PCFRC Wants to Hear Your Views on FASB FIN 48: Survey

The Private Company Financial Reporting Committee (PCFRC) was formed by FASB and the AICPA to provide recommendations on accounting standards for privately-held enterprises to the FASB.  The FASB recently voted to defer the effective date of FASB Interpretation No. 48, Accounting for Uncertainty in Income Taxes (FIN 48) for nonpublic entities to periods beginning after December 15, 2007.  The PCFRC is conducting a survey of private company financial statement users, preparers, and CPA practitioners to determine their needs related to the accounting topics contained in FIN 48.  The survey is also being conducted to better reveal the costs and benefits of complying with the requirements of FIN 48.  Remember that FIN 48 also applies to pass-through entities, such as S-corporations, partnerships, and LLCs.

This survey will be used to help the PCFRC develop any further recommendations to the FASB about FIN 48. The PCFRC would like to better understand your members views on this issue with this 10 minute survey.  All responses are requested by January 31. The following are the links to the survey:

If you are primarily a user of private company financial statements, please take the survey at http://vovici.com/wsb.dll/s/4e5ag2fdca

If you are primarily a preparer of private company financial statements, or are primarily a CPA practitioner, please take the survey at http://vovici.com/wsb.dll/s/4e5ag2fd0e

On behalf of the PCFRC, thank you very much for your cooperation and input.