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Once Determined, an Unrecognized Tax Benefit Under ASC 740 Is

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Once determined, an unrecognized tax benefit under ASC 740 is not readjusted for subsequent events.


Definitions:

Statistical Probability

The quantification of the likelihood of an event occurring based on a ratio of favorable outcomes to the total number of possible outcomes.

Statistical Precision

How similar the results are when measurements are taken repeatedly in unaltered circumstances.

T-statistic

A value derived from a T-test that measures the size of the difference relative to the variation in the sample data.

Statistical Probability

A measure of how likely an event is to occur based on available data or statistical analysis.

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