Podcast
Accounting Matters
Hosted by Embark · EN
Accounting Matters lives up to its title, covering vital accounting topics that actually matter to professionals in the accounting trenches. We start with a new topic and definition every episode, then highlight and discuss the key areas, from evaluation to reporting. Accounting Matters is hosted by public accounting veterans Adam Olsen & Nicole Harger from advisory firm Embark.
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18episodes
Episodes
Newest firstAll episodes
GRC Modernization: Building a Future-Ready Risk & Compliance Function
4w ago00:38:13Tap to summarizeMost GRC functions were built a decade ago in response to SOX or a single risk event. The world has changed. The function often hasn't. In this episode, Embark's Adam Olsen is joined by Managing Director Allison Bradshaw to break down what it actually takes to modernize governance, risk, and compliance for the environment organizations are operating in today.In this episode:Why siloed GRC functions create blind spots, audit fatigue, and hidden costs that far exceed what shows up on a budget lineWhat an integrated GRC model looks like in practice: common risk taxonomy, shared technology, and coordinated activities across all three lines of defenseHow to make the business case for modernization, including the 20 to 30 percent cost reduction organizations typically see when duplication is eliminatedTechnology enablement beyond the platform: continuous controls monitoring, workflow automation, and real-time integration with your ERP and source systemsHow modern GRC transforms SOX from a seasonal sprint into a year-round process, with a real-world example of an $800K compliance budget getting restructuredWhere AI fits into GRC today: risk identification, anomaly detection, and compliance monitoring, plus the governance frameworks organizations need to manage AI as a risk in its own rightWhat a risk-intelligent culture actually looks like, and why most GRC transformations fail on culture long before they fail on technologyHow to start without boiling the ocean: practical guidance on sequencing a GRC modernization roadmapTo connect with Allison or learn more about Embark's GRC maturity assessment, visit embarkwithus.com.
Transcribe →The ROI of Internal Audit: Beyond Compliance to Value Creation
4w ago00:48:47Tap to summarizeMost internal audit functions are still operating like it's 2010. In the first episode of Embark's new GRC series, Adam Olsen is joined by Allison Bradshaw, Principal and head of Embark's GRC and Internal Audit Services practice, to make the case for a fundamentally different model. The conversation covers what modern IA looks like, how to build the right delivery structure, and how CFOs can measure real return on investment.In this episode:Why compliance-checkbox IA is leaving significant value on the table, and what a risk-based, consultative function looks like insteadCo-sourcing vs. outsourcing: a practical framework for deciding which model fits your organization's size, complexity, and risk profileHow data analytics and AI are shifting IA from sampling transactions to testing entire populations in near-real timeThe emerging demand for IT audit, cybersecurity, and AI governance capabilities, and why most teams can't hire for all of itA framework for measuring IA ROI: prevented costs, recovered value, process improvements, and stakeholder confidenceA real-world co-sourced engagement example where a single year yielded over $1.6M in identified losses and fraud
Transcribe →Beyond the Line Item: Building Your DISE Roadmap
Mar 3100:37:09Tap to summarizeUnderstanding DISE is one thing. Actually producing the disclosure every quarter is another. In the final episode of their three-part series, Embark's Nicole Harger and Adam Olsen are joined by David Bushby, who brings real-world perspective from working directly with public companies on DISE implementation. If your team is asking "where do we even start," this episode is the answer.In this episode:How to conduct a readiness assessment and gap analysis before your 2027 effective dateWho needs to be in the room: why finance, IT, HR, procurement, and operations all have a roleKey decisions to make early: cost-incurred vs. expense-incurred, selling expense definition, and voluntary disclosuresSystems and data challenges: fragmented ERPs, the retail inventory method, cost pools, and how to use estimates responsiblyInternal controls for a new disclosure: what needs to be in place before your first filingHow DISE interacts with segment reporting under ASC 280 and what to address in MD&AIndustry-specific pain points for retail, consumer products, manufacturing, life sciences, and techSix practical tips for first-year adoption, including why running a pilot in 2026 could save you significant headaches
Transcribe →Beyond the Line Item: Inside the Natural Expense Categories of DISE
Mar 3100:31:08Tap to summarizeIf Episode 1 covered the "why" behind DISE, Episode 2 is where theory meets practice. Embark's Nicole Harger and Adam Olsen get into the technical details of all five required natural expense categories, working through the tricky classification questions companies are already bringing to their teams. This is the episode to bookmark when your client asks, "But where exactly does that go?"In this episode:The difference between natural and functional expense classification, and why it matters for your disclosurePurchases of inventory: what's included, what's excluded, and how intercompany transactions and inbound freight factor inCost-incurred vs. expense-incurred basis: what each means and why most companies will elect cost-incurredEmployee compensation: the ASC 718 definition of "employee," how to handle contractors and leased workers, and a practical approach to mixed workforcesDepreciation and intangible asset amortization: how to handle finance lease ROU assets, internal-use software, and the costs that look like amortization but aren'tDD&A for extractive industries, plus special considerations for asset-related costs, liability-related expenses, and reimbursement arrangementsHow to define selling expenses for your business, and why that definition has to hold up over time
Transcribe →Beyond the Line Item: Why DISE Changes Everything
Mar 3100:33:45Tap to summarizeThe FASB just issued new guidance that will fundamentally change how public companies communicate about their cost structure. In the first episode of a three-part series, Embark's Nicole Harger and Adam Olsen break down ASU 2024-03, the Disaggregation of Income Statement Expenses (DISE) standard, and why companies need to start preparing now, even with a 2027 effective date on the horizon.This episode covers the foundation: the investor demand driving the standard, who it applies to, and what "relevant expense captions" actually mean for your financial reporting.In this episode:Why the FASB issued DISE and how it fits into a broader expense transparency initiative (alongside ASU 2023-07 and ASU 2023-09)Who is in scope: all public business entities, including broker-dealers, IPO-stage companies, and private companies whose financials appear in SEC filingsEffective dates: annual periods beginning after December 15, 2026; interim periods beginning after December 15, 2027What goes into the tabular footnote disclosure, including the five required natural expense categoriesHow to identify relevant expense captions, and the key exceptions and practical expedients that offer some relief
Transcribe →Navigating Collaboration Arrangements — Accounting Under ASC 808 & 606
Aug 400:35:00Tap to summarizeCollaboration arrangements are becoming more common across industries, from biotech partnerships to platform-sharing in tech. But when it comes to accounting, things get complicated fast.In this episode of Accounting Matters, Nicole Harger and Adam Olsen explore how to navigate ASC 808 and ASC 606. They cover:What qualifies as a collaborative arrangementHow to determine if (and when) ASC 606 appliesReal-world examples involving IP licenses, cost-sharing, and milestone paymentsThe role of customer relationships in collaboration agreementsDisclosure expectations and SEC hot buttonsCommon pitfalls and best practicesWhether you’re structuring a new deal or reviewing an existing one, this episode offers a practical roadmap to get the accounting right.
Transcribe →Accounting for Innovation — R&D Costs Explained
Jun 1100:33:07Tap to summarizeJoin hosts Nicole Harger and Adam Olsen as they explore the intricacies of accounting for R&D costs. This episode covers the current U.S. GAAP treatment, challenges in the life sciences sector, and differences with IFRS. Discover potential changes from FASB and gain insights into how these accounting principles impact financial statements across industries. Perfect for professionals navigating the evolving landscape of R&D accounting.
Transcribe →FASB in Focus - Key Projects to Keep on Your Radar
May 2, 202500:38:03Tap to summarizeIn this episode of "Accounting Matters," hosts Nicole Harger and Adam Olsen explore the FASB's 2025 agenda, highlighting key projects aimed at modernizing financial reporting standards. They discuss the proposed overhaul of software cost accounting, the introduction of a framework for environmental credit programs, and long-awaited guidance on accounting for government grants. These initiatives reflect a shift towards greater transparency and decision-usefulness in financial statements, addressing real-world challenges faced by companies today. Tune in to understand how these changes could impact your organization's financial reporting practices.
Transcribe →The Global Tariff Tango – Keeping Your Financial Statements in Step
Apr 21, 202500:42:05Tap to summarizeJoin hosts Nicole Harger and Adam Olsen as they explore the complex world of tariffs in this episode of Accounting Matters. Discover how global trade policies and tariffs are reshaping financial statements, supply chains, and pricing strategies. From the hardest-hit industries to strategic mitigation tactics, this episode provides valuable insights for navigating today's dynamic trade environment. Packed with in-depth analysis, it equips you with the knowledge to stay ahead in the financial landscape.
Transcribe →The EU Buses in Proposed Changes to Sustainability Reporting
Mar 18, 202500:41:20Tap to summarizeJoin hosts Adam Olsen and Allison Bradshaw as they break down the EU's proposed Omnibus package in this episode of Accounting Matters. They explore the evolving landscape of sustainability reporting, including SEC climate rules, state regulations, and ISSB standards. Discover how these changes impact CSRD obligations, scoping, timing, and assurance requirements. Packed with insights, this episode equips you with the knowledge to navigate the future of sustainability reporting.
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