Segment Reporting & Disclosure Modernization Webinar

To provide CPAs and finance professionals with an understanding of ASC 280 and ASU 2023-07, including how to identify operating and reportable segments, evaluate significant segment expenses and develop supportable disclosures and controls.

DETAILED LEARNING OBJECTIVES

• Identify the foundation of the segment-reporting model under ASC 280

• Recognize the characteristics required for a component to qualify as an operating segment

• Identify who may serve as the chief operating decision maker

• Determine the reporting requirements when reportable segments account for less than 75% of consolidated external revenue

• Recognize when operating segments may be aggregated under ASC 280

• Identify the segment disclosure requirement introduced by ASU 2023-07

• Determine when an expense category must be disclosed as a significant segment expense

• Explain the purpose of the other segment items disclosure

• Identify the segment disclosure requirements applicable to an entity with a single reportable segment

• Recognize events that require an entity to reassess its segment conclusions

• ASC 280 management approach 
• Chief operating decision-maker identification 
• Operating and reportable segment determination 
• Aggregation criteria 
• Quantitative thresholds and the 75% revenue test 
• Significant segment expenses 
• Other segment items 
• Multiple measures of segment profit or loss 
• Single-segment entity requirements 
• Annual and interim disclosures 
• Expense mapping and allocation judgments 
• Retrospective reporting requirements 
• Disclosure controls and close documentation 
• MD&A and public disclosure consistency 
• Common SEC comment themes

Bill Witt is a Director in the Accounting and Transaction Services (A&TS) practice at Highspring, where he specializes in advising clients on complex initial public offering (IPO) transactions, SEC filings, and technical accounting matters. With over 25 years of experience in technical accounting and financial reporting leadership, Bill is a trusted advisor to clients navigating high-stakes financial events.

His technical expertise spans a range of industries including fintech, biotechnology, and SaaS, with a proven track record supporting multiple IPOs and leading engagements involving ASC 606, lease accounting, and other critical accounting standards. Bill has developed and delivered training programs on the IPO process and technical accounting topics, positioning him as both a subject-matter expert and educator.

In addition to IPO readiness, Bill has extensive experience in financial transformation, including the optimization of close processes, the development of robust forecasting models, and the preparation of companies for complex equity and debt transactions. He is skilled in leading cross-functional teams and managing high-complexity projects involving corporate governance, post-merger integration, and strategic financial planning.

Prior to joining Highspring, Bill was a Senior Manager at Ernst & Young LLP, serving clients in both San Jose, California, and Atlanta, Georgia. He is a Certified Public Accountant (CPA) licensed in California, Georgia, and Ohio.