The adoption of Financial Accounting Standards Board Interpretation No. 48 (FIN 48), Accounting for Uncertainty in Income Taxes, has required enormous effort on the part of enterprises and their tax departments over the past year and presented a variety of challenges, including:

• Securing additional resources, not only for initial adoption, but for future quarters and at year end
• Determining how much documentation is "enough"
• Understanding the distinctions and reconciling between the FIN 48 and Financial Accounting Standard 5 models
• Accounting for events that occur "subsequent" to the balance sheet date 
• Addressing all required disclosures

Download the report below to learn more about the challenges of FIN 48 and what enterprises have done to meet them.