With the world in a state of constant change, companies need to maintain their focus as the second quarter of 2020 comes to a close. PwC partners Heather Horn and Cody Smith highlight what companies should think about for their June 30 reporting.

Topics include:

• 1:04 - FASB standard setting update. We begin with an overview of the FASB staff Q&As addressing specific accounting challenges related to COVID-19 and then discuss the delay of effective dates of the revenue and leases standards.
• 8:04 - SEC update. Cody discusses the amendments to SEC Rule 3-05 disclosures and highlights the changes to the preparation of pro forma information. 
• 16:06 - Other quarter-end considerations. We close our discussion by offering some perspectives on impairments and MD&A disclosures.

Cody Smith is a partner in PwC’s National office with over 20 years experience who specializes in the accounting for business combinations and related areas, such as consolidations, disposals, impairments, and segment reporting. 

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 [email protected].