Reporting reset – Presentation fundamentals

PwC's accounting podcast

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We kick off our latest accounting series focused on financial statement presentation and we go back to the basics. This first episode sets the stage by covering foundational reporting principles, key disclosure considerations, notable differences between public and private company financial statements, and accounting changes and error corrections.

In this episode, we discuss:

• 1:04 – Foundational GAAP and SEC requirements for financial statement presentation
• 2:46 – Determining appropriate reporting periods
• 5:01 – Balance sheet presentation: classification, required disclosures, and best practices
• 11:23 – Income statement presentation: structure and key considerations
• 21:10 – Accounting changes, estimates, and error corrections
• 31:50 – Subsequent events: recognition and disclosure

For more on this topic read the following chapters in our Financial statement presentation guide:

• Chapter 1: General presentation and disclosure requirements
• Chapter 2: Balance sheet
• Chapter 3: Income statement
• Chapter 28: Subsequent events
• Chapter 30: Accounting changes

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About our guest
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.

About our host
Guest host Diana Stoltzfus is a partner in the National Office who helps to shape PwC’s perspectives on regulatory matters, responses to rulemakings, and policy development, and implementation related to significant new rules and regulations. Prior to rejoining PwC, Diana was the Deputy Chief Accountant in the Office of the Chief Accountant (OCA) at the SEC where she led the activities of the Professional Practices Group within the OCA.

Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to [email protected].

章

1. Reporting reset – Presentation fundamentals (00:00:00)

2. Foundational GAAP and SEC requirements for financial statement presentation (00:01:04)

3. Determining appropriate reporting periods (00:02:46)

4. Balance sheet presentation: classification, required disclosures, and best practices (00:05:01)

5. Income statement presentation: structure and key considerations (00:11:23)

6. Accounting changes, estimates, and error corrections (00:21:10)

7. Subsequent events: recognition and disclosure (00:31:50)