FASB finalizes accounting for 'stranded' tax effects - tax reform

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​The Financial Accounting Standards Board recently issued Accounting Standards Update ('ASU') 2018-02, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income, that allows companies to reclassify to retained earnings the stranded tax effects in accumulated other comprehensive income ('AOCI') from the newly-enacted US Tax Cuts and Jobs Act.

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Jonathan Swerling

Jonathan Swerling

US Tax Marketing Leader, PwC US

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