RSM Resources

2007-11-03
Online
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Asyou may know, the Financial Standards Accounting Board’s newInterpretation No. 48, Accounting for Uncertainty in Income Taxes, willgo into effect for companies with fiscal years beginning after December15, 2006, or January 1, 2007 for calendar year companies. This requiresall U.S.companies, public and private, to apply a new methodology forevaluating the expected tax benefits from uncertain tax positions.

FIN48 requires a more rigorous and methodical assessment of financialstatement reporting of tax decisions made by your company and itapplies to all tax positions accounted for under FASB Statement 109,Accounting for Income Taxes.” Companies will need to:

• document income tax positions,
• determine which tax positions may be recognized, and
• measure uncertain tax position benefits.

Topics Include:

Now is the timeto learn how FIN 48 will impact your company’s financial statements,your internal tax resources and how you will need to implement FIN 48’snew requirements.

TomWindram and Christopher Arndt of RSM McGladrey’s National Tax Officeand Tim Farley of RSM McGladrey’s SALT practice will cover key FIN 48concepts, recognition and measurement of tax positions, state and localtax issues and related special rules. They’ll provide some examples tohelp illustrate the mechanics of recording uncertain tax positions andfinancial statement disclosures. And they’ll explain a four phaseapproach to implementing FIN 48.

RSMMcGladrey Inc. is registered with the National Association of StateBoards of Accountancy (NASBA) as a sponsor of continuing professionaleducation on the National Registry of CPE Sponsors. State boards ofaccountancy have final authority on the acceptance of individualcourses for CPE credit. Complaints regarding registered sponsors may beaddressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN 37219-2417. Website: www.nasba.org.