August 2007

Dear CCH Learning Center Subscriber,

Welcome to the August 2007 issue of Focus on Learning, the monthly newsletter for the CCH Learning Center that provides insights on how to use the Learning Center to your full advantage and updates on new courses and features available to you. In each issue we highlight a course (or series of courses) on a timely topic, and let you know about new courses released in the CCH Learning Center. We also inform you of new useful features, provide helpful tips on existing features, and help you use the CCH Learning Center to meet your professional development and CPE needs.

Visit CCH’s New Podcasting Center!
The CCH CPE Podcast Center gives you easy access to free Podcasts covering hot topics and recent developments in taxation. You can listen to the audio courses online, or download them to a portable devise. The course audio is free; you only pay if you wish to earn CPE Credit.

At the Podcasting Center you can get free access to any of CCH CPE podcast: 

• As streaming audio 

• Download the podcast to your PC

• Download the podcast to your MP3 player

Print components such as an outline of the course that provides a summary of each key point discussed, and the final exam for the course, are also available for free download. The outline contains charts, examples, and other valuable information related to the recorded discussion. Subscribers to CCH Tax Research Network will have the added capability of direct links within the Outline to the citations and course cases. 

To earn CPE Credit with a CCH Podcast, enroll into the related course and complete your CPE exam online for immediate results. There is a nominal fee to enroll into the course and complete the Final Quizzer for CPE Credit. As with other CCH CPE products, immediate 24/7 grading is available. You may use your existing Learning Center ID to enroll into a Podcasting course. 

New Learning Center Core Library Courses
CCH is committed to keeping you up-to-date and knowledgeable on the latest issues that impact your firm or corporation. Many new or revised courses covering a wide range of topics have been released to the CCH Learning Center Core Library over the past two months, including:

• Charitable Giving Tax Strategies (Third Edition) 

• Consolidated Returns: Determining Whether to File 

• FIN No. 46R -- Consolidation of Variable Interest Entities 

• FIN 48: Accounting for Uncertainty in Income Tax: an Interpretation of Statement No. 109 

• Itemized Deductions: What Is and Is Not Deductible 

• Primary Residence and Vacation Home as a Personal Tax Shelter 

• Recent Tax Developments (July-August 2007) 

• Revenue Recognition: General Principles (Third Edition) 

• SAS 109: Understanding the Entity and its Environment and Assessing the Risks of Material Misstatement 

New Courses — Specialty Libraries
In addition to the titles listed above, several new courses have been released exclusively to various CCH Specialty Libraries. These new Libraries cover a broad range of courses in specialized topics including accounting and audit, international taxation, sales and use taxation, state taxation, and wealth management. New courses released exclusively to these libraries include: 

• Accounting and Audit: Specialty Library 

  • FASB 157: Fair Value Measurements

  • FASB No. 158: Employers’ Accounting for Defined Benefit Pension 
    and Other Postretirement Plans

• Wealth Management: Specialty Library

  • Life Insurance: Recent Developments on Disclosure

Course Spotlight
FIN 48 dramatically changes how companies account for uncertain income tax positions. These new rules include a higher standard that tax benefits must meet before they can be recognized in a company’s financial statements. This course details the requirements of FIN No. 48 and provides several examples of its application.

FIN 48: Accounting for Uncertainty in Income Tax: an Interpretation of Statement No. 109:  In February 1992, the Financial Accounting Standards Board (FASB) issued FASB Statement No. 109, Accounting for Income Taxes. In addition, the FASB released an implementation guide, FASB Special Report, A Guide to Implementation of Statement 109 on Accounting for Income Taxes, and the Emerging Issues Task Force (EITF) has dealt with a number of Statement 109 implementation issues. As a result, in July 2006, the FASB issued FASB Interpretation (FIN) No. 48, Accounting for Uncertainty in Income Taxes: an Interpretation of Statement No. 109, to address financial statement recognition and measurement by an enterprise of a tax position taken or expected to be taken in a tax return. This course provides a thorough review of FIN 48. Topics covered include:

• Overview of FIN No. 48

• Background

• Scope of the Interpretation

• Requirements of FIN No. 48

• Implementing the Interpretation

• Disclosures

Upcoming Courses
We will release many new courses in the CCH Learning Center in the weeks and months ahead to give you even more choices and more value. Among the new and updated courses that are in development now, look for courses in the following areas soon:

• Accounting and auditing developments

• Audit risk assessment standards

• Business deductions

• Business entities

• Consolidated returns

• Estate and gift tax return preparation

• Investment strategies

• Recent tax developments

• Tax credits

Audio Seminars
CCH’s wide range of interesting, educational CPE options now includes audio seminars. Each audio seminar allows an unlimited number of users at your firm to get up-to-speed on a hot topic using nothing more than a telephone connection. Plus, participants can earn up to 3 CPE Credits. Learn about upcoming audio seminars here.

CCH’s audio seminars, presented by top experts, are designed to provide you with updated information on the hottest tax and accounting topics. Along with detailed handout materials, each site registering for an audio seminar receives topically-related bonus items such as books, journals, newsletters or self-study CPE courses. Check out the latest Audio Seminars schedule for details on upcoming seminars, including “Introduction to Cross-Border Mergers and Acquisitions” on September 6th.