PwC's accounting podcast

We continue our year-end toolkit series sharing insights on key areas of the year-end accounting and reporting process. In this episode, we focus on the statement of cash flows—an area that remains critical to investors and continues to get focus from regulators. We discuss recent SEC comment letter observations, practical considerations for complex transactions such as debt restructurings, payment processing arrangements, and business combinations; we also highlight reminders and best practices to help companies navigate year-end reporting.
In this episode, we discuss:
1:05 – Overview of the statement of cash flows and key reminders
3:46 – SEC comment letter themes
7:52 – Debt restructurings
15:21 – Payment processing arrangements
20:27 – Business combinations
32:56 – FASB project on targeted improvements to the statement of cash flows
For more on the statement of cash flows, see Chapter 6 of our Financial statement presentation guide.
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About our guests
Suzanne Stephani is a director in PwC’s National Office specializing in the statement of cash flows as well as the application and interpretation of the accounting guidance related to financing, leasing, and foreign currency transactions.
Christopher Gerdau is a partner in PwC’s National Office specializing in accounting for financial instruments and banking-related topics. Chris also conducts technical reviews of SEC filings and provides technical support to PwC’s practice offices. Chris’s client service expertise includes the banking, capital markets, and insurance industries.
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 OCA’s Professional Practices Group.
Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to [email protected] 
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As signs of market stabilization emerge, companies are reassessing their deal strategies for 2026. In this episode, we explore IPO and M&A trends, the influence of AI and macroeconomic shifts, and the steps finance teams can take now to be ready for what’s next.
In this episode, we discuss:
3:35 – Where the deals market stands today 
9:38 – Deals outlook for 2026
17:35 – Expected IPOs and financing trends for 2026
25:28 – What finance leaders and teams can do now to prepare
For more read our publications, US Capital Markets 2026 Outlook—IPO markets look primed to accelerate in 2026 and The next wave of M&A: Bigger and bolder deals driven by AI and private equity—US Deals 2026 outlook. Also, be sure to follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to stay in the loop.
About our guest
Mike Bellin is a PwC Deals partner who leads PwC’s US Capital Markets practice. Mike advises clients on accessing the debt and equity capital markets by providing clients with technical/project management advice on complex accounting and financial reporting issues associated with the SEC registration process, IPOs, direct listings, SPAC mergers, 144A debt and equity offerings, divestitures, spinoffs and carve-outs, and GAAP conversions.
About our host
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.
Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to [email protected] 
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In this episode, we share key insights and reminders on navigating materiality judgments. We revisit the fundamentals of SAB 99, explore how to apply both quantitative and qualitative considerations, address identified errors, and more.
In this episode, we discuss:
3:53 – The framework for assessing materiality and errors in financial statements
8:51 – Addressing identified errors
15:01 – Reassessing materiality amid economic and other changes
19:48 – Trends in reporting errors, including cash flow statement impacts
23:09 – Fraud and illegal acts
In case you missed it, check out the previous episode in this year-end miniseries, Year-end toolkit: Accounting and reporting reminders for 2026.
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About our guest
Michael Mullen is PwC’s US Assurance Quality Management leader. In this role, he oversees complex client issues, providing technical insights and expertise in support of overall quality. With over 35 years of client service experience, Michael has led numerous global client engagements.
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 OCA’s Professional Practices Group.
Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to [email protected]
Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

This episode explores key accounting and reporting considerations for year-end financial reporting. Technical leaders from our National Office share reminders and timely insights across a range of topics, including tariffs, income taxes, held-for-sale accounting, and other emerging issues–topics that are relevant for all finance teams, even if it’s not year-end close time.
In this episode, we discuss:
1:52 – AI mega-deal structuring and related accounting and reporting complexities
11:30 – Equity method accounting considerations and related disclosures
15:58 – Tariffs and trade considerations, including inventory impacts
21:38 – Crypto asset accounting models and new FASB guidance
25:16 – Accounting and reporting for private credit transactions
33:00 – Tax reform developments and income tax accounting
40:00 – New ASUs related to derivatives and hedge accounting
42:52 – Held-for-sale accounting
46:00 – OECD Pillar 2 and global tax
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About our guests
Bret Dooley is a PwC National Office Deputy Chief Accountant who leads teams focused on the financial services sectors and accounting for financial instruments. He has over 25 years of experience in the financial services, banking, and capital markets industries. Bret focuses on emerging financial reporting issues related to financial instruments, developing interpretive guidance, and assisting clients in resolving complex accounting matters.
Pat Durbin is a PwC National Office Deputy Chief Accountant. 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.
Beth Paul is a PwC National Office Deputy Chief Accountant responsible for a team of consultants that specialize in business combinations and related areas, such as consolidations, disposals, impairments, and segment reporting. She has over 30 years of experience consulting with clients and engagement teams on complex accounting matters.
About our guest host
Tom Barbieri is PwC’s US Chief Accountant. He has over 30 years of experience advising large financial services and multinational corporations on complex accounting issues. Tom leads the Accounting & SEC Services Group within the National Office, which is focused on supporting our clients and engagement teams in navigating complex technical accounting and financial reporting matters. He is also a member of the Financial Accounting Standards Advisory Council.
Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to [email protected]
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In this final episode of our SEC-focused series, we discuss SEC comments on revenue. Revenue is the top line for a reason; it’s closely watched by investors and therefore the SEC staff as well. From performance obligations to disaggregated revenue disclosures, we discuss the issues most frequently raised by the SEC staff and offer advice to preparers for getting it right the first time.
In this episode, we discuss:
1:34 – An overview of SEC comment letter trends related to revenue
6:22 – Performance obligations
10:48 – Variable consideration
17:07 – Principal versus agent considerations
26:00 – Disaggregated revenue disclosures
In case you missed it, check out the previous episodes in this SEC-focused series:
SEC now: MD&A 2025 comment letter trends
SEC now: Segments 2025 comment letter trends
SEC now: 2025 comment letter trends on transactions
SEC now: Non-GAAP 2025 comment letter trends
SEC now: Today’s landscape and recent developments
For more on the SEC, listen to our recent episodes:
Key takeaways from the AICPA & CIMA Conference
SEC to revisit quarterly reporting: Pros, cons, and what’s ahead
Be sure to follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to stay in the loop.
About our guests
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.
Ryan Spencer is a partner at PwC's National Office specializing in SEC reporting matters both for US domestic issuers and some of the world’s largest foreign SEC registrants. He has over 25 years of experience serving clients and is a frequent contributor to PwC’s publications and communications.
About our guest host
Kyle Moffatt is PwC’s Professional Practice leader, leading a team responsible for working with standard setters and regulators as well as delivering brand-defining thought leadership and educational materials. He also consults with engagement teams and audit clients on SEC reporting matters. Before PwC, Kyle spent almost 20 years with the SEC, most recently as Chief Accountant and Disclosure Program Director in the Division of Corporation Finance.
Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to [email protected]
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