QBU - What does QBU stand for? Acronyms and abbreviations by the Free Online Dictionary.

Acronym

Definition

QBU

Qualified Business Unit

QBU

Query Based Update

? References in periodicals archive
Broadly speaking, a Section 987 QBU is a trade or business conducted in a currency different from its owner's currency, and for which a separate set of books and records is kept, on which the assets and liabilities of the trade or business are recorded. The new proposed section 987 regulations by Cunningham, Kevin M. / Tax Executive 987-2 for determining taxable income and exchange gain or loss of a QBU with a functional currency different from the taxpayer's currency. Forms of overseas operations: this two-part article explores the ... by Shum, Michael G. / The Tax Adviser The Institute's tax executive committee submitted recommendations on IRS-proposed revisions to section 987 of the Internal Revenue Code that require a taxpayer to recognize exchange gain or loss--upon receiving a remittance from a qualified business unit (QBU)--by apportioning its basis in the QBU to each remittance and then recognizing exchange gain or loss based on the difference between the value of the remittance and the basis apportioned to it (www. AICPA comments on IRS currency transaction proposal by Journal of Accountancy More results

? References in periodicals archive

Broadly speaking, a Section 987 QBU is a trade or business conducted in a currency different from its owner's currency, and for which a separate set of books and records is kept, on which the assets and liabilities of the trade or business are recorded.

The new proposed section 987 regulations by Cunningham, Kevin M. / Tax Executive

987-2 for determining taxable income and exchange gain or loss of a QBU with a functional currency different from the taxpayer's currency.

Forms of overseas operations: this two-part article explores the ... by Shum, Michael G. / The Tax Adviser

The Institute's tax executive committee submitted recommendations on IRS-proposed revisions to section 987 of the Internal Revenue Code that require a taxpayer to recognize exchange gain or loss--upon receiving a remittance from a qualified business unit (QBU)--by apportioning its basis in the QBU to each remittance and then recognizing exchange gain or loss based on the difference between the value of the remittance and the basis apportioned to it (www.

AICPA comments on IRS currency transaction proposal by Journal of Accountancy

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