As a leader in real estate financial reporting, KPMG LLP creates Real estate accounting and reporting: The impact of new standards and guidance annually to assist real estate companies and funds with their financial accounting, regulatory, and compliance reporting requirements.
This year’s report prioritizes the effects of COVID-19 on the global and American economies. Through this unprecedented situation, numerous issues have arisen that must be evaluated to determine the financial, accounting, and reporting impact as companies prepare for year-end reporting to stakeholders. The balance of the report provides technical insights on accounting rules that went into effect in 2020, including:
- Goodwill impairment simplification
- The LIBOR reference rate reform for public companies
- The new revenue recognition guidance for private companies