This podcast shares insights on income statement presentation and classification.
We continue our month of podcasts focused on financial statement presentation hot topics.
In this episode, host Heather Horn sits down with Pat Durbin, a deputy chief accountant in PwC’s National Office, and Felix Perez, a partner in PwC’s National Office specializing in SEC reporting, to discuss the significance of income statement presentation to the investor community and standard setters. Together, they break down key areas of judgment and the practical challenges involved in income statement presentation and classification.
In this episode, you’ll hear:
  • 1:34 - The significance of income statement presentation and classification in portraying financial performance, including general reporting considerations and the interaction between income statement presentation and non-GAAP metrics
  • 8:50 - The SEC's rules on the form and content of income statements, including considerations for financial institutions
  • 21:44 - Income and expense disaggregation reminders, including classification of operating versus non-operating expenses as well as considerations for cost of sales, depreciation, and amortization
  • 33:50 - The complexities of income statement classification in collaborative arrangements, discontinued operations, and impairments
  • 42:05 - An update on the FASB project on disaggregation of income statement expenses (DISE) project

For more information, read chapter 3 of our Financial statement presentation guide. Additionally, follow this podcast on your favorite podcast app for more episodes.
Pat Durbin is a Deputy Chief Accountant in PwC’s National Office. 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.
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. With over 30 years of experience, Heather’s accounting and auditing expertise includes financial instruments and rate-regulated accounting.
Felix Perez is a partner in PwC’s National Office specializing in SEC reporting. He has over 25 years of experience serving clients and engagement teams across financial services and technology sectors.
Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to
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