Financial instruments (current standards)

Q1 2021 Quarterly Outlook

March 11, 2021

KPMG’s quarterly update on accounting and financial reporting developments, including SEC matters and FASB activity.

FASB provides relief for discounting transition

January 08, 2021

Reference rate reform relief extended to derivatives impacted by discounting transition.

Q4 2020 Quarterly Outlook

December 17, 2020

Quarterly update from KPMG on accounting and financial reporting developments, including SEC matters and FASB activity.

How convertible debt will be affected by ASU 2020-06

December 15, 2020

KPMG provides guidance on how ASU 2020-06 will affect convertible debt an issuer can settle in cash and/or shares.

Pt. 2: 2020 AICPA conference on banks & savings institutions

December 07, 2020

Highlights from banking regulators and others on current topics impacting banks & savings institutions.

FASB exposes financial statement element definitions

November 02, 2020

The proposals would revise the conceptual definitions of assets, liabilities, revenues and gains, amongst others.

FASB issues Codification improvements

October 30, 2020

The amendments affect several topics to clarify, correct errors in and make improvements to the FASB Codification.

Handbook: Derivatives and hedging

October 02, 2020

Latest edition: The KPMG in-depth guide to ASC 815 derivatives and hedge accounting post ASU 2017-02.

Handbook: Debt and equity financing

October 02, 2020

New KPMG in-depth guide uses Q&As and examples to explain the principles of accounting for debt and equity financings.

Pt. 1: 2020 AICPA conference on banks & savings institutions

September 28, 2020

Highlights from the SEC, FASB, banking regulators and others on current topics affecting banks and savings institutions.

Q3 2020 Quarterly Outlook

September 15, 2020

Quarterly update from KPMG on accounting and financial reporting developments, including SEC matters and FASB activity.

FASB amends convertible debt & contracts in own equity

August 07, 2020

KPMG reports on amendments to reduce accounting models for convertible instruments and simplify contracts in own equity.

Lender accounting for COVID-19 loan modifications

June 18, 2020

Latest edition: Accounting considerations for COVID-19 loan modifications, including guidance on TDR determinations.

Q2 2020 Quarterly Outlook

June 18, 2020

KPMG’s quarterly update on accounting and financial reporting developments, including SEC matters and FASB activity.

Impact of economic disruption on expected credit losses

March 16, 2020

Q1 economic disruption caused by COVID-19 and oil markets should not be reflected in ASC 326 transition adjustment

FASB provides relief for reference rate reform

March 13, 2020

Optional relief now available to companies preparing for discontinuation of interest rates such as LIBOR.

FASB clarifies transitions into/out of equity method

January 16, 2020

ASU 2020-01 clarifies the interactions between ASC 321, ASC 323 and ASC 815.

December 2019 Quarterly Outlook

December 18, 2019

KPMG’s quarterly update on accounting and financial reporting developments, including recent SEC and FASB activity.

Guarantees and the credit impairment standard

December 16, 2019

Commercial companies should evaluate whether guarantees provided are in scope of CECL and understand the implications.

FASB amends credit losses standard

November 26, 2019

ASU 2019-11 clarifies how to account for expected recoveries on purchased financial assets with credit deterioration.

FASB issues ASU deferring effective dates

November 04, 2019

ASU 2019-10 amends the effective dates for the credit losses, derivatives and leases standards for certain companies.

EITF reaches final consensus

November 04, 2019

Consensus on accounting for equity method investments, discussion on licensing contract modifications.

Banking regulators propose policy on credit losses

October 25, 2019

Federal banking agencies have proposed a policy statement on CECL, explaining what they would be looking for.

September 2019 Quarterly Outlook

September 02, 2019

KPMG’s quarterly update on accounting and financial reporting developments, including SEC matters and FASB activity.

2019 AICPA Conference on Banks & Savings Institutions

September 02, 2019

Highlights from the SEC, FASB, banking regulators and others on current topics for banks.

SEC staff statement on LIBOR transition

July 15, 2019

The SEC staff provides information for companies to consider as the LIBOR transition date approaches.

PCAOB issues new guidance for auditors and audit committees

July 10, 2019

The PCAOB issues new guidance for audit committee communications when an auditor identifies a violation of the independence rules

June 2019 Quarterly Outlook

June 03, 2019

KPMG’s quarterly update on accounting and financial reporting developments, including SEC matters and FASB activity.

Audit committee tool: new credit losses standard

May 15, 2019

CAQ’s updated tool helps audit committees with their oversight of implementation of the new credit impairment standard.

FASB issues targeted transition relief for the credit losses standard

May 06, 2019

ASU 2019-05 provides more flexibility in applying the fair value option on adoption of the new standard.