Impact of Israel-Hamas War on accounting and financial reporting

While the economic effects of the Israel-Hamas War are still evolving, entities with operations, suppliers, or customers in Israel, Palestinian-occupied territories, and the larger Middle Eastern region could potentially be directly impacted as the war unfolds. Additionally, many entities may be indirectly impacted by the war, especially in the global energy, petrochemical, and capital markets, among other sectors.

NDS 2023-02, “Israel-Hamas War: Accounting and financial reporting considerations,” summarizes certain accounting and financial reporting considerations under U.S. GAAP that could apply for entities impacted by the Israel-Hamas War.