In this release, we discuss a variety of accounting and reporting developments, including:
- outcomes of the Financial Accounting Foundation's review of FAS 109
- highlights of the 2013 American Institute of CPAs conference
- update on current and proposed country-by-country reporting regulations
- European Commission's amendments to Parent Subsidiary Directive.
We draw your attention to some significant tax law and tax rate changes that occurred during the quarter ended 31 December 2013.
Additionally, we provide tax accounting considerations regarding indefinite reinvestment assertions, valuation allowance assessments, and uncertain tax positions-three concepts within accounting for income taxes the SEC is often focused on.