Our Full disclosure podcast series brings you back to the basics on all things related to financial statement presentation and disclosure, from the top of the financial statements through the footnotes.

This week we focus on the presentation and disclosure requirements for revenue. Angela Fergason is joining us again to break down revenue from contracts with customers and what needs to be included in your financial statements.

Topics include:

1:15 - Income statement and balance sheet. Angela opens with a quick overview of how to present revenue on the income statement and balance sheet, and a few reminders of key requirements.
11:29 - Disaggregated revenue. Angela gives an overview of the five major disclosure areas for revenue and dives into requirements around disaggregating revenue.
16:23 - Performance obligations. Angela explains the quantitative and qualitative disclosure requirements for performance obligations, paying particular attention to those related to remaining performance obligations—which are often the most time consuming to prepare.
21:27 - Remaining disclosures. Angela covers the final three primary areas of disclosures for public companies: significant judgments, contract balances, and cost to obtain or fulfill a contract
27:47 - Non-public companies. Angela highlights which disclosures apply to non-public companies, and which don’t.
29:05 - Closing. Heather tries to stump Angela with a few revenue and ASC 606 trivia questions before Angela provides some final advice and reminders to companies evaluating their disclosures.

Want to hear more about revenue from Angela? Check out some of our past podcasts:

Also listen to Full disclosure: The balance sheet to learn more about balance sheet offsetting and see our Financial statement presentation guide for more details on presentation and disclosure for revenue.

Angela Fergason is a partner in PwC's National Office with over 20 years of experience who specializes in accounting for revenue and employee compensation arrangements. She is a frequent speaker on accounting and financial reporting topics and is a contributor to many PwC National Office publications, including our accounting guides on revenue and stock-based compensation.

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

Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

having conversations