Accounting for uncertainty in income taxes

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Reference no: EM131205906

Based upon your review of FASB Interpretation No. 48, "Accounting for Uncertainty in Income Taxes" or other similar government web sites that explain FIN 48 as used by Weis Markets Inc., discuss the following:

Do you think Weis Markets Inc. is trying to delay taxes or merely eager to follow GAAP rules to complete the required financial statements? Would Weis Marketing arrive at the same retained earnings balance of the equity section on their balance sheet in 5 years, if they ignored the FIN 48 allowed by FASB?

Reference no: EM131205906

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