About the Author:
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). Ronald G. Pippin authors, maintains and approves all of the updates to the accounting and SEC content on Accounting Research Manager (ARM). He also provides oversight guidance to the audit and other material added to ARM. 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 national office), where he consulted on technical accounting matters and contributed to the authoring and maintenance of ARM s content. His experience while working for the Fortune 50 company included discussion of a complex financial statement presentation issue with the Chief Accountant of the SEC and others from the SEC's Office of the Chief Accountant. Further, while in Andersen's national office, he discussed numerous accounting and reporting issues with members of the SEC s Division of Corporation Finance. 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 AICPA 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 Enterprises Accounting for the Discontinuation of Application of FASB Statement No. 71. He also worked on issues related to business combinations and leveraged buyouts.
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