And the Impact Is ... First-Quarter Results from Adopting Fin 48
Posted: 27 Jul 2007
The authors explain that the July 2006 issuance of FIN 48, Accounting for Uncertainty in Income Taxes, dramatically changed the measurement, documentation, and disclosure requirements most companies must follow regarding individually identified income tax exposures. This report examines the disclosures provided on adoption of FIN 48 by calendar year-end Fortune 200 companies in their March 31, 2007, Forms 10-Q. In addition to finding improved consistency of disclosure across firms, the authors find that the adoption of FIN 48 resulted in substantial changes in the measurement of unrecognized tax benefits for many firms.
Suggested Citation: Suggested Citation
Nichols, Nancy B. and Briggs, John W. and Baril, Charles Purdom, And the Impact Is ... First-Quarter Results from Adopting Fin 48. Tax Notes, Vol. 116, No. 5, July 30, 2007, Available at SSRN: https://ssrn.com/abstract=1003325
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