FASB may consider replacing FAS 109 with IAS 12 Revised

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05 Jun 2008

In an interview published by BNA, FASB Director of Planning and Support Sue Bielstein said that the FASB staff plans to ask FASB to consider issuing an IASB-drafted rewrite of IAS 12 Income Taxes rather than proposing revisions to the US standard – FAS 109 Accounting for Income Taxes.

Ms Bielstein suggested that FASB may discuss this proposal before the end of this month.


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