- The IASB is mulling changes to the test for determining if goodwill has dropped in value. The board has yet to determine what changes it will make, but at its most recent meeting it ruled out reverting to the old standard allowed companies to amortize goodwill.
- The FASB plans to release in February a proposal to add a fifth benchmark interest rate to the acceptable rates for hedge accounting. The proposed benchmark rate is being considered by the Federal Reserve as an alternative to the London Interbank Offered Rate (LIBOR), which was tarnished by the 2012 rate-rigging scandal.
- The Tax Cuts and Jobs Act will have implications for the preservation and rehabilitation of our existing buildings across the country.
- The final Republican tax bill repealed the Affordable Care Act’s (ACA) individual mandate, further weakening the ACA.
- The Tax Cuts and Jobs Act’s international tax provisions change the way U.S. multinationals are taxed and will conduct business abroad as well as how foreign companies will handle U.S. business.
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