Think segment reporting is just about disclosure? Think again. In this episode we go back to the basics to discuss the broader impact it can have on your financial statements. Matt Sabatini joins Heather Horn to help navigate the guidance and answer our questions, including:

1:00 - Scope/overview of the model and why companies should care. Matt provides a brief background and takes us through the segment reporting model. 3:00 - Operating segments. The first step to segment reporting is to identify your operating segments. Matt explains how to identify an operating segment and the role of the chief operating decision maker. 12:12 - Aggregation and reportable segments. Not all operating segments need to be reported separately. Matt provides an overview of the aggregation criteria and how to determine your reportable segments.   19:42 - Disclosures. Matt provides an overview of the required disclosures for reportable segments. Spoiler alert― there’s a lot of them. 24:27 - Other considerations. Matt explains how the identification of segments impacts more than just disclosures and shares other insights.

About our guest

Matt Sabatini is a partner in PwC's National Office, where he helps clients and engagement teams navigate the accounting and financial reporting for complex transactions. He specializes in mergers, acquisitions, corporate reorganizations, recapitalizations, joint ventures and other investments. He is a frequent presenter at conferences and on webcasts on these topics.

About our host

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 over 25 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@pwc.com.

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Send us a Text Message. The concept of a circular economy emphasizes reducing, reusing, repairing, and recycling to minimize waste and maximize resource use in the context of a planet with finite resources. And as you’ll hear in this episode, circularity is increasingly becoming a business issue, both a challenge and opportunity, that interacts with multiple sustainability topics.

This week, Heather Horn is joined by Tom Beagent, a partner in PwC UK’s Global Sustainability and Climate Change practice, to discuss the circular economy, a sustainable alternative to the traditional linear economy model.

In this episode, we discuss:3:02 - The concept of a circular economy and its importance in the context of finite resources7:52 - The relationship between a circular economy, net zero emissions, and biodiversity9:07 - The scale of change required, and the steps involved to transition to a circular economy13:18 - Examples of industries and products that would benefit the most from transitioning to a circular economy 19:18 - Consumer practices that fit within a circular economy24:21 - Why regulators are stepping in to mandate change26:40 - The business opportunities that arise from solving problems related to waste and resource use28:34 - The challenge of changing consumer behavior and perceptions of abundance31:58 - Reporting under the EU's ESRS E5 standard and insights from the related dataLooking for the latest developments in sustainability reporting? Follow this podcast on your favorite podcast app and subscribe to our weekly newsletter for the latest thought leadership on sustainability standards.

Tom Beagent is a partner in PwC UK’s Global Sustainability and Climate Change practice, specializing in integrating natural and social capital analysis into decision making for sustainable growth. With over 20 years’ experience delivering sustainable business projects, he also co-developed PwC’s Total Impact Measurement and Management methodologies (TIMM), which allows organizations to measure and value the social, environmental, economic, and fiscal impacts resulting from their operations, as well as their extended value chains.

Heather Horn is the PwC National Office Sustainability & 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 us_podcast@pwc.com.

Talking ESG: The challenge – and promise – of a circular economy

Send us a Text Message. We kick off our miniseries on accounting for financing transactions with a focus on share repurchases. We provide an overview of the different methods and reasons companies may repurchase their own shares as well as the accounting implications. Spoiler alert – the type of arrangement really matters as it dictates the accounting.

In this episode, we discuss:3:38 – An overview of the different methods and reasons companies repurchase shares11:43 – Accounting implications depending on the method of repurchase:11:55 – Spot repurchases15:07 – 10B5-1 plans16:26 – Forward repurchases18:56 – Prepaid repurchases20:30 – Tender offers24:08 – Accelerated share repurchases30:40 – Accounting for treasury stockFor more information on these topics, read chapter 9 of our Financing transactions guide. Additionally, follow this podcast on your favorite podcast app for more episodes.

John Horan is a managing director in PwC’s National Office where he assists clients with complex accounting issues in the areas of foreign currency, liabilities and equity, earnings per share, and derivatives and hedging. John specializes in large capital transactions and initial public offerings.

Heather Horn is the PwC National Office Sustainability & 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 us_podcast@pwc.com. 

Share repurchases – The type of arrangement matters

Send us a Text Message. While the SEC has stayed its climate disclosure rule for now, our team is still fielding many questions as preparers work toward complying with global sustainability reporting regulations. In this episode, host Heather Horn sits down with PwC National Office partners Kevin Vaughn, Diana Stoltzfus, and Valerie Wieman to break down some frequently asked questions on the SEC climate-related disclosures rules. 

In this episode, we discuss:2:05 - The implications of the SEC staying the new climate disclosure rules, and how the rules fit into an environment with multiple reporting frameworks5:17 - The continued applicability of previously issued interpretive guidance on climate-related disclosures7:05 - The scope of the SEC’s new climate disclosure rules10:11 - Impacts of the disclosure rules to management certifications and internal controls11:20 - Frequently asked questions from SEC filers about:11:25 - Scenario analysis13:53 - Materiality15:31 - Targets and goals21:10 - Renewable energy certificates and carbon offsets23:51 - Financial statement impacts30:26 - Severe weather events and other natural conditions33:56 - Advice and action steps for preparersLooking for the latest developments in sustainability reporting? Follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to for the latest thought leadership on sustainability standards. Also, refer to the SEC staff’s Dear Issuer Letter for sample comments on a company’s climate-related disclosures.

Kevin Vaughn is a partner in PwC’s National Office. Prior to joining PwC, Kevin was senior associate chief accountant in the Office of the Chief Accountant (OCA) at the SEC where he spent almost 20 years focusing on complex financial reporting and technical accounting issues.

Valerie Wieman is a PwC National Office partner with over 30 years of experience. She helps lead the creation, development, and publication of our brand-defining thought leadership, with a focus on domestic and international sustainability requirements.

Diana Stoltzfus is a partner in the National Office. Diana 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 Professional Practices Group within the OCA.

Heather Horn is the PwC National Office Sustainability & 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 us_podcast@pwc.com. 

Talking ESG: FAQs on the SEC climate disclosure rules

Send us a Text Message. This episode provides an overview of new FASB income tax guidance requiring disaggregated information about a reporting entity’s effective tax rate reconciliation as well as income taxes paid. The FASB’s updates are intended to benefit investors by providing more detailed income tax disclosures that may be useful in making capital allocation decisions.

In this episode, we discuss:0:20 - Background on and an overview of the new guidance6:50 - Disaggregated rate reconciliation disclosures 26:16 - Disaggregated income taxes paid disclosures33:15 - Other changes to existing income tax disclosures35:18 - Effective dates and transitionFor more information, read our publication, FASB issues guidance on income tax disclosures. Additionally, follow this podcast on your favorite podcast app for more episodes.

Jennifer Spang is the PwC National Office income tax accounting leader, specializing in tax accounting under US GAAP and IFRS. She has over 30 years of experience helping companies in a variety of industries navigate complex tax accounting matters.

Heather Horn is the PwC National Office Sustainability & 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 us_podcast@pwc.com. 

New income tax disclosure requirements – getting ready

Send us a Text Message. Companies subject to multiple sustainability reporting regulations are sorting through how best to meet each framework’s requirements in an effective and efficient manner. In this episode, host Heather Horn sits down with Valerie Wieman, PwC National Office Partner, to discuss the concepts of interoperability and equivalence across global sustainability reporting frameworks as well as the importance of a data-driven assessment.

In this episode, we discuss:2:31 - Defining the concepts of interoperability and equivalence3:29 - What a “data first” approach means when it comes to preparing for compliance4:51 - Overview of interoperability and equivalence in the major frameworks14:00 - Timing considerations across frameworks19:18 - Differences in scope and materiality among frameworks24:59 - Attestation and assurance requirements across frameworks31:29 - Getting started on compliance and how best to leverage interoperability opportunitiesLooking for the latest developments in sustainability reporting? Follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to stay in the loop for the latest thought leadership on sustainability standards.

Valerie Wieman is a PwC National Office partner with over 30 years of experience. She helps lead the creation, development, and publication of our brand-defining thought leadership, with a focus on domestic and international sustainability requirements.

Heather Horn is the PwC National Office Sustainability & 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 us_podcast@pwc.com. 

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