Pwc's Cfodirect Podcast

To close out our four-part Back to basics discussion on consolidation accounting, we turn to presentation and disclosure. In this episode, we discuss how consolidated entities are reflected in the financial statements, the disclosure requirements for both variable interest entities (VIEs) and voting interest entities (VOEs), and what a company may need to disclose when it holds an interest in a VIE but does not consolidate it.Key topics and timestamps2:28 – The purpose of consolidated financial statements and the guiding frameworks6:20 – General consolidation presentation and disclosure principles8:28 – Principles and objectives for the presentation and disclosure of variable interests in VIEs, including from the perspective of: 12:51 – A holder of variable interests in a VIE, regardless of primary beneficiary status14:51 – A primary beneficiary of a VIE16:47 – An entity with variable interests in VIEs for which it is not the primary beneficiary21:05 – Presentation and disclosure for VOEsAdditional resourcesT

We’re continuing our refresher series on consolidation accounting. In this episode, learn how to determine which party, if any, should consolidate a variable interest entity (VIE). We explore key considerations for identifying a VIE’s primary beneficiary, including assessing power over the entity’s most significant activities, evaluating economic exposure, and considering related-party interests.This episode is part of our new Back to basics series, where throughout the year, we’ll revisit core accounting topics. It is the third of four episodes on consolidation. In our first episode, Back to basics: Consolidation—Getting started, we laid the foundation for consolidation accounting. In the second episode, Back to basics: Consolidation-Identifying a VIE, we took a deeper look at how to determine whether an entity is a VIE. Stay tuned for our fourth and final episode on consolidation presentation and disclosure considerations.Looking for more guidance on consolidation accounting? See PwC’s Consolidation guide.

Get a refresher on consolidation accounting with a deeper look at how to determine whether an entity is a variable interest entity (VIE). We cover key considerations, including understanding the entity’s purpose and design, identifying variable interests and equity at risk, and evaluating the characteristics used to determine whether an entity is a VIE.This episode is part of our new Back to basics series, where throughout the year, we’ll revisit core accounting topics. It is the second of four episodes on consolidation. In our first episode, Back to basics: Consolidation—Getting started, we laid the foundation for consolidation accounting. Stay tuned for upcoming episodes covering how to determine which party, if any, should consolidate a VIE, followed by an episode on presentation and disclosure considerations.Looking for more guidance on consolidation accounting? See PwC’s Consolidation guide. Additionally, follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to stay in t

Get a refresher on consolidation accounting, including an overview of the consolidation framework, the variable interest entity (VIE) and voting interest entity (VOE) models, and key scope considerations. This episode is part of our new Back to Basics series that revisits core accounting topics.This episode lays the foundation for our next three Back to basics episodes on consolidation. We’ll take a deeper look at identifying a VIE, determining which party, if any, should consolidate it, and consolidation presentation and disclosure. Stay tuned as the remaining episodes are released over the next two weeks.Looking for more guidance on consolidation accounting? See PwC’s Consolidation guide. Additionally, follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to stay in the loop.About our guestsMatt Sabatini is a deputy chief accountant in PwC's National Office who helps clients and engagement teams navigate the accounting and financial reporting for complex transactions.

Environmental credits accounting is changing with the introduction of ASC 818. New FASB guidance establishes a consistent accounting model for environmental credits and related obligations, addressing recognition, measurement, presentation, and disclosure. This episode explores key aspects of the new standard, ASC 818, including the intent-based recognition model, accounting for voluntary versus compliance credits, environmental credit obligations, and considerations for adoption.For more, see our publication Environmental credits accounting: FASB issues new standard and chapter 7 of PwC’s Property, plant, equipment and other assets guide.Follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to stay in the loop.About our guestsMichael Pratt is a partner in PwC's National Office, working on sustainability methodology and thought leadership. His background is in the power and utility sector where he works with companies helping to shape the evolution of how we produce and

GHG Protocol updates are reshaping the outlook for GHG reporting, including a move toward a consolidated corporate standard, with an exposure draft expected in 2027 and a final standard planned for 2028. This episode covers the updated roadmap and developments related to scope 2, scope 3, book-and-claim market instruments, the Land Sector and Removals Standard, and California SB 253, as well as steps companies can take now as these requirements and proposals continue to evolve.For more on GHG emissions reporting, see chapter 7 of our Sustainability reporting guide and the GHG Protocol’s GHG Protocol Corporate Suite of Standards and Guidance Update Process for the latest proposals and working group materials. For more information on California’s SB 253, see our publication, California SB 253—CARB rulemaking for 2027 and beyond.Looking for the latest developments in sustainability reporting? Follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to stay in the loop.About our gue

New cybersecurity audit requirements under the California Consumer Privacy Act (CCPA) establish a recurring, independent assessment of certain organizations’ cybersecurity programs, with the first audit period beginning January 1, 2027. We discuss which organizations may be subject to the requirements, key considerations on audit scope and independence, and how existing cybersecurity, risk, and assurance activities can support readiness.For more on California’s cybersecurity audit requirements, see our publication Privacy becomes a cybersecurity imperative under California’s audit rule.Follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to stay informed.About our guestsMark Cornish is a partner at PwC who provides assurance and consulting services to global and regional clients within the financial services industry. He is recognized for his experience in complex third-party assurance reporting, internal controls, and risk and compliance matters. His areas of expertise incl

Certain non-EU groups may not be in scope of ESRS but will need to comply with new EU reporting standards that are under development now (draft ESRS-40a). Reporting will begin with financial year 2028 for reporting in 2029. This episode examines the proposed scope and reporting choices in the draft 40a standards, including the focus on material impacts and the option to limit certain disclosures to EU-related impacts. We also share insights on steps companies can take now as the standards are being developed.For more on the proposed EFRS-40a standards, see our publication ESRS-40a—EFRAG proposes standards for non-EU groups.Looking for the latest developments in sustainability reporting? Follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to stay in the loop.About our guestDiana Stoltzfus is a partner in PwC’s National Office who helps to shape PwC’s perspectives on regulatory matters, responses to rulemakings and policy development, and implementation related to significant

The revised European Sustainability Reporting Standards (ESRS (2026)) introduce significant revisions, simplifications, clarifications, and new reporting reliefs for companies reporting—or preparing to report—under the CSRD. This episode discusses the European Commission’s July 2026 revisions, including changes to the materiality assessment, more flexibility to entities in relation to GHG emissions reporting, anticipated financial effects, and phase-in provisions. It also explains the reporting choices and reliefs available.For more on the revised ESRS, see our publication ESRS (2026)—a deep dive into the revised standards.Looking for the latest developments in sustainability reporting? Follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to stay in the loop.About our guestsKatie Woods is a senior director in PwC's Global Corporate Reporting Services - Sustainability group advising on sustainability and international accounting standards. Katie specializes in the new an

SEC reporting and regulatory developments continue to move quickly. Proposals addressing semiannual reporting, filer status, and registered offerings could significantly affect public company reporting, internal control requirements, and capital-raising transactions, with further SEC rulemaking still expected. We provide an overview of these developments and where they stand, including investor and preparer reactions. We also examine current SEC staff comment letter trends arising from filing reviews.For a deeper dive into the SEC’s semiannual reporting proposal, listen to our previous podcast episode, SEC semiannual reporting proposal: Cutting quarters, not corners, or read our publication, SEC proposes optional semiannual reporting framework. For more information on other SEC rulemaking discussed in this episode, see SEC proposes major filer status overhaul and SEC registered offering reform: capital raising impacts.Follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to s

Convertible debt can offer an issuer a lower-cost financing alternative, but the accounting can be complex depending on the instrument’s terms, settlement features, and related transactions. This episode discusses the key accounting models for convertible debt, including bifurcation under ASC 815, the own stock scope exception, substantial premium model, single instrument model, related features such as capped calls and contingent interest, and diluted EPS considerations.  For further guidance on the accounting for this topic, see chapter 6 of PwC’s Financing transactions guide.   This is the final episode in our debt-related miniseries. In case you missed any, listen to our previous episodes: Debt restructuring: Accounting for borrowers Beyond debt: Accounting for other liability-classified arrangements Current or noncurrent? Getting debt classification right  Follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to stay in the loop.  About our guests  Bret Dooley is a PwC N

Debt restructuring accounting remains top of mind for borrowers as companies refinance debt that may have been issued in a very different interest rate environment. This episode discusses the accounting models for debt restructurings, including lender-by-lender assessments, modification versus extinguishment outcomes, troubled debt restructurings, fee allocations, and syndicated debt transactions. We break down the key considerations and share insights on navigating common challenges in applying ASC 470 guidance.For further guidance on the accounting for this topic, see chapter 3 of PwC’s Financing transactions guide. For cash flow presentation, see section 6.8 and for debt presentation and disclosure, see chapter 12 of PwC’s Financial statement presentation guide. This episode is part of our debt-related miniseries. Stay tuned for our final episode next week, and in case you missed them, listen to our previous episodes:Beyond debt: Accounting for other liability-classified arrangementsCurrent or noncurrent?

Liability classification under US GAAP extends well beyond traditional loans and bonds. In this episode, we discuss common arrangements that may be accounted for as liabilities, including preferred stock, warrants, noncontrolling interests, failed sale transactions, sales of future revenue, and supplier finance programs. We cover liability classification, measurement, and other accounting implications.For further guidance on this topic, see our Financing transactions guide.This episode is the second in our debt-related miniseries, so stay tuned for more. In case you missed it, check out our first episode, Current or noncurrent? Getting debt classification right.Follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to stay in the loop for the latest thought leadership on sustainability standards. About our guestsBret 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

Debt classification can significantly affect liquidity metrics, covenant compliance, and how stakeholders view a company’s financial position. This episode discusses the accounting guidance for classifying debt as current or noncurrent, including key judgments related to covenant violations, subjective acceleration clauses, refinancing arrangements, revolving credit facilities, and going concern.For more, see chapter 12 of our Financial statement presentation guide.Follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to stay in the loop for the latest thought leadership on sustainability standards. About our guestsSuzanne Stephani is a director in PwC’s National Office specializing in the statement of cash flows as well as the application and interpretation of the accounting guidance related to financing, leasing, and foreign currency transactions.Christopher Gerdau is a partner in PwC’s National Office specializing in accounting for financial instruments and banking-related

The FASB’s disaggregation of income statement expenses (DISE) guidance requires public business entities to provide significantly more detail about key income statement expense captions beginning in 2027. This episode covers what the new disclosure requirements mean, why implementation may be more complex than expected, and how companies can start preparing their data, systems, processes, controls, and judgments now.For more on this topic read section 3.11 of PwC’s Financial statement presentation guide and our publication, FASB issues new disaggregated expense disclosure requirements (DISE).Follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to stay in the loop for the latest thought leadership on sustainability standards. About our guestsAngela Fergason is a partner in PwC’s National Office. She is an experienced consultant on technical accounting and financial reporting matters, specializing in revenue recognition, employee compensation, and emerging issues impacting the

FASB standard setting activity continues full steam ahead in 2026, with projects focused on crypto assets, hedge accounting, liability-versus-equity classification, the statement of cash flows, and other key accounting topics. While the pace of new accounting standards may appear quieter than in recent years, the Board has been actively evaluating stakeholder feedback from its agenda consultation process and advancing projects that could lead to significant future accounting updates. This episode discusses the key themes emerging from that feedback, recent agenda decisions, and other developments companies should monitor.Follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to stay in the loop for the latest thought leadership on sustainability standards. About our guestBrandon Browne is a FASB Practice Fellow focusing primarily on standard setting matters affecting the financial services industry including hedging, current expected credit losses, paid-in-kind dividends, comm

In a complex business environment, governance extends well beyond the boardroom. This episode explores how finance leaders can help connect information, risk, strategy, and oversight to support effective decision-making and organizational resilience. Along the way, we discuss practical insights from COSO's corporate governance framework and considerations for building governance structures that are intentional, connected, and fit for purpose.  For more information, see COSO’s Corporate Governance: Guiding Principles for Board Oversight, a publication developed in collaboration with PwC.  Follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to stay in the loop for the latest thought leadership on sustainability standards.  About our guests  Matt DiGuiseppe is a managing director in PwC’s Governance Insights Center, which helps stakeholders navigate the evolving governance landscape. Matt has participated in numerous industry groups and was the founding chairperson of the

A video of this podcast is available on YouTube, Spotify, or PwC’s website at viewpoint.pwc.com.The GHG Protocol continues to evolve as companies prepare for expanding climate reporting requirements under the California SB 253 law, ESRS, and ISSB standards. In this episode, we discuss the Scope 2 consultation, the Land Sector and Removals Guidance, and the new Actions and Market Instruments Request for Feedback and White Paper, along with related implementation and reporting challenges.For more information, see our In brief, GHG Protocol publishes Land Sector and Removals Standard. Looking for the latest developments in sustainability reporting? Follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to stay in the loop for the latest thought leadership on sustainability standards.About our guestsColin Powell is PwC Canada’s Technical Net Zero Leader. His work focuses on GHG quantification, life cycle assessment across many impact categories, GHG target setting, and developing

A video of this podcast is available on YouTube, Spotify, or PwC’s website at viewpoint.pwc.com.The SEC’s proposal to allow optional semiannual reporting could significantly reshape public company reporting obligations and investor communications. SEC Division of Corporation Finance Director Jim Moloney joins the podcast to discuss what the proposal would change, why the SEC is considering the shift now, and the potential implications for companies, investors, and the public markets. For more on the SEC’s proposal, read our In brief, SEC proposes optional semiannual reporting framework. Hear more from Jim Moloney on the Material Matters podcast episode, Director Jim Moloney: Let the Free Markets be Free, where he discusses the future of SEC disclosure rules, public company reporting requirements, and the growing need to modernize decades-old regulatory frameworks. About our guests  Jim Moloney is the Director of the Division of Corporation Finance at the U.S. Securities and Exchange Commission. Before returni

A video of this podcast is available on YouTube, Spotify, or PwC’s website at viewpoint.pwc.com.Reporting in accordance with the IFRS® Sustainability Disclosure Standards issued by the International Sustainability Standards Board (ISSB) continues to evolve as financial institutions navigate implementation challenges related to materiality, anticipated financial impacts, and data quality. In this episode, we share findings from our recent survey with the Institute of International Finance (IIF) of 24 global financial institutions on how firms are adopting the ISSB disclosure standards and discuss practical implementation insights with sustainability leaders from J.P. Morgan Chase and Citi.  For more information on the ISSB standards, see our publications: ISSB takes hold: Six key insights from the PwC-IIF financial institutions surveyISSB continues enhancing SASB Standards with proposed amendments to three additional standards and IFRS S2 industry-based guidance Looking for the latest developments in sustainab