PwC's accounting podcast

In each episode of our Year-end toolkit series, our guests share insights on key areas of the year-end accounting and reporting process. The conversations are relevant for all finance teams, even if it’s not year-end close time. And it’s relevant even for those not engaged in the company’s closing process – the episodes have something for everyone. In this bonus episode of our Year-end toolkit series, we share reminders and insights on IFRS reporting for companies that are getting ready to report in 2025. In this episode, we discuss:2:18 – Segment disclosures4:51 – Accounting standards newly applicable for December 31, 2024 year ends, including those related to:5:07 – Non-current liabilities with covenants7:25 – Supplier finance arrangements10:22 – Sale and leaseback transactions11:38 – Recent priorities and focus areas of European regulators that may impact US companies20:27 – Hyperinflationary economies23:36 – New IFRS accounting standards effective in 2025 and beyond and looking ahead to 2025 broadlyAdditionally, follow this podcast on your favorite podcast app for more episodes.About our guest:Gary Berchowitz is the corporate accounting topic team leader in PwC’s Global Assurance Quality - Corporate Reporting Services group. Gary brings over 20 years of financial accounting experience, working to drive quality and connectivity throughout the PwC network and help local teams solve complex accounting issues in a practical way. Gary leads the development of PwC’s global view on a variety of financial reporting matters. About our host:Heather Horn is the PwC National Office Sustainability and 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. Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

In each episode of our Year-end toolkit series, our guests share insights on key areas of the year-end accounting and reporting process. The conversations are relevant for all finance teams, even if it’s not year-end close time. And it’s relevant even for those not engaged in the company’s closing process – the episodes have something for everyone.In this episode, we provide an overview of new standards effective in 2025. Our discussion will help get you up to speed as you prepare for 2025 (and don’t forget that the impact of adopting new standards may also need to be disclosed in your 2024 financial statements).In this episode, we discuss new standards related to the following topics:2:08 – An overview of the new standards effective in 20253:42 – Joint venture formations12:53 – Crypto assets24:39 – Profits interests and similar awards33:39 – Investments in tax credit entitiesAdditionally, follow this podcast on your favorite podcast app for more episodes.About our guest: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.About our host:Guest host Kyle Moffatt is PwC’s Professional Practice leader, leading a team responsible for working with standard setters and regulators as well as delivering brand-defining thought leadership and educational materials. He also consults with engagement teams and audit clients on SEC reporting matters. Before PwC, Kyle spent almost 20 years with the SEC, most recently as Chief Accountant and Disclosure Program Director in the Division of Corporation Finance.Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com. Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

We are revisiting a conversation on Talking ESG that was originally recorded in September at NYC Climate Week to highlight our host and guest appearing together on The Atlantic's podcast, The Most Interesting Thing In A.I. In both episodes, they examine the intersection of two trending topics: AI and sustainability, discussing the environmental impact of AI and the balance between AI's benefits and its environmental footprint.Listen in to this reissued episode in which Scott Likens, PwC Global Chief AI Engineer, and host Heather and Horn discuss:3:17 – How AI is impacting sustainability8:54 – Why AI and sustainability aren’t necessarily opposing forces17:28 – Practical examples of utilizing AI to optimize energy usage28:22 – The broader benefits of using AI to impact sustainability31:05 – Balancing AI’s benefits with its environmental footprint38:32 – Advice for both companies and individuals leveraging AIAlso listen as Heather and Scott were guests on The Atlantic's The Most Interesting Thing In A.I. podcast hosted by Nicholas Thompson. In that episode, they expanded the dialogue on AI and its role in addressing climate concerns to further examine the balance between leveraging AI for progress and mitigating its environmental impact.Looking for more from PwC on AI? Check out PwC’s 2024 US Responsible AI Survey and 2025 AI Business Predictions.Scott Likens is the Global and US Chief AI Engineer leading and overseeing the AI Engineering and Emerging Technology teams in the United States. With more than 30 years of emerging technology experience, he has helped clients transform their customer experience and enhance their digital operations across all aspects of their business.Heather Horn is the PwC National Office Sustainability and 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. Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

In each episode of our Year-end toolkit series, our guests share insights on key areas of the year-end accounting and reporting process. The conversations are relevant for all finance teams, even if it’s not year-end close time. And it’s relevant even for those not engaged in the company’s closing process – the episodes have something for everyone. In this episode, we talk about the audit committee from the perspective of management. We discuss strategies for finance teams as they prepare for audit committee meetings to elevate their effectiveness, along with the top issues audit committees are focused on for 2025.  In this episode, we discuss:  2:31 – Strategies for improving management communication and collaboration with audit committees5:00 – Key issues finance teams should prepare to address with audit committees in 2025, including:5:23 – Impacts of the presidential administration change8:03 – Best practices for managing the board agenda12:50 – The role of technology transformation and AI in business17:09 – Navigating mergers and acquisitions effectively   22:40 – Strengthening risk oversight and enhancing disclosures26:22 – Insights into core areas of audit committee oversight, including financial reporting and controls36:33 – Trends and best practices in public company audit committee disclosures Additionally, follow this podcast on your favorite podcast app for more episodes.About our guest:Stephen Parker is a partner in PwC’s Governance Insights Center, which strives to strengthen the connection between directors, executive teams, and investors by helping them navigate the evolving governance landscape. With more than 30 years of experience, Stephen has advised boards of directors on a variety of complex financial reporting matters. Stephen’s client service experience includes energy and utility companies, financial services companies, and nonprofits. About our host:Guest host Kyle Moffatt is PwC’s Professional Practice leader, leading a team responsible for working with standard setters and regulators as well as delivering brand-defining thought leadership and educational materials. He also consults with engagement teams and audit clients on SEC reporting matters. Before PwC, Kyle spent almost 20 years with the SEC, most recently as Chief Accountant and Disclosure Program Director in the Division of Corporation Finance.  Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com. Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

In each episode of our Year-end toolkit series, our guests share insights on key areas of the year-end accounting and reporting process. The conversations are relevant for all finance teams, even if it’s not year-end close time. And it’s relevant even for those not engaged in the company’s closing process – the episodes have something for everyone.In this next episode of our series, we discuss tax accounting and reporting reminders with Jennifer Spang, PwC’s National Office income tax accounting leader. We cover a variety of tax accounting and reporting topics, including the impact of recent election results and the associated tax impacts expected in 2025.In this episode, we discuss:2:40 – Anticipated tax implications following the 2024 US election results10:50 – Pillar Two 17:36 – The FASB’s disclosure standard 21:58 – Uncertain tax positions27:56 – Inflation Reduction Act credits and valuation allowances32:43 – Advice for year-end income tax accountingFor more information about key developments at the AICPA & CIMA conference, see our publication, 2024 AICPA & CIMA Conference: Current SEC and PCAOB Developments and see our publication, Accounting for Pillar Two: Frequently asked questions for the latest on the topic.Also, check out our other episodes in this miniseries:Year-end toolkit: Audit reminders for preparersYear-end toolkit: Year in review from the corner officeYear-end toolkit: Accounting and reporting reminders for 2025And please follow this podcast on your favorite podcast app for more episodes.Jennifer Spang is PwC’s 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.Guest host Kyle Moffatt is PwC’s Professional Practice leader, leading a team responsible for working with standard setters and regulators as well as delivering brand-defining thought leadership and educational materials. He also consults with engagement teams and audit clients on SEC reporting matters. Before PwC, Kyle spent almost 20 years with the SEC, most recently as Chief Accountant and Disclosure Program Director in the Division of Corporation Finance.Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com. Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

In this insightful discussion, Brian Croteau, PwC's U.S. Chief Auditor, shares expert reminders for year-end audits. He highlights key takeaways from the recent AICPA & CIMA conference, emphasizing audit quality and stakeholder engagement. Listeners will learn about the importance of robust documentation for new accounting standards, assessing financing risks, and the implications of significant contract modifications. Croteau also tackles issues like independence risks and unexpected fraud, while addressing the role of AI in financial reporting.

In each episode of our Year-end toolkit series, our guests share insights on key areas of the year-end accounting and reporting process. The conversations are relevant for all finance teams, even if it’s not year-end close time. And it’s relevant even for those not engaged in the company’s closing process – the episodes have something for everyone.In this next episode of our series, we discuss accounting and reporting reminders and timely insights with some of the top technical leaders from our National Office. A one-stop shop for year end, we cover a variety of accounting and reporting topics from contract modifications to financing transactions to segments and many things in between.In this episode, we discuss accounting and reporting reminders related to:2:03 – Natural disasters6:04 – Highly inflationary economies8:20 – Tax regulatory landscape12:07 – Close calls on impairments and other accounting estimates14:13 – Revenue15:56 – Contract modifications25:41 – Capital raising transactions32:35 – Statement of cash flows37:05 – Segment reporting43:28 – Supplier finance obligations44:59 – New standards and looking ahead to 2025Check out the other episode in this miniseries, Year-end toolkit: Year in review from the corner office. Additionally, follow this podcast on your favorite podcast app for more episodes. Beth Paul is a Deputy Chief Accountant in PwC’s National Office responsible for a team of consultants that specialize in business combinations and related areas, such as consolidations, disposals, impairments, and segment reporting. She has over 30 years of experience consulting with clients and engagement teams on complex accounting matters.Bret Dooley is a PwC National Office Deputy Chief Accountant who leads teams focused on the financial services sectors and accounting for financial instruments. He has over 25 years of experience in the financial services, banking, and capital markets industries. Bret focuses on emerging financial reporting issues related to financial instruments, developing interpretive guidance, and assisting clients in resolving complex accounting mattersPat Durbin is a PwC National Office Deputy Chief Accountant. 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.Guest host Kyle Moffatt is PwC’s Professional Practice leader, leading a team responsible for working with standard setters and regulators as well as delivering brand-defining thought leadership and educational materials. He also consults with engagement teams and audit clients on SEC reporting matters. Before PwC, Kyle spent almost 20 years with the SEC, most recently as Chief Accountant and Disclosure Program Director in the Division of Corporation Finance.Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com. Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

In each episode of our Year-end toolkit series, our guests share insights on key areas of the year-end accounting and reporting process. The conversations are relevant for all finance teams, even if it’s not year-end close time. And it’s relevant even for those not engaged in the company’s closing process – the episodes have something for everyone.To kick off the series, host Heather Horn is joined by Tim Carey, PwC National Office leader, and Kyle Moffatt, PwC National Office Professional Practice leader, to reflect on the key developments of 2024 from their perspectives and look ahead at what’s to come in 2025. In this episode, we discuss:1:45 – External factors impacting accounting and reporting, including the presidential election and the recent AICPA/SEC conference10:11 – Supreme Court case rulings impacting financial regulation and rulemaking from the year15:17 – What’s on the horizon for cryptocurrency accounting and the latest on the cybersecurity disclosure rule27:32 – Notable regulatory activity from the PCAOB, including the costs and benefits of current proposed rules40:21 – What role the FASB plays in the current regulatory and rulemaking landscape47:12 – SEC climate disclosure rule and other sustainability requirements53:30 – What’s in store for 2025Tim Carey is PwC’s National Office leader, with 30+ years of experience in complex accounting, tax, and reporting issues. Tim has led large-scale teams on a wide range of projects including financial statement audits, transaction structuring, financial due diligence, and post-merger integration.Kyle Moffatt is PwC’s Professional Practice leader, leading a team responsible for working with standard setters and regulators as well as delivering brand-defining thought leadership and educational materials. He also consults with engagement teams and audit clients on SEC reporting matters. Before PwC, Kyle spent almost 20 years with the SEC, most recently as Chief Accountant and Disclosure Program Director in the Division of Corporation Finance.Heather Horn is the PwC National Office Sustainability and 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. Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

This next episode of our 2024 SEC comment letter podcast miniseries discusses Foreign Private Issuers (FPIs). Many of the considerations we talk about for other SEC filers also apply to FPIs; however, there can be some differences and added complexities. We discuss the issues most frequently raised by the SEC staff, including those unique to FPIs, and offer advice to preparers for getting ahead of them. In this episode, we discuss:7:24 – Comment letter trends specific to FPIs, including those related to: 8:55 – Non-GAAP performance measures16:15 – Segment reporting21:32 – Revenue25:01 – Management’s Discussion and Analysis30:29 – Financial instruments41:39 – FPI status re-assessment44:53 – IFRS segment reporting considerations  47:45 – Other accounting and reporting reminders related to FPIsFor more information, see our full analysis of SEC comment letter trends. Also, check out our other episodes in this miniseries:SEC comment letters – What’s trending in 20242024 SEC comment letter trends: Revenue2024 SEC comment letter trends: Business combinations2024 SEC comment letter trends: Segment reporting2024 SEC comment letter trends: MD&AAdditionally, follow this podcast on your favorite podcast app for more episodes.Patrick Higgins is a Deputy Chief Accountant in PwC’s National Office responsible for our SEC foreign private issuer and IFRS teams. Patrick has also served as a global signing partner in a variety of countries and industries.   Kevin Vaughn is a PwC National Office partner specializing in SEC reporting matters. Kevin leverages his extensive experience to support PwC public company and pre-IPO clients on accounting and SEC reporting matters. Prior to joining PwC in 2023, Kevin spent over 18 years at the SEC, most recently serving on the leadership team in the SEC’s Office of the Chief Accountant where he focused on technical accounting consultations, SEC rulemakings, and standard setting matters.Kyle Moffatt is PwC’s Professional Practice leader, leading a team responsible for working with standard setters and regulators as well as delivering brand-defining thought leadership and educational materials. He also consults with engagement teams and audit clients on SEC reporting matters. Before PwC, Kyle spent almost 20 years with the SEC, most recently as Chief Accountant and Disclosure Program Director in the Division of Corporation Finance.Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com. Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

In the sixth episode of our GHG miniseries on the building blocks of greenhouse gas (GHG) emissions reporting, we conclude our discussion on step 4: measure greenhouse gas emissions with scope 3 emissions. Host Heather Horn is joined again by Marcin Olewinski, an Assurance partner, and Chris Ostermann, a director in PwC’s Sustainability Services Group, to provide an introduction to scope 3 emissions, including an overview of their 15 categories downstream and upstream as well as the complexities in measuring these emissions. They share practical advice for measuring these emissions, which often yield more challenges than scope 1 and scope 2.In this episode, we discuss:01:54 – Scope 3 emissions and their related upstream and downstream categories10:49 – Double counting scope 3 emissions and its impact on greenhouse gas emissions reporting15: 33 – The measurement requirements of scope 3 emissions, including ESRS and ISSB frameworks 25:01 – Where to start when gathering data for key assumptions in the measurement of scope 3 emissions35:09 – Time boundaries for applicable scope 3 categories38:53 – Deciding where to prioritize efforts on scope 3 measurement For more information on GHG emissions reporting, including scope 3 emissions discussed in today’s episode, check out Chapter 7: Greenhouse gas emissions reporting in PwC’s global Sustainability reporting guide. And to catch up on the GHG miniseries, listen to the first four episodes below.Talking GHG: Reporting requirements for greenhouse gas emissionsTalking GHG: How organizational boundaries shape reportingTalking GHG: Determining operational boundariesTalking GHG: Practical insights on measuring scope 1 emissionsTalking GHG: Practical insights on measuring scope 2 emissionsMarcin Olewinksi is a PwC Assurance practice partner, with over 20 years of experience bringing valued perspectives and insights to large clients in the energy sector. Additionally, he’s focused extensively within PwC’s National Office on greenhouse gas emissions and sustainability reporting and leads PwC’s global technical working group focused on GHG.Chris Ostermann is a director in PwC’s Sustainability Services Group working on sustainability and ESG matters with companies across multiple sectors. He focuses on helping clients understand their most significant sustainability/ESG impacts, develop strategies to address those impacts, execute those strategies and communicate progress to investors and other stakeholders.Heather Horn Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com. Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.