We summarize the FASB's new guidance
Our guide reflects recent developments in US GAAP including tax reform
Accounting for income taxes is a perpetual hot topic in the U.S., posing many challenges for preparers, users and auditors, particularly in the wake of tax reform.
Among those challenges are:
The ever-changing landscape of income tax law requires analysis on a continuous basis across multiple jurisdictions. In addition to being complex, the relevant accounting standards contain many nuances, and applying the standards oftentimes involves significant judgments.
US Tax Accounting Services Leader, PwC US
Partner, National Professional Services Group, PwC US