This week, the FASB issued an amendment to a previously proposed Accounting Standards Update that would, if approved, “enhance the transparency” of public companies’ reporting of income taxes paid. FASB Accounting Standards Update (ASU) No. 2023-ED100. In doing so, FASB seems to make a baby step toward embracing CbC reporting for book purposes.
Continue Reading Transfer-parency Pricing: New FASB Proposal