PwC's accounting podcast

While financial statements users have always placed a lot of importance on the statement of cash flows, the focus has sharpened in today’s turbulent environment. Listen as host Heather Horn and Suzanne Stephani, a director in PwC’s national office, discuss frequently asked questions and share useful reminders for those in the process of preparing the cash flow statement for their year-end reporting. Topics include:0:16 - Debt restructuring. Debt restructuring often brings fees. We look at a few reporting scenarios and discuss the presentation of these fees. 7:04 - Borrowings and repayments under revolvers. Some companies are drawing down on their revolvers as a way to access liquidity. We discuss whether the borrowings and repayments under a revolver should be presented gross or net on the cash flow statement and share other key reminders.9:48 - Supply chain financing. As a result of liquidity struggles, companies have gotten creative with pushing out payment terms in a variety of ways—and this raises questions on the statement of cash flows. Through practical examples, we look at how these transactions should be presented and discuss the FASB’s project on the disclosure of supply chain finance programs.  16:38 - Lease modifications/terminations. During 2020, many companies made changes to their lease agreements, especially real estate leases. We talk through presentation considerations in this area. 18:42 - Sale of accounts receivables. What are the cash flow considerations when a company sells or factors their trade receivables? Suzanne explains.Have more cash flow presentation questions? Read our Financial statement presentation guide and listen to our podcast, Statement of cash flows: Back to basics. About our guestSuzanne Stephani is a director in PwC’s National Office specializing in the application and interpretation of the accounting guidance related to financing transactions.About our hostHeather 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, as well as periodic webcasts for the power and utilities industry. With nearly 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.Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

After looking at CECL disclosures from the first three quarters of 2020, we’ve noted some clear trends. In this timely episode, host Heather Horn is joined by Chip Currie and Jonathan Odom, two PwC National office partners, to discuss CECL disclosures and share important reminders as calendar year-end companies dive into their year-end reporting cycle.Topics include:0:45 - Introduction. Before launching into the CECL disclosures, we highlight some changes made to the CARES Act deferral of CECL and troubled debt restructuring guidance as a result of the recent stimulus bill signed into law in December.6:01 - Q3 2020—What we saw. We provide perspectives on how CECL-related disclosures have evolved through Q3 of 2020, including what we’ve heard from analysts.14:18 - The FASB. The FASB has been actively working on their post-implementation review of the CECL accounting standard. In this section, we discuss what they’ve heard in terms of disclosures and share other observations on what we expect to come out of their review. 16:58 - SEC comment letters. Any new developments or focus areas of the SEC? We take a look.   18:22 - Final reminders. As companies prepare and refine their disclosures for their annual reports, we share some general best practices.Chip Currie is a partner in PwC’s National Office with over 20 years of experience assisting companies in resolving complex business and accounting issues. He concentrates on the accounting for financial instruments for both current and emerging standards and works with many of the firm's largest financial services clients and a number of non-financial service clients on treasury-related matters.Jonathan Odom is an assurance partner in PwC’s National Office SEC services practice with over 20 years of experience in providing accounting and advisory services to the financial services sector. 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, as well as periodic webcasts for the power and utilities industry. With nearly 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.Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.