Key accounting and financial reporting topics addressed in this issue include the following: 1) Challenges associated with inflation, supply chain disruptions, and labor shortages 2) The SEC’s release of various statements, including those on (i) special-purpose acquisition company transactions; (ii) environmental, social, and governance matters; and (iii) the transition away from LIBOR as a reference rate 3) FASB standard-setting developments in 2021 4) The International Accounting Standards Board’s (i) amendments to its guidance on (a) disclosure of accounting policies and (b) deferred taxes related to assets and liabilities arising from a single transaction and (ii) proposals that would enhance the disclosure requirements for supplier arrangements and amend its guidance on classification of long-term debt with covenants 5) The IFRS Foundation’s creation of a new International Sustainability Standards Board.

This publication was released by our US firm.

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