FASB Proposes Simplifications to Income Tax Accounting

The Financial Accounting Standards Board has issued two proposed accounting standard updates to simplify the accounting for income taxes. One would simplify accounting for the tax effects of intra-entity asset transfers, while the other focuses on the classification of deferred tax assets and liabilities that are carried on the balance ...


Already a Member? SIGN IN here. If you’re not, click HERE for more information on our 30-day free trials and why you’re not able to view this story.