Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.In the fourth episode of our miniseries on the building blocks of greenhouse gas (GHG) emissions reporting, we discuss step 4: measure greenhouse gas emissions, starting with scope 1 emissions. Host Heather Horn and frequent ESG podcast guest Marcin Olewinski, an Assurance partner, are joined by Chris Ostermann, a director in PwC’s Sustainability Services Group, to kick off the first of three episodes fo...

Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.In this next episode of our 2024 SEC comment letter miniseries, we discuss accounting for revenue. Revenue is the top line for a reason; it’s closely watched by investors and therefore, the SEC staff as well. From variable consideration to disaggregated revenue disclosure, we discuss the issues most frequently raised by the SEC staff and offer advice to preparers for getting ahead of them.In this episode...

Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.In the third episode of our miniseries on the building blocks of greenhouse gas (GHG) emissions reporting, we discuss step 3: determine operational boundaries. Host Heather Horn is joined again by Marcin Olewinski, an Assurance partner, and Kelsey Pizza, a senior manager in PwC’s National Office, who illustrate the importance of correctly identifying operational boundaries and the impact on the accuracy ...

Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.We are kicking off our miniseries on 2024 SEC staff comment letters, helping to inform you on the latest trends as you gear up for year end. In this episode we share an overview of the 2024 comment letter trends, as well as insights into the SEC staff’s key priorities.In this episode, we discuss:1:56 – An overview of the SEC comment letter process14:19 – 2024 SEC comment letter themes15:31 – Key SEC staf...

Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.This week, host Heather Horn is joined by a chief sustainability officer (CSO), whose impressive background in paleoclimate geology has propelled her into the world of sustainability. Allyson Anderson Book from Baker Hughes provides a practical perspective on her sustainability journey as a CSO. She shares the challenges overcome and perseverance needed in getting to the accomplishments – decarbonization...

Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.We wrap up our miniseries on loans and investments with a discussion of the accounting for equity interests, a topic that can impact companies across all industries.In this episode, we discuss:2:02 – Equity interests in scope of ASC 321, Investments—Equity Securities13:19 – Determining whether an equity interest has a readily determinable fair value15:10 – An overview of the “measurement alternative,” in...

Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.At the intersection of two trending topics, AI and sustainability, there are a myriad of both costs and benefits to consider. Host Heather Horn is joined by Scott Likens, PwC Global Chief AI Engineer, to discuss the environmental impact of AI and the balance between AI's benefits and its environmental footprint.In this episode, they discuss:3:17 – How AI is impacting sustainability8:54 – Why AI and susta...

Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.We continue our miniseries on loans and investments with a discussion of the current expected credit losses (CECL) impairment model, applicable to a broad range of financial assets. In this episode, we discuss:3:42 – A refresher on the CECL model8:02 – Impact of the current economic environment on credit losses23:43 – Monitoring and governance of credit losses26:46 – SEC comment letters and other ac...

Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.The term “ESG” has been used for over two decades, including in this podcast miniseries title. Host Heather Horn sat down with guest Matt Sekol, Sustainability Global Blackbeltand author of ESG Mindset: Business Resilience and Sustainable Growth, to revisit the complexities of ESG and how companies can rethink the concept to not only build better resilience for the long term, but also find value in repor...

Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.We continue our miniseries on loans and investments with a discussion of the accounting by corporate entities for loan receivables, which can include items such as trade receivables and other receivables with customers, suppliers, employees and more.In this episode, we discuss:1:43 – The definition of a loan and types of loan arrangements3:18 – Recognition and measurement of loans7:40 – Classification an...

Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.Impact accounting is the process of attributing monetary value to disparate pools of datapoints across sustainability topics with the intent of creating comparability to drive investment decisions. This week, host Heather Horn is joined by a special guest from the International Foundations of Valuing Impacts (IFVI), CEO and President, Rob Zochowski, to discuss the relatively new concept of impact account...

Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.We kick off our miniseries on loans and investments with an episode on accounting for debt securities for corporate entities. We discuss key considerations applicable to corporates and share insights on some of the more complex areas.In this episode, we discuss:5:31 – Identifying the applicable accounting guidance13:24 – Instruments that qualify as cash equivalents 22:07 – Classification of debt se...

Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.Host Heather Horn is joined by Mardi McBrien, Chief of Strategic Affairs & Capacity Building at the IFRS Foundation, and Katharina Bryan, Head of International Sustainability Reporting Policy at Amazon, to highlight the PwC and IFRS Foundation NYC Climate Week event: Sustainability disclosure in practice. Together they break down the event and share highlights, practical perspectives, and takeaways f...

Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.With an unprecedented level of change in recent years, the PCAOB has become a standard setter to watch – not just for audit firms but for companies. The episode brings the latest in PCAOB standard setting developments, including what they mean for preparers. Our guest is Brian Croteau, PwC’s US Chief Auditor, who leads our team that follows all things PCAOB.In this episode, we discuss:3:35 – The current ...

Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.In the second episode of our miniseries on the building blocks of greenhouse gas (GHG) emissions reporting, we discuss how to establish organizational boundaries. Host Heather Horn is joined again by Marcin Olewinski, an Assurance partner, and Kelsey Pizza, a senior manager in PwC’s National Office, who illustrate the importance of including the correct entities, assets, and operations through real world...

Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.PwC provides a summary of the latest accounting, financial reporting, and regulatory updates to support your quarterly reporting.The adoption of the new segment reporting guidance is just around the corner for many public companies. As we approach year end, we begin this edition of The quarter close by providing timely reminders for those preparing to adopt that guidance. We also take a closer look at an...

Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.We continue our miniseries on foreign currency accounting with an episode on foreign currency remeasurement and translation. Foreign currency measurement is the process by which an entity expresses transactions whose terms are denominated in a foreign currency in its functional currency. Foreign currency translation is the process of expressing a foreign entity’s functional currency financial s...

Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.This week we introduce a miniseries on the building blocks of greenhouse gas (GHG) emissions reporting. To kick off the miniseries, host Heather Horn is joined by Marcin Olewinski, an Assurance partner, and Kelsey Pizza, a senior manager in PwC’s National Office, to give an overview of the process and zero in on the first step, understanding reporting requirements. They highlight the GHG Protocol's found...

Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.We kick off our miniseries on foreign currency accounting with an episode on determining functional currency, which is the currency of the primary economic environment in which a distinct and separable operation operates.In this episode, we discuss:03:52 – Identifying distinct and separable operations19:01 – Determining functional currency25:45 – Common pitfalls in evaluating functional currency 37:...

Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.We continue our miniseries on stock-based compensation awards with a focus on 5 important things for private companies to know. This is an area for which the accounting tends to be more complicated for nonpublic companies. In this episode, we discuss:3:12 – Measurement of liability-classified awards5:59 – Secondary market transactions16:39 – Profit sharing arrangements22:44 – Equity restructurings31...

Text us your thoughts on this episodeWe kick off our miniseries on stock-based compensation with a focus on 5 important things to know when accounting for modifications to stock-based compensation awards.In this episode, we discuss:2:40 – How to determine whether a change in terms or conditions should be accounted for as a modification5:00 – The stock-based compensation modification framework8:29 – Four types of modifications related to vesting conditions18:39 – Modifications that change clas...

Text us your thoughts on this episodeWe continue our miniseries on software costs. They are accounted for using two different models depending on whether the software is used internally or externally. In this episode, we discuss the internal-use model applicable to software developed or obtained to meet the reporting entities’ internal needs.In this episode, we discuss:3:24 – The scope of internal-use software10:29 – The three stages of software development14:07 – Cloud computing arrangements...

Text us your thoughts on this episodeWe kick off our miniseries on software costs. They are accounted for using two different models depending on whether the software is used internally or externally. In this episode we focus on the external use model applicable to software to be sold, leased, or otherwise marketed as a separate product or embedded within a product or process.In this episode, we discuss:3:20 – How to determine whether the internal use or externally-marketed software models ap...

Text us your thoughts on this episodeNamed the year of global elections, 2024 will see more than 50 countries with over half of the world’s population exercise their right to vote. On today’s episode, host Heather Horn reunites with Craig Stronberg from PwC Intelligence to discuss the depth of the 2024 elections – not just in the US but worldwide – and the downstream impacts they could have, including what companies need to consider when making business decisions. Hear what Craig has to say c...