FASB to Propose Changes to Accounting for Income Taxes for Intercompany Transfers and the Presentation of Deferred Taxes
Oct 27, 2014
From the Financial Reporting Network
This edition of Defining Issues reports that the FASB recently decided to propose changes to accounting for income taxes to require recognition of the income tax consequences of intercompany asset transfers and to classify all deferred tax assets and liabilities as noncurrent in a classified statement of financial position. The Board expects to issue a proposed Accounting Standards Update (ASU) in early 2015.