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IFRS podcasts series

Here you can find an overview of our podcasts related to IFRS. Listen to the latest updates on COVID-19 and various other IFRS topics.

Episode 115

Episode 115: accounting for Cloud Computing Arrangements

Gary Berchowitz, Rachel Rubinstein and Andrea Pryde discuss the costs relating to cloud computing and software as a service.

Listen to Episode 115

Episode 114

Episode 114: Taking Stock of 2021

Marie Kling and Andrea Pryde review 2021’s highlights for financial reporting so far and look forward to developments in the rest of 2021.

Listen to Episode 114

Episode 113

Episode 113: sustainability and ESG

The interest in environmental, social and governance (ESG) and sustainability reflects that companies are no longer judged only on the basis of their profits - their effect on society also matters. Join Andrea Pryde and Henry Daubeney discuss recent developments in reporting about ESG and sustainability matters.

Listen to Episode 113

Episode 112

Episode 112: an accidental accountant

Hans Hoogervorst joins Andrea Pryde to reflect on his accomplishments as Chairman of the IASB. He shares his thoughts on the IASB and IFRS Standards, and considers the future for standard setting.

Listen to Episode 112

Episode 111

Episode 111: IFRS interpretation committee meeting

Join Andrea Pryde and Karsten Ganssauge as they discuss the issues from last week’s IFRS Interpretations Committee meeting, including the Targeted Long-term Refinancing Operations III transactions and an electricity retailer’s accounting for a Power Purchase Agreements in a Gross Pool Electricity Market.

Listen to Episode 111

Episode 110

Episode 110: lack of exchangeability

Join Andrea Pryde, Mercedes Baño and Sergio Cravero for a discussion on the issues addressed by the IASB’s Exposure Draft on Lack of Exchangeability (Amendments to IAS 21).

Listen to Episode 110

Episode 109

Episode 109: IFRIC update

Karsten Ganssauge updates us on the latest from the March and April IASB Interpretations Committee meeting where the Committee considered new topics relating to IFRS 16 and IAS 32, and finalised tentative agenda decisions relating to IAS 19 and IFRS 9.

Listen to Episode 109

Episode 108: supplier finance

In recent years we’ve seen an increased use of supplier financing arrangements, sometimes called reverse factoring arrangements. Supplier financing arrangements can allow entities to manage working capital more efficiently, typically in conjunction with a programme with a bank or financial institution. Hear Marie Kling explain the top five accounting considerations for supplier financing arrangements.

Listen to Episode 108

Episode 107: rate regulated accounting

At the end of January the IASB published an exposure draft of a new accounting standard that would require companies subject to rate regulation to give investors additional information about the effects of rate regulation on their  financial performance. The proposed Standard may have a significant impact for entities within its scope that do not currently have regulatory balances. Scott and Heather explain all in 20 mins.

Listen to Episode 107

Episode 106

Episode 106: SPACs

A Special Purpose Acquisition Company (SPAC) is created with capital through an initial listing, with the intention that the SPAC later acquires or merges with one or more unspecified private operating companies (‘OpCo’). Where an OpCo is acquired by a publicly traded SPAC, it effectively becomes a public company without executing its own initial public offering (‘IPO’). Gary Berchowitz discusses the accounting challenges relating to them.

Listen to Episode 106

Episode 105

Episode 105: crypto assets with Ryan Leopold

Cryptoassets are transferable digital assets that prevent copying or duplication. One of the most commonly known subsets are cryptocurrencies, which are mainly used as a means of exchange but also as an economic hedge or investment. However, accounting today may not align with users’ expectations of the transactions. Ryan explains all in 20 mins.

Listen to Episode 105

Episode 104

Episode 104: February IFRIC Update

Karsten Ganssauge tells us what happened at the February IFRIC Meeting where they discussed three topics: Sale and leaseback of an asset in a single-asset entity, the preparation of financial statements when an entity is no longer a going concern, and the costs necessary to sell inventories.

Listen to Episode 104

Episode 103

Episode 103: going concern: disclosure relating to material uncertainty about an entity’s ability to continue as a going concern

Given all that has happened in 2020 and the continuing uncertainty in 2021 arising from the global pandemic, we expect that investors are going to be looking at how companies and auditors are comfortable that a going concern basis of accounting is appropriate and the disclosures around it. Katie Woods and Jamie Shannon discuss disclosures and judgements relating to material uncertainty about an entity’s ability to continue as a going concern.

Listen to Episode 103

Episode 102

Episode 102: what should we expect from the post-implementation review of IFRS 9?

In October 2020, the IASB decided to begin the post implementation review of the IFRS 9 classification and measurement requirements. The IASB plans to conduct outreach for the first phase of the PIR in the first half of this year targeting a request for information in the third quarter of 2021. Marie Kling explains what this means for the year ahead.

Listen to Episode 102

IFRS Podcast Episode 101

Episode 101: what do investors want to know about 2020?

Hilary Eastman talks us through what investors want to know about 2020. What disclosures are investors expecting to see about COVID-19 in 2020 financial statements? What are their thoughts on ESG reporting? And where would they most like to see improvements? Find out more in this latest episode.

Listen to Episode 101

Episode 100

Episode 100: emissions credit accounting

Scott Bandura talks us through how emissions trading schemes work and the accounting challenges. Is there a difference in accounting between granted and purchased allowances? Is there an obligation as emissions are generated? Find out about the challenges and current diversity in the accounting in this latest episode.

Listen to Episode 100

Episode 99

Episode 99: December IFRIC update

Karsten Ganssauge talks through the December IFRIC agenda. The episode focuses on supply chain financing; the impact of covenants on the classification of current or non current liabilities and whether customisation and configuration costs can be capitalised as intangible assets.

Listen to Episode 99

Episode 98

Episode 98: business combinations – disclosures, goodwill and impairment discussion paper

Paul Shepherd provides an overview of the discussion paper, business combinations – disclosures, goodwill and impairment. He summarises the proposals for additional disclosures, simplifications to the impairment test and the Boards consideration for goodwill amortisation. Find out all in the latest podcast.

Listen to Episode 98

Episode 97: employee benefits in light of COVID-19

Katie Woods walks through the impacts of COVID-19 on accounting for employee benefits - pensions, share based payments, bonuses, and termination benefits.

Listen to Episode 97

Episode 96: life and times of Darrel Scott, former IASB member

Darrel Scott talks about his time at the IASB including the IFRIC committee, the standard setting process, his personal successes and favourite all time standard.

Listen to Episode 96

Episode 95: the importance of climate risk to financial and non-financial reporting

Scott Bandura explains the importance of climate risk for both financial and non financial reporting. Does IFRS consider climate risk? How can it impact accounting? What are the latest developments around ESG reporting & assurance? Scott tells all in the latest episode.

Listen to Episode 95

Episode 94: IBOR reform phase 2

In August 2020 the IASB concluded their IBOR reform project and issued the Phase 2 amendments. Chris Raftopoulos, Marie Kling and Mark Randall recap on Phase 2 and explain the key amendments - scope, contractual cash flow relief and hedge accounting.

Liste to Episode 94

Episode 93: September IFRIC update

Karsten Ganssauge talks through the September IFRIC Agenda. How to account for a sale and leaseback in a corporate wrapper and a proposed Board amendment to IAS 12, Taxes.

Listen to Episode 93

Episode 92: PwC IFRS Talks IFRS 15, over time revenue contracts

Katie Woods explains the judgements involved in accounting for revenue contracts over time in the scope of IFRS 15. How to measure progress; contract modifications, variable pricing and more.

Listen to Episode 92

Episode 91: IASB narrow scope amendments

In May 2020, the IASB released a package of narrow scope amendments on IAS 16, proceeds of testing, IAS 37, onerous contracts, IFRS 3, recognition of liabilities in a business combination and annual improvements 2018 - 2020 (IFRS 1, IAS 41 and IFRS 9 and IFRS 16.)

Listen to Episode 91 

Episode 90: The life and times of Sandra Thompson

This podcast looks back at the last 33 years of the accounting life and times of Sandra Thompson, Global IFRS Financial Instrument Leader; her favourite accounting standards, proudest moments, and hints and tips on being a financial statement reviewer. 

Listen to Episode 90  

Episode 89: Primary financial statements

Gary Berchowitz (PwC UK) and Ruth Preedy (PwC UK) walk through the exposure draft on Primary Financial Statements which focuses on proposed changes to the statement of profit and loss. Management performance measures, unusual income and expense and new categories and subtotals - find out all in the latest episode of PwC IFRS Talks.

Listen to Episode 89

Episode 88: The life and times of Tony Debell

This podcast looks back at the last 38 years of the accounting life and times of Tony Debell, Global IFRS Technical Leader for 14 of those years; his favourite accounting standards, proudest moments, biggest changes in standard setting and his hints and tips on being an IFRS guru and financial statement reviewer.

Listen to Episode 88

Episode 87: COVID-19 and IFRS 16 rent concessions

Sandra Thompson (PwC UK) and Scott Bandura (PwC Canada) explain the latest on COVID-19 rent concessions. What is in scope of the amendment to IFRS 16? When is it effective? And what do lessors do even though they are not included in the amendment? Join Ruth Preedy, Sandra Thompson and Scott Bandura to find out the answers to all your questions. 

Listen to Episode 87

Episode 86: June IFRIC update

Do you have intangibles that you use and then sell? Do you control subsidiaries that will pay tax when they distribute profits? Do you have sale and leaseback arrangements with variable leaseback payments? Are you engaged in supply chain financing or reverse factoring? If the answer to any of these is yes, listen to Karsten Ganssauge's (PwC Germany) summary of the June IFRIC meeting.

Listen to Episode 86

Episode 85: COVID-19 and interim reporting (IAS 34)

Join Gary Berchowitz and Ruth Preedy as they discuss several of the key COVID-19 issues to consider when preparing your interim reporting. Impairments, taxes, pensions, presentation and disclosure and lots more.

Listen to Episode 85

Episode 84: COVID-19 and IAS 12 taxes

Governments all over the world are providing a number of reliefs to support businesses through this period of economic uncertainty. Some of those focus on taxes. In this episode, Dave Walters (PwC UK) analyses whether this assistance is in the scope of IAS 12 taxes. How are both current and deferred tax impacted, and what are the considerations for interim reporting? 

Listen to Episode 84

Episode 83: Impairment of trade receivables for Corporates in light of COVID-19

The IFRS 9 expected credit loss (ECL) model for receivables can be challenging for Corporates, and COVID-19 has added a layer of additional difficulty. Marie Kling (PwC US) explains what Corporates need to consider when measuring ECL in the current environment. How do you update your groupings and forward looking information?

Listen to Episode 83

Episode 82: Presentation of the impacts of COVID-19

Gary Berchowitz (PwC UK) looks at how entities are presenting the impacts of COVID-19 in their financial reporting? What are regulators allowing in terms of adjustments to non-GAAP performance measures? Are entities allowed to present a separate line item for COVID-19 in the income statement? And what does the IFRS guidance say? Find the answers to all of those questions in this latest episode.

Listen to Episode 82

Episode 81: IFRS 16 impact on IAS 36

Ruth Preedy (PwC UK) and Iain Selfridge (PwC UK) look at the impact IFRS 16, leases has on IAS 36, impairment. How do you compare like with like in the impairment model, now most leases are on the balance sheet?

Listen to Episode 81

Episode 80: April IFRIC update 2020

What has been discussed and debated at the April Interpretations Committee? Karsten Ganssauge (PwC Germany) talks through finalising an IAS 12, taxes paper and the research the staff performed on supplier financing arrangements, covering impacts on; the balance sheet, cash flow statement and disclosures.

Listen to Episode 80

Episode 79: COVID-19, hedging and other corporate treasury issues

What are the impacts of COVID-19 on hedge accounting? Are cash flow hedges still highly probable? Do hedges still meet the hedge effectiveness test? Marie Kling, PwC US, looks at both IAS 39 and IFRS 9 to help us understand the full impact.

Listen to Episode 79

Episode 78: COVID-19 and classification and measurement in IFRS 9

COVID-19 has resulted in changes to loan agreements and payment schedules. How should these changes be accounted for in IFRS 9, Financial instruments? Marie Kling talks through modification, ECLs, business model assessments and more.

Listen to Episode 78

Episode 77: COVID-19 implications on IFRS 13, Fair Value

Scott Bandura explains the challenges of measuring fair value in a time of uncertainty. How do you value investment properties? Do discount rates need to change? How do you adjust your models? Ruth Preedy (PwC UK) and Scott Bandura (PwC Canada) discuss the principles of IFRS 13.

Listen to Episode 77

Episode 76: COVID-19 impact on IFRS 16, Leases

The COVID-19 pandemic has resulted in a number of different lease concessions. What do a lessor and lessee need to consider in accounting for these? Are they modifications or something else? Sandra Thompson (PwC UK) talks through all the judgements around lease concessions and explains the IASB guidance and exposure draft.

Listen to Episode 76

Episode 75: COVID-19 and Impairment

Is the COVID-19 pandemic an indicator of impairment in IAS 36? If yes, how do you do the impairment test in this uncertain time? How is risk factored into cash flows and the discount rate? Paul Shepherd and Ruth Preedy answer all those questions and more in the latest episode of PwC IFRS Talks.

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Episode 74: IAS 10, post balance sheet events and COVID-19

Should entities incorporate the impact of COVID-19 in their Q1 2020 period end? Should you adjust the measurements of assets based on post balance sheet information? Is there a difference between an asset measured at fair value or a non fair value measurement. Gary Berchowitz (PwC UK) and Ruth Preedy (PwC UK) discuss all these questions in this latest episode.

Listen to Episode 74

Episode 73: COVID-19 Impact on IFRS 9, Expected Credit Loss

In this episode we continue to discuss the impact of COVID-19 on financial reporting, as Sandra Thompson joins Ruth Preedy to discuss the IFRS 9 expected credit loss model.

Listen to Episode 73

Episode 72: Government grants and coronavirus (COVID-19)

Coronavirus (COVID-19) is having a significant impact on financial reporting. Gary Berchowitz (PwC UK) and Ruth Preedy (PwC UK) discuss some of the different government schemes aimed to support people and businesses. Are they all in the scope of IAS 20, Government Grants and if so how do you account for them?

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Episode 71: The accounting implications of coronavirus (COVID-19)

Coronavirus (COVID-19) is having a significant impact on financial reporting. Join Tony Debell, PwC UK, and Ruth Preedy, PwC UK as they explain some of the key issues, including Q1 considerations, disclosures and impairment of both financial and non-financial assets.

Listen to Episode 71

Contact us

David Baur

David Baur

Director and Leader Accounting Consulting Services, PwC Switzerland

Tel: +41 58 792 26 54