We continue our revenue accounting miniseries with an episode taking a closer look at variable consideration—an essential and sometimes complex element in determining transaction price. From performance bonuses to volume-based rebates, we explore how to estimate and constrain variable amounts as well as when key exceptions apply.

In this episode, we discuss:

• 0:58 – Why variable consideration is a critical element of the ASC 606 model
• 7:00 – The general model for estimating variable consideration
• 9:02 – Applying the constraint on the amount of variable consideration
• 18:25 – Common types of arrangements that include variable consideration, such as volume-based rebates and discounts
• 20:59 – Key exceptions to the general model:
  • 21:10 – Sales- or usage-based royalty exception
  • 26:04 – Variable consideration allocation exception
  • 30:24 – Right-to-invoice measure of progress exception

For more information, see chapter 4 of our Revenue from contracts with customers guide. You can also listen to the first episode in this series, Revenue accounting reset – Recognizing revenue.

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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.

Chris Bourdon is a partner in PwC's National Office who specializes in accounting for revenue, inventory, and employee compensation arrangements. He also consults on a range of financial reporting issues impacting technology, media, and entertainment companies.

About our host

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 [email protected]. 

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We kick off our latest accounting podcast miniseries on revenue accounting with a foundational discussion on revenue recognition. In this episode, we tackle recognizing revenue —the final step of the ASC 606 model—and examine how to determine whether performance obligations are satisfied over time or at a point in time.

In this episode, we discuss:

• 0:54 – Overview of the ASC 606 revenue model
• 5:30 – Identifying performance obligations satisfied over time
• 11:15 – Identifying performance obligations satisfied at a point in time
• 21:19 – Measures of progress to determine the timing of revenue recognition
• 33:45 – Exceptions to over-time revenue recognition

For more information, see chapter 6 of our Revenue from contracts with customers guide.

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About our guests

Pat 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.

Mike Coleman is a partner in PwC's National Office who specializes in accounting for revenue and software arrangements and has served technology clients for much of his career. In addition, Mike has represented the firm on the AICPA Software Task Force.

About our guest host

Guest host Diana Stoltzfus is a partner in the National Office who helps to shape PwC’s perspectives on regulatory matters, responses to rulemakings and policy development, and implementation related to significant new rules and regulations. Prior to rejoining PwC, Diana was the Deputy Chief Accountant in the Office of the Chief Accountant (OCA) at the SEC where she led the activities of the OCA’s Professional Practices Group.

Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to [email protected]

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We continue our lease accounting podcast miniseries with an episode focused on embedded leases. Some arrangements to provide services or purchase inventory rely on the use of a specific asset to fulfill the contract. Even if the word “lease” doesn’t appear, the rights conveyed to the customer may still meet the definition of a lease—shifting the transaction from simply purchasing services or goods to leasing an asset. We explain why identifying an embedded lease is critical and how it can significantly impact the accounting and financial reporting for both customers and suppliers.

In this episode, we discuss:

• 1:40 – An overview of embedded leases and common arrangements
• 6:50 – Determining whether an arrangement contains a lease
• 24:07 – Allocating contract consideration to lease and nonlease components
• 34:19 – Available practical expedients
• 39:01 – Accounting and reporting implications

For more information, see chapter 2 of our Leases guide and chapter 4 and 5 of our Revenue from contracts with customers guide. You can also listen to the other episodes in this series:

• Lease accounting reset - Presentation and disclosure
• Lease accounting reset - Modifications and terminations
• Lease accounting reset – Variable rents

Be sure to follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to for the latest thought leadership.

About our guests

Marc Jerusalem is a PwC National Office managing director specializing in leasing. Marc consults with clients on complex lease accounting issues and is a frequent contributor to many related PwC National Office publications.

Pat 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.

About our guest host

Guest host Diana Stoltzfus is a partner in the National Office who helps to shape PwC’s perspectives on regulatory matters, responses to rulemakings and policy development, and implementation related to significant new rules and regulations. Prior to rejoining PwC, Diana was the Deputy Chief Accountant in the Office of the Chief Accountant (OCA) at the SEC where she led the activities of the OCA’s Professional Practices Group.

Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to [email protected]

Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

We continue our lease accounting miniseries with a focus on variable lease payments, an area that can significantly influence lease classification and measurement. In this episode, we explore the complexities of usage-based and index-based payments, fair market rent adjustments, in-substance fixed payments, and more – providing insights into how these variable rents affect the accounting and disclosures.

In this episode, we discuss: 

• 1:12 – Fixed versus variable lease payments and their accounting implications 
• 7:13 – Fair market rent adjustments 
• 9:37 – In-substance fixed payments, including take-or-pay arrangements 
• 15:44 – Usage-based lease payment structures 
• 22:18 – Tenant improvement allowances and lease incentives 
• 26:10 – Accounting for variable lease payments during lease remeasurement 

For more information, see chapter 3 and chapter 5 of our Leases guide. In case you missed it – check out the other episodes in this podcast miniseries:  

• Lease accounting reset - Presentation and disclosure  
• Lease accounting reset – Modifications and terminations 

Be sure to follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to stay in the loop.

About our guests 

Marc Jerusalem is a managing 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.

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. 

About our guest host 

Guest host Diana Stoltzfus is a partner in the National Office who helps to shape PwC’s perspectives on regulatory matters, responses to rulemakings and policy development, and implementation related to significant new rules and regulations. Prior to rejoining PwC, Diana was the Deputy Chief Accountant in the Office of the Chief Accountant (OCA) at the SEC where she led the activities of the OCA’s Professional Practices Group.

Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to [email protected]

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

In this episode, we highlight the proposed amendments to IFRS S2, the climate-related disclosure standard from the International Sustainability Standards Board (ISSB). Learn how the changes aim to clarify greenhouse gas (GHG) reporting, specifically scope 3 emissions, and the potential implications they have on reporting.

In this episode, we discuss:

• 0:57 – Overview of IFRS S2, the role of the Transition Implementation Group, and what’s driving the amendments
• 3:52 – Clarifying the definition of scope 3 category 15 (investments) emissions
• 12:23 – Industry classification requirements for entities engaging in commercial banking and insurance-related activities
• 16:28 – How to apply jurisdictional relief for GHG measurement methodology
• 19:47 – Global warming potential (GWP) values and jurisdictional relief
• 22:55 – Next steps for the exposure draft and recommendations for reporters in the interim

Looking for the latest developments in sustainability reporting?

• Refer to our publication on the ISSB’s exposure draft proposing amendments to IFRS S2
• Read PwC’s Sustainability reporting guide
• Check out other episodes in our sustainability reporting podcast series

About our guest

Marcin Olewinski is a PwC Assurance practice partner with over 20 years of experience bringing valued perspectives and insights to large clients in the energy sector. Additionally, he’s focused extensively within the National Office on greenhouse gas emissions and sustainability reporting and leads PwC’s global technical working group focused on GHG.

About our host

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 [email protected]

Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

We continue our lease accounting miniseries with an episode focused on modifications and terminations. From determining whether a change results in a new lease to navigating remeasurement requirements, we share practical insights and key reminders for applying the guidance.

In this episode, we discuss:

• 1:12 – How to determine if a lease modification should be treated as a new lease or a remeasurement of the existing lease
• 10:31 – Key accounting steps in a lease modification and remeasurement
• 17:49 – Differentiating a lease termination from a modification
• 20:59 – Example of a lease modification for downsizing leased space
• 24:07 – Modifications to combined versus separate lease contracts

For more information, see chapter 5 of our Leases guide. You can also listen to the first episode in this series, Lease accounting reset - Presentation and disclosure. Be sure to follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to for the latest thought leadership.

About our guests

Marc Jerusalem is a managing 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.

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.

About our host

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 [email protected]

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

The European Commission’s Omnibus package continues to make its way through the legislative process. In this episode, we cover the most recent developments, including insights from recently leaked information and how businesses are reacting to potential changes. 

In this episode, we discuss:

• 2:53 – The legislative status of the content proposal and areas of debate
• 7:40 – Preparer feedback on the proposed changes in the content proposal
• 10:13 – Leak of Delegated Acts proposed to be deleted: Highlights and implications
• 14:46 – Changes to expect in the forthcoming ESRS drafts and timing of the comment period
• 17:10 – Themes in feedback shared with EFRAG
• 23:22 – Potential ESRS reliefs: materiality expansion, use of estimates, and grace periods for acquisitions

Get caught up on the EU Omnibus package:

• Sustainability now: EU Omnibus in motion – May 2025 update
• Sustainability now: Navigating "Omnibus" uncertainty
• European Commission publishes ‘Omnibus’ proposals

Looking for the latest developments in sustainability reporting?

• Read PwC’s Sustainability reporting guide
• Check out other episodes in our sustainability reporting podcast series

About our guest

Diana Stoltzfus is a partner in the National Office who helps to shape PwC’s perspectives on regulatory matters, responses to rulemakings and policy development, and implementation related to significant new rules and regulations. Prior to rejoining PwC, Diana was the Deputy Chief Accountant in the Office of the Chief Accountant (OCA) at the SEC where she led the activities of the OCA’s Professional Practices Group.

About our host

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 [email protected]

Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

We kick off our latest accounting miniseries on lease accounting with an episode on the related presentation and disclosure requirements. We break down key considerations across the balance sheet, income statement, and statement of cash flows, including what interim and annual disclosures are required as well as the treatment of lease incentives, sublease income, and more.

In this episode, we discuss:

• 2:12 – Current versus noncurrent lease liabilities
• 5:37 – Presentation of lease incentives
• 11:40 – Income statement presentation of lease expense
• 16:29 – Classification of lease payments in the statement of cash flows
• 26:25 – Annual and interim lease disclosure requirements

For more information, check out our Leases guide and the leasing chapter of the Financial statement presentation guide.

Be sure to follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to stay in the loop. 

About our guests

Marc Jerusalem is a PwC National Office managing director specializing in leasing. Marc consults with clients on complex lease accounting issues and is a frequent contributor to many related PwC National Office publications.

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.

About our host

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 [email protected]

Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

In this special episode, we explore whether top-performing finance functions have reached a “terminal value” in their cost-cutting journey – and what comes next. As technologies like AI and advanced analytics evolve, finance leaders are shifting focus from efficiency to insight – rethinking operating models, talent strategies, and what it means to create value in a digital era.

In this episode, we discuss:

• 1:18 – What “terminal value” means in finance and why top-performing functions may be approaching the limits of traditional cost-cutting
• 4:57 – How evolving finance operating models are incorporating new approaches to data, talent, and technology
• 9:07 – The rise of agentic AI and how autonomous agents are beginning to impact finance workflows
• 18:51 – Key leadership priorities for finance organizations navigating AI adoption and long-term transformation

For more insights, read our publication Have top performing finance functions reached terminal value in the age of AI?

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

Adam Kennedy is a PwC consumer markets finance leader focusing on business process improvement and finance effectiveness for Fortune 500 companies with an emphasis in retail, hospitality, and gaming. Adam provides consulting services on technology-driven finance transformation, end-to-end revenue stream management, merger integration support, financial analysis and reporting, risk management, and process improvement. 

Edward Ponagai is a PwC partner who leads large-scale back office transformations and merger integrations. He helps CFOs think through their organization’s big picture vision and purpose and drill down to address organizational challenges, operational processes, and technological innovations. 

About our guest host 

Guest host Diana Stoltzfus is a partner in the National Office who helps to shape PwC’s perspectives on regulatory matters, responses to rulemakings and policy development, and implementation related to significant new rules and regulations. Prior to rejoining PwC, Diana was the Deputy Chief Accountant in the Office of the Chief Accountant (OCA) at the SEC where she led the activities of the OCA’s Professional Practices Group.

Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to [email protected]

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.

As the SEC undergoes significant leadership changes, this episode offers a timely look at how recent developments are reshaping regulatory priorities. We offer insights into what these changes mean for companies and what they may expect going forward.

In this episode, we discuss: 

• 1:08 – The SEC’s leadership transition 
• 6:35 – Interpretive guidance activity and compliance updates 
• 14:53 – Crypto-related policy shifts 
• 18:40 – Chair Atkins’ rulemaking priorities and enforcement strategy 
• 26:28 – Executive compensation roundtable and potential disclosure reforms 
• 32:19 – Legal challenges and the uncertain path ahead for the SEC’s climate rule 
• 36:46 – Anticipated focus areas, including capital formation 
• 40:09 – Practical advice for companies engaging with the SEC under its new leadership 

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
• Inside SEC reporting: Pro forma financial information
• Inside SEC reporting: Form 8-K (current report)

Be sure to follow this podcast on your favorite podcast app and subscribe to our weekly newsletter for the latest thought leadership.

Our guests:

Elad Roisman, partner in the Corporate Governance and Board Advisory Practice and the Financial Institutions Group (FIG) Practice at Cravath, Swaine & Moore LLP.

Lindsay McCord, a PwC National Office partner specializing in matters related to the SEC and the capital markets.

Our guest host:

Kyle Moffatt, PwC’s Professional Practice leader.

Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to [email protected]

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