To view the full text, launch or detach the following PDF file: The quarter close - first quarter 2024 (PDF 360kb)

The SEC’s final climate rule may be the headline news; however, companies shouldn’t lose sight of other requirements impacting first quarter reporting. As we kick-off a new year, use our “cheat sheet” summary to keep track of new accounting guidance effective in 2024. In addition, Pillar Two tax legislation is now effective in several jurisdictions around the world – in Ask the National Office, we discuss the implications.

Marking a significant milestone in sustainability reporting, the SEC voted on March 6 to finalize its long-awaited climate disclosure rules. Head straight to Regulatory developments for more details and links to the resources you need to get up to speed on the final requirements. The SEC’s rule is just one of the sustainability reporting requirements that may impact you. This quarter we launched the first chapter of our new global Sustainability Reporting Guidance – use it as a one-stop shop for guidance on the major required sustainability reporting frameworks around the globe.

After issuing three significant new standards in the fourth quarter of 2023, the FASB continues to make progress on the remaining projects on its technical agenda. We provide a preview of what to expect in standard setting in 2024.

In this edition of The quarter close, we highlight these and other relevant accounting and reporting topics you should consider as you close out the first quarter of 2024.