PwC's accounting podcast

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PwC's accounting podcast episodes

March 12, 2019Assessing collectibility under ASC 606: 5 things you need to know
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.
0:52 – The collectibility model: credit risk v price concession
3:30 – The implications of the new credit risk model
6:53 – Judgment points in the model/when to reassess
9:30 – Factors to consider and document in the assessment
12:02 – Other considerations
Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to [email protected].
17 min
February 22, 2019 Sustainability reporting: 5 things you need to know
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.

15 min
February 12, 2019 Hedge accounting: 5 things to know when implementing the new standard
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.
Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to [email protected].
19 min
January 29, 2019 Brexit: 5 things you need to know about the accounting considerations
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.
20 min
January 14, 2019 5 things you need to know about the SEC's agenda
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.
21 min
December 17, 2018 2018 SEC comment letter trends
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.
17 min
December 05, 2018 The quarter close - Q4 2018 edition
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.
39 min
December 04, 2018 Revenue comment letter observations
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.
19 min
November 19, 2018 Leasing — Reminders as you prepare for adoption
Getting ready to adopt the new leasing standard? PwC leasing specialists discuss overall readiness, new standard setting on transition elections and practical expedients, implementation challenges and best practices.

The new leases standard will impact companies across all industries, and the effective date is quickly approaching. The new standard will impact both lessees and lessors.
Based on an October 2018 survey, companies span the spectrum in terms of readiness, with about 76% of companies more than halfway done with their implementation. About 25% of respondents indicated they had concerns with their ability to “go-live” with system changes for a variety of reasons
Recent standard setting have added transition options to ease the transition to the new leases standard. We expect many companies will elect the option to not restate prior periods. In general, electing this transition method (i.e., to not restate prior periods), will not impact which other practical expedients a company may elect (e.g., the package of practical expedients).
We also discuss the package of practical expedients, including reminders about what rate a lessee should use to discount its lease payments in calculating its lease liability. As the effective date approaches, companies also need to remember the need to consider the status and effectiveness of controls around both manual and automated processes.

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

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Listen in as PwC specialists discuss today’s most compelling accounting, reporting, and business issues. Whether financial reporting or sustainability reporting, each episode is packed with…