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In the third quarter of 2021, many companies are keeping a close eye on developments in Washington, including infrastructure legislation and tax reform. The timing for tax reform is not yet clear; however, companies will need to react quickly if new tax laws are enacted. We summarize the key tax reform proposals and how companies can plan ahead.

SEC Chair Gary Gensler went on record this quarter with his views on the crypto ecosystem, comparing it to the “wild West” and calling for more investor protection. Whether it’s stablecoins or CBDCs, if you’re having trouble keeping up on the crypto lingo, you’re not alone. We provide a primer on crypto assets and some of the related accounting considerations.  

Another phrase you may begin hearing more often is energy efficiency-as-a-service. We explore the accounting implications of this growing ESG trend, including the potential for embedded leases.

In standard-setting news, the FASB has added projects to make course corrections on accounting for credit losses and issued new narrow-scope standards you’ll want to have on your radar. 

This edition of The quarter close highlights these and other relevant accounting and reporting topics you should consider as you close out the third quarter of the year.

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