| Title: | FIN 48 Briefing |
| Price: | $195.00 |
| Publication Date: | Jan 01, 2008 |
| Source: | Audit Analytics |
| Author: | Audit Analytics Trend Reports |
| Abstract: | In July 2006, the FASB issued Interpretation No. 48, Accounting for Uncertainty in Income Taxes, an interpretation of FASB statement No. 109 (FIN 48). Under FIN 48, a company may recognize an uncertain tax position only if it is more-likely-than-not. Our analysis reveals that during the first ten months of 2007 almost 25% of the registrants disclosed a material impact due to FIN 48 adoptions. More than 67% of FIN 48 restatements had a negative impact on beginning retained earnings. About 22% had a positive impact. Of the major accounting firms, Deloitte clients comprised the largest number of adoptees, making up 24.7% of all FIN 48 filers and 43% of their own client base. |
| Word Count: | 2611 |
| Length: | 12 Pages |
| Document ID: | 4 |
| Format: | 
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