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PwC's accounting podcast

Our accounting podcast features PwC specialists discussing today's most compelling accounting, regulatory and financial reporting issues. From the new leases and revenue standards to CECL to LIBOR rate replacement, PwC Partner Heather Horn hosts each episode tackling a single topic and providing listeners with key takeaways to stay informed on these important accounting matters.

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Impairment toolkit: Financial instruments

In our Toolkit podcast series, we take a deep dive into one accounting topic each month that goes beyond the basics and into areas that require judgment. This month, we are covering impairments – a complex topic with a variety of accounting and reporting considerations.In this episode, Heather Horn was joined by Bret Dooley, a partner in the National Office, and Shannon Detling, a partner in the Financial Markets practice, to discuss key considerations when working through the impairment accounting framework for financial instruments. In this episode, you will hear them discuss:0:38 - An overview of the impairment model for equity and available-for-sale debt securities6:07 - How current market conditions are impacting impairment assessments11:15 - Highlights of the current expected credit losses (CECL) model for amortized cost assets17:12 - Effect of macroeconomic trends when determining credit losses under CECL29:03 - Consideration of risks and relevant controls in the credit loss estimation process33:16 - Credit outlook for the future based on current trends38:12 - Key reminders for companies thinking through the impairment model for financial instrumentsWant to learn more? Refer to the first episode in our impairment toolkit series on inventory and other current assets, along with previous podcasts on impairment accounting, including accounting for goodwill and other impairments and answers to your impairment valuation questions. Stay tuned for more insightful episodes in the coming weeks.Bret Dooley is a Deputy Chief Accountant in PwC’s National Office and the financial instruments accounting leader. He has over 25 years of experience specializing in the financial services, banking, and capital markets industries. Bret focuses on emerging financial reporting issues relating to financial instruments, developing interpretive guidance, and assisting clients in resolving complex accounting matters.Shannon Detling is a Partner within PwC’s Financial Markets group, specializing in financial instruments, financial risk management, and financing transactions. He has extensive knowledge of capital markets, changing regulation and policy, and evolving market conditions. Shannon advises clients on how to achieve their objectives and assists them in execution from strategy through to operations, valuation, and reporting, including design, implementation, and integration of systems, processes, and controls.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. With over 30 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. 

44mins

13 Sep 2022

Rank #1

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ESG industry insights: Aviation

With ESG top of mind for many companies, we’re continuing our podcast series looking at how the current and future reporting landscape may impact individual industries. This week, guest host Casey Herman, PwC’s US ESG leader, was joined by PwC specialists Scott Thompson and Mark Roslin to discuss the current state of climate and ESG reporting in the aviation industry and the related challenges.In this episode, our guests discuss:1:45 - Technologies on the horizon that have the potential to impact the aviation industry’s greenhouse gas emissions profile8:35 - Incentives for sustainable aviation fuel in the Inflation Reduction Act16:42 - Challenges of reporting under the SEC climate disclosure proposal for the aviation industry26:46 - Navigating social and governance considerations in the aviation industryListen to our previous podcast that provides insights into the ESG disclosures that matter to investors. Also refer to the text or audio version of our In the loop, The SEC wants me to disclose what?Scott Thompson is PwC's Global Aerospace & Defense Leader, leading a team of 1,700 professionals delivering audit, tax, and advisory services to the world’s top aerospace and defense companies. Scott is a widely recognized expert in the industry, with his commentaries frequently featured in industry publications and other media outlets. Scott also hosts the annual Aerospace & Defense Finance Executive Roundtable.Mark Rosling is a director in PwC’s Trust Solutions ESG practice. Mark works with clients to establish the controls, processes, and structures needed for accurate ESG reporting, in addition to helping companies integrate ESG into their corporate reporting.Casey Herman is PwC’s US ESG Leader. Casey has over 35 years of experience leading and working on the audits of many significant, complex clients and is a member of the Edison Electric Institute's Wall Street Advisory Group, the Electric Power Research Institutes Advisory Council, and the NYU Stern Business School Center for Sustainable Business Advisory Council.Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com.

39mins

7 Sep 2022

Rank #2

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Impairment toolkit: Inventory and other current assets

In our Toolkit podcast series, we take a deep dive into one accounting topic each month that goes beyond the basics and into areas that require judgment. This month, we are covering impairments – a complex topic with a variety of accounting and reporting considerations.In this episode, Heather Horn was joined by PwC partner Pat Durbin to discuss key considerations when working through the impairment accounting framework, including a focus on impairment considerations for inventory and other current assets. In this episode, you will hear them discuss:1:05 - An overview of current macroeconomic factors that contribute to the impairment of assets5:32 - An introduction to the impairment framework12:01 - Impairment triggers for non-financial assets, including examples seen in practice22:38 - Sector-specific considerations to keep in mind25:10 - The inventory impairment model31:53 - Impairment accounting for other current assets38:43 - Key reminders as companies think through the impairment modelWant to learn more? Refer to our previous podcasts on impairment accounting, including accounting for goodwill and other impairments and answers to your impairment valuation questions. Stay tuned for more insightful episodes in the coming weeks.Pat Durbin is a Deputy Chief Accountant, leading the revenue and liabilities division in PwC’s National Office. He has over 30 years of experience consulting with our clients and engagement teams on complex accounting matters, including issues related to revenue, compensation, income taxes, and inventory under both US GAAP and IFRS.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. With over 30 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.

43mins

6 Sep 2022

Rank #3

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ESG industry insights: Banking & capital markets

With ESG top of mind for many companies, we’re continuing our podcast series looking at how the current and future reporting landscape may impact individual industries. This week, guest host Casey Herman, PwC’s US ESG leader, was joined by PwC partners Brittany Schmidt and David Challen to discuss the current state of climate and ESG reporting in the banking and capital markets industry, the related challenges, and how to best prepare to address them.In this episode, our guests discuss:1:37 - Why the banking and capital markets industry has been at the forefront of voluntary ESG reporting6:41 - Industry themes in responses to the SEC’s climate proposal14:37 - Key requirements of the SEC’s proposal and difficulties financial services companies may face addressing them20:39 - How financial services companies are thinking about the proposed scope 3 disclosure requirements29:39 - Forward-looking disclosure requirements and how to prepare for the proposal’s implementation35:51 - Final thoughts on the proposed disclosure requirementsListen to our previous podcast that provides insights into the ESG disclosures that matter to investors. Also refer to the text or audio version of our In the loop, The SEC wants me to disclose what?Brittany Schmidt is a partner in PwC’s financial services consulting practice with over 15 years of experience helping banks and other financial services clients navigate the rapid pace of change in the regulatory and business landscape. Brittany is a firm-designated ESG champion for the financial services sector.David Challen is a partner in PwC’s banking and capital markets Trust Solutions practice with over 15 years of industry experience. He has worked with clients ranging from large, multinational banking institutions to broker-dealers and asset management advisors and funds. David is a firm-designated ESG champion for the financial services sector.Casey Herman is PwC’s US ESG Leader. Casey has over 35 years of experience leading and working on the audits of many significant, complex clients and is a member of the Edison Electric Institute's Wall Street Advisory Group, the Electric Power Research Institutes Advisory Council, and the NYU Stern Business School Center for Sustainable Business Advisory Council.Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com.

42mins

31 Aug 2022

Rank #4

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Compensation toolkit: Impact of M&A activity on awards

In our Toolkit podcast series, we take a deep dive into one accounting topic each month that goes beyond the basics and into areas that require judgment. This month, we are covering stock-based compensation – a complex subject with a variety of accounting and reporting considerations. In this episode, Heather Horn was joined by PwC partners Gina Klein and Jay Seliber to discuss the complexities of stock-based compensation accounting arising from merger and acquisition activity.  In this episode, you will hear them discuss: 1:49 - Key business issues associated with stock-based awards in a transaction  6:14 - Accounting considerations for awards from the sale of a business11:03 - Modifying awards in response to a planned change in control20:36 - Considerations for vesting conditions tied to the closing of a transaction 24:05 - Transactions where the buyer replaces the seller’s awards29:24 - Other common examples of award structuring as part of M&A activity40:25 - Key points when accounting for stock-based awards during transactions Want to learn more? Refer to previous episodes in our Compensation toolkit series on challenges for private company awards, making sense of stock award modifications, equity or liability classification, and unraveling complex vesting conditions. Also refer to our Stock-based compensation guide for more helpful information. Gina Klein is a partner leading PwC’s HR Accounting Advisory practice in Workforce Transformation where she works with companies to address the financial reporting, design, and operational issues associated with employee compensation, including stock compensation, pension plans, and other employee benefit arrangements. Gina has also spent time in PwC’s National Office, advising clients on complex accounting matters related to employee compensation under both IFRS and US GAAP. Jay Seliber is a partner in PwC’s National Office. He leverages over 30 years of experience to help clients with their most complex accounting matters, particularly in the areas of mergers and acquisitions, revenue recognition, stock compensation, earnings per share, employee benefits, restructurings, impairments, and financing transactions. Jay is presently PwC's representative on the FASB's Emerging Issues Task Force. 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. With over 30 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.

52mins

30 Aug 2022

Rank #5

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ESG industry insights: Insurance

With ESG top of mind for many companies, we’re continuing our podcast series looking at how the current and future reporting landscape may impact individual industries. This week, guest host Casey Herman, PwC’s US ESG leader, was joined by PwC partners Jennifer Kosar and Erica Chase to discuss the current state of climate and ESG reporting in the insurance industry and the associated challenges.In this episode, our guests discuss:1:51 - The current state of climate and ESG reporting in the insurance industry and areas of focus11:35 - Challenges and concerns insurers are thinking about as they work through ESG reporting17:34 - Planning to comply with the proposed reporting requirements while protecting proprietary information23:55 - The impact of the proposed footnote disclosures on the industry and how companies are planning for the requirements31:15 - Navigating the overlapping layers of state, federal, and international reporting requirements37:41 - What industry leaders are doing now to address the new ESG reporting requirements, and what’s to comeListen to our previous podcast that provides insights into the ESG disclosures that matter to investors. Also refer to the text or audio version of our In the loop, The SEC wants me to disclose what?Jennifer Kosar is a partner in PwC’s Digital Assurance and Transparency practice, helping clients in the financial services industry through the design and execution of governance, risk management, audit, and compliance programs throughout their organization. Recently, Jenn has focused on providing support to her clients on the risks and opportunities that ESG creates for the financial services industry.Erica Chace is a partner in PwC’s Trust Solutions practice, specializing in providing assurance services to insurance companies. Erica supports PwC’s Sustainability Services group, which involves helping clients develop their ESG strategy and assess relevant reporting requirements.Casey Herman is PwC’s US ESG Leader. Casey has over 35 years of experience leading and working on the audits of many significant, complex clients and is a member of the Edison Electric Institute's Wall Street Advisory Group, the Electric Power Research Institutes Advisory Council, and the NYU Stern Business School Center for Sustainable Business Advisory Council.Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com.

45mins

24 Aug 2022

Rank #6

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Compensation toolkit: Challenges for private company awards

In our Toolkit podcast series, we take a deep dive into one accounting topic each month that goes beyond the basics and into areas that require judgment. This month, we are covering stock-based compensation – a complex subject with a variety of accounting and reporting considerations. In this episode, Heather Horn was joined by PwC National Office partners Jay Seliber and Ken Stoler to discuss private company-specific accounting considerations for stock compensation. In this episode, you will hear them discuss: 1:30 - Key differences between public and private companies when accounting for equity-classified stock awards 9:03 - Private company accounting considerations for liability-classified stock awards13:38 - An overview of profits interest awards commonly seen at private companies21:20 - Equity restructurings and key points to keep in mind33:08 - Accounting for loans given to employees to purchase stock50:18 - Where to find more information on stock compensation for private companies Want to learn more? Refer to previous episodes in our Compensation toolkit series on making sense of stock award modifications, equity or liability classification and unraveling complex vesting conditions. Also refer to our Stock-based compensation guide for more helpful information. Jay Seliber is a partner in PwC’s National Office. He leverages over 30 years of experience to help clients with their most complex accounting matters, particularly in the areas of mergers and acquisitions, revenue recognition, stock compensation, earnings per share, employee benefits, restructurings, impairments, and financing transactions. Jay is presently PwC's representative on the FASB's Emerging Issues Task Force. Ken Stoler is a partner in PwC’s National Office with over 25 years of experience. Ken specializes in financial reporting and plan design issues related to equity compensation arrangements, retirement and healthcare plans, and other benefits, helping companies navigate their employee compensation issues during an IPO, spin off, acquisition, or other major transaction or event.  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. With over 30 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.

56mins

23 Aug 2022

Rank #7

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Special episode: ESG incentives in the Inflation Reduction Act

The Inflation Reduction Act (the Act), signed into law on August 16, includes a number of green initiatives and incentives – but what are they, and how will they impact businesses? In this special episode, host Heather Horn was joined by Casey Herman and Matt Haskins, specialists in PwC’s ESG groups, to discuss the ESG initiatives that companies will have to consider as part of the Act.In this episode, you will hear them discuss:2:25 - Background on the Act, and how it is structured to prioritize incentives rather than penalties for green innovation7:58 - An overview of the major areas of credits in the law16:09 - Perspective on the breadth of impact of the Act to the overall economy19:32 - How electricity storage technology is needed to enable broader adoption of renewable electricity26:33 - Examples of how companies in a variety of industries could be impacted by the Act35:34 - The expected impacts of the Act in reducing greenhouse gas emissions36:27 - Opportunities for entities not directly involved in generating tax credits to benefit from the Act42:12 - Looking at the social incentives in the Act, and how these unlock additional credit dollars48:24 - Constraints that companies will face as they work to take advantage of the incentives in the ActFor more information about developments in ESG, listen to our previous podcast that provides insights into the ESG disclosures that matter to investors. Also refer to the text or audio version of our In the loop, The SEC wants me to disclose what?Matt Haskins is a principal in PwC’s Washington National Tax Services, where he leads the firm's Cleantech tax practice, focusing on renewable energy financing and M&A transactions. In addition to writing and speaking on issues in the renewable energy industry, Matt has co-chaired the energy and environmental taxes working group for the US Council on International Business and served as a delegate for key energy initiatives of the Organization for Economic Cooperation and Development.Casey Herman is PwC’s US ESG Leader. Casey has over 35 years of experience leading and working on the audits of many significant, complex clients and is a member of the Edison Electric Institute's Wall Street Advisory Group, the Electric Power Research Institutes Advisory Council, and the NYU Stern Business School Center for Sustainable Business Advisory Council.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. With over 30 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. 

58mins

18 Aug 2022

Rank #8

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ESG industry insights: Technology

With ESG top of mind for many companies, we’re continuing our new podcast series looking at how the current and future reporting landscape may impact individual industries. This week, guest host Casey Herman, PwC’s US ESG leader, was joined by Rich Goode and Robert Moline from PwC’s ESG practice to discuss the strategy and reporting challenges that technology companies face.In this episode, our guests discuss:2:20 - The current state of ESG reporting in the technology industry7:16 - An overview of the SEC’s climate proposal requirements that will impact technology companies16:49 - Effective data collection for meeting the disclosure requirements26:55 - Observations from the industry’s response letters to the SEC’s climate proposal30:09 - The challenges technology companies may face in meeting the proposed emissions disclosure requirements39:41 - Advice and recommendations for technology companies to proactively ready their reporting processesListen to our previous podcast that provides insights into the ESG disclosures that matter to investors. Also refer to the text or audio version of our In the loop, The SEC wants me to disclose what?Robert Moline is a PwC Partner in our technology, media and telecommunications consulting group. Robert focuses on the transformation of global technology industry clients with a focus on sustainability and climate driven change.Rich Goode is a principal in PwC's ESG practice where he assists clients in the technology, media, and telecommunications sectors navigate key environmental, social, and governance issues. Leveraging 30 years of experience, Rich also currently serves as an Adjunct Lecturer at Harvard University.Casey Herman is PwC’s US ESG Leader. Casey has over 35 years of experience leading and working on the audits of many significant, complex clients and is a member of the Edison Electric Institute's Wall Street Advisory Group, the Electric Power Research Institutes Advisory Council, and the NYU Stern Business School Center for Sustainable Business Advisory Council.Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com. 

44mins

17 Aug 2022

Rank #9

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Compensation toolkit: Making sense of stock award modifications

In our Toolkit podcast series, we take a deep dive into one accounting topic each month that goes beyond the basics and into areas that require judgment. This month, we are covering stock-based compensation – a complex subject with a variety of accounting and reporting considerations. In this episode, Heather Horn was joined by PwC National Office partners Jay Seliber and Ken Stoler to discuss a number of scenarios and accounting considerations related to stock-based compensation award modifications. In this episode, you will hear them discuss: 1:22 - An overview of stock option modifications 12:20 - Four types of modifications to awards with vesting conditions29:22 - How to think through changes to the classification of an award 37:34 - Accounting for changes to performance conditions45:52 - Working through changes to market conditions53:22 - Final advice for companies dealing with stock option modifications Want to learn more? Refer to previous episodes in our Compensation toolkit series on equity or liability classification and unraveling complex vesting conditions, along with earlier podcasts on stock-based compensation including back to basics and presentation and disclosure. See also our Stock-based compensation guide. Stay tuned for more insightful episodes in the coming weeks. Jay Seliber is a partner in PwC’s National Office. He leverages over 30 years of experience to help clients with their most complex accounting matters, particularly in the areas of mergers and acquisitions, revenue recognition, stock compensation, earnings per share, employee benefits, restructurings, impairments, and financing transactions. Jay is presently PwC's representative on the FASB's Emerging Issues Task Force. Ken Stoler is a partner in PwC’s National Office with over 25 years of experience. Ken specializes in financial reporting and plan design issues related to equity compensation arrangements, retirement and healthcare plans, and other benefits, helping companies navigate their employee compensation issues during an IPO, spin off, acquisition, or other major transaction or event.  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. With over 30 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. 

1hr

16 Aug 2022

Rank #10