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ASU 2019-12 — simplifying the accounting for income taxes

FASB amendment removing specified Topic 740 exceptions and clarifying targeted income tax accounting applications.

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Publisher
Financial Accounting Foundation
Standing
Primary authority
Version
ASU 2019-12
Relevant parts
Summary; Topic 740 amendments and transition
Currency
current · checked Aug 8, 2026

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The amendment removes specified exceptions, including one in intraperiod allocation, and makes targeted changes to interim enacted-rate treatment and other specialized areas. The course uses it to avoid teaching superseded shortcuts as the current general model.