March 2019 Quarterly Outlook

KPMG reports on major accounting and financial reporting developments that could affect companies in the current period and near term. This quarter’s publication addresses leases implementation and standard-setting updates, SEC matters, FASB activity and other financial reporting reminders for 2019. 

Applicability

• All companies

Relevant dates

• Effective immediately

Key impacts

For Q1 2019:

• Calendar year-end public companies have adopted (1) the leases standard (ASC 842) and (2) other standards intended to simply or clarify accounting requirements. 
• The FASB finalized amendments to the leases standard and continued deliberations on the CECL and hedging financial instruments standards.  
• The SEC staff continues to monitor the sufficiency of disclosures about (1) adopting new accounting standards and (2) the effects of Brexit and the forthcoming phase-out of LIBOR on a company’s business operations.

Report contents

• Current quarter financial reporting matters
• New standards and guidance
• Projects and agenda priorities
• Recommended reading and CPE opportunities

Related content

• KPMG’s resource page: Leases
• KPMG’s resource page: SEC matters
• KPMG’s resource page: Financial instruments
• KPMG’s Defining Issues: Year-end Brexit disclosure considerations