FASB Reconciliation Report (AM295)

Run FASB Reconciliation Report (AM295) to print a report that compares either book value (FASB 109) or depreciation expense (FASB 96) for the general ledger and tax books. Select the type of report you want in the Report Option field. Each type of reconciliation report creates a separate report. Since this report prints by book, items are not on the report.

The book value reconciliation report includes each asset basis, the asset book value, and the difference for each book. The depreciation expense report includes each asset basis, the new year's annualized depreciation, and the difference for each book. This report can help determine the income tax payable accrual.