Behind the curtain: The road to solving your complex accounting

It’s a different perspective in this week’s episode! Tune in as we go behind the curtain at PwC’s National office to hear from the wizards solving your most complex accounting issues.Heather Horn, John Bishop, and  Pat Durbin share best practices as they guide listeners through how to solve complex accounting issues. Topics include: 0:40 - Got questions? We are here to help. Clients and engagement teams consult with the National office when there are questions about how to apply the  guidance―whether due to the complexity of the transaction or of the guidance itself, or the level of judgment necessary. 3:24 - The road to resolution. John walks us through different types of consultations―from answering quick questions on the guidance to evaluating more complex transactions. 6:08 - Focus on developing consensus. We discuss the collaboration and research involved in resolving issues as well as give examples of especially challenging areas.10:55 - Outside help. Pat and John explain when and why the input of other parties (e.g., regulators or other firms) may be helpful in reaching a resolution.15:54 - Best practices. A lot of work goes into developing and finalizing a point of view. Pat and John close by sharing best practices to help make the process as smooth as possible. Spoiler: start early!About the guestsJohn Bishop is a partner in PwC's National office and the co-leader of the financial instruments team. In this role, he leads the group in advising the firm’s clients on a wide array of accounting and reporting matters. John specializes in the accounting for derivatives, financial instruments, financing transactions (e.g., securitizations and leasing) and M&A transactions. As the leader of the revenue and liabilities division in PwC’s national office, Pat Durbin leads a team of partners and directors responsible for consulting with our clients and engagement teams on complex accounting matters relating to revenue, compensation, income taxes, inventory and several other topics under both US GAAP and IFRS. About the hostHeather Horn is PwC’s National office thought leader, responsible for developing our communications strategy and conveying firm positions on accounting and financial reporting matters. She is the engaging host of PwC’s accounting and reporting weekly podcast and quarterly webcast series, as well as periodic webcasts for the power and utilities industry. With over 25 years of experience, Heather’s accounting and auditing expertise includes financial instruments and rate-regulated accounting.Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to [email protected].