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FASB Interpretation: "Accounting for Uncertain Tax Positions"

Thursday, September 8, 2005

The Financial Reporting Committee (FRC) of the Institute of Management Accountants is writing to provide its views on the proposed Interpretation, Accounting for Uncertain Tax Positions (the FIN or ED or proposed Interpretation). Given the diversity in practice that exists in this area, the FRC agrees with the need to provide additional guidance. However, our views on the proposal are more closely aligned with the alternative view expressed by the dissenting members of the Board. That is, we believe that the guidance proposed in the FIN, while reducing diversity in the application of FAS 109, Accounting for Income Taxes, will not achieve a significant improvement in financial reporting.


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