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CCH Accounting for Income Taxes (2012)

CCH Accounting for Income Taxes (2012)

Author: Richard Petersen
Publisher: CCH U.S.
ISBN: 9780808026631
Published In: June 2011
Format: Paperback , 432 pages
Jurisdiction: U.S. ? Disclaimer:
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CCH Accounting for Income Taxes provides guidance on the application of Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 740, Income Taxes.

It also addresses income tax-related paragraphs in certain other Codification topics, including Topic 805, Business Combinations, and Topic 980, Regulated Operations.

This publication presents the authors’ interpretation on areas that have not been specifically addressed by the Codification or that require further explanation.

The analysis in this publication is based on discussions with the staffs of the FASB and the Securities and Exchange Commission (SEC), combined with lessons learned from leading accounting practitioners.

Appendix I includes a series of interpretations of income tax-related paragraphs that are located in other topics in the Codification.

Appendix II, "Index of Accounting Literature Cited," includes cross-references to the interpretations that either refer to or incorporate the pre-Codification authoritative pronouncement or interpretive literature, in whole or in part, that was not codified by the FASB into its Codification. The FASB decided to exclude “nonessential material,such as redundant summaries of existing standards, historical content, discussions of previous practice, summaries of constituent feedback, and similar content; however, we believe such information may be useful to readers of this publication.

Appendix III contains recent examples reflecting how various U.S. public entities have disclosed the information required by Topic 740.

Richard R. Petersen is a co-founder and Managing Director of Financial Reporting Advisors LLC (FRA). Based in Chicago, Illinois, FRA provides consulting services related to accounting and SEC reporting, and litigation support services.

Previously, Richard was a partner with Arthur Andersen LLP in its Professional Standards Group (PSG). In this role, he consulted with clients and engagement teams on complex financial reporting matters and authored interpretive guidance on topics, such as consolidations, income taxes, leases, and revenue recognition, for Andersen's worldwide practice. He also represented the firm before various standards setters, including the FASB, the SEC, and the AICPA.

Richard has served as the chair or member of various Emerging Issues Task Force working groups on a wide array of topics, such as consolidation, leases, income taxes, and revenue recognition. He also was a member of the AICPA Taskforce on Reorganization that developed AICPA Practice Bulletin No. 11, Accounting for Preconfirmation Contingencies in Fresh-Start Reporting. Richard is currently a member of the AICPAâ€™s Accounting Standards Executive Committee (AcSEC).

From 1988 to 1990, Richard was a Practice Fellow at the FASB. He was the project manager for the reconsideration of FASB Statement No. 96, Accounting for Income Taxes, and FASB Statement No. 101, Regulated Enterprisesâ€”Accounting for the Discontinuation of Application of FASB Statement No. 71. He also worked on issues related to business combinations and leveraged buyouts.

Richard received his Bachelor of Science in Business Administration from the University of Nebraska at Lincoln. He is a licensed Certified Public Accountant in Nebraska and Illinois and is a member of the AICPA and the Illinois CPA Society.

Ronald G. Pippin Ronald G. Pippin, CPA, Managing Director, Accounting Research Manager, authors, maintains, and approves all of the updates to the accounting and SEC content on the Accounting Research Manager (ARM) database. He also provides oversight guidance to the audit and other material added to ARM. Among other responsibilities at ARM, Ron reviews the completeness of the content for this publication, CCH Accounting for Income Taxes.

Ron has 20 years of public accounting experience, including six years as an audit partner with Arthur Andersen. He also served as the senior technical accounting officer at a Chicago-based Fortune 50 firm for 10 years. Before Ron joined CCH, he worked in Andersen's Professional Standards Group (commonly known as the â€˜â€˜national officeâ€™â€™), where he consulted on technical accounting matters and contributed to the authoring and maintenance of ARMâ€™s content. Wolters Kluwer purchased ARM from Andersen in 2002.

Ron is a CPA, a graduate of the University of Colorado in Boulder, and a member of Financial Executives International, the AICPA, and the Illinois Society of CPAs.