Symantec 2007 Annual Report Download - page 88

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necessary for an end-customer to receive service from us, including the amounts recognized in the Consolidated
Statements of Income. EITF 06-1 is effective for fiscal years beginning after June 15, 2007. We do not expect the
adoption of EITF No. 06-1 to have a material impact on our consolidated financial statements.
In June 2006, the FASB issued FIN 48, Accounting for Uncertainty in Income Taxes — an interpretation of
FASB Statement No. 109. The interpretation contains a two-step approach to recognizing and measuring uncertain
tax positions accounted for in accordance with SFAS No. 109. The first step is to evaluate the tax position for
recognition by determining if the weight of available evidence indicates that it is more likely than not that the
position will be sustained on audit, including resolution of related appeals or litigation processes, if any. The second
step is to measure the tax benefit as the largest amount which is more than 50% likely of being realized upon
ultimate settlement. FIN 48 is effective for fiscal years beginning after December 15, 2006. We are currently in the
process of evaluating the impact of FIN 48 on our consolidated financial statements.
In February 2006, the FASB issued SFAS No. 155, Accounting for Certain Hybrid Financial Instruments,
which amends SFAS No. 133, Accounting for Derivative Instruments and Hedging Activities, and SFAS No. 140,
Accounting for Transfers and Servicing of Financial Assets and Extinguishments of Liabilities. SFAS No. 155
simplifies the accounting for certain derivatives embedded in other financial instruments by allowing them to be
accounted for as a whole if the holder elects to account for the entire instrument on a fair value basis. SFAS No. 155
also clarifies and amends certain other provisions of SFAS No. 133 and SFAS No. 140. SFAS No. 155 is effective for
all financial instruments acquired, issued, or subject to a re-measurement event occurring in fiscal years beginning
after September 15, 2006. Earlier adoption is permitted, provided the company has not yet issued financial
statements, including for interim periods, for that fiscal year. We do not expect the adoption of SFAS No. 155 to
have a material impact on our consolidated financial statements.
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