PwC's accounting podcast

As we approach the end of 2023’s first quarter, we wanted to take time today to zoom out to the broader business environment that finance organizations are navigating. Between a tightening money supply, inflation, and ongoing demands from investors and stakeholders to grow in a sustainable way – we wanted to ask, how are companies managing it all? What are their near term and long-term priorities, and how are these changing in the current environment?Heather Horn was joined by Wes Bricker, PwC’s Vice Chair and Trust Solutions Co-Leader, to discuss these questions and more based on his business leadership within PwC and extensive client experience.In this episode, you will hear:2:11 - The three areas of uncertainty that businesses are navigating in 202311:14 - The imperative companies face to reinvent their business models for long-term survival18:53 - How companies are integrating climate, human capital, and other ESG topics into their reinvention strategies29:26 - How the principles of candor, truth-telling, and humility instill trust in companies’ near-term and long-term goals37:20 - The importance of going beyond “check-the-box” compliance in reporting by presenting a coherent strategy and vision for the business44:40 - How the voice of the CFO organization is supporting companies in earning trustWant to hear more perspectives from our latest Global CEO survey? Check out our summary of the survey results.Wes Bricker is PwC’s Vice Chair and Trust Solutions Co-Leader for the US and Mexico. In this role he oversees the largest Trust platform in the world, bringing together the firm’s combined Audit, ESG, Digital Assurance, and Tax Reporting capabilities to best help clients as they seek to build trust with their stakeholders. As co-leader, Wes is responsible for the quality of service, excellence in the work performed by over 21,000 partners and staff, developing diverse teams, and driving innovation.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 us_podcast@pwc.com.

In the first quarter 2023 edition of The quarter close, we highlight newly effective standards for 2023, featuring new required disclosures for supplier finance programs. We also take a closer look at the accounting and reporting implications of changes to reportable segments. Lastly, we provide the latest updates on ESG reporting proposals and the FASB’s standard-setting projects. Read or listen to The quarter close for these and other relevant accounting and reporting topics you should consider as you close out the first quarter of 2023.Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com.

Every Tuesday in March, Suzanne Stephani, is taking over the podcast to bring you the latest on different types of financing arrangements - from debt to leases to supplier financings - including how the current macroeconomic environment impacts the accounting. In this episode, Heather Horn and Suzanne will discuss the impact of the current macroeconomic environment on the classification of debt as current or noncurrent.In this episode, you’ll hear discussion of:4:44 - Key judgments in assessing the impact of covenant violations when there are grace periods and waivers13:40 - What to think about when debt is modified in advance of a covenant violation17:12 - The importance of identifying cross default and cross acceleration clauses in debt agreements20:08 - What you need to know about subjective acceleration clauses (SACs), especially in the current economic environment  25:38 - Frequent debt refinancing questions and how SACs within refinancing agreements impact the ability to use them to achieve noncurrent classification For more information, listen to our previous podcast on the presentation and disclosure of debt, and stayed tuned for our next podcast in this miniseries, on debt restructuring. Also read our Financial statement presentation guide and frequently asked questions on accounting in uncertain times. Suzanne 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 and leasing 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. 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 us_podcast@pwc.com.

GHG Protocol is one of the most widely known and applied sustainability reporting frameworks. Even as ESG reporting continues to increase in prominence with proposed disclosures from the European Union as part of the Corporate Sustainability Reporting Directive (CSRD), internationally by the International Sustainability Standards Board (ISSB), and in the United States by the Securities and Exchange Commission (SEC), the criticality of GHG Protocol is reinforced by its incorporation in each of these “big three” proposals.In light of this changing landscape, the GHG Protocol has undertaken a process to survey stakeholders and determine what updates are needed to its protocol, standards, and guidance. Heather Horn was joined by Marcin Olewinski, a PwC Trust Solutions partner, to unpack the key points of feedback contained in PwC’s comment letter on the GHG Protocol’s open consultation. Heather and Marcin both led PwC’s global working group on developing our comments.In this episode, you’ll hear discussion of:1:58 - The importance of governance of the GHG Protocol for long-term operability10:38 - Our view that measurement, recognition, and baseline disclosures should form the building blocks of the standards16:40 - Suggestions for structuring and organizing the standards for ease of use19:17 - Dealing with disparities in data quality and availability through transparent disclosures23:51 - The importance of aligning organizational boundaries, lease accounting, and other areas in the Protocol with financial reporting32:21 - Recommendations to improve Scope 2 reporting39:57 - Final perspectives on aligning GHG reporting with financial reportingInterested in the contents of our comment letter to the GHG protocol? Read it here.Marcin Olewinski is a partner in PwC’s Trust Solutions practice, with over 20 years of experience bringing valued perspectives and insights to large clients in the energy sector. Additionally, he’s focused extensively within PwC’s National Office on greenhouse gas and sustainability reporting.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 us_podcast@pwc.com.

Every Tuesday in March, Suzanne Stephani is taking over the podcast to bring you the latest on different types of financing arrangements—from debt to leases to supplier finance programs—including how the current macroeconomic environment may impact the accounting. In this episode, Heather Horn and Suzanne are joined by Bret Dooley, a PwC partner who leads our team advising clients on the accounting for financial instruments. Suzanne and Bret explain what supplier finance programs are, share insights on assessing the balance sheet classification, and break down the new disclosure requirements from the FASB that are now (generally) effective for calendar year-end companies.  In this episode, you’ll hear discussion of:2:32 - The broad range of supplier finance programs that exist in the market and why companies enter into them12:12 - Why classification on the balance sheet as either a trade payable or debt matters15:19 - Indicators commonly used in practice to assess classification and key judgments to consider 32:42 - What’s required to be disclosed under the FASB’s new guidance and when38:58 - Final advice on thinking through the accounting and reporting for these programs For more information on the accounting and disclosure of supplier finance programs, check out our Financial statement presentation guide. Suzanne 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 and leasing transactions.Bret Dooley is a Deputy Chief Accountant in PwC’s National Office and the financial instruments accounting leader. He has over 25 years of experience specializing in the financial services, banking, and capital markets industries. Bret focuses on emerging financial reporting issues relating to financial instruments, developing interpretive guidance, and assisting clients in resolving complex accounting matters.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 us_podcast@pwc.com.

After 2022 brought proposed ESG disclosures from the EU as part of the Corporate Sustainability Reporting Directive (CSRD), internationally by the International Sustainability Standards Board (ISSB), and in the US by the Securities and Exchange Commission (SEC), many companies began in earnest to mock up potential disclosures, understand gaps in information quality and availability, and establish work plans for creating consistent, reliable reporting. This month marks one year since the SEC’s proposal was released, and we wanted to ask – how have companies been preparing over the past year, and what should they be doing for the next year as we move toward mandatory ESG reporting in many jurisdictions? Heather Horn was joined by Brigham McNaughton, a PwC ESG Services & Strategy partner, to unpack these questions and provide the latest updates on what companies can do now to be prepared for upcoming requirements.In this episode, you’ll hear discussion of:1:54 - Where companies have focused their readiness efforts over the last twelve months8:09 - Dealing with estimation in greenhouse gas reporting14:28 - Disclosure controls and the importance of cross-functional teams21:31 - How companies are re-evaluating their governance, strategy, risks, targets, and goals as they prepare for the new disclosure requirements31:06 - Preparing for mandatory ESG reporting requirements in the European Union under the CSRD36:59 - How companies can work to build mature processes for reportingLooking for more information on getting ready for mandatory ESG reporting? Check out our publication, Preparing for tomorrow's rules today.Brigham McNaughton is a partner in PwC’s ESG practice. He has served global clients in a range of industries including utilities, automotive, and financial services, advising on core ESG strategy development and stakeholder engagement. Brigham has also worked closely with the Sustainability Accounting Standards Board on a variety of reporting initiatives.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 us_podcast@pwc.com.

Every Tuesday in March, Suzanne Stephani, is taking over the podcast to bring you the latest on different types of financing arrangements - from debt to leases to supplier financings - including how the current macroeconomic environment impacts the accounting. To kick off the series, Heather Horn and Suzanne are joined by Marc Jerusalem, a PwC managing director who also specializes in leasing, to discuss how the current macroeconomic environment impacts the accounting for leases.In this episode, you’ll hear discussion of:2:23 - Recent FASB standard setting on leases between entities that are under common control 7:38 - How rising interest rates may make it more challenging to use an existing borrowing rate to measure a lease14:21 - Remeasurement events that may occur more frequently during times of economic uncertainty and what assumptions may need to be updated as a result of them20:37 - Impairment of right-of-use asset considerations when a company decides to sublease or abandon a leased space31:37 - Frequent questions on the classification of lease activity in the statement of cash flows For more information, listen to our other podcasts in PwC’s Leasing Toolkit series and read our publication on frequently asked questions on accounting in uncertain times. Suzanne 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 and leasing transactions.Marc Jerusalem is a managing director in PwC’s National Office specializing in leasing. Marc consults with clients on complex lease accounting issues and is a frequent contributor to many related PwC National Office publications.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 us_podcast@pwc.com.

Every Tuesday in February, Andreas Ohl, PwC’s Global ESG Technical Leader, took over the podcast and talked all about one of a company’s most valuable intangible assets, human capital. He discussed what it is and why it matters, how it’s treated in financial and ESG reporting, and how its value is reflected in deals. In this final episode of the miniseries, Heather Horn and Andreas are joined by Carrie Duarte, a PwC workforce transformation specialist, to discuss how sophisticated acquirers are creating value through human capital in transactions. They also share insights on how investing in the workforce may create both social value creation (which is the “S” in ESG) and financial value creation. In this episode, you’ll hear discussion of:6:30 - Trends in the deals market that are driving outsized returns14:21 - Practical and tactical examples of opportunities identified through deals to create value through the workforce23:37 - The importance of providing a “good job” and managing the investment in the workforce31:37 - How reflecting the voice of the worker in the company’s labor management strategy creates social and financial value creation Listen to earlier episodes in this series on the impact of recent demographic trends on the investment in human capital, how a company’s largest asset may not be on balance sheet, and on communicating value through ESG reporting. Andreas Ohl is a partner in PwC's National Office focused on thought leadership, standard setting, and mergers and acquisitions under US GAAP and IFRS. In addition to his US responsibilities, he leads the sustainability topic team for the PwC global network. Andreas is chairman of the Business Valuation Standards Board at the International Valuation Standards Council, is a member of the working group that authored the AICPA's in-process R&D guide, and has served as a member of the FASB's Valuation Resource Group.Carrie Duarte is a partner leading PwC's Organization and Workforce Transformation Deals team. Carrie helps CEOs take advantage of the catalyzing event of a transaction to transform their organizations and workforces. 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 us_podcast@pwc.com.

Billed as the largest climate legislation in US history, the Inflation Reduction Act (IRA) includes tax credits, incentives, and other provisions intended to help companies tackle climate change, increase investments in renewable energy, and enhance energy efficiency.What are the most common ways that companies are planning to take advantage of the Act? What provisions does the Act have that might benefit companies that are not in the energy industry? Heather Horn was joined by Matt Haskins, PwC principal, to unpack these questions and provide the latest updates on the IRS’ guidance process.In this episode, you’ll hear discussion of:2:45 - The IRA’s key ESG-related provisions5:35 - Updates on IRS guidance on the IRA14:05 - Manufacturing investment tax credits and the application process22:15 - Areas to consider to navigate the IRA effectively26:40 - How new methods of data modeling allow companies to assess when they may qualify for incentives32:25 - How the market is contemplating transactions for direct pay and transferable tax creditsLooking for more information on the Inflation Reduction Act? Check out our previous podcast on ESG incentives in the Inflation Reduction Act.Matt Haskins is a principal in PwC’s Washington National Tax Services, where he leads the firm's Cleantech tax practice, focusing on renewable energy financing and M&A transactions. In addition to writing and speaking on issues in the renewable energy industry, Matt has co-chaired the energy and environmental taxes working group for the US Council on International Business and served as a delegate for key energy initiatives of the Organization for Economic Cooperation and Development.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 us_podcast@pwc.com.

Every Tuesday in February, Andreas Ohl, PwC’s Global ESG Technical Leader, will be taking over the podcast and talking all about one of a company’s most valuable intangible assets, human capital. He will discuss what it is and why it matters, how it’s treated in financial and ESG reporting, and how its value is reflected in deals. In this episode, Heather Horn and Andreas are joined by Sheri Wyatt, a PwC sustainability specialist, to discuss how we are seeing companies communicate the value of human capital through ESG reporting. In this episode, you’ll hear discussion of:7:24 - Best practices in ESG reporting today  11:49 - The importance of using metrics that are tied to value creation in ESG reporting on human capital18:16 - How ESG reporting may bridge the gap in financial reporting (because this investment may not be on balance sheet) 23:32 - Insights on human capital disclosures reported under the SEC’s current rule28:30 - Expectations on the future of human capital reporting considering proposals from the ISSB and EFRAG (CSRD) and the expected proposal from the SEC39:15 - Challenges and opportunities for companies in communicating the value of their workforceListen to earlier episodes in this series on the impact of recent demographic trends on the investment in human capital and how a company’s largest asset may not be on balance sheet. And stay tuned for one more episode in the series. Andreas Ohl is a partner in PwC's National Office focused on thought leadership, standard setting, and mergers and acquisitions under US GAAP and IFRS. In addition to his US responsibilities, he leads the sustainability topic team for the PwC global network. Andreas is chairman of the Business Valuation Standards Board at the International Valuation Standards Council, is a member of the working group that authored the AICPA's in-process R&D guide, and has served as a member of the FASB's Valuation Resource Group.Sheri Wyatt is a partner in PwC’s Deals practice and a sustainability specialist who helps clients execute on their ESG reporting strategies, including how to navigate the evolving regulatory landscape both in the US and abroad. She has over 20 years of experience advising companies on the adoption of new accounting and financial reporting standards, from assessing current state through operationalizing compliance with new standards and policies.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 us_podcast@pwc.com.

At the recent annual meeting of the World Economic Forum (WEF) in Davos, PwC and the WEF jointly released a report about critical moves businesses can take to prepare for risks and take advantage of opportunities in climate change adaptation (the process of preparing for, preventing, and mitigating the worst impacts of climate change).Heather Horn was joined by Emma Cox, PwC’s Global Climate Leader, to discuss some of the key themes that came out of both our white paper as well as the 2023 annual WEF meeting, which Emma attended alongside world leaders.In this episode, you’ll hear discussion of:4:50 - How climate commitments – and progress toward them – have evolved since the 2015 Paris Agreement12:17 - Managing competing sustainability agendas20:50 - Climate adaptation: definitions and key actions businesses can take31:06 - Who will pay for adaptation31:39 - How measurement and disclosure of sustainability progress has evolved50:13 - Final advice for companies working to optimize their climate agendaLooking for more information on climate adaptation? Check out our white paper on Accelerating business action on climate change adaptation.Emma Cox is PwC’s Global Climate Leader, driving the delivery of our client-focused global climate strategy. In addition to previously serving as PwC UK’s Head of Purpose, Emma also led its Sustainability and Climate Change practice, with a team of sustainability and climate change specialists advising public and private sector clients in the UK and internationally on sustainability, development, urbanization, and climate change-related issues.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 us_podcast@pwc.com.

Every Tuesday in February, Andreas Ohl, PwC’s Global ESG Technical Leader, will be taking over the podcast and talking all about a company’s most valuable intangible asset, human capital. He will discuss what it is and why it matters, how it’s treated in financial and ESG reporting, and how its value is reflected in deals. In this episode, Heather Horn and Andreas discuss the current financial reporting landscape when it comes to human capital. In this episode, you’ll hear discussion of:1:35 - How human capital is largely shown as an expense in the external financial statements6:15 - Insights on how internal reporting can help companies measure the return on their investment in human capital11:55 - The disconnect that may exist between a company’s market value and book value 15:58 - Why this intangible asset is generally not on the balance sheet today28:20 - What companies and standard setters can do to give better insights into the value of human capitalListen to the earlier episode in this series on the impact of recent demographic trends on the investment in human capital, and stay tuned for more episodes in the series. Also read our point of view publication on making intangibles count. Andreas Ohl is a partner in PwC's National Office focused on thought leadership, standard setting, and mergers and acquisitions under US GAAP and IFRS. In addition to his US responsibilities, he leads the sustainability topic team for the PwC global network. Andreas is chairman of the Business Valuation Standards Board at the International Valuation Standards Council, is a member of the working group that authored the AICPA's in-process R&D guide, and has served as a member of the FASB's Valuation Resource Group.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 us_podcast@pwc.com.

The Task Force for Climate Related Financial Disclosures (TCFD) framework underpins each of the “big 3" sustainability disclosure proposals issued in 2022. But before it was incorporated in any of these proposals, TCFD was a heavyweight in its own right in terms of the breadth of its adoption. How did TCFD become what it is today?Heather Horn was joined by Jon Williams, PwC partner and TCFD member, to unpack the history of the TCFD and look ahead to how the framework may continue to shape sustainability reporting in the future.In this episode, you’ll hear discussion of:2:40 - The TCFD’s history and why it was initially formed12:07 - How the TCFD works to achieve stakeholder consensus on its framework recommendations16:10 - Updates on where adoption of the TCFD framework stands at five years from its founding20:43 - Perspectives on how regulators are raising the bar on TCFD disclosures24:35 - How the TCFD was designed to interact with other existing frameworks, including the Climate Disclosure Project (CDP)29:53 - Updates on the TCFD’s work plan for 202336:55 - Advice for companies who will be subject to mandatory TCFD disclosures in the futureLooking for more information on TCFD reporting and scenario analysis? Check out our previous podcast on Leveraging TCFD for climate-related disclosures.Jon Williams is a member of the TCFD and co-leads the PwC UK’s Sustainability & Climate Change practice. With over three decades of experience in sustainable finance and strategy, Jon focuses on issues relating to climate change, biodiversity, water, and poverty alleviation. His clients include financial institutions in both developed and developing economies as well as companies in the retail, consumer goods, healthcare, energy, and mining sectors.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 us_podcast@pwc.com.

Every Tuesday in February, Andreas Ohl, PwC’s Global ESG Technical Leader, will be taking over the podcast and talking all about a company’s most valuable intangible asset, human capital. He will discuss what it is and why it matters, how it’s treated in financial and ESG reporting, and how its value is reflected in deals. To kick off the series, host Heather Horn and Andreas were joined by Zain Siddiqui, a senior economist with PwC Intelligence, to break down the macroeconomic and demographic trends leading to the scarcity of human capital seen today. They’ll also discuss how companies should think about human capital (perhaps differently than before) given these trends. In this episode, you’ll hear discussion of:2:27 - What led to the abundant labor supply of the last few decades7:15 - The impact of COVID on the current labor force and the fundamental shift in worker preferences12:43 - How these demographic trends impact economic growth 14:44 - How to create value for your business by viewing human capital as an investment and not an expenditure 25:17 - What investing in the workforce means for businesses38:10 - Final advice when looking aheadStay tuned for upcoming podcasts in this series. Listen to our previous podcast with PwC Intelligence for a broader geopolitical and macroeconomic update.  Andreas Ohl is a partner in PwC's National Office focused on thought leadership, standard setting, and mergers and acquisitions under US GAAP and IFRS. In addition to his US responsibilities, he leads the sustainability topic team for the PwC global network. Andreas is chairman of the Business Valuation Standards Board at the International Valuation Standards Council, is a member of the working group that authored the AICPA's in-process R&D guide, and has served as a member of the FASB's Valuation Resource Group.Zain Siddiqui is a senior economist for PwC Intelligence with a specialty in macroeconomics and finance. He advises stakeholders and clients on the business implications of emerging macro and geopolitical vulnerabilities, and helps them shape business strategy. His research has appeared in books on international economic policy and macroeconomic journals.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 us_podcast@pwc.com.

In this episode, PwC partners Chris Rhodes and Andreas Ohl join us to discuss our 2023 deals outlook and related accounting considerations. Included are insights on how dealmakers are thinking about value creation as they navigate macroeconomic uncertainties and what finance teams need to know as deals are happening. In this episode, you’ll hear discussion of:1:21 - The current deals landscape and outlook for 20239:30 - Headwinds facing the deals market from the current macroeconomic and geopolitical environment14:12 - Accounting considerations for deal transactions in this type of macroeconomic environment28:36 - How successful dealmakers still find opportunities in divestitures33:58 - Final advice for companies considering deals in 2023Want to learn more about the 2023 deals outlook? Watch a replay of our webcast or read our report. And for more on accounting considerations, listen to previous podcasts on impairment accounting, including one on impairment of goodwill and other intangibles. Chris Rhodes is a partner in PwC's Deals practice. He provides commercial structuring, valuation, and accounting advice for a variety of transactions under both US GAAP and IFRS. He concentrates on delivering strategic transactions such as acquisitions, divestitures, and joint ventures, along with capital raising, capital restructuring, and other financial engineering, including risk management. Andreas Ohl is a partner in PwC's National Office focused on thought leadership, standard setting, and mergers and acquisitions under US GAAP and IFRS. In addition to his US responsibilities, he leads the sustainability topic team for the PwC global network. Andreas is chairman of the Business Valuation Standards Board at the International Valuation Standards Council, is a member of the working group that authored the AICPA's in-process R&D guide, and has served as a member of the FASB's Valuation Resource Group.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 us_podcast@pwc.com.

PwC’s 26th annual global CEO survey came out last month, and the data revealed that CEOs are facing a dual imperative in today’s uncertain environment to not only reduce costs, but also to spur growth. Businesses are facing uncertainty, and exploring options to shore up and prepare for the future. Activities may include reducing operating costs, diversifying products and services, raising prices, and implementing hiring freezes.So which of all of these options is best for your company? Heather Horn was joined by Bhushan Sethi, PwC Strategy& partner, to discuss how finance teams can work to help their businesses weather storms in the near term, while still preparing for longer term success.In this episode, you will hear:1:59 - How macroeconomic forces have shaped CEO sentiment and optimism over the last year9:03 - The impact of stakeholder capitalism on informing companies’ decisions about strategy and investments in the current downturn12:01 - How businesses balance short-term performance with long-term resilience20:30 - Labor market updates, and how worker preferences are evolving28:19 - How companies are embracing growth in spite of near-term challenges by diversifying products and services and leveraging technology32:37 - Looking ahead five to ten years: what successful companies are doing now to prepare for changes in demographics, business models, and trends in globalizationWant to hear more perspectives from our latest Global CEO Survey? Check out our summary of the survey results.Bhushan Sethi is a partner in Strategy&, PwC’s strategy consulting business, where he’s focused on Business and Organization Transformation. 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. With over 30 years of experience, Heather’s accounting and auditing expertise includes financial instruments and rate-regulated accounting.

The SEC’s sweeping climate-related disclosure proposal released in March 2022 continues to be a focal point for companies and investors as stakeholders anticipate what may be included in the final release, and perhaps even more importantly, when the new rules will go into effect. Notwithstanding this pending proposal, registrants need to ensure that the SEC’s existing long-standing climate-related disclosure requirements are fully embraced in the upcoming reporting cycle.In this episode, Heather Horn, host of our podcast series, brings you an audio version of our publication that analyzes climate disclosures in the most recent annual SEC filings from the S&P 100. In this audio recording, you’ll hear:1:16 - A recap of current climate disclosure requirements3:42 - An overview of our analysis of the climate disclosures of the S&P 1005:54 - The six topics we identified as recurrent themes across climate disclosures9:53 - A summary of the prevalence of disclosures regarding climate-related targets and goals12:30 - Reminders on the importance of preparing 2023 filings with the SEC’s focus on climate in mindRefer also to the print version, Today's SEC climate disclosures - how do you measure up?. Also, register for our Q1 2023 Quarterly ESG webcast on February 16 or March 1, 2023.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 us_podcast@pwc.com.

In each episode of our Year-end toolkit series, our guests discuss key areas of the year-end reporting process – from closing the books to finalizing reports.In this episode, Heather Horn was joined by Gary Berchowitz, a leader in PwC’s Global Assurance Quality - Corporate Reporting Services group, to discuss the challenges and judgments needed under IFRS with regard to many of the hot button topics that we’ve been discussing in this series: Russia / Ukraine, inflation, and others key areas driven by today’s current environment.In this episode, you’ll hear discussion of:1:40 - The impact of inflation and higher interest rates on asset valuations, income statement presentation, and other accounting topics11:33 - How to contemplate climate-related risks under IFRS, and the importance of bridging sustainability commitments and financial impact for investors18:14 - Russia, Ukraine, and accounting for uncertainty more broadly22:35 - Considerations for non-insurers with regard to the new insurance guidance, IFRS 1726:10 - Updates on the OECD’s Pillar 2 global minimum tax proposal and the proposed deferred tax accommodations from the IASB31:32 - The importance of updating processes to adjust to the current environment 32:41 - IASB standard setting expected in 2023Check out other episodes of our Year-end toolkit series: Managing materiality assessments and Accounting reminders for uncertain times.Gary Berchowitz is the Non-Financial Instruments Leader in PwC’s Global Assurance Quality - Corporate Reporting Services group. Gary brings nearly 20 years of financial accounting experience, working to drive quality and connectivity throughout the PwC network and help local teams solve complex accounting issues in a practical way. Gary contributes to the firm’s global view on a variety of financial reporting matters.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 us_podcast@pwc.com

In each episode of our Year-end toolkit series, our guests discuss key areas of the year-end reporting process – from closing the books to finalizing reports.In this episode, Heather Horn was joined by Stephen Parker, a partner in PwC’s Governance Insights Center, to discuss the ways that finance teams can effectively communicate with those charged with governance – and for 2022, it’s all about timely discussions that are responsive to the current environment.In this episode, you’ll hear discussion of:1:51 - The core oversight responsibilities of audit committees6:41 - The key issues that finance teams need to be sure they cover in their next audit committee meetings16:58 - Preparing to effectively address ESG reporting questions 20:55 - For directors: the importance of being proactive about sustainability disclosures and the impact of ESG matters on the business32:24 - Best practices for facilitating an audit committee meeting35:43 - Final advice for both directors and finance teamsCheck out other episodes of our Year-end toolkit series, available in our library, including making materiality assessments and some important accounting reminders for uncertain times.Stephen Parker is a partner in PwC’s Governance Insights Center, which strives to strengthen the connection between directors, executive teams, and investors by helping them navigate the evolving governance landscape. With more than 30 years of experience, Stephen has advised boards of directors on a variety of complex financial reporting matters. Stephen’s client service experience includes energy and utility companies, financial services companies, and nonprofits.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 us_podcast@pwc.com.

The International Sustainability Standards Board (ISSB) has been working quickly through deliberations on its proposals to create a comprehensive global baseline of sustainability disclosures.Since we last covered the ISSB’s deliberations in October 2022, the Board has met four more times for redeliberations on draft standards –  and each meeting was chock full of action. This week, Heather Horn was joined by Andreas Ohl and Katie Woods to unpack the dialogue and tentative decisions reached within these meetings.In this episode, our guests discuss:1:42 - The status of the ISSB exposure drafts and progress toward finalization8:27 - An overview of discussions at recent ISSB meetings13:30 - How estimates may be handled in sustainability reporting17:05 - Consistency of timelines between financial and sustainability reporting22:21 - Clarifications the ISSB is considering on the concept of enterprise value32:44 - Climate-related disclosures, including GHG intensity measures42:46 - Other topics proposed for future standard-setting considerationLooking for more information on the ISSB and ESG reporting? Check out our previous podcast on responses to the ISSB exposure drafts, as well as our In the loop on navigating the ESG landscape. Andreas Ohl is a partner in PwC's National Office focused on thought leadership, standard setting, and mergers and acquisitions under US GAAP and IFRS. In addition to his US responsibilities, he leads the sustainability topic team for the PwC global network. Andreas is chairman of the Business Valuation Standards Board at the International Valuation Standards Council, is a member of the working group that authored the AICPA's in-process R&D guide, and has served as a member of the FASB's Valuation Resource Group.Katie Woods is a Director in PwC's Global Accounting Consulting Services group and advises on ESG and International accounting standards. Katie specializes in the new and emerging ESG reporting frameworks working across the PwC Network. She has over 30 years of experience working with a broad range of companies. Katie speaks regularly on a range of ESG and accounting topics at national and international seminars.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 us_podcast@pwc.com.