Q4 2024 Quarterly Outlook
Issues & Trends | December 2024
Our quarterly update on accounting and financial reporting developments, including SEC matters and FASB activity.
KPMG reports on major accounting and financial reporting developments that could affect companies in the current period or near term. This quarter we feature highlights from the 2024 AICPA and CIMA Conference on Current SEC and PCAOB Developments, the latest on sustainability reporting, FASB standard-setting activity and more.
Key Impacts:
For Q4 2024:
- The FASB issued its highly anticipated standard on disaggregation of income statement expenses (DISE), introducing significant changes to public company financial statement disclosures. While the standard is not effective for public companies until 2026, it may be the most impactful ‘disclosure only’ FASB standard to date. The FASB is urging early preparation and thoughtful implementation to effectively meet the new disclosure requirements.
- The FASB also issued proposals on several high-interest projects – including software costs, interim reporting and government grants – with plans to issue more before the end of the year. The FASB is launching three Invitations to Comment, including its most extensive stakeholder outreach initiative since the 2021 Agenda Consultation.
- The SEC’s Climate Rule is not expected to progress but plenty of other sustainability-related developments loom ahead for US companies. California is working to entrench its climate reporting, there is no slow-down in developments from the European Union, and IFRS® Sustainability Disclosure Standards continue to gain traction.
Report contents
- Current quarter financial reporting matters
- New standards and guidance
- Projects and agenda priorities
- Recommended reading and CPE opportunities
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Q4 2024 Quarterly Outlook
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Q4 2024 Quarterly Outlook webcast
KPMG professionals discuss this quarter’s accounting and financial reporting headlines.
Resource
2024 AICPA & CIMA Conference
The conference highlights you need from the AICPA & CIMA Conference on Current SEC and PCAOB Developments
Quarterly Outlook
Quarterly updates on accounting and financial reporting developments, including SEC matters and FASB activity.
Sustainability reporting
KPMG guidance and articles for financial reporting professionals.
SEC matters
Keeping you up to date about SEC staff positions on reporting matters and proposed rulemaking that will affect registrants
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