Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

We begin this edition of The quarter close with a closer look at the accounting for tax credits, including those included in the Inflation Reduction Act of 2022, as more companies look for opportunities to take advantage of these incentives. Looking for an update on SEC comment letter trends? Head to Ask the National Office, where we provide the latest areas of focus along with other timely financial reporting reminders.

Although the SEC has not yet released its final rules on climate disclosures, many US companies will be impacted by global sustainability reporting frameworks that are nearing finalization. We provide the latest updates and links to additional resources. In other regulatory developments, the SEC issued final rules expanding the disclosure requirements for share repurchases, which will be effective in 2023 for many registrants.

In standard-setting updates, we summarize the feedback on new income tax disclosures proposed by the FASB. Meanwhile, the FASB continues to make progress on its other active projects, including accounting for software costs. We keep you up to date on recent decisions as those projects develop.

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 second quarter of 2023.

Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to [email protected].