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ESG and the financial statements

Defining Issues | March 2021

FASB staff educational paper highlights how environmental issues may affect the financial statements.

The FASB staff paper discusses the intersection of environmental, social and governance matters with the accounting standards, and highlights how environmental issues may affect the financial statements.


  • All companies

Key Impacts:

The paper highlights the following as examples of how environmental matters might affect financial statements:

  • Presentation on a going concern basis
  • Disclosure of risks and uncertainties
  • Valuation of inventories
  • Impairment of nonfinancial assets
  • Useful lives and salvage values of long-lived assets
  • Loss (and gain) contingencies
  • Environmental obligations
  • Asset retirement obligations
  • Income taxes
  • Fair value measurement

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Accounting Research Online

Access our accounting research website for additional resources for your financial reporting needs.

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