PwC's accounting podcast

How has the FASB addressed accounting concerns during the COVID-19 crisis? To help keep preparers well-informed, PwC director Maria Constantinou joins Heather Horn to discuss recently-issued FASB guidance regarding COVID-19 and other areas of standard setting.

Topics include:

• 2:01 - Effective date deferral. In the midst of the COVID-19 pandemic, the FASB understood that preparers needed help and, therefore, approved a deferral of the revenue and leases standards for some companies. Maria walks through the details.
• 8:42 - COVID-19 issues. Maria covers how the FASB has been working to address the accounting for the impacts of COVID-19, including the recently-issued FASB staff Q&A on hedge accounting.
• 15:02 - Other active projects. While the formal agenda prioritization project has not happened yet, there are other projects moving forward to be aware of. Maria shares the highlights.

Maria Constantinou is a director in PwC’s National office, responsible for monitoring the FASB’s standard-setting activities and is a frequent contributor to PwC's thought leadership efforts. She is also a Digital Accelerator, responsible for automating and enhancing knowledge sharing using the latest technology.

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 over 25 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 [email protected].

To help you prepare your year-end financial statements, listen to PwC partners Heather Horn, Ryan Spencer, and Kyle Moffatt give their observations from SEC comment letters made public in 2020. In addition to discussing top areas of interest—including COVID-19, revenue recognition, non-GAAP, MD&A, and segment reporting—they also provide a few best practices for responding to SEC comments.
Topics include:

• 0:46 - Overview. As former Chief Accountant and Disclosure Program Director in the SEC’s Division of CorpFin, Kyle shares his unique perspective on the SEC’s filing review program and all the parties involved.
• 10:27 - Overall trends. Ryan shares his observations with respect to the overall trends in SEC comment letters in 2020, including:
  • 13:16 - MD&A
  • 17:07 - COVID-19
  • 18:46 - Non-GAAP
  • 25:37 - Revenue recognition
  • 27:29 - Segment reporting
• 31:02 - Best practices. Before wrapping up, Ryan and Kyle provide a handful of best practices on the most effective way to respond to comment letters.

Ryan Spencer is a Partner at PwC's National Office specializing in SEC financial reporting. He has over 20 years of experience serving clients and is a frequent contributor to PwC’s publications and communications.

Kyle Moffatt is a partner in PwC's National Office where he consults with engagement teams and audit clients on SEC reporting matters. He joined PwC in April 2020 after spending almost 20 years with the SEC, most recently as Chief Accountant and Disclosure Program Director in the Division of Corporation Finance.

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 over 25 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 [email protected].

Technology continues to reshape our world and has been accelerated by the pandemic. As you rethink processes for the new environment, you may be asking how technology can help improve efficiency and effectiveness. This podcast is the next episode in the second season of our What’s next? podcast series for CFOs, controllers — anyone in finance. This season we’re focusing on what’s next in tech for the finance professional — discussing the benefits of technology through the lens of the finance function. In this episode, host Heather Horn sits down with Scott Likens, PwC’s New Services and Emerging Technology Leader, to discuss the range of business benefits blockchain technology offers.
Topics include:

• 0:54 - Overview. Blockchain is a somewhat new, complex technology. We begin with the fundamentals: what it is and how it works.
• 5:35 - How it’s being used today. As more finance functions begin to integrate blockchain, we look at how it’s being used to eliminate intermediaries, accelerate timelines, and increase transparency.
• 17:56 - Where to start. Knowing where to begin can be overwhelming. Scott shares his thoughts on starting small, repeatedly testing, and building internal knowledge around the values of blockchain technology.
• 22:25 - Challenges. We discuss the potential adoption barriers, such as privacy concerns, and emphasize the importance of collaboration and process controls.
• 25:50 - What’s next? As we continue to get more digital, what does tomorrow look like for blockchain applications? We close by sharing our thoughts.

Scott Likens is PwC’s New Services and Emerging Technology Leader helping clients in diverse industries use emerging technologies (artificial intelligence, blockchain, customer experience, and other digital strategies) to grow their business. For over 20 years, Scott has worked in enterprise technology, including digital strategy and transformation, technology-enhanced business and IT strategy, enterprise architecture as it relates to emerging tech, agile engineering, e-commerce, advanced analytics, mobile technologies, and social customer engagement.

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 over 25 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 [email protected].

Technology continues to reshape our world and has been accelerated by the pandemic. As you rethink processes for the new environment, you may be asking how technology can help improve efficiency and effectiveness. This podcast is the next episode in the second season of our What’s next? podcast series for CFOs, controllers — anyone in finance. This season we’re focusing on what’s next in tech for the finance professional — discussing the benefits of technology through the lens of the finance function. In this episode, host Heather Horn sits down with Paul Gaynor, leader of PwC’s Technology Consulting and Alliances businesses, and Scott Behrens, a PwC partner and information technology leader, to better understand the ways cloud-based business solutions are modernizing the workday.
Topics include:

• 1:00 - How businesses are using cloud technology. Whether it’s better analytics and the presentation of data, or having the ability to quickly develop new applications, we begin with an overview of how the cloud is transforming the way businesses run.
• 4:25 - Solving today’s problems. Every functional area within the business can leverage cloud capabilities to drive transformation and growth. We discuss how cloud technologies have evolved from being just a cost-saving play.
• 11:49 - Adopting a new way of working. As businesses move into the cloud, it’s important to manage this new investment. We discuss the behaviors and procedures organizations should have in place.
• 28:55 - The future of cloud technology. Cloud technology has given organizations the opportunity to rethink how to run their business—and that’s exciting. We close with a look at how the cloud will drive new products, business models, and a digitally-enabled workforce.

Paul Gaynor is the Global Technology and Alliance Consulting Leader with responsibility for setting PwC’s network Technology and Alliance Consulting vision and strategy. Previously, Paul led the US Technology Sector and Management Consulting capabilities for Technology, Information Communication and Entertainment, and Consumer, Industrial Products sectors. In addition, Paul served as the Global Relationship Partner for several Technology clients, and was team member in building PwC’s working capital and revenue assurance businesses.

Scott Behrens is a PwC partner with Strategy& and its Information Technology leader. With proven credentials in technology strategy and the alignment of IT strategies with associated business goals, Scott has extensive experience improving business performance through the design of new strategies and the creation of new capabilities and assets that support sustained value. Scott has significant experience in the analysis of process and technology architectures and in the quantification and direct capture of business benefits for the continued success of an organization.
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 over 25 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 [email protected].

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With year-end reporting around the corner, we kick off our 2023 SEC comment letter trends series, in which our guests bring you the latest themes in comment letters from the SEC’s Division of Corporation Finance.

This week, Heather Horn is joined by Kyle Moffatt, PwC National Office Professional Practice Leader, to share an overview of the 2023 comment letter trends, a breakdown of the SEC’s review process, and insights into the SEC staff’s key priorities.
In this episode, you’ll hear:

• 2:01 - A breakdown of the SEC review process, including the staff’s current priorities, review timing, and key enforcement actions
• 18:28 - The impact of a potential government shutdown on the SEC’s review process and on the capital markets more broadly
• 22:43 - An overview of the the top SEC comment letter trends in 2023
• 29:14 - Insights into changes in the SEC’s priorities and volume of comment letters, updates on the climate disclosure proposal, and 2024 enforcement priorities
• 34:11 - Key insights into what preparers should focus on, including the importance of “Dear Issuer” letters and reminders for new rules that are effective in 2024
• 39:13 - Final advice for preparers entering the year-end reporting season

Want to learn more? Check out our analysis of SEC comment letter trends. Additionally, follow PwC’s accounting podcast on your favorite podcast app for future episodes in this SEC comment letters series, and subscribe to our weekly newsletter to get all of our thought leadership.

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 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 [email protected].