Read the articles Implications of Pushdown Accounting and Insights into Pushdown Accounting from The CPA Journal. The CPA Journal is known as the "Voice of the Profession," and is the monthly flagship publication of the New York State Society of CPAs and the primary resource for members. An award-winning magazine and finalist for Excellence in Journalism (2018, 2017, FOLIO Magazine Awards), The Journal has over 95% nationally focused content written by thought leaders in the finance and accounting industry.

Write two paragraphs of at least five sentences that include what you learned about the implications of ASU 2014-17 and pushdown accounting on forming a subsidiary. Also about new GAAP developments.