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The Financial Accounting Standards Board (FASB), has granted a deferral to nonpublic and pass-through entities to implement FASB's Interpretation (FIN) No. 48, Accounting for Uncertainty in Income Taxes. Unlike public companies, which have had to apply the rule for reporting periods that began after December 15, 2006, private firms will have to comply for periods that begin after December 15, 2007.

Stambaugh Ness Shareholder and CFO Tom Moul, CPA,  is prepared to present a FIN 48 presentation for bankers, insurance and boding agents, and other financial statement users who can assist their clients with understanding the requirements. A business consulting podcast explaining this deferral is also available on the Stambaugh Ness website.  

An AccountingWEB article* details the rationale for the decision.

If you would like to schedule a presentation or have questions about this topic, you may contact Tom or Shareholder Jolleen Biesecker, CPA, MSTax at 717-637-7131 or 888-220-6033. You may also use the email option below.

*Source:  Accounting & Compliance Alert on Checkpoint

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