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Uncertain tax positions: The basics
- 0:48 - Recognition. Before getting into the broader accounting model, we discuss the definition of a tax position and when it is recognized in the financial statements.
- 6:08 - Measurement. How should the entity measure the tax benefit of a position? We explain.
- 10:01 - Changes in recognition/measurement. Next, we help listeners understand when a company would reassess its uncertain tax positions. Then also cover the documentation.
- 16:34 - Subsequent events. Here we discuss how to handle developments that occur after the balance sheet date but before the issuance of the financial statements.
- 18:21 - Impact of new tax regulations. The accounting for changes in tax regulations is different from how new FASB standards are adopted. We close by discussing how developments in tax regulations can impact uncertain tax positions.
About our guests
PwC. All rights reserved. PwC refers to the US member firm or one of its subsidiaries or affiliates, and may sometimes refer to the PwC network. Each member firm is a separate legal entity. Please see www.pwc.com/structure for further details. This content is for general information purposes only, and should not be used as a substitute for consultation with professional advisors.