New FASB Guidance on Accounting for Deferred Taxes

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FASB ASU 2105-17 requires all deferred tax assets and liabilities to be classified as noncurrent on an entity’s balance sheet. This ASU becomes effective in 2016 for public companies and 2017 for all other entities. Other important ASUs became effective at the end of 2015.

Read the article from the Spring 2016 GYF Perspectives.

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Grossman Yanak & Ford LLP, a certified public accounting and consulting firm, was founded in 1990. The firm is led by six partner and serves clients in Pittsburgh and the surrounding region.

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