Presenting earnings per share (EPS)

In this episode, host Heather Horn sits down with Kyle Moffatt, PwC’s Professional Practice leader, and PwC National Office partners Kevin Vaughn and Valerie Wieman to break down the much-anticipated SEC climate-related disclosures rules. 

For more information on the SEC climate-related disclosure rules, refer to our In brief publication.

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.

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.

Kevin Vaughn is a partner in PwC’s National Office. Prior to joining PwC, Kevin was senior associate chief accountant in the Office of the Chief Accountant (OCA) at the SEC where he spent almost 20 years focusing on complex financial reporting and technical accounting issues.

Valerie Wieman is a PwC National Office partner with over 30 years of experience. She helps lead the creation, development, and publication of our brand-defining thought leadership, with a focus on domestic and international sustainability requirements.

Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com. 

The GHG Protocol has been one of the most widely used sustainability reporting frameworks for companies reporting GHG emissions information. With the evolution of the sustainability reporting landscape, including the adoption of regulatory sustainability reporting frameworks both in the United States and globally, the criticality of GHG emissions information and the GHG Protocol is reinforced by its incorporation in the primary sustainability reporting frameworks.

In this episode, host Heather Horn sits down with Marcin Olewinski, a PwC Trust Solutions partner, to unpack some of the fundamental judgments in GHG emissions reporting as companies prepare for the shift from a voluntary to mandatory reporting environment.

In this episode, you’ll hear:

• 00:44 - An overview of the prominence of GHG emissions reporting across jurisdictions, including the impact of the evolution in the regulatory landscape
• 2:24 - A discussion of the key concepts and definitions that are foundational to GHG emissions reporting, including:
  • 3:01 - An overview of scope 1, 2, and 3 emissions
  • 10:30 - A breakdown of organizational and operational boundaries
  • 14:15 - Insights on practical challenges companies face in establishing the reporting boundary and preparing a GHG emissions inventory
• 16:05 - A refresher on the key differences in organizational boundaries among the sustainability reporting frameworks and advice for companies subject to multiple frameworks
• 18:50 - Considerations for companies establishing policies, processes, and controls to collect and aggregate data across its own operations and its value chain as a starting point for a GHG emissions inventory that is complete and accurate
• 27:59 - A discussion of the importance of consistency and reliability of input data as it relates to both activity data and emissions factors, including advice for companies navigating this reporting journey

For more information, read our Navigating the ESG landscape publication as well as our comment letter to the GHG protocol. Additionally, note that this podcast was recorded prior to issuance of the SEC climate disclosure rules on March 6. Stay tuned for more content specific to the SEC rules. Lastly, follow this podcast on your favorite podcast app for more episodes.

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 is 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.

We continue our podcast series focused on financial statement presentation.

In this episode, host Heather Horn sits down with Bret Dooley, Deputy Chief Accountant in PwC’s National Office leading our financial instruments team, for a refresher on restricted cash – a focus area due to its impact on liquidity and the recent statement from the SEC Chief Accountant on the cash flow statement. Together, they break down the judgments in identifying and presenting restricted cash.

In this episode, you’ll hear:

• 2:10 - A refresher on restricted cash, including its not-so-simple definition, its impact on liquidity ratios, and its relevance in the current economic environment
• 9:30 - A discussion of the various types of restrictions imposed on cash and its impact on the classification and reporting of restricted cash, including:
  • 10:35 - Distinguishing between self-imposed and legal restrictions
  • 15:02 - Contractual restrictions
  • 19:39 - Cash collected or remitted on behalf of others 
• 24:45 - How to consider the types of restrictions imposed on cash equivalents
• 27:28 - Final reporting reminders for companies dealing with restricted cash or cash equivalents

For more information, read chapter 6 of our Financial statement presentation guide or listen to another podcast on the statement of cash flows, 2023 Year-end toolkit: Conquering the statement of cash flows. Additionally, follow this podcast on your favorite podcast app for more episodes.

Bret Dooley is a Deputy Chief Accountant in PwC’s National office who leads teams focused on the financial services sectors and accounting for financial instruments. He has over 25 years of experience in the financial services, banking, and capital markets industries. Bret focuses on emerging financial reporting issues related 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.

The European Union (EU) has ushered in a new era of sustainability reporting, as the Corporate Sustainability Reporting Directive (CSRD) is now effective. With impacts to both EU and non-EU headquartered companies, now is the time to understand the reporting requirements of this sweeping new regulation.

Continuing our CSRD series, this week Heather Horn is joined by PwC Netherlands partner Kees-Jan de Vries to discuss the topic of the EU’s green taxonomy disclosures for financial institutions, including how the metrics and key performance indicators differ from the baseline taxonomy disclosures, as well as what financial institutions should be doing to prepare. 

In this episode, you’ll hear:

• 2:31 - Explanation of the European Union's green taxonomy and its implications
• 9:14 - Discussion on how the green taxonomy is different for financial institutions
• 12:17 - Breakdown of key performance indicators (KPIs)
• 18:58 - Challenges financial institutions face in reporting on the green taxonomy
• 22:03 - Expectations for banks and insurance companies to seek out more data due to the green taxonomy
• 27:10 - The shift from the Non-Financial Reporting Directive (NFRD) to the Corporate Sustainability Reporting Directive (CSRD) and its impact
• 30:34 - How adoption of taxonomy disclosures requires similar oversight and controls as adoptions of other accounting rules and disclosure frameworks

Kees-Jan de Vries is a sustainability partner for PwC Netherlands, specializing in reporting for banks and insurance companies. He serves as chair of PwC's international Financial Services Sustainable Reporting Working Group that interprets EU Taxonomy, CSRD, ESRS, and SFDR requirements.

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.

We continue our month of podcasts focused on financial statement presentation.

In this episode, host Heather Horn sits down with Bret Dooley, Deputy Chief Accountant in PwC’s National Office leading our financial instruments team, for a refresher on a topic that is fundamental to financial reporting for its impact on financial statement ratios – balance sheet offsetting. Together, they break down the complexities involved in determining whether and how to offset balance sheet amounts. 

In this episode, you’ll hear:

• 1:30 – A refresher on balance sheet offsetting, including its purpose and significance to financial statement users
• 6:15 – A discussion of the general accounting framework, including the four conditions to determine whether a right of setoff exists
• 15:33 – An explanation of the different offsetting arrangements for derivatives 
• 19:11 – A breakdown of the six criteria for balance sheet offsetting of reverse repurchase and repurchase agreements
• 22:59 – Final accounting reminders for companies navigating balance sheet offsetting

For more information, read chapters 19 and 22 of our Financial statement presentation guide. Additionally, follow this podcast on your favorite podcast app for more episodes.

Bret Dooley is a Deputy Chief Accountant in PwC’s National office who leads teams focused on the financial services sectors and accounting for financial instruments. He has over 25 years of experience in the financial services, banking, and capital markets industries. Bret focuses on emerging financial reporting issues related 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.

The European Union (EU) has ushered in a new era of sustainability reporting, as the Corporate Sustainability Reporting Directive (CSRD) is now effective. With impacts to both EU and non-EU headquartered companies, now is the time to understand the reporting requirements of this sweeping new regulation.

Continuing our CSRD series, this week Heather Horn is joined by Peter Flick and Nina Schäfer to discuss the topics of reporting boundaries and other common CSRD implementation questions companies are facing.

In this episode, you’ll hear:

• 3:30 – Explanation of the concepts of reporting boundaries and value chain in sustainability reporting
• 8:59 – An analogy of concentric circles to explain the concept of own operations and value chain
• 12:24 – A discussion on the importance of considering subsidiaries in ESG reporting
• 23:01 – Insights on the impacts of leasing contracts and special purpose entities on sustainability reporting
• 33:16 – Context for the implementation guidance provided by EFRAG for companies starting with their adoption of CSRD reporting

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.

Peter Flick is the Sustainability Reporting Technical Leader for PwC Germany, where he oversees a team focused on sustainability reporting issues in the National Office. Prior to taking on sustainability reporting, Peter consulted with clients on complex financial instrument accounting under IFRS and German GAAP.

Nina Schäfer is a Director in PwC Germany’s National Office, where she focuses on sustainability reporting technical issues and consultations.

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.

We continue our month of podcasts focused on financial statement presentation.

In this episode, host Heather Horn sits down with Jay Seliber, a partner in PwC’s National Office specializing in business combinations, to share insights on the accounting and reporting considerations for discontinued operations. Together, they unpack the judgments and practical challenges in navigating discontinued operations, an area of increased focus given the current economic environment in which many companies are considering disposing of portions of their businesses.

In this episode, you’ll hear:

• 2:27 – An overview of the criteria and qualifications for discontinued operations, including highlights of the key areas of judgment, timing considerations, and implications for businesses
• 13:05 – Insights on the qualifications for held-for-sale treatment 
• 18:40 – Key questions on presentation and classification of discontinued operations after meeting the gating criteria, including:
  • 19:01 – Impact to the balance sheet and income statement
  • 21:45 – Debt and income tax implications
  • 25:25 – Impact on earnings per share (EPS) computations
  • 28:55 – Statement of cash flows implications
• 30:50 – Overview of the SEC filing requirements related to discontinued operations
• 36:16 – Final advice for preparers on presenting discontinued operations

For more information, read chapter 27 of our Financial statement presentation guide and chapter 12 of our Income taxes guide. Additionally, follow this podcast on your favorite podcast app for more episodes.

Jay Seliber is a partner in PwC’s National office. He leverages over 30 years of experience to help clients with their most complex accounting matters, particularly in the areas of mergers and acquisitions, revenue recognition, stock compensation, earnings per share, employee benefits, restructurings, impairments, and 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. 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) issued final IFRS® Sustainability Disclosure Standards (SDS) in June of 2023. Multiple jurisdictions around the world have signaled their intent to adopt the new standards, including some with fulsome legislative or regulatory proposals.

To capture the latest updates regarding the adoption of ISSB standards, Heather Horn sat down with Katie Woods, PwC UK Senior Director, to discuss measures advancing the standards in specific jurisdictions, as well as other important updates on the standard setter’s recent activities.

In this episode, you’ll hear discussion of:

• 3:15 – The International Sustainability Standards Board (ISSB) and its role in the global framework
• 4:00 – The first two standards issued by the ISSB, including the general disclosure standard and the climate standard
• 4:19 – Countries moving forward with potential adoption of ISSB standards
• 7:32 – Updates on Singapore's adoption of ISSB standards and its impact on public and large private companies in Singapore
• 8:12 – An update on the UK's approach to sustainability disclosure standards as well as a rundown of other countries’ recent measures on sustainability reporting
• 14:45 – The ISSB’s work to internationalize Sustainability Accounting Standards Board (SASB) standards, and its recently issued educational materials
• 20:42 - The focus of the ISSB's next thematic standards and the importance of the digital taxonomy in sustainability reporting
• 27:10 – The importance of understanding multiple reporting frameworks to keep up with the rapid pace of change in sustainability reporting

Looking for the latest developments in sustainability reporting? Follow this podcast on your favorite podcast app and subscribe to our weekly newsletter for the latest thought leadership on sustainability standards.

Katie Woods is a Senior Director in PwC's Global Corporate Reporting Services - sustainability group advising 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.

We continue our month of podcasts focused on financial statement presentation hot topics. 

In this episode, host Heather Horn sits down with Pat Durbin, a deputy chief accountant in PwC’s National Office, and Felix Perez, a partner in PwC’s National Office specializing in SEC reporting, to discuss the significance of income statement presentation to the investor community and standard setters. Together, they break down key areas of judgment and the practical challenges involved in income statement presentation and classification.

In this episode, you’ll hear:

• 1:34 - The significance of income statement presentation and classification in portraying financial performance, including general reporting considerations and the interaction between income statement presentation and non-GAAP metrics
• 8:50 - The SEC's rules on the form and content of income statements, including considerations for financial institutions
• 21:44 - Income and expense disaggregation reminders, including classification of operating versus non-operating expenses as well as considerations for cost of sales, depreciation, and amortization
• 33:50 - The complexities of income statement classification in collaborative arrangements, discontinued operations, and impairments
• 42:05 - An update on the FASB project on disaggregation of income statement expenses (DISE) project

For more information, read chapter 3 of our Financial statement presentation guide. Additionally, follow this podcast on your favorite podcast app for more episodes.

Pat Durbin is a Deputy Chief Accountant in PwC’s National Office. He has over 30 years of experience consulting with our clients and engagement teams on complex accounting matters, including issues related to revenue, compensation, income taxes, and inventory under both US GAAP and IFRS.

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.

Felix Perez is a partner in PwC’s National Office specializing in SEC reporting. He has over 25 years of experience serving clients and engagement teams across financial services and technology sectors.

Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com.

Investors today want to better understand how companies are managing crises and staying resilient, while creating and protecting long-term value in today’s fracturing world. They are looking closely at two areas—emerging technology and sustainability—to gauge whether companies can seize opportunities for reinvention and business transformation, or whether they will instead succumb to rivals.  

That’s according to PwC’s most recent Global Investor Survey, which is now in its third consecutive year. To break down some of the survey’s results and their implications for preparers, Heather Horn sat down with Nadja Picard, PwC’s global reporting leader. 

In this episode, you’ll hear: 

• 3:19 - The importance of sustainability in the context of broader business activity and how it is no longer a siloed topic 
• 5:54 – How investors prioritize agility in managing long-term risks and opportunities 
• 17:25 - The challenges companies face in collecting and managing sustainability data and the importance of having a well-defined data strategy 
• 18:19 - The importance of credibility in sustainability reporting and how investors are looking for strategies that are underpinned by good plans 
• 24:43 - Investor perspectives and beliefs on corporate greenwashing, per our survey 
• 29:41 - The learning journey of companies in implementing sustainability reporting and the role of regulators in this process 
• 32:58 - The future of sustainability reporting and the role of technology in improving data collection and reporting 

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. 

Nadja Picard is PwC’s Global Reporting Leader. In this role, she leads PwC’s global initiative to help clients transform their corporate reporting to meet investor and stakeholder demands for trusted and assured reporting beyond financial reporting. Nadja also advises companies on the accounting, corporate reporting, and investor relations requirements in advance of capital markets transactions, especially IPOs.

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.