Understanding Accounting
Menu
External resource

FASB Statement 109 — historical income-tax model summary

FASB historical summary of the current tax and deferred tax objectives and asset and liability architecture now codified in Topic 740.

Authority and currency

About this authority

Publisher
Financial Accounting Foundation
Standing
Primary authority
Version
Historical Statement 109 summary
Relevant parts
Objectives and basic principles
Currency
superseded · checked Aug 8, 2026

Open the primary source

The summary supplies the historical architecture: recognize current taxes payable or refundable and the deferred consequences of events already reflected in financial statements or tax returns. Current Topic 740 controls every live conclusion.