Proposed enhancive update ASU 2023-09 Adoption

The AICPA’s Financial Reporting Executive Committee (FinREC) is requesting your feedback on a proposed enhancive update to the AICPA Accounting Guide Brokers and Dealers in Securities, related to FASB ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. This proposed update

1. revises footnotes 2 (Significant Accounting Policies) and 20 (Income Taxes) in the notes to financial statements in chapter 6 and

2. reflects current U.S. statutory income tax rate of 21% resulting in recalculated amounts presented.

Interested parties are