FIN 48 FOR PRIVATE COMPANIES:

Implementing the Reporting Requirements
for Non-Public Entities

Learn About the Complex and Unique FIN 48 Issues for Private Companies

FIN 48 applies to all entities that prepare GAAP financial statements — initially to public companies and, now, effective for calendar-year 2009 and later financial statements, private companies also need to comply with the onerous FIN 48 reporting requirements. Public company experience has shown that FIN 48 implementation can be a difficult process. With private companies, there are many unique characteristics brought to the table that present a range of challenges to those who are responsible for FIN 48 compliance. FIN 48 applies in some situations to, and may often indirectly apply in other situations to, pass-through entities as well as to non-profit organizations that may incur income taxes. Because CPA firms for privately held financial statement issuers often prepare and are the primary adviser on the entity’s tax returns, independence impairment may also present significant problems.

Learn about these issues, concerns and best practices for implementing FIN 48 reporting with private companies. Presented by highly regarded practitioner and speaker, Kip Dellinger, CPA, this helpful session will offer you a practical review of FIN 48 issues and developments and the unique considerations for privately held businesses. Dellinger will discuss issues during initial implementation and for ongoing compliance, including FIN 48 reporting for private companies with few or no internal tax staff, non-existent or minimal internal tax controls, no past company tax audit history to benchmark tax positions against, and managing situations involving business owners who have taken very aggressive tax positions.

Professionals in public practice and in industry will benefit from this insightful and needed seminar. The presentation time will include opportunities for you to ask questions directly to Mr. Dellinger.

Program Topics

Among the areas that Kip Dellinger will address are:

• Disclosures required by private companies
• Identifying material uncertain tax positions
• Categorizing, prioritizing, documenting and substantiating tax positions in relation to the more-likely-than-not (MLTN) standard
• Measuring positions that fall short of the MLTN standard
• Pass-through entity issues
• Special considerations / thorny areas -- e.g., interest expense, foreign related parties and transactions, stock or asset acquisitions, NOLs, personal expenses of owners that are paid by the company, etc.
• Positions relying on valuation
• Monitoring changes in tax law and understanding and reporting their impact on tax positions
• Communicating tax exposures to company executives and privilege issues

Learning Objectives

• Obtain a practical awareness of key FIN 48 implementation issues and challenges for private companies
• Understand the approaches for identifying uncertain tax positions, recognizing and measuring those positions for private companies
• Discuss best practices for handling particularly thorny areas of FIN 48 adoption by private companies

SPECIAL BONUS — each registered site will also get a free copy of CCH’s Top Accounting Issues for 2009

Register today for this insightful program on Thursday, July 30 at 1 PM Eastern, Noon Central; 11 AM Mountain; 10 AM Pacific. 

About the Speaker:

How the Audio Seminar Works

CCH’s live audio seminars require nothing more than a telephone connection. For the single per-site fee, you can have an unlimited number of listeners at your site participate, get up to speed and in-the-know on important topics, and get special bonus publications included with the seminar. Handout materials are provided in PDF format that you can download and copy for all those who will participate in the seminar at your location.

Practice Development Tip! Invite colleagues, business referral sources, clients and prospects to your office to listen in and participate on this seminar with you. They’ll appreciate your invitation to hear directly about this important topic.

Visit CCHGroup.com/AudioSeminars for more audio seminar topics, dates and times!

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Special Bonus

Firms registering for this audio seminar will receive as a bonus the following publication:

• a free copy of CCH's Top Accounting Issues for 2009

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If you are unable to attend this upcoming event and would like to order a recording—or if you would like to order recordings of past CCH Audio Seminars, please visit the CCH Audio Seminar Archive Library today.

Pricing:

Our Guarantee

If for any reason you are not completely satisfied with this program, we will provide a full refund - no questions asked!

Register Today for Only $249 Per Site and Have an Unlimited Number of Users Participate! Register Online Using a Credit Card Phone: call Customer Service at 1.800.775.7654. Please have your credit card information ready. Can't Attend?  Order an Audio Recording

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