Guide to FASB ASU 2023-09

In December 2023, the Financial Accounting Standards Board (FASB) published Accounting Standards Update (ASU) 2023-09, which will significantly impact your current process for calculating income tax provisions and preparing disclosures.

The changes go into effect for annual periods beginning after Dec. 15, 2024, for public companies. This eBook explains the changes and provides insights and resources to help you remain compliant.

Get the details behind these key updates and more:

• How FASB disclosure rules are changing – understand changes to the main provisions for income tax disclosures, including rate reconciliations.
• When the disclosure updates go into effect – get a timeline of when the changes are effective for public companies versus other business types.
• Impacts to the provision process – understand specific requirements surrounding the income tax rate reconciliation, including:
  • The required use of both percentages and currency amounts.
  • The requirement to disclose the rate when using a rate other than the federal corporate income tax rate.
  • The requirement to provide a description of the jurisdictions that make up more than 50% of the effect of state and local income tax category.

Download your complimentary copy for everything you need to know.