Two advisories from FASB will help entities implement new
rules. One defines the “reporting unit” of an enterprise as a key
element in testing for goodwill impairment resulting from an
acquisition. A second release clarifies certain provisions for making
the transition to two new standards—FASB Statement nos. 141,
Business Combinations, and 142, Goodwill and Other
Intangible Assets. ( www.fasb.org/eitf/eitfmain.html
)
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Get your clients ready for tax seasonThese year-end tax planning strategies address recent tax law changes enacted to help taxpayers deal with the pandemic, such as tax credits for sick leave and family leave and new rules for retirement plan distributions, as well as techniques for putting your clients in the best possible tax position.
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