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New CCH Accounting Research Manager White Paper Examines Revised FASB Proposal on Revenue Recognition

(RIVERWOODS, ILL., January 27, 2012) – With updated guidance from the Financial Accounting Standards Board (FASB), it’s imperative for professionals to stay on top of potential accounting and financial reporting changes stemming from the FASB’s revised proposed Accounting Standards Update (ASU) titled, Revenue Recognition (Topic 605): Revenue from Contracts with Customers. In a new CCH white paper, A Closer Look, The FASB’s Revised Proposal on Revenue Recognition. CCH clearly and easily explains the depth and breadth of the proposed changes. CCH, a Wolters Kluwer business is a leading global provider of tax, accounting and audit information, software and services (CCHGroup.com).

The white paper was authored by the CCH Accounting Research Manager® (ARM) editorial team in collaboration with Scott Taub, a former Deputy Chief Accountant at the Securities and Exchange Commission (SEC). During his tenure at the SEC, Taub periodically served as Acting Chief Accountant and is currently the author of the renowned CCH publication, Revenue Recognition Guide. ARM helps professionals understand and comply with rapidly changing accounting, auditing, governmental, SEC and internal controls standards, including fair value measurements, the FASB Codification, uncertain tax positions, Sarbanes-Oxley and other pertinent topics.

“Because the revised revenue proposal would basically replace virtually all the standard guidance on revenue recognition with a single model applying to all contracts with customers, it’s critical that professionals have a clear, concise source that carefully explains the proposed changes,” said Mark Friedlich, CCH Director of Publishing, Accounting and Audit. “This new white paper presents in-depth details of the revised FASB proposal in an easy-to-follow format with summary tables and timelines for quick understanding of how businesses of all sizes may be impacted.”

To access the new CCH white paper, click here or visit: CCHGroup.com/ACloserLook-FASB.

Accounting Changes in an Instant

Although a significant development, this latest FASB proposal represents only a small segment of the constantly changing accounting rules and regulations that professionals must stay on top of throughout the year. CCH’s Accounting Research Manager helps users quickly understand and comply with rapidly changing accounting, auditing, governmental, SEC and internal controls standards. The ARM database includes numerous interpretations to reduce the complexity when reviewing the FASB Codification, SEC rules and regulations, PCAOB standards and other pertinent pronouncements.

ARM translates complex information into easy-to-understand language with interpretations that clearly define the rules from the user’s perspective.

Specific features valuable to small and large businesses include:

  • A comprehensive online financial reporting database, including all source content and industry leading interpretations;
  • Interpretive guidance that allows professionals to navigate directly from within a document or from within the tips view in a task pane to resources on ARM;
  • Unique FASB functionality that saves valuable time through "combine an entire topic" and summaries of new releases; and
  • Exclusive up-to-date coverage of current developments such as the AICPA Clarity Project.

For More Information

For a free copy of the entire CCH white paper, A Closer Look, The FASB’s Revised Proposal on Revenue Recognition, please visit: CCHGroup.com/ACloserLook-FASB.

To learn more about CCH Accounting Research Manager®, please contact a CCH representative at 1-888-CCH-REPS (1-888-224-7377) or visit (CCHGroup.com).

About CCH, a Wolters Kluwer business

CCH, a Wolters Kluwer business (CCHGroup.com) is the leading global provider of tax, accounting and audit information, software and services. It has served tax, accounting and business professionals since 1913. Among its market-leading solutions are The ProSystem fx® Suite, CorpSystem®, CCH® IntelliConnect®, Accounting Research Manager® and the U.S. Master Tax Guide®. CCH is based in Riverwoods, Ill. Follow us now on Twitter @CCHMediaHelp. Wolters Kluwer (www.wolterskluwer.com) is a market-leading global information services company. Wolters Kluwer is headquartered in Alphen aan den Rijn, the Netherlands. Its shares are quoted on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices.

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