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ASU 2015-17 to simplify balance sheet classification of deferred taxes

Posted by Mark B. Stamer CPA

Mar 8, 2016 6:30:00 AM

In November 2015, the Financial Accounting Standards Board (FASB) released Accounting Standards Update (ASU) 2015-17.  This update, part of the Simplification Initiative, is intended to reduce complexity in accounting standards and to align the presentation of deferred income tax assets and liabilities with International Financial Reporting Standards (IFRS).

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Topics: deferred tax assets, asu 2015-17, deferred income tax, ifrs, international financial reporting standards, accounting standards update

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