Pwc's Cfodirect Podcast

Informações:

Synopsis

PwC professionals share perspectives on today's key regulatory, accounting and financial developments. Providing insight using plain English to help you stay current in a rapidly changing business world.

Episodes

  • Tax policy: What’s on the table in Washington?

    14/10/2021 Duration: 48min

    In this week’s episode we are taking a deep dive into current legislative developments, specifically the tax-related changes that may be on the horizon. Rohit Kumar, co-leader of PwC’s Washington National Tax Services practice, joins host Heather Horn to provide his perspective on anticipated developments. Tax leaders are already scenario planning - we break it down so CFOs can do the same.Topics include:2:12 - What’s the lay of the land? Rohit takes us through where things currently stand with negotiations in Washington. Heather and Rohit discuss the infrastructure and reconciliation bills as well as the likelihood of these bills getting signed into law before the end of the year.9:53 - Possible scenarios. Rohit provides a few potential legislative outcomes, touching on the gross spending side of the budget equation as well as revenue raising, such as through changes to the corporate and individual tax rates and credits, among other domestic and international policy alternatives.34:13 - Where should CFOs foc

  • Full disclosure: Segments

    12/10/2021 Duration: 39min

    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 segments. Jay Seliber, PwC National Office partner, is back in the guest seat to share helpful insights and key reminders with our host, Heather Horn. Topics include:1:15 - Overview of segments. Jay explains the underlying objective of segment reporting and the importance of allowing financial statement users to see the company through the eyes of management.4:45 - Identification of operating segments. Jay defines an operating segment, including how to interpret their key characteristics. He also walks through how to determine your Chief Operating Decision Maker.11:38 - Identification of reportable segments. Next, Jay discusses how to assess which operating segments must be presented as reportable segments in the footnotes, including aggreg

  • Tackling global uncertainty—how will it impact your business?

    07/10/2021 Duration: 31min

    In this week's episode we are exploring the current state of geopolitical forces that are shaping business today. Host Heather Horn sat down with Craig Stronberg, a former historian and current director in PwC Intelligence, and Christina Wobig, a senior manager in PwC Intelligence, to get some insight on the geopolitical landscape, trends, and ways to manage risk.Topics include:1:59 - Geopolitical forces. We begin by setting the stage and covering the trends that warrant heightened CFO focus, including displacement of power around the globe and the effects of inequity.7:27 - Trust and distrust. Can you build trust in today’s geopolitical landscape? Craig stresses the importance of investing in strategic relationships. Christina tells us how trust in business has actually increased over the course of the pandemic.9:41 - Measure, monitor, manage. Geopolitical forces create risk, but companies that look ahead can capture opportunity. Craig and Christina discuss how companies can put a framework into place t

  • Full disclosure: Business combinations

    05/10/2021 Duration: 49min

    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 business combinations. Jay Seliber, PwC National Office partner, is back in the guest seat to share some helpful insights with our host, Heather Horn. Topics include:1:15 - Scope of business combinations. Jay explains the applicability of the business combinations guidance to different types of transactions.3:24 - Balance sheet. Jay highlights the presentation rules on the balance sheet and addresses a common question about the classification of contingent consideration.6:30 - Income statement. Jay takes us through the presentation requirements for business combinations on the income statement, including some of the areas that require more judgment - think previously held equity interests, mark-to-market adjustments on contingent considerat

  • The future of work—a moving target

    30/09/2021 Duration: 39min

    As much as we’d like to put COVID behind us—things are still unpredictable and businesses will need to continue to be agile. In this special episode of PwC’s accounting podcast, Bhushan Sethi, the joint global leader of PwC’s People & Organization practice, is back to discuss the results from PwC’s latest US Pulse Survey and how to translate what we found to your work environment. Topics include:2:14 - Employee turnover. There’s ongoing concern about rising turnover as the “Great Resignation” continues. Bhushan shares data from our latest pulse survey and how companies can address the underlying issues. 14:43 - Retention and safety. As you recruit replacements—think about what needs to be done to “re-recruit” existing employees. Bhushan discusses how companies can design an environment best suited to employee retention and how safety plays a hand. 22:14 - Making hybrid work, work. You heard Bhushan talk about optimizing a hybrid workforce in a past podcast—now he gives us an update on recent trends and ho

  • Full disclosure: Equity method investments and consolidation

    28/09/2021 Duration: 49min

    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 equity method investments and consolidation matters—think majority interests and variable interest entities (VIEs). Matt Sabatini, PwC National Office partner, is back again to share helpful insights and key reminders.Topics include:1:12 - Consolidation. Matt and Heather begin with an overview of the purpose of, and requirements for, consolidated financial statements.11:04 - Variable interest entities. Matt and Heather tackle VIEs first—how are they presented? What are the disclosure objectives and requirements? Our guest also explains what’s different if you’re not the primary beneficiary.22:25 - Other consolidation considerations. Matt dives into a few exceptions to the rules, common SEC comments, and other considerations. 30:46 - Equity method investments. Not required to consolidate?

  • Washington explained: Infrastructure, tax reform, and more

    23/09/2021 Duration: 47min

    In this special episode of PwC’s accounting podcast, Roz Brooks, PwC’s US Public Policy Leader, is back to discuss the latest in Washington—focusing on the current bipartisan infrastructure bill and budget reconciliation working its way through Congress, as well as other policy developments CFOs will want to know about.Topics include:2:29 - Infrastructure and budget reconciliation. As we head into the last quarter of 2021, the House and Senate are negotiating final versions of the bipartisan infrastructure bill and budget reconciliation. Roz talks through the standoffs and what she thinks is likely to happen. 22:03 - Tax reform. What are the latest tax rates on the table? Roz gives an overview of some of the possible changes and reforms being discussed on Capitol Hill. 28:42 - Foreign policy and relations. Whether it’s travel, the supply chain, vaccine availability, or other current events, the global equilibrium has undergone significant changes in recent years. Roz gives her perspective on what Biden and th

  • Full disclosure: Leases

    21/09/2021 Duration: 36min

    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 a lessee’s presentation and disclosure requirements for leases. Suzanne Stephani and Marc Jerusalem, PwC National Office directors, are back in the guest seats to share helpful insights and key reminders.Topics include:1:15 - Balance sheet and income statement. Marc and Suzanne start with the balance sheet and income statement, highlighting the presentation for finance vs. operating leases, current vs. non-current, and more. 10:55 - Statement of cash flows. Suzanne explains how to avoid common stumbling blocks when presenting lease transactions in the statement of cash flows. 15:33 - Disclosure requirements. Lessees have a long list of qualitative and quantitative disclosure requirements that need to be met. Marc details where to start and what to watch out for. 24:11 - Leases in light of

  • COVID-19: How looking back will help business move forward

    16/09/2021 Duration: 38min

    As much as we’d like to put COVID behind us—things are still unpredictable and businesses will need to continue to be agile. This week we’re joined again by Chris Benko, PwC’s chief economist and leader of PwC Intelligence, and Craig Stronberg, a former historian and current Director in PwC Intelligence, for some insight on the impact of COVID-19 as compared to past crises and which lessons learned today may help companies in the future.Topics include:2:25 - Looking to the past and to the future. Craig sets the stage with how COVID has unfolded in the current geopolitical landscape, the direction things are headed, and lessons that can be learned from past crises.12:35 - Economic impacts. Less uncertainty and more predictability—that’s what we all want. Chris discusses the current “stable disequilibrium” we’re in and how companies can continue to exercise strategic agility. 22:10 - Evolving workforce and supply chain. The pandemic continues to disrupt the workforce and supply chain. Business practices will ha

  • Full disclosure: Derivatives and hedging

    14/09/2021 Duration: 32min

    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 presentation and disclosure requirements for derivatives and hedge accounting. Bret Dooley and Steve Halterman are in the guest seats to share helpful insights and key reminders.Topics include:4:14 - Balance sheet and income statement. Bret and Steve begin with an overview of how to present derivative instruments, whether in accounting hedges or or economic hedges. 12:52 - Disclosure requirements. There’s a long list of required disclosures for companies with derivatives. Bret and Steve help break down the objectives of the disclosures and discuss the key disclosures for fair value and cash flow hedges. 20:10 - Other key reminders. Bret highlights key reminders for interim reporting and reference rate reform, and Steve shares some expedients for private companies. 27:00 - Closing. Bret an

  • The quarter close - third quarter 2021

    13/09/2021 Duration: 25min

    In the third quarter of 2021, many companies are keeping a close eye on developments in Washington, including infrastructure legislation and tax reform. The timing for tax reform is not yet clear; however, companies will need to react quickly if new tax laws are enacted. We summarize the key tax reform proposals and how companies can plan ahead.SEC Chair Gary Gensler went on record this quarter with his views on the crypto ecosystem, comparing it to the “wild West” and calling for more investor protection. Whether it’s stablecoins or CBDCs, if you’re having trouble keeping up on the crypto lingo, you’re not alone. We provide a primer on crypto assets and some of the related accounting considerations.  Another phrase you may begin hearing more often is energy efficiency-as-a-service. We explore the accounting implications of this growing ESG trend, including the potential for embedded leases.In standard-setting news, the FASB has added projects to make course corrections on accounting for credit losses and iss

  • Facts on SPACs: Crossing the finish line

    09/09/2021 Duration: 29min

    Special-purpose acquisition companies (SPACs) have been around for some time, but in the last 24 months there have been an unprecedented number of companies going public via a SPAC transaction. In our Facts on SPACs mini-series, we cut through the noise to help you focus on some of the key issues relating to these transactions. In the final episode of our six-part series on SPACs, Mike Bellin, PwC’s IPO Services co-leader, is back to wrap-up our deep dive into SPACs. Mike and Heather reflect on how the SPAC market has continued to evolve and key considerations as companies prepare for going public.Topics include:1:09 - Developments in the past month. One month since our first conversation on SPACs - what’s happened in the market since then, and how have things evolved? Mike explains. 11:54 - SPAC strategy. There is an endless task list and many agreements to reach before going public. Mike highlights five items commonly negotiated between SPACs and their targets.18:14 - Being public. We’ve talked about the di

  • Full disclosure: Loans and credit losses

    07/09/2021 Duration: 37min

    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 loans and receivables, including how the credit losses standard, with its current expected credit loss (CECL) model, changed the presentation and disclosure requirements. Tom Barbieri and Bret Dooley, PwC National Office partners, sat down with our host, Heather Horn, to share insights and reminders in the post-adoption world.Topics include:2:06 - Balance sheet and income statement. Tom and Bret begin with an overview of what to present on two of the primary financial statements for loans and receivables.10:14 - Disclosure requirements. Tom highlights key disclosures for companies with loans receivable assets. He addresses requirements from accounting policies through credit quality indicators. 19:02 - Allowance for credit losses. Bret dives into the required disclosures for companies tha

  • Facts on SPACs: Accounting differences between private and public

    02/09/2021 Duration: 34min

    Special-purpose acquisition companies (SPACs) have been around for some time, but in the last 24 months there have been an unprecedented number of companies going public via a SPAC transaction. In our Facts on SPACs mini-series, we cut through the noise to help you focus on some of the key issues relating to these transactions. In episode five of our six-part series on SPACs, Heather is joined by Jay Seliber, PwC National Office partner, and John Horan, PwC National Office managing director, to talk through key accounting and reporting differences between private and public company financial statements and to share related insights and reminders.Topics include:1:11 - Mezzanine equity. Found somewhere between liabilities and shareholders’ equity, John explains what mezzanine equity is and the SEC’s rules for presenting it. 9:58 - Earnings per share. A complicated area, made even more so by the complex capital structures commonly seen in the operating companies involved in a SPAC—Jay and John highlight some key

  • Full disclosure: Revenue

    31/08/2021 Duration: 36min

    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 revenue. Angela Fergason is joining us again to break down revenue from contracts with customers and what needs to be included in your financial statements. Topics include:1:15 - Income statement and balance sheet. Angela opens with a quick overview of how to present revenue on the income statement and balance sheet, and a few reminders of key requirements. 11:29 - Disaggregated revenue. Angela gives an overview of the five major disclosure areas for revenue and dives into requirements around disaggregating revenue. 16:23 - Performance obligations. Angela explains the quantitative and qualitative disclosure requirements for performance obligations, paying particular attention to those related to remaining performance obligations—which are o

  • Facts on SPACs: Compensation arrangements

    26/08/2021 Duration: 26min

    Special-purpose acquisition companies (SPACs) have been around for some time, but in the last 24 months there have been an unprecedented number of companies going public via a SPAC transaction. In our Facts on SPACs mini-series, we cut through the noise to help you focus on some of the key issues relating to these transactions. In episode four of our six-part series on SPACs, Jay Seliber, PwC National Office partner, is back again. This time he’s explaining how to apply compensation guidance to certain arrangements common in a SPAC transaction.Topics include:1:08 - Identification. Jay explains how to identify instruments subject to the compensation guidance and the most common instruments used as compensation in SPAC transactions. 15:23 - What to look out for. Jay highlights pitfalls he’s seen in past SPAC deals and how to plan ahead to avoid them. 18:18 - EPS. Jay shares how earnouts and warrants impact EPS when they’ve been determined to be compensatory and not financial instruments. 21:18 - Key takeaways.

  • Full disclosure: Other liabilities

    24/08/2021 Duration: 30min

    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 fair value disclosure requirements for other liabilities—specifically payables, contingencies, and asset retirement obligations (AROs). Pat Durbin and John Brittain are in the guest seats to share helpful insights and key remindersTopics include:1:23 - Accounts and notes payable. Pat and John explain the presentation and disclosure requirements for payables and highlights key requirements in S-X Rule 5-02. 9:02 - Contingencies. Pat dives into accounting considerations for environmental liabilities as well as general presentation and disclosure matters for other contingencies. 20:19 - AROs. John breaks down the disclosure requirements for AROs and what to do when they cannot be reasonably estimated. 24:45 - Wrap up. Heather tries to stump Pat and John with two challenging questions, an

  • Facts on SPACs: A focus on warrants, earnouts, and EPS

    19/08/2021 Duration: 35min

    Special-purpose acquisition companies (SPACs) have been around for some time, but in the last 24 months there have been an unprecedented number of companies going public via a SPAC transaction. In our Facts on SPACs mini-series, we cut through the noise to help you focus on some of the key issues relating to these transactions. In episode three of our six-part series on SPACs, Chip Currie, PwC National Office partner, discusses common financial instruments associated with SPAC transactions and their treatments.Topics include:0:44 - Background. Chip introduces two common arrangements associated with SPAC transactions and explains how equity-linked financial instruments issued prior to a merger with an operating company often survive the acquisition. 12:52 - Accounting treatment. Chip dives into the accounting model for certain warrant and earn-out arrangements and a recent opinion on this topic from the SEC.23:02 - Earnings per share. Once the instruments have been issued and the accounting treatment determine

  • Full disclosure: Fair value

    17/08/2021 Duration: 38min

    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 fair value disclosure requirements. Chip Currie from our National Office is back in the guest seat to discuss key reminders with our host, Heather Horn. Topics include:1:10 - The Basics. Chip and Heather begin by discussing some of the “core” fair value disclosure requirements and how the requirements evolved into their current state.9:32 - Leveling. Chip explains the objectives of fair value leveling classifications, how they’re determined by their inputs, and their presentation in the footnotes. 23:58 - Additional requirements. Chip dives into additional required disclosures for public business entities and companies electing the fair value option. 32:12 - Wrap up. Heather tries to stump Chip with two challenging questions, and Chip provides pointers on where to find additional reso

  • Facts on SPACs: Are you sure who’s the acquirer?

    12/08/2021 Duration: 20min

    Special-purpose acquisition companies (SPACs) have been around for a long time, but in the last 24 months, the SPAC market has seen an unprecedented amount of activity. In our Facts on SPACs mini-series, we cut through the noise to tell you exactly what you need to know about this boom. In episode two of our six-part series on SPACs, Matt Sabatini, PwC National Office partner, is back to share some helpful insights when determining the accounting acquirer in a SPAC transaction. Topics include:0:56 - Background. Matt and Heather begin with an introduction to one of the first steps to any SPAC transaction – identifying the accounting acquirer. Generally, it’s the same assessment as in a business combination, but most importantly, it’s not a “one size fits all” analysis - Matt explains.6:31 - Exceptions to the rule. We said it was “generally” the same as any business combination. Matt describes two exceptions when different accounting guidance needs to be used to identify the accounting acquirer. 12:39 - Downstr

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