Could you please give me the equivalent of FIN 48 tax reserves in USA in the UK context
Thank you in advance
There is not a fully comparable equivalent for firms reporting under IFRS. Uncertain tax positions are accounted for under both standards, but the rules differ. Part of the (potential) benefits are recorded as a liability under both standards if these are uncertain. However, FIN 48 requires a two-step approach of recognition and measurement. The recognition of 'more likely than not to be sustained' is absent under IFRS. Also, measurement under FIN 48 reflects the median while under IFRS the probability weighted mean is more in line with the principle. The additional reconciliation disclosures may be larger under US GAAP.
Dear professor Jacco,
Thank you very much for this interpretation
If I want to study the UK context , according to you , Which stock exchange I chose ?
That depends on the objective of your study. Dependent on what you want to do, whether you need to gather data manually (so that you may need to restrict the number of firms) or whether you want to focus on specific industries, specific indices may be suitable. There are indices for specific industries; the more general indices are the FTSE 100 (largest firms), or FTSE 250 for mid-capitalized firms. Alternatively, the FTSE-all-share covers all firms from FTSE 100, FTSE 250 and small caps...
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