FIN 48 "Accounting for Uncertainty in Income Taxes--an Interpretation of FASB
In developing high-quality accounting standards, standard setters may opt for either FASB
or IASB guidance.
As to whether the deduction should be accounted for as a special deduction or tax rate reduction, the paper concludes that the former treatment is more appropriate, "because the domestic manufacturing deduction is based on the future performance of specific activities" and, thus, is similar to the special deductions illustrated in FASB
Copies of Statement 123(R) are available by calling the FASB
Order Department at 800/748-0659 or by placing an order online.
also is working with the EITF, AICPA and SEC to more clearly define their roles in selling accounting standards, including streamlining certain activities and modernizing financial reporting and disclosure.
has undertaken major initiatives to integrate and codify the massive volume of all current non-governmental accounting pronouncements into a single source, stem the proliferation of accounting pronouncements emanating from multiple sources, and develop standards in a more principles-based manner.
and IASB plod down their pensive path, the U.
The Financial Accounting Standards Board has issued FASB
During recent meetings, the FASB
determined that options on parent-company stock awarded to employees of a subsidiary would be treated as employer options subject to APB 25 on the consolidated financial statements, but as nonemployer options on the separate financial statements of the subsidiary.
Through this ITC, the Board wants to ascertain whether and how valuation guidance can be improved to enhance the quality of financial information presented to investors and other users of financial statements," said Paul Beswick, FASB
To what extent does changing the way FASB
mandates how to measure postretirement plan economics affect the economics itself?
The IASB and FASB
also published EDs proposing that noncontrolling interests be classified as equity within the consolidated financial statements and that acquisitions of noncontrolling interests be accounted for as equity transactions (www.