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    The Should Opinion in Implementing FIN 48

    Report One of the frequently-asked questions related to implementing this literature relates to the continue usefulness of recently-popular “should” level opinions on the likelihood of tax outcomes.
    Published on August 09, 2006

    Not For Profit Entities Recent Peer Review Findings

    Report The AICPA Peer Review team recently released examples of matters identified in peer reviews related to not-for-profit entities. This report covers some of the more commonly identified issues, including tax disclosures, net assets classification and disclosure, donated goods and services, and the statement of functional expenses.
    Published on September 17, 2014

    Special Issues Related to the Statement of Cash Flows

    Report According to SFAS No. 95, Statement of Cash Flows, the primary objective of a statement of cash flows is to provide relevant information about the cash receipts and cash payments of an entity during a period.
    Published on May 13, 2009

    Controversy Over the Applicability of the Disclosure Requirement of Open Tax Years Unintended Consequences and Lessons f...

    Report This report covers the applicability of a seemingly benign, but ambiguous, disclosure requirement of FIN 48 to provide a description of tax years open to examination.
    Published on March 18, 2015

    Auditing Construction Contracts

    Report One of the more challenging audits is that of construction companies and other companies using the percentage-of-completion method of accounting for long-term contracts. The focus of this report will be on some common audit issues and best practices for auditors engaged to audit construction entities.
    Published on May 21, 2014

    Not-For-Profit Entities Exchange Transactions vs. Contributions

    Report Often, not-for-profit [NFP] entities generate revenue from exchange transactions and from contributions and, at times, it appears that the line is blurred related to the appropriate accounting for the revenue stream.
    Published on July 03, 2013

    FASB ASC 740 Disclosure Illustrations - Uncertain Tax Positions

    Report Now that reporting entities that are private companies need to implement the full provisions of FASB ASC 740, questions have been raised as to how the guidance appropriately should be implemented in financial statements.  In particular questions have arisen as to how the guidance needs to be reflected in financial
    Published on February 17, 2010

    FASB ASC 470 Debt Modifications Extinguishments and Compliance

    Report Due to the current economic environment and interest rates remaining near all-time lows, over the past few years, many reporting entities have and currently are in the process of renegotiating long term debt arrangements.
    Published on December 18, 2013

    Implementing FIN 48 Accounting for Uncertainty in Income Taxes

    Report On July 13, 2006, the FASB issued FIN 48 [with a June 2006 date on the document], entitled Accounting for Uncertainty in Income Taxes.  FIN 48 interprets the guidance in SFAS No. 109, entitled Accounting for Income Taxes.
    Published on July 26, 2006

    NFP Entities Addressing Some Presentation & Disclosure Issues

    Report Since many not-for-profit [NFP] entities have September 30 fiscal year-ends, in preparing current year financial statements, it might be helpful to focus on some recent presentation and disclosure deficiencies that have been noted in financial statements of NFP entities.
    Published on August 28, 2013

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