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FASB proposes rule change, offers guidance on tax reform

Tammy Whitehouse | January 22, 2018

The Financial Accounting Standards Board is churning out guidance on how companies should account for the effects of the Tax Cuts and Jobs Act, with a proposed change to accounting standards and a series of questions and answers.

The FASB issued a proposed Accounting Standards Update to address the stranded income tax effects that companies have been stocking away in “other comprehensive income” in the equity statement. To answer concerns about confusion and mismatching...

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