November 2006

Dear CCH Learning Center Subscriber,

Welcome to the November 2006 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.

New Specialty Library coming soon!
CCH will soon add a new library to it growing line of Specialty Libraries. The CCH Learning Center Specialty Libraries are practice area focused and cover a broad range of levels in the key topics of accounting and auditing, sales and use taxation, state taxation, tax return preparation and wealth management. The CCH Specialty Library: U.S. International Taxation will be available soon. 

U.S. International Taxation Library – This new Library covers the basic concepts and issues surrounding U.S. taxation of international transactions, with an emphasis on essential areas that businesses and their financial advisors need to understand. These courses will provide the guidance you need to stay ahead of important international tax issues with timely coverage, current information and in-depth analysis. Included in each course are links to sources of additional information within CCH® Tax Research Network™, and practice aids to help you apply the knowledge you’ve gained with each course. Look for this new library in December.

New Tax Research Catalog
Subscribers to CCH’s Learning Center Core Library may have noticed a new catalog in their Library. The catalog was created to host all CCH courses covering how to conduct tax research in one area. Click here to find out more about this new catalog.

In 2006, CCH has released or revised five tax research courses with additional courses in development. Three of the current courses cover the steps involved in conducting tax research, researching the primary sources of federal tax law, and researching international tax law. Two courses provide training on how to use CCH Tax Research NetWork to effectively conduct tax research. The current courses can be found in the newly created Tax Research Catalog. Visit this new catalog for details on CCH’s tax research offerings. 

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. See the new or updated titles released to the Learning Center Core Library.

• 1041 Preparation and Planning 1: Tax Fundamentals for Trusts and Estate (2007 Edition)

• 1041 Preparation and Planning 2: Income and Deductions (2007 Edition)

• 1041 Preparation and Planning 3: Tax Computation and Completing the Return (2007 Edition)

• 1041 Preparation and Planning 4: Schedule K-1 (2007 Edition)

• 1041 Preparation and Planning 5: Special Situations (2007 Edition)

• 1065 Preparation and Planning 1: Tax Fundamentals (2007 Edition)

• 1065 Preparation and Planning 2: Income and Deductions (2007 Edition)

• 1065 Preparation and Planning 3: Schedules and Completing the Return (2007 Edition)

• 1065 Preparation and Planning 4: Special Situations and Planning (2007 Edition)

• 1120S Preparation and Planning 1: Tax Fundamentals (2007 Edition)

• 1120S Preparation and Planning 2: Business Income, Deductions and Tax Payments (2007 Edition)

• 1120S Preparation and Planning 3: Schedule K (2007 Edition)

• 1120S Preparation and Planning 4: Other Schedules and Tax Planning (2007 Edition)

• Auditing Issues: The Risk Assessment Standards

• Boomer Planning

• Independence Rules that Affect Compilation and Review Engagements

• Partnerships, LLCs and S Corporations: Tax Developments in 2006

• Peer Review and the AICPA Peer Review Program Standards

• Recent Tax Developments (September-October 2006)

• Tax Research: Primary Sources of Federal Tax Law - Judicial Interpretations

• Tax Research: Researching International Tax Law

Specialty Library - Accounting and Audit Courses
In addition to the accounting and auditing titles listed above, several new courses have been released exclusively to CCH’s Accounting and Audit Specialty Library. This new Library covers a broad range of topics; including fraud, recently issued standards and specialized areas such as governmental auditing and not-for-profit organization audits. The CCH Specialty Library Accounting and Audit serves as a valuable research tool and helps practitioners meet their A&A CPE requirements. New courses released exclusively to this library include:

• FASB No. 151: Inventory Costs

• FASB No. 153: Exchange of Nonmonetary Assets

Course Spotlight
Partnership, LLCs and S Corporations: Tax Developments in 2006. One of the goals of the Learning Center is to provide you with courses that cover the latest and most relevant tax and accounting developments in a timely manner. Partnership, LLCs and S Corporations: Tax Developments in 2006 does just that by reviewing tax changes that have impacted partnerships, limited liability companies, and S corporations.  Get the details on this course. 

Partnership, LLCs and S Corporations: Tax Developments in 2006 covers legislative, judicial and administrative changes that impact pass-through entities and the 2006 tax returns for them. The well-organized course is concise and easy-to-follow. Examples and study question are used to reinforce the information. Several sample client letters that can be edited to suit your needs are provided, allowing you to easily forward relevant information to your pass-through entity clients. Topics covered in the course include:

• The interest rate applied to an S corporation's overpayment

• Discharge of indebtedness income

• Using shareholder loans and guarantees to increase shareholder basis

• S corporation liability for employment taxes

• Built-in gains tax

• Domestic production activities deduction

• Health insurance deductions of S corporation shareholders

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. Learn more about the new CCH Learning Center courses in development.

Among the new and updated courses that are in development now, look for courses in the following areas soon:

• AMT

• Derivatives and hedge accounting

• Domestic production activities deduction

• HSAs

• Income tax preparation

• IRS Enforcement programs

• LIFO

• Like-kind exchanges

• Multistate tax issues

• Nonqualified deferred compensation

• Recent tax developments

• Section 179

Audio Seminars
CCH’s wide range of interesting, educational CPE options now includes audio seminars. Each audio conference 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 2 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 Seminar schedule for details on upcoming seminars, including “Navigating Form 1041” on Dec. 1 and “1040 Update” on Dec. 5.