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

CPEOs provide peace of mind around payroll services

The creation of these new IRS-certified service providers for small businesses clarifies some issues around traditional professional employer organizations.

QUIZ

Pronoun practice to help polish your prose

Using pronouns correctly in writing and speech can help you make a good impression. Try our 10-question quiz.