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

  • Human capital disclosure trends in recent 10-K filings

    Human capital disclosure trends in recent 10-K filings

    06/04/2021 Duration: 30min

    With the SEC’s new human capital disclosure rules now effective, PwC looked at more than 2,000 Form 10-K filings to understand what companies disclosed. In this episode, Heather Horn sits down with PwC’s Sheri Wyatt and Brandon Yerre to look at what human capital disclosure trends we saw in this year’s reporting season. Topics include:0:49 - Background. We begin with a refresher on the SEC’s new human capital rules and the types of measures and objectives required. 2:30 - Analysis overview. Sheri walks through an overview of our analysis of the disclosures in recent 10-Ks.6:16 - Trends. Next, we summarize some of the human capital disclosure trends. 16:05 - SEC insights. We discuss feedback from the SEC staff on some early filers’ disclosures. 19:23 - Key focus areas. While there is no one-size-fits-all approach, there are important considerations to think through when deciding which disclosures to make. 23:24 - Where do we go from here? We share some insights on how human capital disclosure rules might evolv

  • First quarter rundown: Accounting and reporting reminders

    First quarter rundown: Accounting and reporting reminders

    01/04/2021 Duration: 49min

    As the first quarter of 2021 comes to a close, listen as host Heather Horn and a panel of PwC partners highlight what companies should be thinking about for their interim reporting.Topics include:0:47 - New accounting standards to consider. We begin with reminders of new guidance effective (or early adoptable) for calendar year-end public companies this quarter. 19:01 - Trends from the quarter. Next, we cover top consultation trends and areas of interest from the past quarter. Want more quarterly resources? Read our The quarter close — First quarter 2021 or watch our Q1 2021 Quarterly accounting webcast.Tom Barbieri is a Deputy Chief Accountant in PwC’s National Office and the financial instruments accounting leader. He has nearly 30 years of experience advising clients on complex accounting and financial reporting issues relating to financial instruments. During Tom’s tenure in the National Office, he has been at the forefront of emerging accounting issues and has regular interactions with the FASB, SEC, and

  • The FASB’s latest PCC goodwill alternative: What it means for you

    The FASB’s latest PCC goodwill alternative: What it means for you

    30/03/2021 Duration: 23min

    Covering the latest development in standard setting, this episode features the FASB’s latest ASU related to an alternative for goodwill triggering event evaluations available for adoption by private companies and not-for-profits. Host Heather Horn is joined by Beth Paul, a PwC National Office partner, and Tom (Sully) Sullivan, PwC’s private company services quality leader, to talk about what’s different about this alternative from the FASB’s private company council (PCC), key considerations companies should be aware of, and the timing of adoption.Topics include:0:41 - Background. We begin by discussing the scope of the current PCC goodwill alternative.Sully also takes us through some insights from the practice, including the sometimes overlooked complexities to adopting this alternative. 9:15 - Overview of new PCC goodwill triggering event alternative. We provide an overview of the new alternative and its intent.We also cover some important distinctions to be aware of, including how to think about “reporting

  • Forecast 2021: Developing an effective IT/OT cyber strategy

    Forecast 2021: Developing an effective IT/OT cyber strategy

    25/03/2021 Duration: 43min

    In our Forecast 2021 podcast series, we’re focused on preparing you for the year ahead by offering insights to help you better understand and manage some of the opportunities and challenges that your company might face—think policy, technology, and other big picture topics.Cyber risk is a top priority for businesses; and, considering every business can be vulnerable, targeted, and attacked, businesses are changing their cyber strategy and investing more. But, are those investments in the right areas? This week host Heather Horn sat down with Joseph Nocera, leader of PwC's Cyber & Privacy Innovation Institute, and Harshul Joshi, a PwC cybersecurity, privacy, and forensics principal, to understand cybersecurity risks and the leading practices for limiting exposure and recovering quickly. Topics include:0:59 - The hallmarks of good cybersecurity. Even the best can be breached, so what’s a company to do? We begin with the fundamentals of baking cybersecurity into every business decision and allocating cy

  • Accounting for income taxes in interim periods: back to basics

    Accounting for income taxes in interim periods: back to basics

    23/03/2021 Duration: 28min

    As we wrap up the first quarter of the new year, join host Heather Horn and PwC tax specialists, Jenn Spang and Kassie Bauman, as they discuss some of the key considerations and complexities in accounting for income taxes during interim periods.Topics include:0:51 - How it works. We begin with an overview of how to calculate a quarterly income tax provision, including how to estimate the annual effective tax rate (AETR). 7:39 - Ordinary income. What does ordinary income mean in the context of your interim tax provision? Jenn explains.10:21 - Discrete items. Kassie shares examples of what qualifies for treatment as a discrete item and the judgment involved. 16:51 - Exceptions and limitations. Kassie and Jenn discuss a few exceptions to using the worldwide estimated AETR.22:55 - Roll of the controller. Setting the AETR involves more than just the tax department—it is a cross-specialty process. We close by discussing the importance of engaging the right people from the beginning and working together to apply the

  • Forecast 2021: PwC’s Global Chairman on strategy and our CEO survey

    Forecast 2021: PwC’s Global Chairman on strategy and our CEO survey

    18/03/2021 Duration: 47min

    In our Forecast 2021 podcast series, we’re focused on preparing you for the year ahead by offering insights to help you better understand and manage some of the opportunities and challenges that your company might face—think policy, technology, and other big picture topics.PwC recently released the findings from its 24th Annual Global CEO Survey, so this week host Heather Horn sat down with Bob Moritz, PwC’s Global Chairman, to look at a few of the emerging trends from the report. But she didn’t let him off that easy - listen to hear Bob’s candid thoughts on strategy and leadership.Topics include:1:03 - Findings from PwC’s 24th annual CEO Survey. The robust amount of data rendered from PwC’s CEO Survey came from companies of all sizes across the globe and they had a lot to say. Heather and Bob hit on a handful of the highlights:2:07 - CEO optimism5:53 - Innovation11:04 - ESG14:05 - The reinvented workplace19:13 - Trade dynamics  24:25 - How to set—and execute—a strategy. By acknowledging the need for change,

  • The quarter close - first quarter 2021

    The quarter close - first quarter 2021

    16/03/2021 Duration: 34min

    2021 began with President Biden stepping into office and the Democratic Party effectively taking control of Congress, paving the way for expected changes to tax, trade, and regulatory policy. This quarter, we will share some of the changes that we foresee as a result of the new administration, and discuss some recent trends that seem to be continuing unabated. For example, the pace of corporate transactions continues to rise since the depth of the pandemic, and special purpose acquisition companies (SPACs) are continuing to generate a lot of traction both in their initial public offerings (IPO) and subsequent mergers with non-public entities.In addition, the start of a new reporting cycle usually means adopting various amendments from the FASB and this year is no different. Income tax simplification and equity investments are top of mind. Amendments to the SEC’s disclosure rules for business acquisitions and dispositions and changes to Regulation S-K disclosure requirements are effective this year as well, an

  • Forecast 2021: From ESG to SPACs, the new deals landscape

    Forecast 2021: From ESG to SPACs, the new deals landscape

    11/03/2021 Duration: 34min

    In our Forecast 2021 podcast series, we’re focused on preparing you for the year ahead by offering insights to help you better understand and manage some of the opportunities and challenges that your company might face—think policy, technology, and other big picture topics.This week host Heather Horn sits down with Chris Rhodes and Andreas Ohl, PwC partners who specialize in deals. We look at the drivers behind the busy deals market, and the trends reshaping the M&A space—from digital to ESG to— you guessed it, SPACs.Topics include:1:04 - Re-examining the buy vs. build question. Between today’s rapidly changing environment and the risk of missing a hot market, M&A has accelerated. We begin with an overview of the key trends.6:03 - Trend 1: tech-enabled agility. Digital deals are prevalent. We talk about some of the reasons and post-deal integration challenges, as well as the valuation reward of capturing scale.16:40 - Trend 2: ESG. We’re seeing a lot of opportunities in this market-driven movement. We

  • Change in estimate? Change in accounting principle? What it means

    Change in estimate? Change in accounting principle? What it means

    09/03/2021 Duration: 39min

    Distinguishing between a change in accounting principle and a change in estimate can be difficult, but the distinction is critical to applying the correct guidance. To help think through the accounting, host Heather Horn is joined by Pat Durbin and Tom Barbieri, Deputy Chief Accountants in PwC’s National Office. Topics include:0:41 - Background. We start with an overview of the different types of accounting changes and provide examples of each. 4:33 - Change in accounting principle. Pat walks through the steps that companies should take when changing an accounting principle, and how to navigate the preferability assessment. 18:03 - Accounting for changes in accounting principles. Once you’ve identified a change in principle, how is that reflected in the financial statements? Tom explains the two step process and shares thoughts on disclosures. 30:21 - Change in estimate. Changes in estimate frequently come up as a result of new information or modifications to estimating techniques. Pat hig

  • Forecast 2021: 6 operational changes to increase top line revenue

    Forecast 2021: 6 operational changes to increase top line revenue

    04/03/2021 Duration: 31min

    In our Forecast 2021 podcast series, we’re focused on preparing you for the year ahead by offering insights to help you better understand and manage some of the opportunities and challenges that your company might face—think policy, technology, and other big picture topics.This week host Heather Horn sits down with Roger Wery, PwC’s Global Consulting & Deals Leader for the technology, information, communications and entertainment industries, to talk about the six operational levers companies should pull concurrently to achieve revenue growth. A revenue command center can help.Topics include:0:52 - The time for growth is now. There is definitely a realization that growth needs to be central to a company’s agenda. We begin with an overview of an approach to boost revenue using a set of six growth initiatives. 5:10 - The operational levers to growth. Heather and Roger break down each of the six levers, all of which should be done concurrently, looking at how each is a sustainable source of growth and co

  • Variable consideration: How it impacts your top and bottom line

    Variable consideration: How it impacts your top and bottom line

    02/03/2021 Duration: 30min

    Variable consideration in revenue contracts is more common than you might think, and the accounting for it can require  a considerable amount of judgment. To help make sure you have the right revenue recognition, we’ve asked Angela Fergason, a partner in our National Office, to join host Heather Horn to walk through the guidance. Topics include: 0:47 - The many forms of variable consideration. We begin with an overview of variable consideration under the new revenue guidance and share some common examples of the common types of variable consideration in a revenue contract. 6:25 - Estimating variable consideration. We cover the two methods for estimating variable consideration at contract inception: the “expected value” method and the “most likely amount” method.9:36 - Constraint on variable consideration. An estimate of variable consideration is subject to a constraint. Listen as Angela breaks down what exactly this means.15:49 - Exceptions for estimating variable consideration upfront. Th

  • Forecast 2021: The “S” in ESG, spotlight on societal investments

    Forecast 2021: The “S” in ESG, spotlight on societal investments

    25/02/2021 Duration: 26min

    In our Forecast 2021 podcast series, we’re focused on preparing you for the year ahead by offering insights to help you better understand and manage some of the opportunities and challenges that your company might face—think policy, technology, and other big picture topics.This week, we conclude our deep dive into ESG by focusing on the “S,” or social, initiatives. Heather Horn sits down with Aaron Gilcreast, PwC’s Global Valuation Leader, and Andreas Ohl, a partner in PwC’s National Office, to look at how companies are rebalancing their strategy to address societal challenges and building measurement frameworks that help prioritize and report on these societal initiatives.Topics include:1:05 - Overview. We begin by highlighting a few big societal challenges—from globalization impacting supply chains to employee wellness and satisfaction—and how the companies that work to address these matters gain a competitive advantage in the marketplace.4:14 - Value creation vs. value destruction. To calculate ROI on soci

  • Bidding farewell to LIBOR: What you need to know

    Bidding farewell to LIBOR: What you need to know

    23/02/2021 Duration: 23min

    With the discontinuance of LIBOR in sight, there are things companies should be doing today to ensure a smooth transition. Host Heather Horn is joined by PwC partners Chip Currie and David Challen to discuss some of the business and accounting issues that need to be thought through prior to LIBOR going away. Topics include:1:01 - Background. We start with a refresher on the basics: what is LIBOR and why are we talking about it now? 4:54 - Timing. We discuss the estimated LIBOR transition timeline.6:24 - Act now. Chip discusses what companies should be doing today to prepare for the change.  8:33 - Replacement rates. David highlights key differences between LIBOR and possible replacement benchmark rates, such as SOFR.11:15 - Legacy LIBOR contracts. Lots of LIBOR references in legacy contracts? We talk you through next steps. 13:56 - Accounting issues. The accounting side of the LIBOR phase-out is complicated. Chip covers some of the accounting issues companies need to be thinking about now

  • Forecast 2021: The “E” in ESG, spotlight on achieving net zero

    Forecast 2021: The “E” in ESG, spotlight on achieving net zero

    18/02/2021 Duration: 35min

    In our Forecast 2021 podcast series, we’re focused on preparing you for the year ahead by offering insights to help you better understand and manage some of the opportunities and challenges that your company might face—think policy, technology, and other big picture topics. This week, we continue our deep dive into ESG with a talk on the “E,” the environment. As more companies are announcing their commitments to reach net zero emissions, Heather Horn sits down with Casey Herman, PwC’s US Power & Utilities leader, and Ron Kinghorn, PwC’s ESG platform leader, to zero-in on how companies are developing their net zero strategy. Topics include:1:05 - Timing is everything. While it is possible for companies to reach low carbon or zero carbon energy, the question is how long it will take. We begin by looking at the pace of technology and where different types of companies— producers, industrial users, and non-industrial users—are on the journey to net zero.7:57 - The role of regulation. Investors and c

  • Cryptocurrency? Digital asset? What’s the accounting?

    Cryptocurrency? Digital asset? What’s the accounting?

    16/02/2021 Duration: 32min

    As digital assets continue to make the headlines and push into the mainstream of finance, more questions are popping up on the accounting implications. In this episode, host Heather Horn and guests discuss the emerging asset class of cryptocurrencies and what it means for your financial statements.Topics include:0:29 - The cryptocurrency landscape: We begin with a brief introduction and explanation of the crypto markets and a look at what’s happening in the US from a regulatory standpoint.9:22 - Digital assets: We cover the different types of digital assets and what they are used for.12:04 - Picking a model: How do you determine the right accounting model to use for digital assets and what does that mean for impairment assessments? We look at:14:51 - The intangible asset model and how often to assess for impairment18:21 - How to measure fair value if your digital assets are impaired22:25 - Crypto custody: Sometimes companies use a custodian for the added security and safety of their digital assets. We discuss

  • Forecast 2021: The “G” in ESG, spotlight on governance

    Forecast 2021: The “G” in ESG, spotlight on governance

    11/02/2021 Duration: 33min

    In our Forecast 2021 podcast series, we’re focused on preparing you for the year ahead by offering insights to help you better understand and manage some of the opportunities and challenges that your company might face—think policy, technology, and other big picture topics. This week, we begin our deep dive into ESG with a talk on the “G,” governance. Heather Horn sits down with Stephen Parker, a partner in PwC’s Governance Insights Group, to focus on governance from the CFO’s perspective, including how management can make governance more efficient and effective, and what to include about governance in ESG reporting.Topics include:0:45 - The CFO’s objectives. We begin by looking at the CFOs role in making sure that a company’s governance is as effective as it can be.  7:01 - Agenda prioritization. From employee safety to cybersecurity, we look at the top current-day issues boards are dealing with. 11:02 - Filling the skills gap. Stephen shares his recommendations on where to start on board comp

  • Closing the investor expectations gap: What you need to know

    Closing the investor expectations gap: What you need to know

    09/02/2021 Duration: 24min

    Are you in the midst of year-end reporting? In our latest podcast, we help ground you by providing some helpful investor perspectives—what information are they looking for most from companies? How have their expectations changed? And, how does ESG factor into it all? Listen as host Heather Horn sits down with Gregory Johnson, a PwC director in our National Office who leads outreach to the investor and analyst communities, to discuss what information investors seek from the financial statements and beyond. Topics include:0:56 - Current environment. As the economic recovery progresses, investors are placing more focus on a company's resilience and how they are evolving their business operations.6:17 - ESG. Increased transparency continues to be in high demand from the investor community. We look at some of the recent developments that companies are focused on in this area and the different non-financial reporting frameworks.10:11 - D&I. Large institutional investors continue to raise the bar on expecta

  • Forecast 2021: What to expect from the new administration

    Forecast 2021: What to expect from the new administration

    04/02/2021 Duration: 37min

    In our Forecast 2021 podcast series, we’re focused on preparing you for the year ahead by offering insights to help you better understand and manage some of the opportunities and challenges that your company might face—think policy, technology, and other big picture topics. With the new administration hitting the ground running, host Heather Horn sat down with Roz Brooks, PwC’s US Public Policy Leader, to discuss what CFOs can expect this year.Topics include:0:52 - The senate. The Democratic party took control of the Senate, but what does that control really mean? We discuss how that might impact policy initiatives.  9:28 - The first 100 days. Disclosures are going to be high on the new administration's priority list, especially those related to priorities like climate. Roz explains.20:21 - Tax policy. Roz and Heather turn their attention to what to possibly expect on the topic of taxes. 23:44 - The SEC. There’s going to be a new chair for the SEC. We share thoughts on what we expect to see on the S

  • Got EPS questions? Weve got answers

    Got EPS questions? We've got answers

    03/02/2021 Duration: 33min

    2020 has brought us a global pandemic, an election, and adoption of some major new accounting standards. So what does it all mean for your EPS calculations? In this episode, John Horan, a PwC managing director in our national office, joins host Heather Horn to discuss some important EPS reminders for companies to think about for their year-end reporting. Topics include: 0:45 - Basic EPS: 2:13 - Participating securities—John describes what they are and why you may need to consider them in your EPS calculations.11:53 - Mezzanine securities—John walks through how having securities classified here impacts  EPS.16:58 - Diluted EPS:18:45 - Settlements in cash or shares—how it settles makes a difference to EPS - we give examples on each.23:08 - Liability classified warrants—warrants classified as liabilities can be dilutive to EPS - even in periods of loss.26:09 - New convertible debt standard—how does the new FASB standard on liabilities and equity change the presumption of share settlement? Joh

  • Forecast 2021: Practical ideas to turn purpose into action

    Forecast 2021: Practical ideas to turn purpose into action

    28/01/2021 Duration: 36min

    In our Forecast 2021 podcast series, we’re focused on preparing you for the year ahead by offering insights to help you better understand and manage some of the opportunities and challenges that your company might face—think policy, technology, and other big picture topics. In this episode, host Heather Horn sits down with PwC’s Shannon Schuyler, US Chief Purpose & Inclusion Officer, and Jeff Senne, US Responsible Business Leader, to look at how discovering your company’s purpose—or “why”—drives business growth, elevate employees, and benefits communities, and we all have a role to play, especially the finance team.Topics include:0:59 - Finding your purpose. There is power in defining your purpose. We begin by looking at the importance of defining the bigger reason behind the work you do (the why), not only what you do. We also explore the trend toward building a broader stakeholder community.6:44 - Standing on the sidelines is over. Companies don’t need to get everything right the first time, but they do

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