Accounting board delays rule for private companies

10/20/2008 |

The Financial Accounting Standards Board has voted to delay, for the second year running, implementation of a private-company compliance requirement, known as FIN 48. FIN 48 went into effect for public companies at the end of 2006, but the FASB has been debating ever since how to roll it out to everybody else. The rule attempts to dictate how companies should account for uncertain tax positions.

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