FIN 48

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Events

  • Webcasts
    • 11/24/2009
    • During this webcast, we will discuss walk you through how ONESOURCE TaxStream Provision can automate, configure and tie out the reports needed for your 10K footnote. Learn more about the components and configurability of the Effective Rate Reconciliation, Deferred Balance Roll-forward, Foreign Domestic Summary and Payable Roll-Forward.
    • Generating and Tying Out ONESOURCE TaxStream Provision Footnote Reports
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    Training
    • 11/23/2009
    • This class is focused on the state function ranging from data input to migrating from a blended state to a more detailed state by state output. Included is a review of the state reports as well as discussion on state specific issues and adjustments.
    • States Overview
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With the FASB's release of FIN48, the guidance surrounding uncertain tax positions has changed dramatically. New rules determine the recognition and release of tax reserves, bringing higher levels of transparency and standardization to this area. As a result, corporate tax departments are finding a need for more sophisticated ways to track, manage, and document their FIN48 items.

ONESOURCE TaxStream Provision provides a comprehensive tool to help manage risk, save time, and satisfy financial reporting and audit requirements. ONESOURCE TaxStream Provision generates all five required FIN 48 disclosures as well as the FIN48 impact on your SEC footnote, and allows you to track your FIN48 effect back to an in depth analysis of each individual uncertain position

With the FIN 48 solution from ONESOURCE TaxStream Provision, you will:

  • Manage Risk - Track and manage your FIN48 process and attach multiple levels of documentation to satisfy the requirements of your auditors and governmental agencies.
  • Save Time - Our seamlessly integrated FAS109 and FIN48 modules with automatically generated FIN 48 disclosures allow for time savings of up to 50%.
  • Automate - Close the tax cycle with journal entries generated for each uncertain position. Generate the impact on FAS 109 calculations without double counting.
  • Manage Uncertainty - Identify uncertain positions by type of issue, jurisdiction, expected date of resolution and statute of limitations. Manage and track changes in positions due to expiry of statues, settlements, or changes in judgment.
  • Maintain Control - The ONESOURCE TaxStream Provision FIN 48 Solution provides one place to identify and track all uncertain positions and FIN 48 disclosures in one central location with a built in documentation database.
  • Track - Sort your FIN48 uncertain tax positions by issue type, entity, jurisdiction, or period. Roll your positions forward from period to period.
  • Integrate - Provide tax accounting support and generate reports analyzing the FIN48 effect on FAS109. Seamlessly integrate with your FAS109 process. Save time with built in Time Value integration, for out of the box best-in-class interest and penalties reporting.
  • Document - Attach supporting documentation in any format (.doc, .pdf, .xls, etc.) as well as preparer-reviewer correspondences directly to uncertain positions. Easily drill down into the underlying calculations, probability matrix, interest, and penalties surrounding the uncertain position.