Search a title or topic

Over 20 million podcasts, powered by 

Player FM logo
Artwork

Content provided by PwC. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by PwC or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.
Player FM - Podcast App
Go offline with the Player FM app!

Reporting reset – Consolidation disclosures

26:58
 
Share
 

Manage episode 475894281 series 1240336
Content provided by PwC. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by PwC or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

We continue our back-to-basics series on financial statement presentation with an episode focused on consolidation disclosures. These disclosures can be complex, covering both consolidated entities – such as variable interest entities (VIEs) and voting interest entities (VOEs) – as well as variable interests in VIEs that are not consolidated. This episode breaks down the relevant frameworks, presentation principles, and disclosure requirements.

In this episode, we discuss:

  • 2:00 – The purpose of consolidated financial statements and the guiding frameworks
  • 5:50 – General consolidation presentation and disclosure principles
  • 8:00 – Principles and objectives for the presentation and disclosure of variable interests in VIEs, including from the perspective of:
    • 12:22 – A holder of variable interests in a VIE, regardless of primary beneficiary status
    • 14:21 – A primary beneficiary of a VIE
    • 16:17 – An entity with variable interests in VIEs for which it is not the primary beneficiary
  • 20:35 – Presentation and disclosure considerations for VOEs

For more information, see chapter 18 of our Financial statement presentation guide and our Consolidation guide. You can also listen to the other episodes in this miniseries:

About our guests
Alexander Martin is a partner in PwC's Deals practice who specializes in helping clients solve complex accounting, financial reporting, and business issues arising from deals, structured transactions, and other transformational events. With over 15 years of experience, Alexander has deep expertise in US GAAP and SEC reporting, gained through his roles as an advisor in PwC's Deals practice, a regulator at the SEC, and most recently as a partner in PwC's National Office.

Matt Sabatini is a partner in PwC's National Office who helps clients and engagement teams navigate the accounting and financial reporting for complex transactions. He specializes in the accounting for M&A, consolidations, corporate reorganizations, recapitalizations, joint ventures, and other investments.

About our 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].

  continue reading

Chapters

1. Reporting reset – Consolidation disclosures (00:00:00)

2. The purpose of consolidated financial statements and the guiding frameworks (00:02:00)

3. General consolidation presentation and disclosure principles (00:05:50)

4. Principles and objectives for the presentation and disclosure of variable interests in VIEs, including from the perspective of: (00:08:00)

5. A holder of variable interests in a VIE, regardless of primary beneficiary status (00:12:22)

6. A primary beneficiary of a VIE (00:14:21)

7. An entity with variable interests in VIEs for which it is not the primary beneficiary (00:16:17)

8. Presentation and disclosure considerations for VOEs (00:20:35)

581 episodes

Artwork
iconShare
 
Manage episode 475894281 series 1240336
Content provided by PwC. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by PwC or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

We continue our back-to-basics series on financial statement presentation with an episode focused on consolidation disclosures. These disclosures can be complex, covering both consolidated entities – such as variable interest entities (VIEs) and voting interest entities (VOEs) – as well as variable interests in VIEs that are not consolidated. This episode breaks down the relevant frameworks, presentation principles, and disclosure requirements.

In this episode, we discuss:

  • 2:00 – The purpose of consolidated financial statements and the guiding frameworks
  • 5:50 – General consolidation presentation and disclosure principles
  • 8:00 – Principles and objectives for the presentation and disclosure of variable interests in VIEs, including from the perspective of:
    • 12:22 – A holder of variable interests in a VIE, regardless of primary beneficiary status
    • 14:21 – A primary beneficiary of a VIE
    • 16:17 – An entity with variable interests in VIEs for which it is not the primary beneficiary
  • 20:35 – Presentation and disclosure considerations for VOEs

For more information, see chapter 18 of our Financial statement presentation guide and our Consolidation guide. You can also listen to the other episodes in this miniseries:

About our guests
Alexander Martin is a partner in PwC's Deals practice who specializes in helping clients solve complex accounting, financial reporting, and business issues arising from deals, structured transactions, and other transformational events. With over 15 years of experience, Alexander has deep expertise in US GAAP and SEC reporting, gained through his roles as an advisor in PwC's Deals practice, a regulator at the SEC, and most recently as a partner in PwC's National Office.

Matt Sabatini is a partner in PwC's National Office who helps clients and engagement teams navigate the accounting and financial reporting for complex transactions. He specializes in the accounting for M&A, consolidations, corporate reorganizations, recapitalizations, joint ventures, and other investments.

About our 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].

  continue reading

Chapters

1. Reporting reset – Consolidation disclosures (00:00:00)

2. The purpose of consolidated financial statements and the guiding frameworks (00:02:00)

3. General consolidation presentation and disclosure principles (00:05:50)

4. Principles and objectives for the presentation and disclosure of variable interests in VIEs, including from the perspective of: (00:08:00)

5. A holder of variable interests in a VIE, regardless of primary beneficiary status (00:12:22)

6. A primary beneficiary of a VIE (00:14:21)

7. An entity with variable interests in VIEs for which it is not the primary beneficiary (00:16:17)

8. Presentation and disclosure considerations for VOEs (00:20:35)

581 episodes

All episodes

×
 
Loading …

Welcome to Player FM!

Player FM is scanning the web for high-quality podcasts for you to enjoy right now. It's the best podcast app and works on Android, iPhone, and the web. Signup to sync subscriptions across devices.

 

Listen to this show while you explore
Play