Shownotes Transcript
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In this next episode of our 2024 SEC comment letter miniseries, we discuss accounting for revenue. Revenue is the top line for a reason; it’s closely watched by investors and therefore, the SEC staff as well. From variable consideration to disaggregated revenue disclosure, we discuss the issues most frequently raised by the SEC staff and offer advice to preparers for getting ahead of them.In this episode, we discuss:
- 2:25 – An overview of SEC comment letter trends related to revenue
- 12:20 – Significant judgements and estimates in determining the transaction price
- 23:57 – Timing or pattern of the transfer of control
- 28:10 – Disaggregated revenue disclosures
- 40:45 – Other reminders and areas of focus related to revenue
- 44:22 – Industry-specific considerations
For more information, see our full analysis of SEC comment letter trends), our Revenue from contracts with customers) guide, and Chapter 33) of our Financial statement presentation guide. Also, check out our other episode in this miniseries, SEC comment letters – What’s trending in 2024). Additionally, follow this podcast on your favorite podcast app for more episodes.Pat Durbin) is a Deputy Chief Accountant in PwC’s National Office. He has over 30 years of experience consulting with our clients and engagement teams on complex accounting matters, including issues related to revenue, compensation, income taxes, and inventory under both US GAAP and IFRS.Mike Coleman is a partner in PwC's National Office who specializes in accounting for revenue and software arrangements and has served technology clients for much of his career. In addition, Mike has represented the firm on the AICPA Software Task Force.Heather Horn) is the PwC National Office Sustainability and Thought Leader, responsible for developing our communications strategy and conveying firm positions on accounting, financial reporting, and sustainability matters. In addition, she is part of PwC’s global sustainability leadership team, developing interpretive guidance and consulting with companies as they transition from voluntary to mandatory sustainability reporting. She is also the engaging host of PwC’s accounting and reporting weekly podcast and quarterly webcast series.Follow this podcast on your favorite podcast app for more episodes.Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to *[email protected])*.