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FASB considers guidance on accounting for tax reform

Tammy Whitehouse | January 5, 2018

The Financial Accounting Standards Board is considering whether to take up any new rule-making as a result of the accounting consequences of the Tax Cuts and Jobs Act.

FASB is devoting its next open meeting to decide whether to add “a narrow-scope project” on the reclassification of certain tax effects that are currently sitting on corporate balance sheets in accumulated other comprehensive income, a line item in the equity area of the balance sheet. The...

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