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Accounting Rule #48
As a result of accounting rule FIN 48, companies are required to disclose the amounts they have to put into tax reserves along with any other potentially challengeable amounts related to past tax benefits. Companies must list these amounts as “unrecognizable tax benefits” on their 10-Q reports filed with the Security and Exchange Commission. Where once companies were required to reveal much less information about transactions that could face risk of an audit, this rule forces companies to more accurately reveal how they set aside such reserves. Visit our interactive Days Receivable Outstanding DSO Calculation.
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