Financial Reporting


FASB approved proposed FASB Staff Position no. FIN 48-2, Effective Date of FASB Interpretation No. 48 for Certain Nonpublic Enterprises , which defers the effective date of FIN 48 for qualified entities to the annual financial statements for fiscal years beginning after Dec. 15, 2007, unless they have issued a full set of annual financial statements incorporating the recognition, measurement and disclosure requirements of FIN 48, Accounting for Uncertainty in Income Taxes . Nonpublic consolidated entities of public enterprises that apply GAAP are ineligible for the deferral. The FSP is available at www.fasb.org/pdf/fsp_fin48-2.pdf .

SPONSORED REPORT

Revenue recognition: A complex effort

Implementing the new standard requires careful judgment. Learn how to make significant accounting judgments and document them and collaborate with peers for consistent application.

VIDEO

How to Excel pivot a general ledger

The general ledger is a vast historical data archive of your company's financial activities, including revenue, expenses, adjustments, and account balances. J. Carlton Collins, CPA, shows how to prepare data for, and mine data with, PivotTables.

QUIZ

News quiz: Taking an economic snapshot and looking to the future

Recent news included IRS actions that affect individuals and partnerships and a possibly influential move by a Big Four accounting firm.Take this short quiz to see how much you know about the news.