FASB Looks at Financial Reporting of Uncertain Tax Positions, Creates Complicated More-Likely-Than-Not MethodologyStaff Editors
aFurther. FASB Statement No. 5 standard of 'probable." is a higher threshold to overcome than FIN 48's 'more likely than not,' 更加进一步。 FASB声明没有。 5 ‘可能标准。“比飞翅48's是可能克服的更高的门限‘比没有’,[translate]
Subtopic 740-10 distinguishes between routine business transactions that are clearly more likely than not to be fully sustained on audit and those tax positions that have either factual or legal uncertainty. A business’s normal operating expenses, such as clerical salaries, utilities, office supplies...
Companies may be more likely to avoida charge against income if they elect the tax-law-ordering approach. This is because it results in recording windfall tax benefits to APIC sooner than the with-and-without approach and thus provides a larger pool to offset future shortfalls. David Randolph,...
A proposed Accounting Standards Update would establish guidance for the accounting and disclosure of environmental credits and obligations. Read more.
and improve the usefulness of financial statement disclosures. However, industry and entity-specific implementation variances are likely, since the new standard is principles-based (vs. rules-based), and more judgment and estimates are required than under “legacy” GAAP. Be wary and alert so that...
FASB的会计理论一.pdf,Statement of Financial Accounting Concepts No. 1 CON1 Status Page Objectives of Financial Reporting by Business Enterprises November 1978 Financial Accounting Standards Board of the Financial Accounting Foundation 401 MERRITT 7, P.O.
The scope of PCD assets is being changed to “more-than-insignificant deterioration,” which will likely broaden the scope of PCD assets relative to current guidance. Troubled debt restructurings will follow CECL to measure credit losses.
performing a qualitative assessment of goodwill before completing the quantitative two-step process described in FASB Statement No. 142. Coca-Cola and Macy’s both test intangible assets that have indefinite useful lives, such as goodwill, annually for impairment or more frequently if economic ...
Ramanna (Unreliable accounts: How regulators fabricate conceptual narratives to diffuse criticism. Accounting, Economics and Law: A Convivium , this issue) argues that the FASB’s new Conceptual Framework deemphasizes reliability, and especially verifiab