Podcast overview
KPMG Department of Professional Practice professionals Nick Burgmeier and Rivka Grund-Sender join host John Barbagallo to discuss the FASB’s new examples illustrating the scope of ASC 718 for profits interest awards..
Applicability
- All entities that issue profits interest and similar awards
Relevant dates
Effective date | Public entities | All other entities |
Annual periods – Fiscal years beginning after | December 15, 2024 | December 15, 2025 |
Interim periods – In fiscal years beginning after | December 15, 2024 | December 15, 2025 |
Early adoption allowed |
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Podcast contents
- 00:25 – Introduction
- 01:00 – Background on the project
- 03:50 – Current approach to evaluating profits interest awards
- 06:00 – Differences in outcomes under ASC 718 and ASC 710
- 07:45 – Brief overview of ASU
- 11:35 – Benefits to stakeholders
- 12:55 – Practical considerations
- 14:00 – Closing
Explore more
Resource
FASB issues final ASU on profits interest awards
ASU 2024-01 provides four cases illustrating the scope application of ASC 718 for profits interest awards.
Resource
Handbook: Share-based payment
Latest edition: KPMG explains in-depth the accounting under ASC 718.
Resource
Handbook: Employee benefits
Our in-depth guide to accounting for employee benefits under ASC 420, ASC 710, ASC 12, ASC 15 and ASC 718-40.
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