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PwC’s Heather Horn and a panel of PwC specialists answer common questions about recent accounting and reporting developments.
Did you submit a question during our Q3 quarterly accounting and reporting developments webcast? Even if you couldn’t join the webcast, you’ll find this episode helpful as we answer the most common questions on recent accounting developments. Tune in as Maria Constantinou, John Horan, Marc Jerusalem, and Suzanne Stephani join Heather Horn to address topics you need to know about, including:
  • 1:27 - Leasing and the scope of CECL. Are operating lease receivables subject to the scope of CECL? Marc Jerusalem walks us through how these two standards interact.
  • 4:20 - Leasing and the statement of cash flows. We cover the basics and then cover specifics on the cash flow presentation of lease activities under ASC 842.
  • 8:04 - Debt restructuring. Need a reminder of the 10% test and how to think about prepayable debt? Suzanne explains.
  • 11:04 - Foreign currency. We discuss under which scenarios it’s appropriate to release the cumulative translation adjustment following sales and purchases.
  • 12:45 - Standard setting. We provide an overview of the FASB’s open comment letters, including the balance sheet classification of debt exposure draft.

About our guests
Maria Constantinou is a PwC director who monitors the FASB’s standard-setting activities.
John Horan is a PwC managing director specializing in accounting for foreign currency.
Marc Jerusalem is a PwC director and leasing transaction specialist.
Suzanne Stephani is a PwC director and debt classification specialist.
About our host
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 over 25 years of experience, Heather’s accounting and auditing expertise includes financial instruments and rate-regulated accounting.

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