BAN2324. Understanding ASU 2023-02 and its Impact on Investments in Tax Credit Programs

This session will provide a detailed analysis of the newly issued Accounting Standards Update - ASU 2023-02, which offers an elective expansion of the proportional amortization method of accounting for investments in qualifying tax credit equity structures. Topics to be discussed include background information related to the ASU, qualification requirements for determining which tax credit equity structures are eligible for its application, and issues to consider when adopting the new standard. The discussion will include detailed examples.

Learning Objectives:

• Identify the reasoning behind the issuance of the new standard
• Determine which tax credit equity structures qualify for the new standard and how it is applied
• Analyze adoption issues and considerations related to the new standard