Our PwC National Office partners discuss the FASB guidance effective in 2022 and FASB guidance that can be adopted early.
This week Heather Horn was joined by Bret Dooley, Angela Fergason, and Jay Seliber, partners in PwC’s National Office, to discuss the FASB’s recently released guidance that is effective in 2022.
In this episode you’ll hear them discuss:
  • 3:25 - CECL applicability for private companies and lessons learned from adoption by public companies
  • 5:34 - ASU 2020-06 related to debt and equity instruments that contain conversion features
  • 9:15 - ASU 2021-04 related to certain modifications of freestanding equity-classified written call options
  • 15:32 - ASU 2021-05 related to lessor classification of certain sales-type leases that result in a “day one” loss
  • 20:05 - ASU 2021-10 related to disclosures by business entities about government assistance
  • 29:01 - ASU 2021-08 related to contract assets and contract liabilities acquired in a business combination
  • 36:17 - ASU 2017-04 related to simplifying the test for goodwill impairment
  • 41:19 - New FASB guidance that can be adopted early in 2022

About our guests
Bret Dooley is a partner in PwC’s National Office with over 25 years of experience specializing in the financial services, banking, and capital markets industries. He focuses on emerging financial reporting issues relating to financial instruments, developing interpretive guidance, and assisting clients in resolving complex accounting matters.
Angela Fergason is a partner in PwC's National Office with over 20 years of experience who specializes in accounting for revenue and employee compensation arrangements. She is a frequent speaker on accounting and financial reporting topics and is a contributor to many PwC National Office publications, including our accounting guides on revenue and stock-based compensation.
Jay Seliber is a partner in PwC’s National Office. He leverages over 30 years of experience to help clients with their most complex accounting matters, particularly in the areas of mergers and acquisitions, revenue recognition, stock compensation, earnings per share, employee benefits, restructurings, impairments, and financing transactions. Jay is presently PwC's representative to the FASB's Emerging Issues Task Force.
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 30 years of experience, Heather’s accounting and auditing expertise includes financial instruments and rate-regulated accounting.
Transcripts available upon request. Please send requests to us_podcast@pwc.com.
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