Accounting Matters

Understanding DISE is one thing. Actually producing the disclosure every quarter is another. In the final episode of their three-part series, Embark's Nicole Harger and Adam Olsen are joined by David Bushby, who brings real-world perspective from working directly with public companies on DISE implementation. If your team is asking "where do we even start," this episode is the answer.In this episode:How to conduct a readiness assessment and gap analysis before your 2027 effective dateWho needs to be in the room: why finance, IT, HR, procurement, and operations all have a roleKey decisions to make early: cost-incurred vs. expense-incurred, selling expense definition, and voluntary disclosuresSystems and data challenges: fragmented ERPs, the retail inventory method, cost pools, and how to use estimates responsiblyInternal controls for a new disclosure: what needs to be in place before your first filingHow DISE interacts with segment reporting under ASC 280 and what to address in MD&AIndustry-specific pain points for retail, consumer products, manufacturing, life sciences, and techSix practical tips for first-year adoption, including why running a pilot in 2026 could save you significant headaches

If Episode 1 covered the "why" behind DISE, Episode 2 is where theory meets practice. Embark's Nicole Harger and Adam Olsen get into the technical details of all five required natural expense categories, working through the tricky classification questions companies are already bringing to their teams. This is the episode to bookmark when your client asks, "But where exactly does that go?"In this episode:The difference between natural and functional expense classification, and why it matters for your disclosurePurchases of inventory: what's included, what's excluded, and how intercompany transactions and inbound freight factor inCost-incurred vs. expense-incurred basis: what each means and why most companies will elect cost-incurredEmployee compensation: the ASC 718 definition of "employee," how to handle contractors and leased workers, and a practical approach to mixed workforcesDepreciation and intangible asset amortization: how to handle finance lease ROU assets, internal-use software, and the costs that look like amortization but aren'tDD&A for extractive industries, plus special considerations for asset-related costs, liability-related expenses, and reimbursement arrangementsHow to define selling expenses for your business, and why that definition has to hold up over time

The FASB just issued new guidance that will fundamentally change how public companies communicate about their cost structure. In the first episode of a three-part series, Embark's Nicole Harger and Adam Olsen break down ASU 2024-03, the Disaggregation of Income Statement Expenses (DISE) standard, and why companies need to start preparing now, even with a 2027 effective date on the horizon.This episode covers the foundation: the investor demand driving the standard, who it applies to, and what "relevant expense captions" actually mean for your financial reporting.In this episode:Why the FASB issued DISE and how it fits into a broader expense transparency initiative (alongside ASU 2023-07 and ASU 2023-09)Who is in scope: all public business entities, including broker-dealers, IPO-stage companies, and private companies whose financials appear in SEC filingsEffective dates: annual periods beginning after December 15, 2026; interim periods beginning after December 15, 2027What goes into the tabular footnote disclosure, including the five required natural expense categoriesHow to identify relevant expense captions, and the key exceptions and practical expedients that offer some relief

Collaboration arrangements are becoming more common across industries, from biotech partnerships to platform-sharing in tech. But when it comes to accounting, things get complicated fast.In this episode of Accounting Matters, Nicole Harger and Adam Olsen explore how to navigate ASC 808 and ASC 606. They cover:What qualifies as a collaborative arrangementHow to determine if (and when) ASC 606 appliesReal-world examples involving IP licenses, cost-sharing, and milestone paymentsThe role of customer relationships in collaboration agreementsDisclosure expectations and SEC hot buttonsCommon pitfalls and best practicesWhether you’re structuring a new deal or reviewing an existing one, this episode offers a practical roadmap to get the accounting right.

Join hosts Nicole Harger and Adam Olsen as they explore the intricacies of accounting for R&D costs. This episode covers the current U.S. GAAP treatment, challenges in the life sciences sector, and differences with IFRS. Discover potential changes from FASB and gain insights into how these accounting principles impact financial statements across industries. Perfect for professionals navigating the evolving landscape of R&D accounting.

In this episode of "Accounting Matters," hosts Nicole Harger and Adam Olsen explore the FASB's 2025 agenda, highlighting key projects aimed at modernizing financial reporting standards. They discuss the proposed overhaul of software cost accounting, the introduction of a framework for environmental credit programs, and long-awaited guidance on accounting for government grants. These initiatives reflect a shift towards greater transparency and decision-usefulness in financial statements, addressing real-world challenges faced by companies today. Tune in to understand how these changes could impact your organization's financial reporting practices.

Join hosts Nicole Harger and Adam Olsen as they explore the complex world of tariffs in this episode of Accounting Matters. Discover how global trade policies and tariffs are reshaping financial statements, supply chains, and pricing strategies. From the hardest-hit industries to strategic mitigation tactics, this episode provides valuable insights for navigating today's dynamic trade environment. Packed with in-depth analysis, it equips you with the knowledge to stay ahead in the financial landscape.

Join hosts Adam Olsen and Allison Bradshaw as they break down the EU's proposed Omnibus package in this episode of Accounting Matters. They explore the evolving landscape of sustainability reporting, including SEC climate rules, state regulations, and ISSB standards. Discover how these changes impact CSRD obligations, scoping, timing, and assurance requirements. Packed with insights, this episode equips you with the knowledge to navigate the future of sustainability reporting.

Join hosts Nicole Harger and Adam Olsen as they break down the key takeaways from the 2024 AICPA & CIMA Conference on Current SEC & PCAOB Developments! In this episode, they dive deep into the latest shifts in SEC & FASB priorities, the rising impact of AI on the accounting industry, and the evolving landscape of ESG reporting. Packed with expert analysis and actionable insights, we provide you with everything you need to stay ahead in accounting and finance.

Coming to you live from Workiva Amplify! Join your hosts Adam and Allison as they dive into the recent EFRAG study unpacking key findings from companies navigating their early implementation of the EU's CSRD.EFRAG Study on Early Implementation of ESRS

Your AM Now hosts Adam Olsen and Matt Fisser are back to bring you what’s happening in accounting and finance, including stories on:The FASB’s proposed ASU on the scope of derivative accounting and share-based payments from customers.The IASB’s recently completed review of IFRS 15 and IFRS for SMEs Accounting Standard along with some final decisions on their rate-regulated activities project.The recently released Exposure Draft proposing amendments to IFRS 19, Subsidiaries without Public Accountability: DisclosuresThe proposed inclusion of illustrative examples in the IFRS standards to enhance the reporting of climate-related and other uncertainties in financial statements.The recently released set of FAQs from the Greenhouse Gas Protocol to help companies in applying their standards.For more on this week’s topics:Proposed Accounting Standards Update, Derivatives and Hedging (Topic 815) and Revenue from Contracts with Customers (Topic 606)IFRS, Rate-Regulated ActivitiesIFRS Exposure Draft, Amendments to IFRS 19 Subsidiaries without Public Accountability: DisclosuresIFRS Exposure Draft, Climate-related and Other Uncertainties in the Financial StatementsGreenhouse Gas Protocol, ​​Corporate Standard Frequently Asked QuestionsConnect with Embark on: LinkedInInstagramTwitterFacebookYouTubeListen to AM Now on Apple Podcasts and Spotify.

Practical ways leaders can overcome the accountant shortage from 3 managing directors with direct experience.

Tune into Accounting Matters as we speak about ASU 2024-01. Adam and Nicole explore how the latest profits interest guidance impacts your business & provide results-driven approaches.

Make room for Adam Olsen and Matt Fisser as they discuss all of the recent accounting and finance stories you need to know, including:The FASB recently completed its Conceptual Framework with a new and final chapter on measuring assets and liabilities recognized in financial statements.Tentative decisions from the FASB on EITF issues centered on induced conversions of convertible debt instruments.Another FASB tentative decision, determining the acquirer in the acquisition of a VIE.Targeted amendments to the IASB’s IFRS standards on first-time adoption of IFRS, financial instruments, consolidated financial statements, and statement of cash flows.A Center for Audit Quality report found that 98% of companies disclosed some level of ESG-related information in 2022, 70% obtaining some degree of voluntary assurance.CA Governor Gavin Newsom proposed delaying the implementation of California Senate Bills 253 and 261 by two years, from 2026 to 2028.Discussion on the CrowdStrike/Windows outage and what it might mean for public companies subject to the SEC’s new cybersecurity disclosure rules.For more on this week’s topics:FASB Issues New and Final Chapter of Its Conceptual Framework: MeasurementFASB: Tentative Board Decisions 07-17-24 (induced conversions/VIE)IASB issues annual improvements to IFRS Accounting StandardsS&P 500 ESG Reporting and Assurance AnalysisAct to amend Sections 38532 & 38533 of the Health and Safety Code, relating to GHGPublic Company Cybersecurity Disclosures; Final RulesConnect with Embark on: LinkedInInstagramTwitterFacebookYouTubeListen to AM Now on Apple Podcasts and Spotify.

On today's Accounting Matters episode, we have an on-demand webinar with 2 ERP specialists who have worked on a collective 21 related projects. They will guide you though the ERP assessment process and best practices along the way.You can watch the full video here: https://www.linkedin.com/events/avoiderpregret-the25-failurerat7207077293142265858/theater/

Adam Olsen and Matt Fisser are here to dish all of the post-Fourth of July accounting & finance news you need to know, including:FASB’s plans to improve ASC 350-40, requiring an entity to use more judgment to determine when to recognize software costsProgress on FASB’s project for disaggregation of income statement expensesSneak peek at the AICPA’s update to their Valuation of Privately Held Company Equity Securities Issued as Compensation—aka the Cheap Stock Guide.Announced improvements to the SEC websiteNew interpretive guidance from the SEC to clarify its recent cybersecurity rulesIASB finalizing the revision of IFRS Practice Statement 1, Management CommentaryISSB’s plan to harmonize and consolidate the global sustainability disclosure landscape Update on the FTC rule effectively banning noncompete agreements in the USFor more on this week’s topics:FASB: Tentative Board Decisions, Accounting for and Disclosure of Software CostsFASB: Tentative Board Decisions, Disaggregation—Income Statement ExpensesWorking Draft of Chapters 8 and 9 from the Valuation of Privately-Held-Company Equity Securities Issued as Compensation Accounting and Valuation GuideSEC Updates Website to Improve Compliance, Functionality, and User ExperienceCyber Update: SEC Issues New Guidance on Cybersecurity Incident DisclosureIASB agrees to finalise the revision of the Management Commentary Practice StatementISSB delivers further harmonisation of the sustainability disclosure landscapeFederal judge partially blocks U.S. ban on noncompetesConnect with Embark on: LinkedInInstagramTwitterFacebookYouTubeListen to AM Now on Apple Podcasts and Spotify.

Your AM Now host Adam Olsen is back at it again, delivering critical accounting and finance stories to your eyes and ears, including:The 6/12 FASB meeting discussing its project on accounting for environmental credit programs (ECPs) as well as the Board’s agenda prioritization.FASB’s Emerging Issues Task Force (EITF) recent deliberations on the existing accounting guidance for the determination of an accounting acquirer.The European Council’s announcement on its agreement with proposals to cut down on greenwashing and false environmental claims,The new and impressive Workiva Carbon solution, designed to help companies enhance their existing ESG & Sustainability platform to support global climate regulations.For more on this week’s topics:FASB: Tentative Board Decisions, 6/12/24EITF 6/14 Meeting SummaryEU Council Agrees on New Rules to Tackle Greenwashing in Product Green ClaimsWorkiva Launches New Carbon Data Management and Reporting SolutionConnect with Embark on: LinkedInInstagramTwitterFacebookYouTubeListen to AM Now on Apple Podcasts and Spotify.

Your trusty AM Now hosts Adam Olsen and Matt Fisser are at it again, bringing you the accounting and finance stories you need to know, including:The SEC’s statement on IFRS 19 reducing disclosures for certain subsidiaries and the impact on SEC filings, including any additional disclosures likely required.The SEC provided relief to BF Borgers clients with additional time to hire a new public accountant and file quarterly and transition reports on their Form 10-Q given certain requirements.The IFRS Foundation’s updated guide on getting started on implementing the Integrated Reporting Framework and how to take account of the IFRS Sustainability Disclosure Standards.New ESMA guidelines on using ESG and sustainability-related terms in investment fund names.EFRAG’s compilation of 68 unique explanations to respond to various stakeholders’ technical questions on ESRS application required under the CSRD.For more on this week’s topics:Statement on the Application of IFRS 19, Subsidiaries without Public Accountability: Disclosures, in Filings with the SECSecurities Exchange Act of 1934, Release No. 34-100185 (BF Borgers)IFRS Foundation: Transition to integrated reportingESMA Guidelines establish harmonised criteria for use of ESG and sustainability terms in fund namesEFRAG Releases New ESRS Q And A Technical ExplanationsConnect with Embark on: LinkedInInstagramTwitterFacebookYouTubeListen to AM Now on Apple Podcasts and Spotify.

AM Now hosts Adam Olsen and Nicole Harger are back in the saddle, delivering this week’s most important accounting and finance stories, including:The FTC’s recent ruling essentially banning the use of non-compete agreements in nearly all instancesThe FASB discussion on disaggregating income statement expenses, its ASC 606 post-implementation review, and feedback on financial statement measurementIFRS 19—another new accounting standard from the IASBThe SEC’s action against audit firm BF Borgers for deliberately and systematically failing to meet PCAOB audit and review standardsTwo new research projects added to the ISSB’s list of prioritiesWant to completely transform your financial planning and decision-making? Then download our free resource, The CFO’s Guide to Implementing a Rolling Forecast, today.For more on this week’s topics:FTC Announces Rule Banning NoncompetesFASB: Tentative Board Decisions 05-08-24ISSB Explores Developing New Disclosure Standards for Biodiversity, Human CapitalIASB simplifies financial reporting for eligible subsidiary companies with new IFRS Accounting StandardSEC: Staff Statement on Issuer Disclosure and Reporting Obligations in Light of Rule 102(e) Order against BF Borgers CPA PCConnect with Embark on: LinkedInInstagramTwitterFacebookYouTubeListen to AM Now on Apple Podcasts and Spotify.

Join us on Accounting Matters for a conversation about the intricacies of accounting for crypto assets under the latest guidance from the Financial Accounting Standards Board, ASU 2023-08.Connect with Embark on:LinkedInInstagramTwitterFacebookYouTubeListen to Accounting Matters on Apple Podcasts and Spotify.

As always, your AM Now hosts Adam Olsen and Matt Fisser are here to deliver the recent accounting and finance stories you need to hear, including:A quick discussion on the hot-off-the-presses IFRS 18, Presentation and Disclosure of Financial Statements.The CSDDD was voted into adoption and will become law this year. Finally.A new guide from the IFRS Foundation and EFRAG to help companies navigate the new sustainability requirements.The FASB Private Company Council’s decision to pursue improvements to ASC 350-40, Internal-Use Software.Want to know the SEC’s final climate-related disclosure rules better? This webinar is for you:Meet the SEC’s Final Climate-Related Disclosure RulesFor more this week’s topics:IFRS 18 will improve communication in financial statementsEuropean Commission: Corporate sustainability due diligenceIFRS Foundation and EFRAG publish interoperability guidancePCC Meeting Recap: 4/18/2024Connect with Embark on: LinkedInInstagramTwitterFacebookYouTubeListen to AM Now on Apple Podcasts and Spotify.

Your trusty AM Now hosts Adam Olsen and Nicole Harger return with another batch of essential accounting and finance stories, including:Update on FASB’s discussion on accounting for government grantsAnother update from FASB, this time on ASC 815—Derivatives and HedgingFASB’s redeliberations on the Interim Reporting (Topic 270) ASUThe SEC’s adoption of amendments to a rule under the Investment Advisers Act of 1940The European Council’s official adoption of the revised Energy Performance of Buildings Directive (EPBD)For insights, tips, and a handy cash flow model template from Embark’s team of gurus:13-Week Cash Flow Forecast Model TemplateFor more this week’s topics:FASB—Accounting for Government GrantsFASB—Tentative Board Decisions, Topic 815 & Interim Reporting (4/10/24)Exemption for Certain Investment Advisers Operating Through the InternetQuestions and Answers on the revised Energy Performance of Buildings DirectiveConnect with Embark on: LinkedInInstagramTwitterFacebookYouTubeListen to AM Now on Apple Podcasts and Spotify.

You’ve read the headlines. Perused the articles. Maybe even had a convo or two on the topic. But now it’s time to get to the ESRS nitty gritty with your trusted Accounting Matters embarkers. So get comfy with Nicole Harger, Adam Olsen, and Robby Sunberg for this first half of a two-fer on all things CSRD and ESRS. You, your sustainability reporting, and stakeholders won’t be sorry.For more information on CSRD, ESRS, and related topics:The ESRS Skinny: What the European Sustainability Reporting Standards Mean for YouThe EU CSRD: Why US Companies Should Care about European ESG Reporting RegulationsSB 253 and SB 261: A Look at California's Landmark Climate Reporting BillsConnect with Embark on:LinkedInInstagramTwitterFacebookYouTubeListen to Accounting Matters on Apple Podcasts and Spotify.

Your AM Now hosts Adam Olsen and Nicole Harger are back again to deliver the recent accounting and finance stories you need to hear, including:Update on the legal proceedings surrounding the SEC’s climate-related disclosure rulesFASB has issued the first two Accounting Standards Updates of 2024FASB’s tentative decisions on its accounting for internal-use software costs projectUpdate on FASB’s proposal over disclosures of the disaggregation of income statement expenseThe SEC’s technical amendments in response to a Federal court's decision to vacate rule amendments on repurchases of an issuer’s equity securitiesFor insights and tips on ESG reporting from Embark’s team of specialists:ESG Reporting Best Practices: Implementation & BeyondFor more this week’s topics:The Case Against the SEC’s Final Climate Rules Begins in Earnest (and What It Means)FASB Accounting Standards Updates: 2024-01, 2024-02Accounting for and Disclosure of Software CostsTentative Board Decisions - Disaggregation of Income Statement ExpensesSEC: Share Repurchase Disclosure Modernization Final Rule; Technical AmendmentsConnect with Embark on: LinkedInInstagramTwitterFacebookYouTubeListen to AM Now on Apple Podcasts and Spotify.

Once again, your AM Now hosts Adam Olsen and Nicole Harger are here with the accounting and finance stories you don’t want to miss, including:The SEC adopted final climate disclosure rules after receiving 24,000 comments.The SEC's climate rule faces legal challenges from fracking companies and critics.FASAB proposes guidance for reporting seized and forfeited digital assets.Financial Accounting Foundations seeks feedback on the PCC's effectiveness.A Court declares the CTA unconstitutional, impacting reporting mandates.IASB proposes amendments to IFRS 3 to enhance acquisition and impairment reporting.Canadian Sustainability Standards Board proposes sustainability reporting standards, seeking feedback.For more information on these and related topics:SEC Adopts Rules to Enhance and Standardize Climate-Related Disclosures for InvestorsSEC climate disclosure rule faces legal gantletDigital assets addressed by FASABFAF Wants to Know How the Private Company Council Can Be More EffectiveCorporate Transparency Act Ruled UnconstitutionalIASB consults on proposals to improve reporting of acquisitionsCanada Releases Proposed IFRS-Based Sustainability Reporting StandardsConnect with Embark on: LinkedInInstagramTwitterFacebookYouTubeListen to AM Now on Apple Podcasts, Google Play, and Spotify.

In this episode of "Accounting Matters," we cover the unveiling of the SEC's long-awaited climate-related disclosure rule. Exploring its implications for businesses and investors alike, we dissect the significance of this regulatory milestone and its potential impact on financial reporting standards.

In this episode, we explore the impact of a significant FASB update, ASU 2023-07, on segment reporting standards. This update responds to investor demands for clearer financial transparency, introducing stricter disclosure rules for public entities.

As always, your AM Now hosts Adam Olsen and Nicole Harger are back with the week’s biggest accounting and finance stories, including:The 3/6 SEC meeting on the climate disclosure rulesRecap of the recent IFRS Sustainability SymposiumThe provisional agreement to establish an EU carbon removals certification frameworkAnti-greenwashing laws recently adopted by the European CouncilThe FASB’s recent board meeting discussing a final ASU on profits interest awardsFor more information on these and related topics:SEC Open Meeting Agenda, 3/6/2024IFRS Sustainability Symposium convenes in New York City as market participants get ready to use the ISSB StandardsClimate action: Council and Parliament agree to establish an EU carbon removals certification frameworkEU Adopts New Law to Protect Consumers Against Misleading Green ClaimsScope Application of Profits Interest Awards: Compensation—Stock Compensation (Topic 718)Connect with Embark on: LinkedInInstagramTwitterFacebookYouTubeListen to AM Now on Apple Podcasts, Google Play, and Spotify.

A lot goes into a successful business transaction. A lot. So in this first part of our latest M&A series, your faithful Embarkers are taking a deep dive into all of those pre-transaction activities that help ensure you start off on the right foot. A little bit of due diligence goes a long way so pull up a chair!For more information on buy-side transactions and related topics:Buy-Side Due Diligence: Report Checklist and Guide for M&A and Other TransactionsPurchase Accounting: Valuations, Adjustments & Accounting for M&AsPost-Merger Integration ChecklistConnect with Embark on:LinkedInInstagramTwitterFacebookYouTubeListen to Accounting Matters on Apple Podcasts, Google Play, and Spotify.

Just as you suspected, your AM Now hosts Adam Olsen and Matt Fisser are back to bring the accounting and finance news heat, including stories on:The SEC proposal on increasing the threshold for qualifying venture capital fundsThe Small Business Capital Formation Advisory Committee discusses updates to the Accredited Investor Definition and examines the current state of the IPO marketFinCEN's new BOI reporting requirement targets small businesses to enhance financial transparency, with certain exemptions and deadlines for compliance.The IASB delays the release of a new standard, expected to be IFRS 19, aimed at simplifying financial disclosures for subsidiaries without public accountability.Malaysia is considering adopting ISSB standards for sustainability reporting, seeking public feedback on implementation, with a phased approach for mandatory compliance.For more information on these and related topics:SEC Proposes Rule to Raise Threshold for Qualifying VC FundsAgenda - Meeting of SEC Small Business Capital Formation Advisory CommitteeBOI: Beneficial Ownership InformationMalaysia Launches Consultation on Adoption of IFRS Sustainability Reporting StandardsConnect with Embark on: LinkedInInstagramTwitterFacebookYouTubeListen to AM Now on Apple Podcasts, Google Play, and Spotify.

Join us on this episode of Accounting Matters as we discuss the complexities of the CSRD's double materiality framework. We dive into the significance of materiality in sustainability reporting. From understanding the dimensions to practical considerations in the assessment process, we guide our listeners through the intricate world of sustainability reporting under the CSRD.

Your AM Now hosts Adam Olsen and Nicole Harger are back at it again with critical accounting and finance stories from the week that was, including:Updates from the recent FASB Board meeting on Topic 815, Hedge Accounting ImprovementsNew York's S5437 and S897A bills push for pioneering sustainability disclosures in the finance and corporate sectors.China enforces sustainability reporting for all listed companies, setting a new global standard in ESG transparency.The SEC's new rules expand the 'dealer' definition, enhancing oversight of significant market participants for market integrity.For more information on these and related topics:FASB Board Meeting Handout – Topic 815—Hedge Accounting ImprovementsNY Senate Bill S897ANY Senate Bill S5437China Stock Exchanges Announce Mandatory Sustainability Reporting Requirements for CompaniesStatement on Final Rules Regarding the Further Definition of a Dealer-TraderConnect with Embark on: LinkedInInstagramTwitterFacebookYouTubeListen to AM Now on Apple Podcasts, Google Play, and Spotify.

It’s once again time for your AM Now hosts Adam Olsen and Matt Fisser to deliver what’s going on in accounting and finance this week, including stories on:The SEC adopted final rules to enhance disclosures and provide additional investor protections in IPOs by SPACs and in de-SPAC transactions.The postponement of certain CSRD elements by two years, including sector-specific sustainability disclosures and sustainability reporting from companies outside the EU. The latest developments from the FASB and their most recent board meeting held on January 31, 2024.For more information on these and related topics:SEC Adopts Rules to Enhance Investor Protections Relating to SPACs, Shell Companies, and ProjectionsEU lawmakers approve 2-year delay of CSRD reporting for non-EU companies and specific sectorsFASB Past MeetingsConnect with Embark on: LinkedInInstagramTwitterFacebookYouTubeListen to AM Now on Apple Podcasts, Google Play, and Spotify.

In this episode of 'Accounting Matters,' we guide private companies through key accounting developments, covering standards like CECL, simplified goodwill impairment, and supplier finance program disclosures. Additionally, we discuss what lies ahead in the new year.

Your trusty AM Now hosts Adam Olsen and Nicole Harger are serving up yet another episode of tasty accounting and finance stories for you, including:SEC registrants should expect a significant uptick in their Staff Accounting Bulletin SAB 74 disclosures due to the impending adoption of numerous Accounting Standard Updates (ASUs).EFRAG has initiated a public consultation on two Exposure Drafts – ESRS LSME ED and VSME ED – for sustainability reporting standards.EU member states are currently transposing the CSRD into their own national law and must complete the process no later than July 6th of this year. For more information on these and related topics:Segments, Taxes, SAB 74 and MoreEFRAG’s Public Consultation on Two Exposure Drafts on Sustainability Reporting Standards for SMEsFrance Introduces Possible Jail Time As Penalty For Non-Compliance With Sustainability DisclosureConnect with Embark on: LinkedInInstagramTwitterFacebookYouTubeListen to AM Now on Apple Podcasts, Google Play, and Spotify.

You’ve read the headlines. Perused the articles. Maybe even had a convo or two on the topic. But now it’s time to get to the ESRS nitty gritty with your trusted Accounting Matters embarkers. So get comfy with Nicole Harger, Adam Olsen, and Robby Sunberg for this first half of a two-fer on all things CSRD and ESRS. You, your sustainability reporting, and stakeholders won’t be sorry.For more information on CSRD, ESRS, and related topics:The ESRS Skinny: What the European Sustainability Reporting Standards Mean for YouThe EU CSRD: Why US Companies Should Care about European ESG Reporting RegulationsSB 253 and SB 261: A Look at California's Landmark Climate Reporting BillsConnect with Embark on:LinkedInInstagramTwitterFacebookYouTubeListen to Accounting Matters on Apple Podcasts, Google Play, and Spotify.

Your AM Now hosts Adam Olsen and Nicole Harger kick off 2024 with another episode of accounting and finance stories you need to hear, including:The invalidation of the SEC's share repurchase rule by the U.S. Court of Appeals.CorpFin’s statement on the SEC's cybersecurity disclosure rule.Two new accounting standards by FASB: ASU 2023-09, revising income tax disclosures, and ASU 2023-10, addressing accounting for and disclosure of crypto assets.The provisional agreement on the EU's Corporate Sustainability Due Diligence Directive, focusing on human rights and environmental impacts in business value chains.For more information on these and related topics:US court slaps down stock buyback rule over SEC 'defects'SEC: Cybersecurity DisclosureFASB: Accounting standards updates issued (2023)EU Lawmakers Reach Deal on New Environmental, Human Rights Sustainability Due Diligence LawConnect with Embark on: LinkedInInstagramTwitterFacebookYouTubeListen to AM Now on Apple Podcasts, Google Play, and Spotify.

In this episode of Accounting Matters, Adam and Nicole dissect California's Climate Accountability Package, focusing on Senate Bills 253 and 261. They unravel the mandatory disclosure of greenhouse gas emissions, including Scope 1, Scope 2, and Scope 3, for companies operating in the state. We provide valuable insights into compliance challenges, the role of the California Air Resources Board, and the implications of potential fines for noncompliance. Whether you're a seasoned professional or new to sustainability compliance, tune in for succinct discussions demystifying the intricate landscape of California's climate legislation.Connect with Embark on:LinkedInInstagramTwitterFacebookYouTubeListen to Accounting Matters on Apple Podcasts, Google Play, and Spotify.

In this episode of Accounting Matters, Adam and Nicole dive into the complexities of audit preparation for companies closing their books in 2023. Drawing from their extensive public accounting experience, they explore common challenges, such as headcount shortages and the impact of significant transactions on readiness. We also discuss the importance of documentation, effective auditor collaboration, and strategies to meet crucial deadlines. Whether you're a seasoned professional or new to the industry, tune in for valuable insights on navigating the intricate landscape of audit readiness and ensuring a smoother process for your company.Connect with Embark on:LinkedInInstagramTwitterFacebookYouTubeListen to Accounting Matters on Apple Podcasts, Google Play, and Spotify.

As always, your AM Now hosts Adam Olsen and Nicole Harger are here delivering this week’s accounting and finance news, including:The latest on the SEC’s still-brewing requirements on climate change disclosuresThe novel new proposed reporting framework from the AICPA for issuers of stablecoinsThe FASB adding a project to its technical agenda to refine the scope of ASC 815, Derivatives and HedgingFor more information on these and related topics:SEC Proposed Climate Change Disclosures Put CFOs Under the SpotlightNew proposed reporting framework from the AICPA for issuers of stablecoinsFASB: Tentative Board DecisionsConnect with Embark on: LinkedInInstagramTwitterFacebookYouTubeListen to AM Now on Apple Podcasts, Google Play, and Spotify.

In this episode of 'Accounting Matters,' we provide a thorough recap of the 2023 AICPA Conference on Current SEC and PCAOB Developments. So join us as we cover key insights such as risk assessment in financial reporting, high-quality accounting standards, and emerging trends in ESG reporting and more!Connect with Embark on:LinkedInInstagramTwitterFacebookYouTubeListen to Accounting Matters on Apple Podcasts, Google Play, and Spotify.

In this week's episode of AM Now, Matt Fisser takes the reins while Adam and Nicole attend the AICPA conference. Matt covers the SEC's emphasis on the statement of cash flows, emphasizing its integral role in financial statements and the need for consistent scrutiny and audit procedures. He also explores other topics, including the FASB's recent ASU on reportable segment disclosures, providing a breakdown of key requirements, including the disclosure of significant segment expenses and alignment with consolidated financial statements. Connect with Embark on: LinkedInInstagramTwitterFacebookYouTubeListen to AM Now on Apple Podcasts, Google Play, and Spotify.

Putting a bow on our deals lifecycle series, we're joined by Embark deals expert Brett John for a candid chat on crafting exit strategies. From initiating a sale to closing with confidence, we explore the practical steps and emotional roller coaster of letting go of a business. Learn about aligning objectives, negotiating terms, and the often overlooked importance of timing and employee consideration. This one’s a must-listen for anyone navigating the exhausting yet exhilarating complexities of a business exit.For more information on deals transactions and related topics:The Lowdown on Carve-Out Financial StatementsSell-Side Due Diligence Report Checklist and Guide for M&A and Other TransactionsWhen to Engage with a Valuation Services ProviderConnect with Embark on:LinkedInInstagramTwitterFacebookYouTubeListen to Accounting Matters on Apple Podcasts, Google Play, and Spotify.

Join your AM Now host Adam Olsen for another week of what’s happening in accounting and finance, including stories on:The strategic alliance between EFRAG and CDP (Carbon Disclosure Project) aimed at expediting the adoption of the ESRSNew plans from the GRI (Global Reporting Initiative) for its upcoming Sustainability Innovation Lab (SIL), marking a significant stride on the sustainability reporting frontThe November 8 FASB meeting on two key projects: Targeted improvements to the statement of cash flows, and Conceptual framework - MeasurementFor more information on these and related topics:The ESRS Skinny: What the European Sustainability Reporting Standards Mean for YouEFRAG and CDP announce cooperation to drive market uptake of European Sustainability Reporting StandardsSIL launch in Singapore: A major step forward in global sustainability reportingFASB: Tentative Board DecisionsConnect with Embark on: LinkedInInstagramTwitterFacebookYouTubeListen to AM Now on Apple Podcasts, Google Play, and Spotify.

Building on the eye-opening conversation we had in the first episode of our newest podcast series, this second episode cranks it up to 11. How is that even possible, you ask? Well, how about an in-depth, no-holds-barred look at what happens next once the diligence dust settles and the buyer and seller are both ready to move forward with the deal? Buckle up, folks, because this is a good one.For more information on post-diligence needs and related topics:M&A Data Integration Drives Successful TransactionsCash to Accrual: How to Convert to GAAP AccountingThe Ultimate Account Reconciliation Template and Best PracticesConnect with Embark on:LinkedInInstagramTwitterFacebookYouTubeListen to Accounting Matters on Apple Podcasts, Google Play, and Spotify.

Join Embarkers Adam Olsen and Nicole Harger for another spirited episode of AM Now, where they discuss important topics like:A three-judge panel recently concluded the SEC exhibited arbitrary and capricious behavior when enacting the share repurchase disclosure rulesThe SEC’s announcement concerning certain data quality matters on the labeling of income statement line itemsThe November 1 FASB board meeting, discussing the proposed profit interest awards ASU and government grants received by business entitiesFor more information on these and related topics:US court tells SEC to fix 'defective' share buyback ruleChanging Labels for the Same Reported Item on the Income Statement over Multiple PeriodsFASB: Tentative Board DecisionsConnect with Embark on: LinkedInInstagramTwitterFacebookYouTubeListen to AM Now on Apple Podcasts, Google Play, and Spotify.

Buckle up for an extra spooky serving of accounting and finance news from Embarkers Adam Olsen and Matt Fisser, including stories on:The European Parliament recently moving forward with the finalization of the first twelve sector-agnostic ESRSs following the close of the open-scrutiny periodAustralia and Brazil both advancing their use of the ISSB’s global baseline for sustainability reportingComments from the SEC on its ever-gestating climate-related reporting rule2024 examination priorities from the SECFor more information on these and related topics:Final adoption of ESRS a ‘game changer’ for mandatory reportingAustralia published ISSB-inspired draft sustainability reporting standardsBrazil Becomes First Country to Adopt Global ESG Reporting RulesSEC Chair Gensler Declines to Give Timeline for Final Climate Disclosure RuleSEC Division of Examinations Announces 2024 PrioritiesConnect with Embark on: LinkedInInstagramTwitterFacebookYouTubeListen to AM Now on Apple Podcasts, Google Play, and Spotify.

A lot goes into a successful business transaction. A lot. So in this first part of our latest M&A series, your faithful Embarkers are taking a deep dive into all of those pre-transaction activities that help ensure you start off on the right foot. A little bit of due diligence goes a long way so pull up a chair!For more information on buy-side transactions and related topics:Buy-Side Due Diligence: Report Checklist and Guide for M&A and Other TransactionsPurchase Accounting: Valuations, Adjustments & Accounting for M&AsPost-Merger Integration ChecklistConnect with Embark on:LinkedInInstagramTwitterFacebookYouTubeListen to Accounting Matters on Apple Podcasts, Google Play, and Spotify.