Proposed improvements to disclosure requirements for income taxes.

• Position: Member milestones

The Financial Accounting Standards Board issued a proposed Accounting Standards Update (ASU) that is intended to enhance disclosure requirements on income taxes.

[ILLUSTRATION OMITTED]

The proposed ASU would both modify existing disclosure requirements and provide additional disclosure requirements for income taxes. These modifications and additions include describing an enacted change in tax law, disaggregating certain income tax information between foreign and domestic, and explaining the circumstances that caused a change in assertion about the indefinite reinvestment of...