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Lila Leno
Apr 8, 2019

The FASB’s new guidance in ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement, impacts the fair value disclosures of both public and private companies.

ASU 2018-13 amends the disclosure requirements for recurring and nonrecurring fair value measurements by removing, modifying, and adding certain disclosures.
 
The following disclosure requirements were removed from Topic 820:

George E. Constantine
Mar 26, 2019

As part of a broader shift in reducing its administrative burdens, the Internal Revenue Service (IRS) will no longer send "central" organizations that hold group tax exemptions a yearly roster of each affiliated "subordinate" organization covered by the group ruling. For decades, this roster, also known as the "List of Parent and Subsidiary Accounts," served as a filing reminder and as a simple way to keep the IRS' records of the subordinates included on a group exemption accurate and up-to-date.

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