While relatively few new accounting standards have been issued this year, the FASB has been busy, with several proposals expected before year end and other projects underway. We discuss key projects on the FASB's agenda, potential changes to US GAAP, and why companies should be paying attention during the development phase. We also explore how companies can get involved and provide feedback during the standard setting process.

Key topics and timestamps

• 2:24 – Cash equivalents, stablecoins, and disclosures
• 5:53 – Equity-linked instrument classification
• 10:58 – Equity method of accounting
• 15:52 – Debt modifications and extinguishments
• 22:06 – Goodwill impairment testing
• 25:21 – Fair value and contractual sale restrictions
• 26:00 – Transferable tax credits
• 27:34 – Business combinations and asset acquisitions
• 30:42 – Potential changes to the statement of cash flows
• 32:06 – Data infrastructure investments
• 33:16 – How companies can engage in FASB standard setting

Additional resources

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About our guests

Bret Dooley is a PwC National Office Deputy Chief Accountant 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. In his role, Bret focuses on emerging financial reporting issues related to financial instruments, developing interpretive guidance, and assisting clients in resolving complex accounting matters.

Jay Seliber is a partner in PwC’s National office. He leverages over 35 years of experience to help clients with their most complex accounting matters, particularly in the areas of mergers and acquisitions, consolidation, divestitures, revenue recognition, investments, restructurings, impairments, stock compensation, earnings per share, and financing transactions.

About our guest host

Angela Fergason is PwC’s standard setting leader, managing PwC’s strategy for engaging in accounting standard setting activities. A partner in PwC’s National Office, Angela is an experienced consultant on technical accounting and financial reporting matters, specializing in revenue recognition, employee compensation, and emerging issues impacting the technology industry.

Transcripts

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

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Sustainability strategies are evolving as companies focus on protecting margins, building resilience, and identifying opportunities for growth. We discuss how companies can drive business value by embedding sustainability into business strategy, connecting sustainability initiatives to financial outcomes, and using data to guide business decisions.

Key topics and timestamps

• 1:31 — Embedding sustainability into business strategy
• 10:06 — Quantifying the financial impacts of sustainability risks and opportunities
• 14:19 — Climate risk, supply chain resilience, and business strategy
• 19:38 — Using sustainability information to inform business decisions
• 22:32 — AI’s sustainability impacts and responsible use

For more on sustainability and business strategy, check out our Sustainability News Brief.

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About our guest

Lynne Baber is PwC’s Global Sustainability Leader. She works with the PwC Global Sustainability Leadership Team to deliver PwC’s ambition to be the leading business adviser on sustainability issues, grounded in PwC’s client-centric, business-first approach. She provides support and advice to the PwC network on how to integrate sustainability factors with the broader business to both protect and create value. As well as this strategic advisory role, Lynne is PwC's Global Corporate Sustainability Leader, advancing PwC's own sustainability actions and commitments.

About our host

Heather Horn is the PwC National Office Sustainability and Thought Leader, responsible for developing our communications strategy and conveying firm positions on accounting, financial reporting, and sustainability matters. In addition, she is part of PwC’s global sustainability leadership team, developing interpretive guidance and consulting with companies as they transition from voluntary to mandatory sustainability reporting. She is also the engaging host of PwC’s accounting and reporting weekly podcast and quarterly webcast series.

Transcripts

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

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Software and software-as-a-service (SaaS) companies are navigating accounting questions as AI technologies become part of their products and development processes. We discuss how companies can apply existing accounting guidance to new revenue recognition questions involving software licenses, SaaS, AI-enabled services, and commercial arrangements. Our guests also discuss capitalizing and classifying software development costs.

Key topics and timestamps

• 1:47 — Software licenses versus software-as-a-service
• 8:36 — AI-enabled services and revenue recognition
• 15:37 — Reseller arrangements and principal versus agent considerations
• 19:50 — Customer-vendor arrangements and consideration payable to a customer
• 23:56 — Minimum spend commitments and performance obligations
• 28:00 — AI costs and software capitalization

Additional resources

For more information see our publication, Revenue recognition: A Q&A guide for software and SaaS entities and our Software costs guide.

Additionally, follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to stay informed.

About our guests

Angela Fergason is a partner in PwC's National Office. Her areas of specialty include revenue recognition, accounting for employee compensation arrangements, and other accounting and reporting issues impacting the technology industry. Angela is also PwC's standard setting leader, managing PwC's participation in the accounting standard setting process.

Mike Coleman is a partner in PwC's National Office who specializes in accounting for revenue and software arrangements and has served technology clients for much of his career. In addition, Mike has represented the firm on the AICPA Software Task Force.

About our guest host

Pat Durbin is a PwC National Office Deputy Chief Accountant. 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.

Transcripts

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.