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ASU 2023-09: FASB’s New Income Tax Disclosures for Private Entities

Cherry Bekaert

On December 14, 2023, the Financial Accounting Standards Board (FASB) issued final guidance concerning income tax disclosures, labeled Accounting Standards Update No. For businesses surpassing specified quantitative thresholds, further disaggregation by taxing jurisdictions may be required.

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ASU 2023-09: New FASB Rule Enhances Income Tax Disclosures for Public Companies

Cherry Bekaert

The Financial Accounting Standards Board (FASB) released final guidance regarding income tax disclosures on December 14, 2023. Accounting Standards Update No. Business entities may be required to further disaggregate information by taxing jurisdictions when quantitative thresholds are exceeded.

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Online Accountants Forums: The 14 Best

Ryan Lazanis

Check out this screenshot below taken from Future Firm Accelerate: This interactive environment acts as a powerful catalyst for discovering and connecting with clients or referral partners who are in need of assistance with tax services, financial filings, and various other financial processes.

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Friday Footnotes: Why People Leave Public Accounting; Audit Workloads Up; Terrorist Clients (Literally) | 12.2.22

Going Concern

Along with being the biggest, the Big Four are arguably the best, at least according to Accounting Today’s 2021 rankings of U.S. audit and accounting firms, which measure the firms’ revenue to determine the standings. If they do, their financial statements can remain private or be shared only with regulators.