KPMG LLP (KPMG) publishes an annual report with the latest insights on financial accounting, regulatory, and compliance reporting requirements supportive to the real estate industry.

New for this year, we share our observations on key market trends before diving into the report’s traditional reminders, new standards and guidance, FASB proposals, and emerging matters.

We revisit guidance that is now effective in 2025, as well as look ahead to forthcoming guidance on disaggregated income statement expense disclosures, business combinations involving variable interest entities (VIEs), and some relief for estimating expected credit losses.

With 2025 being a busy year for proposed guidance and regulatory matters, we provide insight on a number of important proposals to keep an eye on, including those made related to derivative accounting and interim reporting, among other key topics.

We also summarize the impact of recent tax legislation.

Last year, we examined the impact of artificial intelligence (AI) and adoption trends in accounting and reporting. This year, we provide updates on how firms are using agentic AI and AI agents for improved efficiency and profitability.

We would be delighted to discuss the impact of the insights presented to your specific situations in more detail. We look forward to continuing to work with you to help effectively navigate the accounting and regulatory environment as well as support your efforts to achieve your broader business objectives.