Q3 2022 Quarterly Outlook

KPMG reports on major accounting and financial reporting developments that could affect companies in the current period or near term. This quarter we address new tax legislation, the latest on ESG, and recent SEC and FASB developments.

Applicability

• All companies

Key impacts

For Q3 2022:

• New tax legislation keeps preparers busy as they navigate the potential accounting and financial reporting impacts.
  
• The SEC sorts through voluminous feedback on its climate disclosure proposal.
  
• The FASB continues to adjust its agenda priorities in response to stakeholder feedback.
  
• New ASU 2022-03 changes how certain entities will consider contractual sale restrictions in their fair value measurements. 

Report contents

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