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Full disclosure: PPE, inventory, intangibles & goodwill
Publication date: 20 Jul 2021
us Podcast
Our summer series on presentation and disclosure continues with a focus on other assets—specifically PPE, inventory, intangibles, goodwill, and software.
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 other assets—specifically property, plant and equipment, inventory, intangible assets, goodwill, and capitalized software. Mike Coleman and Matt Sabatini, PwC National Office partners, are back in the guest seats to share some helpful insights with our host, Heather Horn.
Topics include:
- 1:29 - Property, plant and equipment (PPE). Matt explains the presentation and disclosure requirements for PPE and highlights key areas of focus for analysts.
- 8:29 - Inventory. Mike highlights the SEC’s and FASB’s presentation and disclosure rules, including where they differ depending on the costing method applied.
- 15:37 - Intangible assets and goodwill. Matt and Mike take us through the presentation and disclosure requirements for intangibles and goodwill, whether acquired through a business combination or an asset acquisition, and the related impairment assessments.
- 22:56 - Capitalized software. Mike breaks down the disclosure rules for capitalized software for both the sellers and buyers of internal and external use software.
- 27:41 - Standard setting. Matt and Mike update listeners on the FASB’s projects on goodwill, intangibles, and inventory disclosures.
- 30:17 - Key takeaways. Matt and Mike close with some final reminders.
About our guests
Mike Coleman is a partner in PwC's National Office with over 30 years of experience specializing in accounting for revenue and software arrangements. In addition, Mike has been one of the firm's representatives on the AICPA Software Task Force. Prior to his time in National, Mike was an audit partner in the firm's NY Metro assurance practice serving technology clients.
Matt Sabatini is a partner in PwC's National Office with nearly 20 years of experience helping clients and engagement teams navigate the accounting and financial reporting for complex transactions. He specializes in the accounting for M&A, corporate reorganizations, recapitalizations, joint ventures, and other investments.
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 nearly 30 years of experience, Heather’s accounting and auditing expertise includes financial instruments and rate-regulated accounting.
PwC. All rights reserved. PwC refers to the US member firm or one of its subsidiaries or affiliates, and may sometimes refer to the PwC network. Each member firm is a separate legal entity. Please see www.pwc.com/structure for further details. This content is for general information purposes only, and should not be used as a substitute for consultation with professional advisors.
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