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Abstract
For anyone concerned with US tax accounting and reporting, Russ Golden is a critical figure. The chairman of the Financial Accounting Standards Board, who took on the role on July 1 this year for a four-year term, and his other directors are ultimately responsible for the setting of US Generally Accepted Accounting Principles, so what they decide about what US companies should include in their financial statements, and how they should do it, is closely watched. Possibly the most significant event in FASB's tax accounting work in 2013 came towards the end of the year when the board voted to authorise its staff to prepare a final version of its work on revenue recognition.