Industries

Helping clients meet their business challenges begins with an in-depth understanding of the industries in which they work. That’s why KPMG LLP established its industry-driven structure. In fact, KPMG LLP was the first of the Big Four firms to organize itself along the same industry lines as clients.

How We Work

We bring together passionate problem-solvers, innovative technologies, and full-service capabilities to create opportunity with every insight.

Learn more

Careers & Culture

What is culture? Culture is how we do things around here. It is the combination of a predominant mindset, actions (both big and small) that we all commit to every day, and the underlying processes, programs and systems supporting how work gets done.

Learn more

Podcast: Scope of profits interest and similar awards

04.25.2024 | Duration: 14:52

We discuss the FASB's ASU 2024-01 on the scope of ASC 718 for profits interest awards.

Share
Listen now
Backward 10s Play Pause Forward 10s
0:00
00:00

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

 

 

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

Meet our team

Image of Nick Burgmeier
Nick Burgmeier
Partner, Dept. of Professional Practice, KPMG US
Image of Rivka Grund-Sender
Rivka Grund-Sender
Managing Director, Dept. of Professional Practice, KPMG US

Thank you!

Thank you for contacting KPMG. We will respond to you as soon as possible.

Contact KPMG

Use this form to submit general inquiries to KPMG. We will respond to you as soon as possible.

By submitting, you agree that KPMG LLP may process any personal information you provide pursuant to KPMG LLP's Privacy Statement.

An error occurred. Please contact customer support.

Job seekers

Visit our careers section or search our jobs database.

Submit RFP

Use the RFP submission form to detail the services KPMG can help assist you with.

Office locations

International hotline

You can confidentially report concerns to the KPMG International hotline

Press contacts

Do you need to speak with our Press Office? Here's how to get in touch.

Headline