• Summary

  • 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.
    © 2021 PwC's accounting podcast
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Episodes
  • Forecast 2021: How to make hybrid work, work

    Jun 17 2021

    In our Forecast 2021 podcast series, we’re focused on 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 week’s episode, we build upon our summer 2020 conversation on the future of work and how CFOs can optimize a hybrid workforce model. Bhushan Sethi, PwC’s Joint Global People & Organization Leader, is back in the guest seat to provide insights on embracing a hybrid work environment.

    Topics include:

    • 1:05 - Phased return to work. Bhushan provides insight into the current landscape of the work environment, and tells us how organizations are thinking about culture, employee preferences, safety, location, and flexibility.
    • 10:41 - The hybrid finance function. We discuss how leaders are focusing on their employees’ well being and encouraging members of their finance function to learn new skills using technology and immersive tools. 
    • 18:01 - Maintaining and improving your culture. We discuss how companies are doing this well - by investing in workflow, technology, and online design thinking tools. 
    • 24:53 - CFOs taking action for the future. Bhushan encourages CFOs to think about how short-term investments in technology and real estate can impact long-term business goals. He suggests engaging cross-functional talent to support the hybrid work environment and focus on purpose, leadership, and planning.
    • 30:16 - Common pitfalls. Bhushan suggests that the pandemic has highlighted divisiveness in our society and encourages leaders to try to minimize that within their organizations, while engaging with their talent to foster their creativity. 
    • 32:32 - Equity and inclusion. We discuss how to have a strategy that is inclusive to all. We also hypothesize what hybrid work will look like in the future. 

    Want to learn more? Listen to our Podcast: What’s next? The future of work and how to get there and subscribe to PwC’s Workforce Inside podcast series 

    Bhushan Sethi is a joint global leader of PwC’s People & Organization group, where he shapes and drives the firm’s global network strategy, delivering standalone and integrated solutions across strategy, management, technology, and tax consulting disciplines. Bhushan is a thought leader, public speaker, media spokesperson, and influencer on "future of work,” risk culture, workforce strategy, employee experience, and diversity & inclusion.

    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, as well as periodic webcasts for the power and utilities industry. With nearly 30 years of experience, Heather’s accounting and auditing expertise includes financial instruments and rate-regulated accounting.

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    38 mins
  • Full disclosure: The statement of cash flows

    Jun 15 2021

    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 statement of cash flows and the common classification matters. Suzanne Stephani from our National Office is back in the guest seat to share helpful insights and key reminders with our host, Heather Horn.

    Topics include:

    • 1:14 - The basics. Suzanne sets the stage for today’s discussion with a refresher on the types of cash, cash equivalents and restricted cash to include in the statement of cash flows, and the related disclosures.
    • 7:02 - General classification model. Suzanne reminds us of what the direct and indirect methods are and breaks down the three cash flow buckets on this statement: operating, investing, and financing activities. She also highlights what investors are focused on.  
    • 12:15 - Gross versus net. We discuss the requirements to present investing or financing inflows and outflows as gross, and what the specific criteria is for when a net presentation is permissible. 
    • 15:10 - Noncash investing and financing. Suzanne highlights the required disclosures for noncash activities and provides helpful examples. 
    • 19:11 - Common classification issues. We go through a lightning round of questions on common classification issues such as insurance claim proceeds, noncontrolling interest cash flows, repayment of debt that was issued at a discount, payment-in-kind notes, debt extinguishment costs, and structured payables.
    • 29:20 - Close out. Suzanne gives us her final remarks and reminds us of the upcoming PwC Q2 Quarterly accounting webcast on emerging issues. 

    Want to learn more? Read Chapter 6: Statement of cash flows of our Financial statement presentation guide.

    And listen to our podcasts:

    Suzanne Stephani is a director in PwC’s National Office specializing in the application and interpretation of the accounting guidance related to financing transactions.

    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, as well as periodic webcasts for the power and utilities industry. With nearly 30 years of experience, Heather’s accounting and auditing expertise includes financial instruments and rate-regulated accounting.

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    32 mins
  • The quarter close - second quarter 2021

    Jun 15 2021

    In the second quarter of 2021, environmental, social, and governance--in particular, climate change--continues to be at the forefront. With Earth Day as the backdrop, President Biden announced new targets for reducing US greenhouse gas pollution. In May, President Biden issued an executive order calling for a wide range of actions to combat risks to the economy and financial system stemming from climate change. As Gary Gensler steps in to lead the SEC, ESG is expected to be one the agency’s priorities. We take a closer look at the SEC under Gensler’s leadership, including recent steps on the path toward new climate-change disclosures.

    It’s not just the Biden administration focused on climate change. More and more companies are making net zero or carbon reduction commitments, bringing increased focus to the related accounting and reporting implications. Our National Office specialists weigh in on “green” accounting and what companies should be thinking about.

    Leases also continue to be a hot topic as companies plan for a return to the office and consider making changes to their real estate strategies. This quarter we discuss frequently asked questions related to the accounting for subleases and leasehold improvements.

    On the standard-setting front, the FASB is poised to issue an invitation to comment on its future agenda. Will ESG make the short list? We take a sneak peek at some of the topics likely to be part of the discussion, along with a recap of other standard-setting developments.

    This edition of The quarter close highlights these and other relevant accounting and reporting topics you should consider as you close out the second quarter of the year.

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    32 mins

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