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Do you have paper losses and actual losses from your stock market investments? With the recent down turn in the market and year-end quickly approaching, it's time to take another look at your investment accounts and determine the best tax use for those losses.
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We have been closely following the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) in their deliberations since the Original Exposure Draft was issued in August 2010. We wanted to share the attached White Paper prepared by CBRE, Inc., a real estate brokerage and advisory firm, that effective summarizes frequently asked questions on the proposed changes.
This memorandum provides an overview of the new model for revenue recognition exposed in Proposed Accounting Standards Update (ASU) No. 2011-230, Revenue Recognition (Topic 605): Revenue from Contracts with Customers, Revision of Exposure Draft Issued June 24, 2010.
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