FASB Releases Documents for LIHTC Accounting Change
By Glenn Petherick
1 min read
On January 15, the Financial Accounting Standards Board (FASB) issued the documentation for an accounting rule change ratified in December permitting public companies, if they qualify, to elect to use a new proportional amortization method of accounting for their low-income housing tax credit investments rather than the less favorable equity method. Accounting Standards Update No. 2014-01 can be viewed at FASB’s Web site (http://www.fasb.org).
(For background, see Tax Credit Advisor, January 2014, p. 8.)
