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The FASB added a narrow-scope project to its standard-setting agenda on the reclassification of tax effects stranded in accumulated other comprehensive income as a result of the Tax Cuts and Jobs Act and discussed other financial reporting issues. The FASB staff will publish a Staff Q&A to the FASB website saying that private companies and not-for-profit entities can apply the accounting guidance the SEC staff issued in Staff Accounting Bulletin (SAB) 118. The FASB staff also provided preliminary views on the accounting for certain provisions of the Act, which will be further discussed at next week’s EITF meeting.