CCH Learning Center

FIN 48: Accounting for Uncertainty in Income Tax: An interpretation of FASB No. 109

In February 1992, the Financial Accounting Standards Board (FASB) issued FASB Statement No. 109, Accounting for Income Taxes. In addition, the FASB released an implementation guide, FASB Special Report, A Guide to Implementation of Statement 109 on Accounting for Income Taxes, and the Emerging Issues Task Force (EITF) has dealt with a number of Statement 109 implementation issues. As a result, in July 2006, the FASB issued FASB Interpretation (FIN) No. 48, Accounting for Uncertainty in Income Taxes—an Interpretation of Statement No. 109, to address financial statement recognition and measurement by an enterprise of a tax position taken or expected to be taken in a tax return. This course provides a thorough review of FIN 48. Topics covered include:

• Overview of FIN No. 48
• Background
• Scope of the Interpretation
• Requirements of FIN No. 48
• Implementing the Interpretation
• Disclosures