8.6 Change in Status of the Separate Reporting Entity

Many circumstances can arise that result in the initial recognition or derecognition of current and deferred income taxes in separate or carve-out financial statements. See Section 3.5.2 for a general discussion of an entity’s accounting for a change in status and Sections 11.2.2 and 11.7.4.2 for a discussion of recognition and derecognition of income taxes in predecessor and successor financial statements (which may be separate or carve-out financial statements) and separate financial statements of an acquiree.