A critical step in getting ready for new sustainability reporting requirements is building a comprehensive governance framework. In this episode, host Heather Horn sits down with Stephen Parker and Matt DiGuiseppe of PwC’s Governance Insights Center to discuss the new regulatory environment and what it means for board members looking to discharge their oversight responsibilities effectively and management looking to get the board ready. In this episode, we discuss: 2:21 - Reactions to new sustainability reporting frameworks from senior management and boards 6:13 - Strategies for managing the ..read more

In this next episode in our miniseries on lease accounting, we focus on lessee accounting for real estate leases. From lease incentives to build-to-suit arrangements and more, we cover some of the key areas that lessees should consider in accounting for real estate leases.  In this episode, we discuss: 03:25 - Lease incentives 08:23 - Distinguishing between lessee and lessor assets 11:28 - Accounting for lessee assets 13:50 - Accounting for lessor assets 17:20 - Determination of the lease commencement date 19:06 - Multiple units of account in a lease 21:51 - Build-to-suit arrangements ..read more

While the changing global sustainability reporting landscape may pose challenges for preparers, there continue to be opportunities for companies in every industry to take a holistic approach to disclosure – whether mandatory or voluntary. In this episode, host Heather Horn sits down with Marc Siegel, PwC National Office partner, for a discussion of the key focus areas and action steps for C-suite executives as they ready their companies for the future of global sustainability reporting. In this episode, we discuss: 2:36 - How the market has spoken – and determined that sustainability disclo ..read more

We continue our miniseries on lease accounting. In this episode, we discuss “day 2” lease accounting, focusing on lease remeasurements, subleasing, and lease impairments. In this episode, you’ll hear a discussion of: 01:18 - Events requiring remeasurement 02:17 - Full lease remeasurements 06:19 - Partial lease remeasurements 7:47 - Lease term and purchase option remeasurements 13:44 - Lease modification remeasurements 21:34 - Subleasing arrangements 25:58 - A refresher on ROU asset impairments For more information on modifications and remeasurements of leases, read chapter 5 of our Lease ..read more

The International Sustainability Standards Board (ISSB) under the IFRS Foundation last year released IFRS S1 and IFRS S2, representing a step toward the organization’s goal of achieving a comprehensive global baseline of sustainability disclosures. But implementing such a global baseline effectively goes beyond simply setting standards – it requires a new set of capabilities, infrastructure, knowledge, and talent in economies around the world. New sustainability reporting requirements in jurisdictions around the world have resulted in the need for companies to take stock of their own capacity ..read more

This first episode in a miniseries on lease accounting focuses on lease classification. We provide an overview of the differences between finance and operating leases and discuss the criteria for classifying leases. In this episode, you’ll hear: 3:30 - An overview of the key differences between finance and operating leases, including expense recognition and cash flow classification 5:15 - A discussion of how to determine if a lease should be classified as finance or operating including: 6:35 - Lease commencement date considerations 10:20 - Whether a lease contains a single asset or multiple ..read more

Companies around the world are now facing the difficult task of operationalizing multiple sustainability reporting regulations, and doing so within an unprecedented timeline. How are they managing the pressures? In this episode, host Heather Horn sat down with Alan McGill, PwC’s Global Sustainability Reporting, Measurements, and Assurance Leader, to illuminate some of the ways that companies are most effectively navigating the current regulatory landscape.  In this episode, we discuss: 2:45 - The complexity of the current sustainability regulatory landscape  7:03 - The market respo ..read more

We wrap up our miniseries exploring accounting for property, plant, and equipment with a discussion of asset acquisitions. In this episode Host Heather Horn is joined by PwC National Office partners Matt Sabatini and Alexander Martin who team up to share their knowledge and insights on this topic. In this episode, you’ll hear: 04:41 – A discussion of how to determine whether a transaction is an asset acquisition or a business combination 24:26 – An explanation of the asset acquisition accounting framework 32:58 – The complexities of contingent consideration arrangements 39:32 – How transact ..read more

The SEC’s new climate-related disclosures rules include new required disclosures on greenhouse gas (GHG) emissions reporting and assurance will be required. In this episode, host Heather Horn sits down with Marcin Olewinski, a Trust Solutions partner, to unpack the key GHG emissions reporting requirements in the SEC’s new rules and to share insights for companies navigating the intersection among regulatory reporting requirements globally. In this episode, you’ll hear: 2:20 - An overview of GHG emissions reporting requirements under the new SEC rules 7:30 - A discussion of the materiality q ..read more

The SEC’s final climate rule may be the headline news; however, companies shouldn’t lose sight of other requirements impacting first quarter reporting. As we kick off a new year, use our “cheat sheet” summary to keep track of new accounting guidance effective in 2024. In addition, Pillar Two tax legislation is now effective in several jurisdictions around the world and we discuss the implications. Marking a significant milestone in sustainability reporting, the SEC voted on March 6 to finalize its long-awaited climate disclosure rules. In regulatory developments we provide details and the res ..read more