FASB redeliberates two proposed Accounting Standards Updates
During the 5 October 2015 Board meeting, the Financial Accounting Standards Board (‘FASB’) discussed external feedback received and began redeliberations on two proposed ASU’s: Income Taxes (Topic 740): Intra-Entity Asset Transfers, and Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes. In evaluating the intra-entity asset transfers topic, the Board asked the staff to
The FASB proposes two Accounting Standard Updates on income taxes
As part of a simplification initiative, the Financial Accounting Standards Board (‘FASB’) issued an exposure draft of two proposed Accounting Standard Updates (‘ASUs’) relating to the accounting for income taxes of the following items: Intra-Entity Asset Transfers Currently the buyer and the seller involved in intra-entity asset transfers are generally required to defer the income
FASB adds income tax accounting topics to its agenda
During its Agenda Prioritisation meeting on 13 August, 2014, the Financial Accounting Standards Board (FASB) added the following two income tax accounting topics to its agenda as part of its broader simplification initiative: Possible elimination of the exception for recognising deferred taxes on certain intercompany transactions under ASC 740-10-25-3(e); and Possible classification of all deferred tax
Global tax accounting April – June 2012
Accounting and reporting related updates IASB and FASB project on leasing Levies charged by public authorities Statutory accounts in the EU Financial reporting of income tax Recent and upcoming major tax law changes and the tax accounting implications Some tax rate changes Important considerations in tax law changes Tax Account refresher Backwards Tracing Update on
Global tax accounting January – March 2012
Tax accounting updates Hot topic – Tax accounting implications of the earthquake in Japan Adjustment of IAS 12 for investment property at fair value Joint IASB/FASB project on revenue recognition IASB and FASB project on leasing Recent and upcoming major tax law changes and the tax accounting implications Schedule UTP for US tax returns Summary
