Pwc's Cfodirect Podcast

In each episode of our 2023 SEC comment letter trends series, our guests bring you the latest themes in comment letters from the SEC’s Division of Corporation Finance.This week, host Heather Horn sat down with PwC National Office partner Mike Coleman to discuss common issues noted in the SEC staff’s comments on revenue, and why it consistently remains a top area of focus.In this episode, you’ll hear:2:03 - An overview of comment letter themes related to revenue and a discussion of the prominence of revenue in financial reporting6:53 - Key considerations in determining performance obligations and the significance of judgments made14:19 - Insights on the continued focus on revenue estimates, including challenges related to recognizing variable consideration and determining standalone selling prices when estimates are embedded in transaction prices20:46 - Common pitfalls with revenue disclosures27:26 - Important reminders on principal-versus-agent considerations30:54 - Sector-specific insights and trends and the