Money Street News
  • Please enable News ticker from the theme option Panel to display Post

The 2023 edition of the KPMG annual illustrative financial statements for hedge funds and private equity funds is now available. The illustrative financial statements are designed to assist you in your year-end planning process, offering a wide-ranging guidebook of sample U.S. GAAP financial statements for private funds and includes examples for domestic, offshore, master/feeder, and fund of funds structures.

Updates to the 2023 edition include:

  • Update to Recent accounting standards disclosures pertaining to ASU 2022-03 for fair value measurement of equity securities subject to contractual sale restrictions.
  • Update to the Summary of significant accounting policies and Recent accounting standards disclosures pertaining to ASC Subtopic 326-20 for expected credit losses for financial assets measured at amortized cost.
  • Update to Commitments and contingencies disclosures to include obligations to fund additional investments.
  • Update to Significant risks and uncertainties disclosures to include guidance for compliance with ASC Topic 275 based on facts and circumstances.

Source link

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *


Get our latest downloads and information first. Complete the form below to subscribe to our weekly newsletter.

No, thank you. I do not want.
100% secure your website.