Accounting Matters

Just as they do every week, Embarkers Adam Olsen and Nicole Harger are here to deliver the accounting and finance news, including:A brief overview of the SEC’s most recent rule amendments governing beneficial ownership reportingTentative board decisions coming from the FASB’s October 11th meeting. Findings from the TCFD’s 2023 status report.For more information on these and related topics:SEC Fact Sheet: Modernization of Beneficial Ownership ReportingTentative Board Decisions: Wednesday, October 11, 2023 FASB Board MeetingTCFD Report Finds Sharp Increase in Company Disclosure of Climate Risks and OpportunitiesConnect with Embark on: LinkedInInstagramTwitterFacebookYouTubeListen to AM Now on Apple Podcasts, Google Play, and Spotify.

As promised, given the size and importance of the EU’s CSRD and ESRS – and what they might mean for your company and reporting – we’re coming back at you with part 2 of our discussion on this critical topic. So, as usual, find a comfy seat because Embarkers Nicole Harger, Adam Olsen, and Robby Sunberg are coming at you with a metric ton of invaluable insights.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.

Don’t fear, friends…Embarkers Adam Olsen and Matt Fisser are back with what’s going on in accounting and finance this week, including:ASU 2023-06, the FASB’s response to the SEC’s Disclosure Update and Simplification Initiative.The FASB’s Oct 4 meeting focused on two key items: Codification improvements and EITF Issue No. 23-A, “Induced Conversions of Convertible Debt Instruments.”California’s forward-looking, trend-setting climate reporting bills, SB 253 and SB 261.The final edition of the UK’s Transition Plan Taskforce (TPT) Disclosure Framework, aimed at establishing a top-tier standard for companies to develop and report their climate transition plans.For more information on these and related topics:ASU 2023-06: Disclosure RequirementsFASB October 4 Meeting HandoutSB 253 and SB 261: A Look at California's Landmark Climate Reporting BillsFCA welcomes the launch of the Transition Plan Taskforce Disclosure FrameworkConnect 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.

In this week’s episode of Accounting Matters, Embarkers Adam Olsen, Zac Smith, and Nicole Harger discuss a topic that’s been on a lot of CFOs’ minds lately – ASC 326, better known as CECL. This time, it’s private companies stepping into the batter’s box, and our resident GAAP gurus are here to provide all of the juicy details. So join in, won’t you?!For more information on CECL and related topics:Preparing for the Current Expected Credit Loss (CECL) ModelASU 2022-02: Financial Instruments, Credit LossesASC 326, Financial Instruments—Credit LossesConnect with Embark on:LinkedInInstagramTwitterFacebookYouTubeListen to Accounting Matters on Apple Podcasts, Google Play, and Spotify.

If you want to know what’s going on this week in accounting and finance, Adam Olsen and Nicole Harger have your back with some critical updates, including:An update on the tentative FASB board decisions on its project focused on the accounting for and disclosure of software costs.Decisions from the Emerging Issues Task Force (“EITF”) that, if a consensus is reached, would require entities to apply the pre-existing contract approach when accounting for induced conversions of cash convertible debt instrumentsThe SEC’s issuance of their fund “names rule” amendmentsFor more information on these and related topics:Accounting for and Disclosure of Software CostsInduced Conversions of Convertible Debt InstrumentsSEC Enhances Rule to Prevent Misleading or Deceptive Fund NamesConnect with Embark on: LinkedInInstagramTwitterFacebookYouTubeListen to AM Now on Apple Podcasts, Google Play, and Spotify.

Want to know what’s happening in accounting and finance today? Then join Adam Olsen and Nicole Harger for this episode of AM Now, where they discuss:CA SB 253 and SB 261, requiring certain U.S. companies to disclose their complete GHG emissions across their value chains as well as climate-related risks The EU Commission consultation to enhance sustainable financial disclosure practices, particularly focusing on the Sustainable Finance Disclosure Regulation (SFDR)The IASB announcement on proposed changes to IFRS Accounting Standards, aimed at improving clarity and addressing minor unintended issues within the regulationsThe proposed rule and form amendments from the SEC on enhancing filer access to and management of accounts on the EDGAR systemFor more information on these and related topics:California Governor Commits to Sign Climate Disclosure Bills into LawTargeted consultation on the implementation of the Sustainable Finance Disclosures Regulation (SFDR)SEC Proposes Improvements to EDGAR Filer Access and Account ManagementConnect with Embark on: LinkedInInstagramTwitterFacebookYouTubeListen to AM Now on Apple Podcasts, Google Play, and Spotify.

As comprehensive as your financial reporting should be, it’s not the end-all-be-all. In fact, as we dicsuss in this episode of the Accounting Matters podcast, plenty can slip through the GAAP cracks, making non-GAAP measures/disclosures critical for stakeholders. So join us for a lively convo on these measures, including some key best practices and insights from Embark’s troop of SEC reporting dynamos.For more information on non-GAAP financial measures and related topics:SEC: Non-GAAP MeasuresGet to Know SEC Reporting Requirements: Forms, Disclosures, and MoreYour First SEC Filing: Get to Know the S-1Connect with Embark on:LinkedInInstagramTwitterFacebookYouTubeListen to Accounting Matters on Apple Podcasts, Google Play, and Spotify.

Pull up a chair, good friend, because Embarker Matt Fisser is back with even more news from the accounting and finance world, including:The FASB Board’s recent deliberation on accounting for and disclosing crypto assets, also confirming the scope of the proposed ASUThe SEC’s Division of Corporate Finance released an illustrative letter with sample comments to guide companies in their use of XBRL and Inline XBRLFor more information on these and related topics:FASB Project Update: Accounting for and Disclosure of Crypto AssetsSEC: Sample Letter to Companies Regarding Their XBRL DisclosuresConnect with Embark on: LinkedInInstagramTwitterFacebookYouTubeListen to AM Now on Apple Podcasts, Google Play, and Spotify.

Have a seat for another week of updates from the accounting & finance world, where Embarkers Adam Olsen and Matt Fisser discuss topics like:An investor coalition with >$1B assets recently urged the International Sustainability Standards Board (ISSB) to prioritize human capital and human rights in its next round of global reporting standards.The FASB‘s recent board meeting, discussing one of its key projects on its technical agenda – improvements to income tax disclosures. A new chapter in the FASB’s Conceptual Framework on recognizing and derecognizing items in financial statements.For more information on these and related topics:Investors Urge ISSB to Develop Reporting Standard for Human Rights and Human CapitalFASB Tentative Board Decisions 08/30/23: Improvements to Income Tax DisclosuresConceptual Framework for Financial Reporting, Chapter 5, Recognition and DerecognitionConnect with Embark on: LinkedInInstagramTwitterFacebookYouTubeListen to AM Now on Apple Podcasts, Google Play, and Spotify.

The digital world is bananas. You’ve seen The Matrix, right? Countless bad peeps with bad intentions, all staring lovingly at your critical business data – and not in a good way. So join us for this very special episode of the Accounting Matters podcast as we dive into the new SEC cybersecurity rules, why they’re so essential, and, perhaps most importantly, what they mean for your company and financial reporting.For more information on the SEC cybersecurity rules:Understanding the SEC Cybersecurity Rules and What They Mean for CompaniesSEC Adopts Rules on Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure by Public CompaniesSEC: Cybersecurity Risk Management, Strategy, Governance, and Incident DisclosureConnect with Embark on:LinkedInInstagramTwitterFacebookYouTubeListen to Accounting Matters on Apple Podcasts, Google Play, and Spotify.

Guess what? Embarkers Adam Olsen and Nicole Harger are back at it with this week’s goings-on in accounting and finance, including:The FASB’s recent Accounting Standards Update 2023-05 aimed at enhancing transparency and consistency in financial reporting for joint ventures.New SEC rules and amendments under the Advisers Act designed to provide better safeguards for investors and ensure greater transparency in the private fund sector.The SEC’s announcement on reopening the comment period for its "Safeguarding Advisory Client Assets" proposal.For more information on these and related topics:FASB: ASU 2023-05, Business Combinations–Joint Venture FormationsSEC Enhances the Regulation of Private Fund AdvisersSEC: Safeguarding Advisory Client Assets; Reopening of Comment PeriodConnect with Embark on: LinkedInInstagramTwitterFacebookYouTubeListen to AM Now on Apple Podcasts, Google Play, and Spotify.

Join AM Now hosts Adam Olsen and Nicole Harger for another dose of what’s happening in accounting and finance these days, including:Highlights from the recently released third annual FASB Investor Outreach Report, which sheds light on the Financial Accounting Standards Board's engagement with investors Overview of the EU's Carbon Border Adjustment Mechanism (CBAM) and the European Commission’s new reporting rules for importers involved in CBAMThe future of the SASB Standards amidst the recent advancements by the ISSB’s IFRS S1 and S2For more information on these and related topics:The FASB Investor Outreach Report, 2022-2023Commission adopts detailed reporting rules for the Carbon Border Adjustment Mechanism’s transitional phaseFuture of the SASB Standards: What you need to know for 2023 disclosureConnect with Embark on: LinkedInInstagramTwitterFacebookYouTubeListen to AM Now on Apple Podcasts, Google Play, and Spotify.

Startups have a lot going on. A lot. But all the growth in the world won’t matter if you aren’t building a solid accounting and reporting foundation. Enter our new Start-Up Company Series of episodes, focusing on financial reporting basics – the balance sheet this go-around. So join Embarkers Adam Olsen, Zac Smith, and Mack Martinez for insights, tips, and best practices specifically for startups. Dig in!For more information on startup- and reporting-related topics:6 Ways to Improve the Reporting Side of Your Record to Report ProcessChart of Accounts Examples, Template, and TipsManaging Growth: 7 Critical Questions CFOs Should AskConnect with Embark on:LinkedInInstagramTwitterFacebookYouTubeListen to Accounting Matters on Apple Podcasts, Google Play, and Spotify.

To state the obvious, rev rec has some teeth. But construction and engineering companies face even more potential potholes than most thanks to a nuanced industry filled to the brim with complex contracts. That's why Embarkers Adam Olsen, Zac Smith, and Donald Thomas devoted an entire Accounting Matters episode on 606 issues for construction and engineering companies. Enjoy!For more information on ASC 606 and related topics:Navigating ASC 606 Revenue Recognition: A Comprehensive Guide for CFOsASC 606, Revenue from Contracts with CustomersFor more information on carbon accounting and related topics:Carbon Credit Accounting: Considerations for Environmental CreditsWhy ESG Is So Important to Your Organization's FutureESG Reporting Best Practices: Implementation & BeyondGHG Inventory Development Process and GuidanceConnect with Embark on:LinkedInInstagramTwitterFacebookYouTubeListen to Accounting Matters on Apple Podcasts, Google Play, and Spotify.

Once again, AM Now hosts Adam Olsen and Matt Fisser are here to deliver news from the accounting and finance world, including:Warnings from the PCAOB and SEC on “assurance” work for crypto companiesThe IASB recently released amendments to IAS 21, the effects of changes in foreign exchange ratesThe IAASB’s unanimous thumbs up to the ISSA 5000 draft, General Requirements for Sustainability Assurance EngagementUpdate on the two key California bills on climate reporting, SB 253 and SB 261For more information on these and related topics:SEC: The Potential Pitfalls of Purported Crypto “Assurance” WorkIFRS Project: Lack of Exchangeability (Amendments to IAS 21)Understanding International Standard on Sustainability Assurance 5000California Emissions Reporting Bill Would Go Further Than SECConnect with Embark on: LinkedInInstagramTwitterFacebookYouTubeListen to AM Now on Apple Podcasts, Google Play, and Spotify.

Your AM Now hosts Adam Olsen and Matt Fisser are back this week to deliver more news from the accounting & finance world, including:The finalization of the European Sustainability Reporting Standards (ESRS)ISSB on the importance of interoperability between climate disclosure standardsUK plans to create Sustainability Disclosure Standards (UK SDS)Final rule on cybersecurity from the SECMore on the FASB project on the disaggregation of certain income statement expensesFor more information on these and related topics:The Commission adopts the European Sustainability Reporting StandardsEuropean Commission, EFRAG and ISSB confirm high degree of climate-disclosure alignmentUK Sustainability Disclosure StandardsSEC Adopts Rules on Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure by Public CompaniesFASB: Disaggregation—Income Statement ExpensesConnect with Embark on: LinkedInInstagramTwitterFacebookYouTubeListen to AM Now on Apple Podcasts, Google Play, and Spotify

Building on our recent “GHG 101 – Introduction to Carbon Accounting” episode, Embarkers Adam Olsen, Zac Smith, and Fabian Garavito roll up their sleeves a bit higher this week. Want to know what emission factors involved in GHG (greenhouse gas) accounting and reporting mean for your accounting and reporting functions going forward? You came to the right place…so dig in!For more information on carbon accounting and related topics:Carbon Credit Accounting: Considerations for Environmental CreditsWhy ESG Is So Important to Your Organization's FutureESG Reporting Best Practices: Implementation & BeyondGHG Inventory Development Process and GuidanceConnect with Embark on:LinkedInInstagramTwitterFacebookYouTubeListen to Accounting Matters on Apple Podcasts, Google Play, and Spotify.

Once again, your AM Now hosts Adam Olsen and Nicole Harger are here to discuss recent accounting news, including:Newest update from the FASB, ASU 2023-03SEC sample letter on China-related disclosuresESMA on sustainability disclosures in prospectusesISSB proposed IFRS sustainability disclosure taxonomyIOSCO’s key endorsement of the ISSB’s sustainability-related financial disclosuresFor more information on these and related topics:FASB: Accounting Standards Update No. 2023-03SEC: Sample Letter to Companies Regarding China-Specific DisclosuresESMA provides insights into the expected sustainability disclosures in prospectusesISSB to publish Proposed IFRS Sustainability Disclosure TaxonomyIFRS Sustainability Disclosure Standards endorsed by international securities regulatorsConnect with Embark on: LinkedInInstagramTwitterFacebookYouTubeListen to AM Now on Apple Podcasts, Google Play, and Spotify.

As if ASC 606 wasn’t complicated and challenging enough! Software companies face even higher hurdles than most thanks to a nuanced industry filled to the brim with complex arrangements. But have no fear because Embarkers Adam Olsen, Zac Smith, and Donald Thomas have your back in this episode of the Accounting Matters podcast, packed with insights and best practices to ease your rev rec woes.For more information on ASC 606 and related topics:Navigating ASC 606 Revenue Recognition: A Comprehensive Guide for CFOsASC 606, Revenue from Contracts with CustomersConnect with Embark on:LinkedInInstagramTwitterFacebookYouTubeListen to Accounting Matters on Apple Podcasts, Google Play, and Spotify.

Ready for some hot accounting topics? Join hosts Adam Olsen and Matt Fisser as they discuss what’s happening in accounting these days, including:Recent money market reforms from the SECThe SEC’s proposed amendments to broker-dealersThe GASB’s newly published guide on leases and IT subscriptions For more information on these and related topics:SEC Adopts Money Market Fund Reforms and Amendments to Form PF Reporting SEC Proposes Rule Amendments to the Broker-Dealer Customer Protection RuleGASB, Implementation Guide No. 2023-1Connect with Embark on: LinkedInInstagramTwitterFacebookYouTubeListen to AM Now on Apple Podcasts, Google Play, and Spotify.

AM Now hosts Adam Olsen and Nicole Harger are at it again, delivering yet another round of critical updates from the accounting world, including:The FASB’s proposed standard update to improve the accounting for purchased financial assets under ASC 326A quick recap of the recent Private Company Council (PCC) meeting held at the end of JuneThe IFRS Foundation takes over the monitoring of sustainability reporting progress from the TCFD. For more information on these and related topics:Proposed Accounting Standards Update, Financial Instruments—Credit Losses (Topic 326)PCC Meeting RecapIFRS to Take Over Responsibilities of the TCFDConnect with Embark on: LinkedInInstagramTwitterFacebookYouTubeListen to AM Now on Apple Podcasts, Google Play, and Spotify.

Are you a public entity? And have you acquired – or will acquire – a significant business? Well, then do we have a stout SEC reg for you. Meet S-X Rule 3-05, a key piece of regulation registrants must know to file financial statements for an acquired business. And wouldn’t you know it – Embarkers Adam Olsen and Zac Smith cover that very topic on this episode of Accounting Matters. So pull up a seat and join us!For more information on S-X Rule 3-05 and acquisitions:Financial Disclosures about Acquired and Disposed BusinessesPurchase Accounting: Adjustments & Accounting for M&AsAccounting for Asset Acquisitions vs. Business Combinations: Sweat the DetailsConnect with Embark on:LinkedInInstagramTwitterFacebookYouTubeListen to Accounting Matters on Apple Podcasts, Google Play, and Spotify.

AM Now hosts Nicole Harger and Matt Fisser break down this week’s news on the accounting front, including:The IFRS announced it officially launched its new global sustainability and climate disclosure standards (GSCR).The SEC reopened its comment period for its proposed rule on position reporting of large security-based swap positions.PCAOB issues a proposal to bring greater clarity to certain auditor responsibilities when using technology-assisted analysisA summary of the recent Audit Committee Spotlight issued by the PCAOBFor more information on these and related topics:IFRS Releases Global Sustainability and Climate Reporting StandardsSEC Reopens Comment Period for Position Reporting of Large Security-Based Swap PositionsPCAOB on improved audit clarity when using technology-assisted analysisPCAOB: June 2023 Spotlight, Audit Committee ResourceConnect with Embark on: LinkedInInstagramTwitterFacebookYouTubeListen to AM Now on Apple Podcasts, Google Play, and Spotify.

Accounting for GHG (greenhouse gasses) is exactly how you think it is – unfamiliar and complex. And, like it or not, it’s going to be a requirement for many businesses soon. So join Embarkers Adam Olsen, Zac Smith, and Fabian Garavito for a discussion on carbon accounting, the common frameworks and disclosures in place, and what you need to do to help your business capture and report the right data.For more information on carbon accounting and related topics:Carbon Credit Accounting: Considerations for Environmental CreditsWhy ESG Is So Important to Your Organization's FutureESG Reporting Best Practices: Implementation & BeyondGHG Inventory Development Process and GuidanceConnect with Embark on:LinkedInInstagramTwitterFacebookYouTubeListen to Accounting Matters on Apple Podcasts, Google Play, and Spotify.

In this episode of AM Now, hosts Adam Olsen and Matt Fisser cover a veritable potpourri of accounting news, including:The SEC spring 2023 reg-flex update on the expected timing of the final climate change disclosure rule, ESG investment practices, cyber risk disclosures, and moreContinued discussions from the EITF on its recently added project, EITF Issue No. 23-A: Induced Conversions of Convertible Debt Instruments. The ISSB is working towards issuing its first two sustainability standards IFRS S1 and IFRS S2 by the end of this monthRecently issued observations from the PCAOB related to public company audits involving crypto assetsFor more information on these and related topics:SEC Spring 2023 Reg-Flex AgendaInduced Conversions of Convertible Debt Instruments (EITF Issue No. 23-A)IFRS: General Sustainability-related DisclosuresPCAOB: Inspection Observations Related to Public Company Audits Involving Crypto AssetsConnect with Embark on: LinkedInInstagramTwitterFacebookYouTubeListen to AM Now on Apple Podcasts, Google Play, and Spotify.

In this episode of AM Now, your hosts Adam Olsen and Nicole Harger dive deep into this week’s accounting news, including:The FASB describes a reporting entity in the recently released Chapter 2 of the Conceptual Framework.The SEC adopting three rules, two relating to the securities-based swaps markets and another removing and replacing references to credit ratings from existing exceptions in Rule 101 and Rule 102 of Regulation MThe PCAOB issuing a proposal to increase auditor vigilance against fraud and other forms of noncompliance with laws and regulationsThe new Forum ISSB Preparers Group and the European Commission publishing the draft of the first set of ESRSFor more information on these and related topics:FASB Issues New Chapter of its Conceptual Framework: The Reporting EntitySEC Adopts Rules to Prevent Fraud in Connection with Security-Based Swaps Transactions and Prevent Undue Influence over CCOsSEC Adopts Amendments to Remove References to Credit Ratings From Regulation MWorld Economic Forum and ISSB Partner to Compile Learnings on Early Sustainability Reporting EffortsConnect with Embark on: LinkedInInstagramTwitterFacebookYouTubeListen to AM Now on Apple Podcasts, Google Play, and Spotify.

Making the switch from cash to accrual accounting is like being called up to the majors – it’s a big deal. To help you with that transition, Embarkers Adam Olsen, Zac Smith, and Mack Martinez take a deep dive into the process in this episode of Accounting Matters. So dig in, because some prime-grade insights and best practices are heading your way.For more information on accrual accounting and related topics:Cash to Accrual: How to Convert to GAAP AccountingNavigating ASC 606 Revenue Recognition: A Comprehensive Guide for CFOsConnect with Embark on:LinkedInInstagramTwitterFacebookYouTubeListen to Accounting Matters on Apple Podcasts, Google Play, and Spotify.

As always, you’re trusty AM Now hosts, Adam Olsen and Matt Fisser, are here to discuss this week’s accounting news, including:The IASB’s new disclosure requirements to enhance the transparency of supplier finance arrangements, including effects on a company’s liabilities, cash flows, and exposure to liquidity risk.The GASB recently adding a new project to its technical agenda, focusing on the accounting for infrastructure assets. The SEC dropping the hammer with security law violations on Coinbase as well as Binance and its founder.For more information on these and related topics:IASB Increases Transparency of Companies’ Supplier FinanceGASB Adds Project on Infrastructure Assets to Current Technical AgendaSEC Charges Coinbase for Operating as an Unregistered Securities Exchange, Broker, and Clearing AgencySEC Files 13 Charges Against Binance Entities and Founder Changpeng ZhaoConnect with Embark on: LinkedInInstagramTwitterFacebookYouTubeListen to AM Now on Apple Podcasts, Google Play, and Spotify.

Accounting for environmental credits might not make splashy headlines but that doesn’t mean they aren’t important. Soon to be critical, in fact. So join Embarkers Adam Olsen, Zac Smith, and Nicole Harger for this area of accounting that’s playing an increasingly vital role in an ESG-dominated landscape for CFOs and their teams.For more information on accounting for environmental credits and related topics:Carbon Credit Accounting: Considerations for Environmental CreditsFASB Project Update: Accounting for Environmental Credit ProgramsMaking Sense of the SEC's Climate Change Disclosure ProposalConnect with Embark on:LinkedInInstagramTwitterFacebookYouTubeListen to Accounting Matters on Apple Podcasts, Google Play, and Spotify.

Join AM Now hosts Adam Olsen and Nicole Harger for a lively discussion on what’s happening in the accounting world this week, including:The FASB’s tentative board decisions relating to its proposed accounting standard update for disclosure improvementsThe International Sustainability Standards Board’s (ISSB) consultation on agenda prioritiesThe International Auditing and Assurance Standards Board’s (IAASB) proposed revisions for their audit standard on going concernChatGPT-4’s successful crack at the CPA examFor more information on these and related topics:Disclosure Improvements in Response to the SEC’s Release on Disclosure Update and SimplificationISSB Consultation on Agenda PrioritiesIAASB Opens Public Consultation for Its Revised Going Concern StandardChatGPT Passes CPA Exam on V. 4.0Connect with Embark on: LinkedInInstagramTwitterFacebookYouTubeListen to AM Now on Apple Podcasts, Google Play, and Spotify.

In another gangbuster of an AM Now episode, your hosts Adam Olsen and Nicole Harger discuss what’s happening this week in the accounting world, including:An overview of the FASB’s newest proposed standard on accounting for profits interest awardsA summary of the topics discussed and outcomes from the Private Company Council’s most recent meeting, including software costs, crypto assets, stock comp disclosures, and moreRecent SEC developments on Form PF and disclosures related to issuers’ share repurchasesThe ISSB’s recent exposure draft on its proposed methodology for amending the non-climate-related SASB Standards metricsFor more information on these and related topics:FASB Issues Proposal to Clarify Accounting Guidance Related to Profits Interest AwardsPCC April 25, 2023 Meeting RecapSEC Adopts Amendments to Enhance Private Fund ReportingSEC Adopts Amendments to Modernize Share Repurchase DisclosureISSB Exposure DraftConnect with Embark on: LinkedInInstagramTwitterFacebookYouTubeListen to AM Now on Apple Podcasts, Google Play, and Spotify.

Manual processes are every finance organization’s kryptonite – slow, tedious, susceptible to errors and inaccuracies. But as Embarkers Adam Olsen, Zac Smith, and Hayden McHan discuss in this episode of Accounting Matters, Alteryx puts those issues to rest with automated efficiencies that your people, stakeholders, and auditors will all love.For more information on Alteryx and automation:Alteryx for Accounting: The Future of the Finance OrganizationEnhancing Your Accounting Function through Data Analytics and AutomationThe Business Intelligence Revolution: The Road to Data-Driven Decision MakingConnect with Embark on:LinkedInInstagramTwitterFacebookYouTubeListen to Accounting Matters on Apple Podcasts, Google Play, and Spotify.

In this week’s AM Now, hosts Adam Olsen and Matt Fisser cover a veritable cornucopia of accounting topics, including:The FASB added a new project to its Emerging Issues Task Force – induced conversion accounting on certain settlements of convertible debt instruments that occur on terms that differ from the stated contractual conversion provisions. Now that’s a mouthful.The SEC’s recently issued investor bulletin highlighting the ongoing transition from LIBORThe SEC extended the time period for its review of proposed rule changes by national exchanges relating to executive incentive compensation clawbacks. A slew of sustainability reporting updatesSo join the fun!ESG Reporting Best Practices: Implementation & BeyondInduced Conversions of Convertible Debt Instruments (EITF Issue No. 23-A)What You Need to Know About the End of LIBOR – Investor BulletinSEC Extends Time for Review of NYSE and Nasdaq Clawback-Related Listing StandardsConnect with Embark on: LinkedInInstagramTwitterFacebookYouTubeListen to AM Now on Apple Podcasts, Google Play, and Spotify.

A bit mystified by EXtensible Business Reporting Language, aka XBRL? Then you’re in the right place, because Embarkers Adam Olsen, Zac Smith, and Sarah Keiffer just took a deep dive into all things XBRL, discussing the who, what, where, when, and why behind this curious but impactful little reporting acronym. So come along for the ride, shall you?!For more information on XBRL and related topics:XBRL: The Business Reporting StandardXBRL US Center for Data QualityPublic Company Financial Reporting & Disclosure RequirementsConnect with Embark on:LinkedInInstagramTwitterFacebookYouTubeListen to Accounting Matters on Apple Podcasts, Google Play, and Spotify.

Join hosts Adam Olsen and Nicole Harger for this week’s AM Now where they discuss:NASBA changing its Uniform Accountancy Act Model Rules, increasing the time a CPA candidate has to complete the exam after passing the first section from 18 months to 30 monthsA recent PCAOB report discussing the importance of a more skeptical eye when auditing a company’s financialsAs ubiquitous and successful as ChatGPT has been recently, the technology averaged a mere 47% on accounting exams according to a recent studyFor more information on these topics:NASBA Announces Historic Rule Amendment Following Record Exposure Draft ResponsePCAOB – Professional Competence and Skepticism Are Essential to Quality AuditsThe ChatGPT Artificial Intelligence Chatbot: How Well Does It Answer Accounting Assessment Questions?Connect with Embark on: LinkedInInstagramTwitterFacebookYouTubeListen to AM Now on Apple Podcasts, Google Play, and Spotify.

This week in AM Now, Embarkers Adam Olsen and Matt Fisser discuss what’s happening on the accounting and finance front, including:The PCAOB’s ongoing concerns over audit quality and how they’ll address them in their 2023 inspection plans.The SEC just reopened the comment period for its proposed amendments to the definition of “exchange” under the Exchange Act in light of crypto assets and DeFi systemsFor more information on these topics:2023 Inspections to Prioritize Audit Risks Related to Fraud, the Financial Services Sector, CryptoCrypto Accounting: Decrypting Digital Assets for CFOs and CAOsSEC Reopens Comment Period for Proposed Amendments to Exchange Act Rule 3b-16 and Provides Supplemental InformationConnect with Embark on: LinkedInInstagramTwitterFacebookYouTubeListen to AM Now on Apple Podcasts, Google Play, and Spotify.

In the latest episode of your favorite accounting podcast, Accounting Matters hosts Adam Olsen and Zac Smith dissect the SEC’s final rule on pay vs. performance. Executive comp is a hot button issue sitting under a hot spotlight – and that’s an awful lot of hotness. So pull up a seat, registrants, because this is an important one you’re going to want to take notes on.For more information on pay vs. performance and related topics:SEC Adopts Pay Versus Performance Disclosure RulesHow to Choose the Right Stock Comp Accounting SoftwareBest Practices for Choosing & Maintaining a Stock Comp PlanConnect with Embark on:LinkedInInstagramTwitterFacebookYouTubeListen to Accounting Matters on Apple Podcasts, Google Play, and Spotify.

Join Embarkers Adam Olsen and Nicole Harger for this week’s AM Now, where they discuss what’s going on in the world of accounting and finance, including:The FASB’s proposed ASU on joint venture formationsUpdate on potential recognition and measurement models on accounting for software costsISSB transition relief for IFRS S1, the general requirement disclosure for sustainability-related financial informationThirsty for more knowledge? Then check out these other resources on related topics: ASC 805, Business CombinationsExecutive Clawbacks: How the SEC Ruling Impacts CompensationAccounting for Shiny New Software, Cloud, and Website Tech CostsExposure Draft – IFRS S1Connect with Embark on: LinkedInInstagramTwitterFacebookYouTubeListen to AM Now on Apple Podcasts, Google Play, and Spotify.

In this week’s AM Now, Embarkers Adam Olsen and Matt Fisser discuss what’s going on in the world of accounting and finance, including:ASU 2023-02, Accounting for Investments in Tax Credit Structures Using the Proportional Amortization MethodUpdates on FASB projects – the conceptual framework (reporting entity), income statement expense disaggregation, and credit losses for acquired financial assetsCOSO guidance on effective internal controls over sustainability reporting (ICSR)But why stop there? Check out some additional resources on these and other related topics:ASU 2023-02, Investments—Equity Method and Joint VenturesCECL – Private Companies, It’s Your Turn NowPreparing for the Current Expected Credit Loss (CECL) ModelCOSO – Achieving Effective Internal Control Over Sustainability Reporting (ICSR)Connect with Embark on: LinkedInInstagramTwitterFacebookYouTubeListen to AM Now on Apple Podcasts, Google Play, and Spotify.

In this week’s episode of Accounting Matters, Embarkers Adam Olsen, Zac Smith, and Nicole Harger discuss a topic that’s been on a lot of CFOs’ minds lately – ASC 326, better known as CECL. This time, it’s private companies stepping into the batter’s box, and our resident GAAP gurus are here to provide all of the juicy details. So join in, won’t you?!For more information on CECL and related topics:Preparing for the Current Expected Credit Loss (CECL) ModelASU 2022-02: Financial Instruments, Credit LossesASC 326, Financial Instruments—Credit LossesConnect with Embark on:LinkedInInstagramTwitterFacebookYouTubeListen to Accounting Matters on Apple Podcasts, Google Play, and Spotify.

Join us for the latest episode of AM Now, where hosts Adam Olsen and Nicole Harger discuss:Hot off the presses – ASU 2023-01, Common Control Lease ArrangementsUpdate on the FASB’s fast-moving crypto asset project and proposed disclosuresThe IASB exposure draft on accounting for financial instruments under IFRS 7The SEC’s proposed modernization of forms, filings, and materials submissionsTexas’s bill that would allow CPA candidates to sit for the exam with 120 only hoursHungry for more knowledge? Then check out these related resources:ASU 2023-1, Common Control ArrangementsCrypto Accounting: Decrypting Digital Assets for CFOs and CAOsIFRS 7 Financial Instruments: DisclosuresTexas Close to Allowing CPA Candidates to Test with 120 CreditsConnect with Embark on: LinkedInInstagramTwitterFacebookYouTubeListen to AM Now on Apple Podcasts, Google Play, and Spotify.

In this week’s AM Now, Embarkers Adam Olsen and Matt Fisser tackle::The FASB’s proposed enhancements to income tax disclosuresThe SEC’s recently proposed three rules related to cybersecurity and data breachesThe IASB accelerating standards on disclosures concerning supply chain finance programsKey considerations for companies as they transition from audit season to proxy seasonFor more information on these and related topics:FASB Project Update: Improvements to Income Tax DisclosuresStatement on Amendments to Regulation S-P, Cybersecurity Risk Management, and Amendments to Regulation SCIBuy Now, Pay Later: Rise of the Supplier Finance ProgramConnect with Embark on: LinkedInInstagramTwitterFacebookYouTubeListen to AM Now on Apple Podcasts, Google Play, and Spotify.

In this episode of Accounting Matters, Embarkers Adam Olsen and Zac Smith zoom in on sustainability-linked debt, how it works, why it exists, and the potential complications it might cause for accounting teams. So pull up a chair and have a listen!For more information on sustainability and ESG-related topics:ESG Reporting Best Practices: Implementation & BeyondEffective ESG Leadership: A Competitive Advantage That’s Tough to BeatWhy ESG Is So Important to Your Organization's FutureConnect with Embark on:LinkedInInstagramTwitterFacebookYouTubeListen to Accounting Matters on Apple Podcasts, Google Play, and Spotify.

In this particularly timely episode of AM Now, Embarkers Adam Olsen and Nicole Harger roll up their sleeves to discuss:The recent banking crises, ASC 275, FDIC insurance, risk management, and other areas finance leaders should know in light of the events around SVB & Signature BankAuditing standard and digital asset updates from the AICPA by way of SAS 149 and its Digital Assets Practice AidFor more information on these and related topics:Crypto Accounting: Decrypting Digital Assets for CFOs and CAOsASC 275—Risks and UncertaintiesSAS 149 New Group Audits StandardAICPA Digital Assets Practice AidConnect with Embark on: LinkedInInstagramTwitterFacebookYouTubeListen to AM Now on Apple Podcasts, Google Play, and Spotify.

In this episode of your favorite weekly accounting & finance podcast, AM Now hosts Adam Olsen and Matt Fisser discuss:The SEC’s continued focus on non-GAAP measuresArtificial intelligence’s potential in capital allocation decisions for investorsThe recent IFRS Sustainability Symposium, the ISSB and their standards So join in on the party, shall you?For more information on these and related topics:ESG Reporting Best Practices: Implementation & BeyondSEC: Non-GAAP Financial MeasuresISSB UpdatesConnect with Embark on: LinkedInInstagramTwitterFacebookYouTubeListen to AM Now on Apple Podcasts, Google Play, and Spotify.

Join Embarkers Adam Olsen, Zac Smith, and Chase Anderson for a hearty conversation on the recent “executive clawback” ruling from the SEC. They discuss the rule itself, where “Big R” and “Little r” restatements fit into the mix, and what it all means for corporate accounting and leadership teams. So pull up a chair and have a listen!For more information on executive clawbacks and related topics:Statement on Final Rules Regarding Clawbacks of Erroneously Awarded CompensationMethods for a Summary of Misstatements: Iron Curtain vs. Rollover ApproachBest Practices for Choosing & Maintaining a Stock Comp PlanConnect with Embark on:LinkedInInstagramTwitterFacebookYouTubeListen to Accounting Matters on Apple Podcasts, Google Play, and Spotify.

In this week’s AM Now, Embarkers Adam Olsen and Nicole Harger look at the recent inflation report from the US Department of Commerce, the interest rate environment, and how they can impact impairment and valuation analyses, cash flow, MD&A disclosures, and more. The dynamic duo also touch on FASB website enhancements, CPA licensure education requirements, and the recent move from the ISSB on solidifying its initial sustainability reporting standards. So join the fun!For more information on these and related topics:ESG Reporting Best Practices: Implementation & BeyondGoodwill Impairment Testing Guide, Examples, & Accounting TipsCash Flow Worksheet Template, Basics, & Best PracticesConnect with Embark on:LinkedInInstagramTwitterFacebookYouTubeListen to AM Now on Apple Podcasts, Google Play, and Spotify.

Join Embarkers Adam Olsen and Matt Fisser for this week’s AM Now episode, where they’re taking a dive into PCAOB oversight (or lack thereof) of crypto assets in the FTX aftermath, as well as the SEC revisiting the so-called Custody Rule.For more information on these and related topics:Crypto Accounting: Decrypting Digital Assets for CFOs and CAOsLack of Crypto Audit Regulation Raises Questions About PCAOB AuthoritySEC Proposes Enhanced Safeguarding Rule for Registered Investment AdvisersConnect with Embark on:LinkedInInstagramTwitterFacebookYouTubeListen to AM Now on Apple Podcasts, Google Play, and Spotify.

Nothing like a hearty supplier finance arrangement to make a well-meaning accountant’s eyes glaze over a bit, huh? Well, as Embarkers Adam Olsen, Zac Smith, and Nicole Harger discuss in this Accounting Matters episode, these programs can be a benefit to all parties involved, with the latest guidance update just increasing transparency around them. In other words, there’s nothing to fear but fear itself. And snakes. But certainly not these arrangements.For more information on supplier finance programs and related topics:ASU 2022-04, Liabilities—Supplier Finance ProgramsMD&A Disclosure Requirements: Insights, Quick Tips, and Best PracticesConnect with Embark on:LinkedInInstagramTwitterFacebookYouTubeListen to Accounting Matters on Apple Podcasts, Google Play, and Spotify.