FASB delays FIN 48 effective date for private companies.

• Position: FASB News

FASB has voted to defer the effective date of FIN 48 for all non-public entities to periods beginning after Dec. 15, 2007, and instructed staff to develop an FASB Staff Position, which will have a 30-day comment period once it is released.

The decision comes on the heels of a letter issued by the Private Company Financial Reporting Committee that recommended FASB delay the effective date of FIN 48, Accounting for Uncertainty in Income...