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Question 2 Proposed ASU for Topic 740 (paragraph BC28) states the following: Many entities use...

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Accounting

Question 2

Proposed ASU for Topic 740 (paragraph BC28) states the following:

Many entities use the practicability exception in paragraph 740-30-50-2(c) and do not disclose the unrecognized deferred tax liability on indefinitely reinvested foreign earnings..

One proposal is for the Board to remove the practicability exception (that is, requiring disclosure even if it is not practicable to do so). Discuss the costs and benefits of such a proposal.

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