PwC's accounting podcast

Our Full disclosure podcast series brings you back to the basics on all things related to financial statement presentation and disclosure, from the top of the financial statements through the footnotes. 

This week we focus on the presentation and disclosure requirements for stock-based compensation awards. Jay Seliber and Ken Stoler from our National Office are joining us to share helpful insights with our host, Heather Horn. 

Topics include:

• 1:21 - Balance sheet. Jay opens with balance sheet presentation and classification matters for stock-based compensation awards.
• 5:02 - Income statement. Jay explains the income statement presentation requirements for stock-based compensation expense and the related SEC comment letter trends.
• 8:22 - Statement of cash flows. Ken walks through the impact of stock-based compensation awards on the statement of cash flows.
• 14:31 - Statement of stockholders’ equity. Ken highlights the areas affected by stock-based compensation awards in the statement of stockholders’ equity. 
• 16:29 - Disclosures. Jay and Ken discuss the required disclosures and best practices. 
• 27:52 - Key takeaways. Heather, Jay, and Ken close with some final remarks.

Want to learn more? Read our Financial statement presentation and Stock-based compensation guides. And listen to our podcast, Stock-based compensation issues in an IPO and SPAC, explained.

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. Jay is presently PwC's representative to the FASB's Emerging Issues Task Force.

Ken Stoler is a partner in PwC’s National Office with over 15 years of experience. He helps companies to address one of their most fundamental concerns, how they should compensate our employees and executives. Helping companies navigate their employee issues during an IPO, spin off, acquisition, or other major transaction or event, Ken specializes in financial reporting and plan design issues related to equity compensation arrangements, retirement and healthcare plans, and other benefits. 

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, as well as periodic webcasts for the power and utilities industry. With nearly 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 [email protected].

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

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

In our Forecast 2021 podcast series, we’re focused on offering insights to help you better understand and manage some of the opportunities and challenges that your company might face—think policy, technology, and other big picture topics. 

This week we focus on recruiting and retaining talent in today’s world. Rod Adams, PwC’s Talent Acquisition and Onboarding leader, sat down with host Heather Horn to discuss the current market and how companies will need to be agile as time goes on in order to attract and retain the best talent.

Topics include:

• 1:10 - Recruiting today. Rod discusses what’s different when recruiting in the current environment and how organizations can respond to the evolving landscape. 
• 8:39 - Be authentic. Rod explains how to effectively recruit and retain talent while remaining true to your organization’s working model—whether fully remote, fully in person or a hybrid. 
• 19:43 - Diversity & inclusion. Companies want a diverse and inclusive environment. This requires ongoing focus during talent attraction and acquisition through retention and development. Rod discusses how diversity and inclusion efforts can help companies tap into key sources of competitive talent.
• 28:45 - Well being. Rod and Heather discuss how to showcase your organization’s well-being initiatives and how to align them with trends in the workforce. 
• 35:20 - Looking to the future. Rod shares where he sees the conversation on talent acquisition is headed in the next few years.

Want to learn more? Read insights from PwC Workforce Transformation: The new virtual reality of recruiting, and Rod’s July 12, 2021 article published on Fortune.com, Building a diverse workforce starts with mentorship and sponsorship.

Rod Adams is PwC’s Talent Acquisition and Onboarding leader across Mexico and the US, with a focus on talent management, workforce planning, organizational design, talent acquisition, performance management, employee relations, digital upskilling, and employment branding. He is passionate about building a diverse and inclusive workforce and leveraging digital tools and disruptive strategies to create authentic, long-lasting relationships with key talent.

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, as well as periodic webcasts for the power and utilities industry. With nearly 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 [email protected].

Our Full disclosure podcast series brings you back to the basics on all things related to financial statement presentation and disclosure, from the top of the financial statements through the footnotes. 

This week we focus on the presentation and disclosure requirements for debt including term debt, revolving debt, and structured payables. Chip Currie and Suzanne Stephani from our National Office are back in the guest seats to discuss key reminders with our host, Heather Horn. 

Topics include:

• 1:24 - Balance sheet. Chip and Suzanne highlight balance sheet classification matters for refinancings, repayments, covenant violations, issuance costs, and more.  
• 12:58 - Income statement. Chip explains the income statement impacts of gains and losses on debt extinguishment and common acceptable approaches to classification.
• 14:18 - Statement of cash flows. Suzanne reminds listeners how to present debt activity in the statement of cash flows—from debt borrowings and repayments, to extinguishments and modifications. 
• 17:09 - Disclosures. Chip highlights the key required disclosures for debt that investors are focused on. 
• 24:19 - Structured payables. Chip explains structured payables and the related disclosure requirements. 
• 22:33 - Key takeaways. Chip and Suzanne close with some final reminders.

Want to learn more? Read Chapter 12: Debt and Section 11.3.1.5: Structured payables of our Financial statement presentation guide, and listen to our podcast, Debt classification: Back to the basics with 5 things you need to know.

Chip Currie is a partner in PwC’s National Office with over 20 years of experience assisting companies in resolving complex business and accounting issues. He concentrates on the accounting for financial instruments under both current and emerging standards and works with many of the firm's largest financial services clients and a number of non-financial service clients on treasury-related matters.

Suzanne Stephani is a director in PwC’s National Office specializing in the application and interpretation of the accounting guidance related to financing transactions.

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, as well as periodic webcasts for the power and utilities industry. With nearly 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 [email protected].

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

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

In our Forecast 2021 podcast series, we’re focused on offering insights to help you better understand and manage some of the opportunities and challenges that your company might face—think policy, technology, and other big picture topics. 

This week we discuss how organizational culture is at the forefront of leadership agendas across the globe. Christopher Hannegan, a principal in PwC’s Organization and Workforce Transformation group, and Gus Giacoman, a partner in PwC’s Strategy&, sat down with host Heather Horn to provide practical advice for CFOs on the benefits of understanding and managing their organizational cultures.

Topics include:

• 1:12 - Setting the stage. Christopher and Gus open with a discussion on how organizational culture has adapted to becoming more innovative, nimble, and agile. They highlight the observable gaps in the cultural views of executives and their employees.
• 13:30 - Defining “culture.” Our guests define four pillars that comprise culture - thinking, feeling, believing, and behaving. Behaviors change organizations and evolve cultures; defining those behaviors can increase innovation and agility. 
• 18:05 - 2021 Global culture survey findings. PwC surveyed over 3,200 people in over 50 countries - Christopher and Gus discuss the impact of the pandemic on culture and performance.
• 24:14 - Influence within. Our guests encourage leaders to think of how they want to evolve their businesses, and suggest empowering their people to speak up.
• 28:38 - Advantages of a strong culture. Culture proved it could be a source of competitive advantage during the pandemic. But can you change the culture you have? Christopher and Gus discuss how to shape your culture to realize your business strategy.  
• 38:52 - Inclusion. Be vulnerable as a leader and have empathy. Christopher explains the power in knowing your people.
• 43:56 - Key takeaways. Christopher and Gus share their advice for leaders.

Want to learn more? Read our Global culture survey report 2021 and listen to our Podcast Forecast 2021: How to make hybrid work, work.

Christopher Hannegan, is a principal in PwC’s Organization and Workforce Transformation group, focusing on helping C-suite leaders execute business strategy, accomplish transformational change, and shift cultures to be higher performing.

Gus Giacoman, is a partner in PwC’s Strategy& specializing in business transformation for profitable growth. He helps clients restructure their organizations and cost structure so they put their money where their strategy is.

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, as well as periodic webcasts for the power and utilities industry. With nearly 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@

Our Full disclosure podcast series brings you back to the basics on all things related to financial statement presentation and disclosure, from the top of the financial statements through the footnotes. 

This week we focus on the presentation and disclosure requirements for other assets—specifically property, plant and equipment, inventory, intangible assets, goodwill, and capitalized software. Mike Coleman and Matt Sabatini, PwC National Office partners, are back in the guest seats to share some helpful insights with our host, Heather Horn.

Topics include:

• 1:29 - Property, plant and equipment (PPE). Matt explains the presentation and disclosure requirements for PPE and highlights key areas of focus for analysts.
• 8:29 - Inventory. Mike highlights the SEC’s and FASB’s presentation and disclosure rules, including where they differ depending on the costing method applied.
• 15:37 - Intangible assets and goodwill. Matt and Mike take us through the presentation and disclosure requirements for intangibles and goodwill, whether acquired through a business combination or an asset acquisition, and the related impairment assessments.
• 22:56 - Capitalized software. Mike breaks down the disclosure rules for capitalized software for both the sellers and buyers of internal and external use software.
• 27:41 - Standard setting. Matt and Mike update listeners on the FASB’s projects on goodwill, intangibles, and inventory disclosures.
• 30:17 - Key takeaways. Matt and Mike close with some final reminders.

Want to learn more? Read:

• Chapter 8: Other assets of our Financial statement presentation guide
• Sections 5.2.7.4 Presentation and disclosure–held and used impairment and 5.3.8 Presentation and disclosure (held for sale) of our PP&E and other assets guide

And listen to our podcasts:

• Accounting for cloud computing costs: 5 things you need to know
• Buying or developing new software? Know which guidance to use

Mike Coleman is a partner in PwC's National Office with over 30 years of experience specializing in accounting for revenue and software arrangements. In addition, Mike has been one of the firm's representatives on the AICPA Software Task Force. Prior to his time in National, Mike was an audit partner in the firm's NY Metro assurance practice serving technology clients.

Matt Sabatini is a partner in PwC's National Office with nearly 20 years of experience helping clients and engagement teams navigate the accounting and financial reporting for complex transactions. He specializes in the accounting for M&A, corporate reorganizations, recapitalizations, joint ventures, and other investments.

Transcripts available upon request fo

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

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

In our Forecast 2021 podcast series, we’re focused on offering insights to help you better understand and manage some of the opportunities and challenges that your company might face—think policy, technology, and other big picture topics. 

This week we discuss data storytelling and how this skill is vital to your company’s transformation journey. Heather Horn sat down with Scott Peck, PwC’s Data and Analytics leader, to discuss how and why CFOs of the future are looking to data storytellers to unearth the meaning behind data.

Topics include:

• 0:58 - Data storytelling. Scott explains what it means to tell a story with data and how CFOs can apply a new lens to data.
• 7:35 - Analyst of the future. A useful data story starts with building a successful supporting team with key skill sets, resulting in impactful insights for your business leaders. Scott encourages CFOs to look out for “business interpreters” who can connect the dots in the data and analytics transformation journey. 
• 14:31 - Voice of the customer. We discuss how to understand the needs of the users of your data and how to build a narrative from data visualizations. 
• 18:35 - Shifting from dashboards. Scott explains why dashboards are not enough anymore; timely narratives provide greater value than standing reports.
• 22:23 - General benefits. Consistency, centralization, and cohesiveness - Scott tells us why these are critical.
• 28:30 - Looking to the future. Scott highlights where he sees the data visualization journey going and how these data narrative models may evolve over time. 

Want to learn more? Listen to our Podcast: What’s next in tech for finance? Data-driven decision making

Scott Peck is PwC’s Data and Analytics leader, with over 20 years of experience in business and system analytics. His focus is on building value through analytics and innovation, and modernizing the role of a data analyst to create real-time actionable insights. 

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, as well as periodic webcasts for the power and utilities industry. With nearly 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 [email protected].

Our Full disclosure podcast series brings you back to the basics on all things related to financial statement presentation and disclosure, from the top of the financial statements through the footnotes. 

This week we focus on investments, specifically debt securities and equity instruments, as well as the related presentation and disclosure matters. Our host, Heather Horn, sat down with PwC National Office partners, Chip Currie and Bret Dooley, to share some helpful insights. 

Topics include:

• 1:29 - Reminders on the accounting model. Bret and Chip open with recognition and measurement reminders for equity instruments and debt securities.
• 6:12 - Balance sheet. Bret explains the balance sheet presentation and classification matters for these types of investments. 
• 9:31 - Income statement. Chip highlights the income statement considerations. 
• 13:28 - Disclosures. Chip and Bret explain the key disclosures specific to equity instruments and debt securities. They also remind companies to disclose specific portfolio information. 
• 19:47 - Other important disclosures. Our guests describe other required disclosures for available-for-sale securities, held-to-maturity securities, credit risk, and MD&A.
• 32:22 - Takeaways. Chip and Bret close with some final reminders. 

Want to learn more? Read:

• Chapter 9: Investments—debt and equity securities of our Financial statement presentation guide
• Chapter 12: Presentation and disclosure of our Loans and investments guide

Chip Currie is a Partner in PwC’s National Office with over 20 years of experience assisting companies in resolving complex business and accounting issues. He concentrates on the accounting for financial instruments under both current and emerging standards and works with many of the firm's largest financial services clients and a number of non-financial service clients on treasury-related matters.

Bret Dooley  is a Partner in PwC’s National Office, focusing on emerging financial reporting issues related to financial instruments and assisting clients in resolving complex accounting matters. He brings more than 25 years of experience in both public accounting and industry, including leadership roles in accounting policy, financial reporting and controllership teams at global financial institutions.

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, as well as periodic webcasts for the power and utilities industry. With nearly 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 [email protected].

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

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

In our Forecast 2021 podcast series, we’re focused on offering insights to help you better understand and manage some of the opportunities and challenges that your company might face—think policy, technology, and other big picture topics. 

This week we discuss returning to the office and the impact of new workforce models on real estate needs and strategies. Heather Horn sat down with Byron Carlock, PwC’s US Real Estate Practice leader, to discuss how companies are reexamining their real estate footprint.

Topics include:

• 1:03 - A focus on safety. Safety is still top of mind for companies as they redesign their real estate workprint - Byron explains.  
• 9:21 - The real estate industry. Byron provides insights on the changing real estate industry and the varying trends by market. 
• 22:02 - Infrastructure needs. Changing your real estate footprint may call for a major readjustment of infrastructure needs - we discuss best practices. 
• 27:16 - Investments and trends. Byron explains how companies are applying health and safety protocols from the healthcare and hospitality industries to their facilities and office spaces. He also shares what he thinks will influence real estate investments in the next few years. 

Want to learn more? Listen to our Forecast 2021: How to make hybrid work, work

Byron Carlock, PwC’s US Real Estate Practice leader, brings years of knowledge of and exposure to the various aspects of the real estate life cycle, including the capital markets, acquisitions, M&A, development, dispositions, and capital structuring. 

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, as well as periodic webcasts for the power and utilities industry. With nearly 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 [email protected].

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

Our Full disclosure podcast series brings you back to the basics on all things related to financial statement presentation and disclosure, from the top of the financial statements through the footnotes.

In this week’s edition of our ongoing series focused on the financial statements, we look at income taxes, including balance sheet and income statement presentation, key disclosures, and related SEC comment letter trends. Kassie Bauman, a managing director in our National Office who specializes in income tax accounting, is back in the guest seat to share helpful insights with our host, Heather Horn.

Topics include:

• 1:20 - Balance sheet presentation. Kassie dives into the different income tax-related line items on the balance sheet.
• 6:17 - DTAs, DTLs, and valuation allowances. Kassie explains the required disclosures related to deferred tax assets, deferred tax liabilities, and valuation allowances, and she highlights the SEC comment letter trends in these areas.
• 14:35 - Other balance sheet disclosures. Kassie shares some final reminders on balance sheet disclosures, including the requirement to disclose unrecognized DTLs.
• 17:19 - Income statement presentation and disclosure. Next we break down the presentation and disclosure requirements for the income statement, including income tax expense and the effective tax rate, and we discuss related SEC comment letter trends.
• 26:02 - Other key disclosures. Kassie highlights other disclosures to pay attention to, including investment tax credits, tax holidays, and significant income tax risks and uncertainties.
• 28:46 - Standard setting. Kassie updates listeners on the FASB’s project on income tax disclosures.

Want to learn more? Read:

• Chapter 16: Income taxes of our Financial statement presentation guide

Listen to our podcasts:

• Uncertain tax positions: The basics
• Valuation allowance for deferred tax assets – the basics
• Accounting for outside tax basis differences

And watch our video:

• Income taxes: Uncertain tax positions, disclosures

Kassie Bauman is a managing director in PwC's National Office who consults on tax accounting under US GAAP and IFRS. Kassie has more than 20 years of auditing and accounting experience, including almost a decade of experience addressing complex technical accounting matters as part of our National Office.

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, as well as periodic webcasts for the power and utilities industry. With nearly 30 years of experience, Heather’s accounting and auditing expertise includes financial instruments and rate-regulated accounting.

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In our Forecast 2021 podcast series, we’re focused on offering insights to help you better understand and manage some of the opportunities and challenges that your company might face—think policy, technology, and other big picture topics. 

In this week’s episode, we highlight the “Green Book,” which is the Treasury’s explanation of the tax proposals in the proposed FY2022 Federal budget. We focus on the proposals that will have a significant impact on corporate income tax policies. Heather Horn sat down with Jenn Spang, PwC’s National Office income tax accounting leader, and Pat Brown, co-leader of PwC’s Washington National Tax Services group, to discuss the big changes on the horizon. Tax leaders are already scenario planning - we break it down so CFOs can do the same.

Topics include:

• 1:03 - “Green Book.” The Treasury Department released the annual tax budget, or the “Green Book,” last month. Pat and Jenn highlight the significant corporate tax proposals and their financial statement impacts.
• 11:07 - GILTI. Pat digs deeper and explains the proposed changes to the global intangible low-taxed income (GILTI) tax policy. Jenn tells us the accounting ramifications.
• 18:30 - BEAT and SHIELD. The Biden administration has proposed to replace the base erosion and anti-abuse tax (BEAT) with a new provision called stopping harmful inversions and ending low-tax developments (SHIELD). Pat and Jenn explain what this all means.
• 23:37 - FDII. Pat fills us in on the proposal to repeal the deduction for foreign derived intangible income (FDII) tax, and the plan to use the resulting revenue to expand research and development investment incentives. 
• 26:08 - The OECD framework. We discuss the proposed global minimum tax as part of the Organisation for Economic Co-operation and Development (OECD) framework and what it means for multinationals and international tax. 
• 34:39 - Other key proposals. Pat highlights a number of other proposals affecting corporate income taxes, and Jenn provides takeaways from a financial statement perspective. The key is scenario planning - be prepared. 
• 37:24 - What’s next? It’s up to Congress now. Pat and Jenn expect the increase in corporate taxes to be enacted by the end of 2021, with changes to international tax law having a longer runway.

Pat Brown is PwC’s Washington National Tax Services co-leader. Prior to joining PwC, he spent 16 years in the private sector, including a role 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.

Jennifer Spang is PwC’s National Office income tax accounting leader specializing in tax accounting under US GAAP and IFRS. She has over 25 years of experience helping companies in a variety of industries navigate complex tax accounting matters.

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, as well as periodic webcasts for the power and utilities industry. With nearly 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 acc