14.9 Additional Disclosure Requirements

An entity that becomes a public registrant may be required to provide additional disclosures about its income taxes that were not required in prior financial statements. In addition to providing the disclosures described below, public entities must present, under SEC Regulation S-X, Rule 12-09, a “[l]ist, by major classes, [of] all valuation and qualifying accounts and reserves not included in specific schedules,” including valuation allowances related to DTAs. This information can be disclosed either in the footnotes to the financial statements or in a supplemental Schedule II in an entity’s annual filings. It should also include a rollforward of such accounts, showing additions charged to costs and expenses, additions charged to other accounts, and deductions throughout the year.