BAN2414. ASU 2023-02 Adoption Issues for Tax Credit Equity Investments and Tax and Financial Statement Impact of Purchased Tax Credits

This session will provide an overview of adoption issues related to the newly effective 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. This session will also discuss tax and accounting matters pertaining to the purchase of qualified energy credits on the secondary market.

Learning Objectives:

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