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Chapter 8 — Accounting for Income Taxes in Separate Financial Statements

8.6 Change in Status of the Separate Reporting Entity

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.