Podcast overview
KPMG professionals discuss the impacts of the recent ASU 2022-04, which enhances transparency of supplier finance programs to understand their effect on an entity’s working capital, liquidity and cash flows.
Applicability
- All entities that use supplier finance programs in connection with the purchase of goods and services
Relevant dates
- Effective for annual and interim periods for fiscal years beginning after December 15, 2022 except for the rollforward disclosure, which is effective for fiscal years beginning after December 15, 2023
- Early adoption permitted
Podcast contents
- 00:25 – Introduction
- 00:55 – What is a supplier finance program?
- 04:20 – IFRS® Accounting Standards requirements
- 05:25 – ASU on disclosure only?
- 07:15 – Scope and definition
- 08:20 – Key provisions of ASU
- 11:00 – What are buyers disclosing today?
- 12:05 – Effective date and transition
- 13:40 – Closing remarks