FIN 48 Implementation & Updating

Neikirk Mahoney & Co. can assist in your FASB Interpretation No. 48 (FIN 48) implementation and annual and/or quarterly updates. FIN 48 provides detailed requirements and disclosures necessary for Companies to account for their uncertainties in income taxes. FIN 48 was issued to eliminate diversity in practice in accounting for such uncertainties and are likely effective or will be effective for your Companies' financial statements issued in accordance with Generally Accepted Accounting Principles.

We can streamline the process for an implementation and annual calculation performed by our firm, or can provide training and oversight so that your Company can perform the calculations necessary on a yearly or quarterly basis.

FIN 48 implementation and updating includes:

• Inventorying uncertain tax positions.
• Weighing the technical merits of such tax positions.
• Determining whether or not such positions meet the criterion established in FIN 48 and measuring such position accordingly.
• Preparing a rollforward of such positions from year to year or quarter to quarter.
• Providing the footnote disclosure support necessary for fair financial statement presentation.