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CCH Accounting Research Manager Adds FAS 157 Questions, Answers

(RIVERWOODS, ILL., June 19, 2008) – The CCH Accounting Research Manager® (ARM) – the premier research database of accounting, auditing, SEC and governmental authoritative literature and interpretive guidance – has enhanced its Audit Public library with an extensive set of questions and answers on Financial Accounting Standard (FAS) 157. CCH, a Wolters Kluwer business is a leading provider of tax, accounting and audit information, software and services (CCHGroup.com).

“As standards change, our subscribers can rely on ARM to provide the interpretive guidance they need to implement the change,” said Brian Steinert, CCH product manager. “The Financial Accounting Standards Board has defined new standards with FAS 157, and accountants will benefit from the kind of guidance we’re providing in our FAS 157 Q&A to understand them.”

The FAS 157 Q&A focuses on issues of importance to corporate accounting departments. More than 110 questions cover topics such as:

  • Overview and Scope of FAS 157;
  • Definition and Measurement of Fair Value;
  • Primary Effects of FAS 157;
  • Fair Value Hierarchy;
  • Recurring and Non-recurring Valuation;
  • Principal and Most Advantageous Market;
  • Disclosure;
  • Risk Adjustment;
  • Exit and Entry Price;
  • Observable and Unobservable Inputs;
  • SEC MD&A Guidance; and
  • Effective Dates and Transition.

Other FAS 157 Content on ARM

In addition to the FAS 157 Q&A, ARM subscribers are able to access further FAS 157 material within the database such as the full text of FAS 157 under Financial Accounting Standards Board Statements of Financial Accounting Standards and interpretive materials on FAS 157 under Interpretations and Examples – Fair Value Accounting – An Overview of FASB Statements 157 and 159.

Access to CCH FAS 157 Manager

ARM subscribers who require the full analysis and functionality of the CCH FAS 157 Manager product on the CCH® Tax Research NetWork TM can purchase that product for a 30 percent discount off the list price. ARM subscribers will receive the full content of more than 110 FAS 157 Questions and Answers in Smart Chart™ format that link out to FAS 157 primary source material and related practice aids, FAS 157 Practice Aids, FAS 157 Best Practices, FASB Statement No. 157 Primary Source Material and sample SEC FAS 157 10-K and 10-Q filings by industry. The FAS 157 Manager focuses on issues of interest to corporate tax departments, valuations specialists and accountants.

Within ARM, users will be able to access the CCH FAS 157 Manager via a link in the Table of Contents page of the FAS 157 Q&A (Interpretations of FASB Statement 157) allowing easy access to more detailed guidance on this hot topic.

About Accounting Research Manager

Developed by a major international accounting firm, Accounting Research Manager is the most comprehensive and insightful database of expert-written interpretations of accounting, auditing, government and SEC information. It also includes authoritative and proposed literature from the FASB, AICPA, SEC, EITF, IASB, PCAOB, GASB, GAO and OMB. Updated daily, it is the current, complete and objective resource for professionals’ financial reporting needs.

Availability and Pricing

For a free trial or additional information on the Accounting Research Manager, visit accountingresearchmanager.com. To learn more, contact a sales representative or call 1-800-872-2454. Current ARM subscribers can add the FAS 157 Manager on the CCH Tax Research NetWork for a discounted price of $695.

About CCH, a Wolters Kluwer business

CCH, a Wolters Kluwer business (CCHGroup.com) is a leading provider of tax, accounting and audit information, software and services. It has served tax, accounting and business professionals since 1913. Among its market-leading products are The ProSystem fx® Office, CorpSystem®, CCH® Tax Research NetWork™, Accounting Research Manager® and the U.S. Master Tax Guide®. CCH is based in Riverwoods, Ill.

Wolters Kluwer is a leading global information services and publishing company. The company provides products and services globally for professionals in the health, tax, accounting, corporate, financial services, legal and regulatory sectors. Wolters Kluwer has annual revenues (2007) of €3.4 billion ($4.8 billion), maintains operations in over 33 countries across Europe, North America and Asia Pacific and employs approximately 19,544 people worldwide. Wolters Kluwer is headquartered in Amsterdam, the Netherlands. For more information, visit www.wolterskluwer.com.

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