2023 Year-end toolkit: Key accounting and reporting reminders
PwC's accounting podcast
Revolving Debt Agreements as a Source of Liquidity
This chapter discusses the classification of revolving debt agreements as either current or noncurrent and mentions the option to choose between a base rate or a variable rate for each borrowing.
In each episode of our Year-end toolkit series, our guests share insights on key areas of the year-end accounting and reporting process.
To kick off the series, guest host Valerie Wieman, PwC National Office partner, welcomes three of our deputy chief accountants to discuss what is top of mind for each of them this year end.
In this episode, you will hear discussion of:
- 3:41 - Contingent consideration in a business combination, including the impact on the statement of cash flows
- 6:20 - Equity method investments and recording basis differences
- 10:08 - Disposing of a business, including when to apply the held-for-sale model
- 15:34 - Revenue contract modifications
- 18:40 - Avoiding common pitfalls with debt restructurings in a rising interest rate environment
- 23:55 - Fair value measurement after compensation and incentive arrangement modifications and the impact of the SEC’s new clawback rule
- 35:39 - Updates on segment reporting
- 37:31 - Impact of the current macroeconomic environment on impairment analyses
- 39:58 - Tax implications of nonrecurring transactions and accounting for Inflation Reduction Act (IRA) credits
- 47:20 - Cash flow presentation of other financing sources, including revolving debt agreements and supplier finance programs
For more information on presentation and disclosure requirements, read our Financial statement presentation guide, and for further insights on the latest accounting, financial reporting and regulatory updates, read our Q4 2023 quarter close. Additionally, follow this podcast on your favorite podcast app for upcoming episodes in our Year-end toolkit series, and for disclosure reminders on supplier finance programs, listen to our previous podcast.
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.
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.
Beth Paul is a Deputy Chief Accountant in PwC’s National Office responsible for a team of consultants that specialize in business combinations and related areas, such as consolidations, disposals, impairments, and segment reporting.
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.
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