans to create Sustainability Disclosure Standards (UK SDS)
• Final rule on cybersecurity from the SEC
• More on the FASB project on the disaggregation of certain income statement expenses

For more information on these and related topics:

The Commission adopts the European Sustainability Reporting Standards

European Commission, EFRAG and ISSB confirm high degree of climate-disclosure alignment

UK Sustainability Disclosure Standards

SEC Adopts Rules on Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure by Public Companies

FASB: Disaggregation—Income Statement Expenses

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Building on our recent “GHG 101 – Introduction to Carbon Accounting” episode, Embarkers Adam Olsen, Zac Smith, and Fabian Garavito roll up their sleeves a bit higher this week. Want to know what emission factors involved in GHG (greenhouse gas) accounting and reporting mean for your accounting and reporting functions going forward? You came to the right place…so dig in!

For more information on carbon accounting and related topics:

Carbon Credit Accounting: Considerations for Environmental Credits

Why ESG Is So Important to Your Organization's Future

ESG Reporting Best Practices: Implementation & Beyond

GHG Inventory Development Process and Guidance

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Once again, your AM Now hosts Adam Olsen and Nicole Harger are here to discuss recent accounting news, including:

• Newest update from the FASB, ASU 2023-03
• SEC sample letter on China-related disclosures
• ESMA on sustainability disclosures in prospectuses
• ISSB proposed IFRS sustainability disclosure taxonomy
• IOSCO’s key endorsement of the ISSB’s sustainability-related financial disclosures

For more information on these and related topics:

FASB: Accounting Standards Update No. 2023-03

SEC: Sample Letter to Companies Regarding China-Specific Disclosures

ESMA provides insights into the expected sustainability disclosures in prospectuses

ISSB to publish Proposed IFRS Sustainability Disclosure Taxonomy

IFRS Sustainability Disclosure Standards endorsed by international securities regulators

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As if ASC 606 wasn’t complicated and challenging enough! Software companies face even higher hurdles than most thanks to a nuanced industry filled to the brim with complex arrangements. But have no fear because Embarkers Adam Olsen, Zac Smith, and Donald Thomas have your back in this episode of the Accounting Matters podcast, packed with insights and best practices to ease your rev rec woes.

For more information on ASC 606 and related topics:

Navigating ASC 606 Revenue Recognition: A Comprehensive Guide for CFOs

ASC 606, Revenue from Contracts with Customers

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Ready for some hot accounting topics? Join hosts Adam Olsen and Matt Fisser as they discuss what’s happening in accounting these days, including:

• Recent money market reforms from the SEC
• The SEC’s proposed amendments to broker-dealers
• The GASB’s newly published guide on leases and IT subscriptions   

For more information on these and related topics:

SEC Adopts Money Market Fund Reforms and Amendments to Form PF Reporting 

SEC Proposes Rule Amendments to the Broker-Dealer Customer Protection Rule

GASB, Implementation Guide No. 2023-1

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AM Now hosts Adam Olsen and Nicole Harger are at it again, delivering yet another round of critical updates from the accounting world, including:

• The FASB’s proposed standard update to improve the accounting for purchased financial assets under ASC 326
• A quick recap of the recent Private Company Council (PCC) meeting held at the end of June
• The IFRS Foundation takes over the monitoring of sustainability reporting progress from the TCFD.  

For more information on these and related topics:

Proposed Accounting Standards Update, Financial Instruments—Credit Losses (Topic 326)

PCC Meeting Recap

IFRS to Take Over Responsibilities of the TCFD

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Are you a public entity? And have you acquired – or will acquire – a significant business? Well, then do we have a stout SEC reg for you. Meet S-X Rule 3-05, a key piece of regulation registrants must know to file financial statements for an acquired business. And wouldn’t you know it – Embarkers Adam Olsen and Zac Smith cover that very topic on this episode of Accounting Matters. So pull up a seat and join us!

For more information on S-X Rule 3-05 and acquisitions:

Financial Disclosures about Acquired and Disposed Businesses

Purchase Accounting: Adjustments & Accounting for M&As

Accounting for Asset Acquisitions vs. Business Combinations: Sweat the Details

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AM Now hosts Nicole Harger and Matt Fisser break down this week’s news on the accounting front, including:

• The IFRS announced it officially launched its new global sustainability and climate disclosure standards (GSCR).
• The SEC reopened its comment period for its proposed rule on position reporting of large security-based swap positions.
• PCAOB issues a proposal to bring greater clarity to certain auditor responsibilities when using technology-assisted analysis
• A summary of the recent Audit Committee Spotlight issued by the PCAOB

For more information on these and related topics:

IFRS Releases Global Sustainability and Climate Reporting Standards

SEC Reopens Comment Period for Position Reporting of Large Security-Based Swap Positions

PCAOB on improved audit clarity when using technology-assisted analysis

PCAOB: June 2023 Spotlight, Audit Committee Resource

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Accounting for GHG (greenhouse gasses) is exactly how you think it is – unfamiliar and complex. And, like it or not, it’s going to be a requirement for many businesses soon. So join Embarkers Adam Olsen, Zac Smith, and Fabian Garavito for a discussion on carbon accounting, the common frameworks and disclosures in place, and what you need to do to help your business capture and report the right data.

For more information on carbon  accounting and related topics:

Carbon Credit Accounting: Considerations for Environmental Credits

Why ESG Is So Important to Your Organization's Future

ESG Reporting Best Practices: Implementation & Beyond

GHG Inventory Development Process and Guidance

Connect with Embark on:

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Listen to Accounting Matters on Apple Podcasts, Google Play, and Spotify.

In this episode of AM Now, hosts Adam Olsen and Matt Fisser cover a veritable potpourri of accounting news, including:

• The SEC spring 2023 reg-flex update on the expected timing of the final climate change disclosure rule, ESG investment practices, cyber risk disclosures, and more
• Continued discussions from the EITF on its recently added project, EITF Issue No. 23-A: Induced Conversions of Convertible Debt Instruments.  
• The ISSB is working towards issuing its first two sustainability standards IFRS S1 and IFRS S2 by the end of this month
• Recently issued observations from the PCAOB related to public company audits involving crypto assets

For more information on these and related topics:

SEC Spring 2023 Reg-Flex Agenda

Induced Conversions of Convertible Debt Instruments (EITF Issue No. 23-A)

IFRS: General Sustainability-related Disclosures

PCAOB: Inspection Observations Related to Public Company Audits Involving Crypto Assets

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Listen to AM Now on Apple Podcasts, Google Play, and Spotify.