Insights

Fresh thinking and actionable insights that address critical issues your organization faces.

Learn more

Resources

Services

KPMG's multi-disciplinary approach and deep, practical industry knowledge help clients meet challenges and respond to opportunities.

Services to meet your business goals

Technology Alliances

KPMG has market-leading alliances with many of the world's leading software and services vendors.

View all Alliances

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
Relevant Results
Sorry, there are no results matching your search.
Autocomplete suggestions are available. Use up and down arrows to review and enter to select.
See more results

Q2 2023 Quarterly Outlook

Issues & Trends | June 2023

Our quarterly update on accounting and financial reporting developments, including SEC matters and FASB activity.

Download PDF
Share

KPMG reports on major accounting and financial reporting developments that could affect companies in the current period or near term. This quarter we feature a new excise tax effective in 2023, the latest on ESG reporting, and other recent SEC and FASB headlines.

Applicability

  • All companies

Key impacts

For Q2 2023:

  • The new excise tax under the Inflation Reduction Act of 2022 (IRA) is effective in 2023 for calendar year-end public companies within the scope of the legislation.
  • The FASB’s technical agenda is packed with broad-scoped projects – many of which will impact financial statement disclosure in some way (e.g. disaggregation of income statement expenses, income tax disclosure and segments).
  • The SEC remains focused on enhanced transparency and released a final rule which will require issuers to provide additional disclosure about their share repurchases.
  • Companies should continue to monitor for macroeconomic trends and events and consider their potential impacts on financial reporting and disclosure.

Report contents

  • Current quarter financial reporting matters
  • New standards and guidance
  • Projects and agenda priorities
  • Recommended reading and CPE opportunities

Download the document:

Quarterly Outlook June 2023

Download PDF

Explore more

Resource
Webcast Replay Webcast Upcoming Listen Now

Q2 2023 Quarterly Outlook

KPMG professionals discuss this quarter’s accounting and financial reporting headlines.

Learn more

Quarterly Outlook

Quarterly updates on accounting and financial reporting developments, including SEC matters and FASB activity.

Read more

Environmental, Social and Governance (ESG) reporting

KPMG guidance and articles for financial reporting professionals.

Read more

SEC matters

Keeping you up to date about SEC staff positions on reporting matters and proposed rulemaking that will affect registrants

Read more

Meet our team

Image of Angie Storm
Angie Storm
Deputy Chief Accountant, Dept. of Professional Practice, KPMG US
Read bio
Image of Robin Van Voorhies
Robin Van Voorhies
Senior Director, Dept. of Professional Practice, KPMG US
Read bio
Image of Angie Storm
Angie Storm
Deputy Chief Accountant, Dept. of Professional Practice, KPMG US
Read bio
Image of Robin Van Voorhies
Robin Van Voorhies
Senior Director, Dept. of Professional Practice, KPMG US
Read bio

Accounting Research Online

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

Access ARO

KPMG. Make the Difference.


Some or all of the services described herein may not be permissible for KPMG audit clients and their affiliates or related entities.

The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation. KPMG LLP does not provide legal services.

The information contained herein is not intended to be “written advice concerning one or more Federal tax matters” subject to the requirements of section 10.37(a)(2) of Treasury Department Circular 230.

© 2024 KPMG LLP, a Delaware limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved.

For more detail about the structure of the KPMG global organization please visit https://home.kpmg/governance.

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.

Search now!

Submit RFP

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

Submit

Office locations

View locations

International hotline

You can confidentially report concerns to the KPMG International hotline

Learn more

Press contacts

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

Contact

Headline