Private capital illustrative financial statements 2024

The 2024 edition of the KPMG annual illustrative financial statements for private funds is now available. The illustrative financial statements are designed to assist you in your year-end planning process, offering a wide-ranging guidebook of sample U.S. GAAP financial statements for private funds, including hedge, private equity and venture capital funds and includes examples for domestic, offshore, master/feeder, and fund of funds structures.

Updates to the 2024 editions include:

• Recent accounting standards disclosures for the issuance of ASU 2023-08 that addresses accounting for and disclosure of crypto assets.
• Recent accounting standards disclosures for the issuance of ASU 2023-09 that addresses income tax disclosures.
• Example disclosure for situations when general partner contributions can be reduced or returned to offset the impact of management fees only being charged to limited partners.
• An appendix to provide example income tax policy and footnote disclosures when a private equity fund consolidates taxable blocker entities in its financial statements.