FASB announces new accounting standard On December 14, 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-09, Income Taxes (Topic 740). The intent of the standard is improve income tax disclosures to provide more useful insight to the users of the financial statements. Impact on public entities Under the new standard, … Continue reading Improvements to Income Tax Disclosures for Users of Financial Statements