Capstone Assignment Fiscale Economie: Tax Accounting
An increasingly important topic in the tax practice is tax accounting (or accounting for income taxes). Based on an increased focus on tax risk management, the reporting of uncertain tax positions has undergone significant developments recently. The most prominent example of this is the implementation of FIN 48 (FASB Interpretation No. 48 – Accounting for Uncertainty in Income Taxes) in the United States. In contrast, International Financial Reporting Standards currently do not have a separate rule concerning uncertain tax positions. However, in 2009 the IASB did release an Exposure Draft concerning possible amendments to IAS 12 regarding the reporting of uncertain tax positions.
Assignment: Provide an overview of the accounting for uncertain tax positions under current IFRS, the changes proposed in the 2009 Exposure Draft, and US GAAP; including similarities and differences. Based on the relevant literature, argue to what extent the IASB should follow US GAAP reporting for uncertain tax positions, or develop its own standards.

[The following references should only act as a starting point:]
- FASB Interpretation No. 48. Accounting for Uncertainty in Income Taxes. An interpretation of FASB Statement No. 109. http://www.fasb.org/cs/BlobServer?blobcol=urldata&blobtable=MungoBlobs&blobkey=id&blobwhere=1175820931560&blobheader=application%2Fpdf
- International Accounting Standard 12: Income Taxes. Http://www.iasplus.com/standard/ias12.htm
- Kloosterhof, S., D. van Zoelen (2009). Accounting for Uncertain Income Tax Positions. European Taxation, August/September 2009, pp. 415-421
- Revsine, Collins, Johnson and Mittelstaedt (2009). Financial reporting and analysis, 4th edition, McGraw-Hill Irwin: chapter 13.