Real estate accounting and reporting 2024

The KPMG Building, Construction & Real Estate practice is pleased to announce the release of our annual publication, Real estate accounting and reporting: The impact of new standards and guidance 2024, designed to assist real estate companies and funds with their financial accounting, regulatory, and compliance reporting requirements.

Following the tradition of this report, we provide key insights including reminders, new standards and guidance, FASB proposals, and emerging matters. New for this year, our report focuses on the topic of generative artificial intelligence (GenAI), with a pulse check of where companies are in their adoption, along with benefits, challenges, and what users of this report can do today to leverage emerging technologies impactful to accounting and reporting functions.

In addition to several reminders regarding guidance that has existed from prior years, we provide insights on new standards and guidance. This year we have included the scope application of profits interest and similar awards, improvements to income tax disclosures, disaggregation of income statement expenses, and the impact of the long-awaited climate rule. Additionally, our report includes the proposal that would revise the scope of derivative accounting.

We are happy to discuss the financial reporting requirements and disclosures related to your specific situations or objectives in more detail.