Recently, FASB issued a new Accounting Standards Update (ASU 2019-12), Simplifying the Accounting for Income Taxes. The new standard amends section 740 of the Accounting Standards…
FASB Streamlines Income Tax Accounting
Some Simplification for Franchise Taxes
Recently, FASB issued a new Accounting Standards Update (ASU 2019-12), Simplifying the Accounting for Income Taxes. The new standard amends section 740 of the Accounting Standards…
The Challenge of Accounting for Goodwill
Impact of a Possible Return to Amortization
Determining how to account for the goodwill found in business combinations has been a hotly debated topic for decades. Standards setters have promulgated numerous different…
In January 2017, FASB issued Accounting Standards Update (ASU) 2017-04, Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment, which eliminated the calculation of implied…