Heads Up — FASB Issues ASU on Presenting an Unrecognized Tax Benefit When NOL Carryforwards Exist
Volume 20, Issue 23
This Heads Up discusses the FASB’s recently issued Accounting Standards Update No. 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists. The FASB’s objective in issuing this ASU is to eliminate diversity in practice resulting from a lack of guidance on this topic in current U.S. GAAP.
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