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Announcement 2010-9: A New IRS Approach to Transparency for Uncertain Tax Positions

IRS Announcement 2010-9 advances uncertain tax position reporting requirements under standards broader than Financial Accounting Standards Board Interpretation No. 48 (FIN 48) parameters. Affected taxpayers are concerned that the Schedule required with annual return filings could create a roadmap for...

Announcement 2010-9: A New IRS Approach to Transparency for Uncertain Tax Positions

IRS Announcement 2010-9 advances uncertain tax position reporting requirements under standards broader than Financial Accounting Standards Board Interpretation No. 48 (FIN 48) parameters. Affected taxpayers are concerned that the Schedule required with annual return filings could create a roadmap for...

Lease Accounting Standard Changes to Impact Financial Reporting

By Barbara Apostolou, Nicholas Apostolou and Jack W. Dorminey - West Virginia University On August 17, 2010, the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) jointly released exposure drafts (ED) of proposed accounting standards that, as currently...

Lease Accounting Changes to Impact Financial Reporting

by Barbara Apostolou - Professor, University of West Virginia, Nicholas Apostolou - Visiting Professor, University of West Virginia, and Jack W. Dorminey - Assistant Professor, University of West Virginia On August 17, 2010, the Financial Accounting Standards Board (FASB) and the International Accounting...

Pension and Postretirement Benefit Accounting

Pension and postretirement benefits represent a significant cost to employers. The Financial Accounting Standards Board has specified that postretirement benefits are a form of deferred compensation. FASB concluded that the obligation to provide postretirement benefits is incurred as the employee renders...