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FASB Summaries |
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Statement No. 37 Balance Sheet Classification of Deferred Income Taxes-an amendment of APB Opinion No. 11 STATUS Issue Date: July 1980 Effective Date: For periods ending after December 15, 1980 Affects: Amends APB 11, paragraph 57 Affected by: Superseded by FAS 96 and reinstated by FAS 109 Paragraphs 4, 17, 18, and 26 through 29 and footnotes 1 through 3 and footnotes * and † of paragraph 4 superseded by FAS 109 Paragraphs 19 through 25 amended by FAS 109 Abbreviations for Accounting Pronouncements FAS - FASB Statements FIN - FASB Interpretations FTB - FASB Technical Bulletins APB - APB Opinions AIN - AICPA Interpretations ARB - Accounting Research Bulletins CON - FASB Concepts EITF - EITF Issues Q&A - FASB Implementation Guides SUMMARY This Statement specifies the basis for classification of deferred income taxes in a classified balance sheet. Deferred income taxes related to an asset or liability are classified the same as the related asset or liability. Deferred income taxes that are not related to an asset or liability are classified according to the expected reversal date of the timing difference. Copyright by Financial Accounting Standards Board. All Rights Reserved. Used by Permission.
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