The Tough Lessons Learned from FIN 48

Sponsored By Deloitte

Topics:

Accounting > Accounting Standards

Compliance & Governance

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Abstract:

Financial Accounting Standards Board (FASB) Interpretation No. 48, Accounting for Uncertainty in Income Taxes (FIN 48), has required enterprises to change fundamentally how they recognize and measure tax benefits associated with tax positions. Under FIN 48, enterprises must use a two-prong recognition and measurement analysis to determine the amount of tax benefit to recognize in the financial statements. The adoption of FIN 48 has required enormous effort on the part of enterprises and their tax departments over the past year and presented a variety of challenges.

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Released: January 03, 2008

Length: 6 pages

Format: PDF (1468 kb)

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