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FASB: NO Delay For FIN 48; Considers Defining 'Ultimate Settlement'

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FASB Votes To Not Delay FIN 48;  Considers Defining 'Ultimate Settlement'

FEI Summary

January 17, 2007

 

At its board meeting today, FASB board members voted unanimously 7-0 to not  delay the effective date of FIN 48, Accounting for Uncertainty in Income Taxes. Additionally, the board voted that the staff could proceed to draft potential implementation guidance on one issue: the definition of 'ultimate settlement," for the board to consider at a future board meeting.

 

Additional details are available in this FEI Summary.

 

Prepared Jan. 17, 2007 by Christine DiFabio, Director, Technical Activities, Financial Executives International (FEI). This summary does not represent FEI opinion unless specifically stated above.

 

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