Issues & Trends | June 2021

 

Insight

Q2 2021 Quarterly Outlook

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

Angie Storm

Angie Storm

Partner, Dept. of Professional Practice, KPMG US

+1 212-909-5488

Robin Van Voorhies

Robin Van Voorhies

Director, Dept. of Professional Practice, KPMG US

+1 617-988-5637

KPMG reports on major accounting and financial reporting developments that could affect companies in the current period or near term. This quarter’s publication features the latest on SPAC- and ESG-related matters, plus other SEC headlines and FASB developments.

Applicability

  • All companies

Key impacts

For Q2 2021: 

  • SPAC- and ESG-related matters have dominated recent accounting and financial reporting headlines and are evolving at a rapid pace. The SEC, other regulatory bodies and standard setters are closely monitoring these developments and responding as needed. 
  • The FASB has issued two new standards, including a welcomed, new accounting alternative for private entities that will simplify their accounting for goodwill.

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