FASB Proposes Changes to Accounting for Income Taxes on Intercompany Transfers and Deferred Tax Classification
Jan 29, 2015
From the Financial Reporting Network
This edition of Defining Issues reports that the FASB recently issued proposed Accounting Standards Updates that would require entities to recognize the income tax consequences of intercompany asset transfers and classify all deferred tax assets and liabilities as noncurrent in a classified statement of financial position. Comments on the proposed ASUs are due by May 29, 2015.