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ASPE Practice Aid: Section 1591, Subsidiaries

New Section 1591 is applicable for fiscal years beginning on or after January 1, 2016. This publication provides an overview of the highlights of the Section including a new scope exemption, new control guidance and recognition options. It also provides examples of common scenarios entities could encounter in adopting this new Section and the transitional relief available.

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Applying financial reporting standards can be quite complex. The BDO team can help you assess your situation and prepare for the opportunities and challenges involved.

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