Global Tax Accounting Services Newsletter (January– March 2014) - follow recent global accounting and reporting developments

Global Tax Accounting Services Newsletter ()

In this release we provide an update on a variety of accounting and reporting developments, including:

  • country-by-country reporting
  • auditor rotation proposals in the European Union
  • an accounting alternative for non-public entities in relation to goodwill; and
  • the International Financial Reporting Standards (IFRS) Interpretation Committee’s guidance on some tax related matters

We also draw your attention to some significant tax law and tax rate changes that occurred around the globe during the quarter ended 31 March 2014.

Finally, we highlight some similarities and differences for income tax accounting under IFRS and US Generally Accepted Accounting Principles (US GAAP), and provide guidance on when tax law changes should be accounted for under these frameworks.