New guidance on implementing Staff Accounting Bulletin No. 101 (SAB 101) has been published by the Securities and Exchange Commission (SEC), available through the Frequently Asked Questions section on the SEC Web site, www.sec.gov. SAB 101, which deals with revenue recognition issues, was announced in December 1999, but the implementation date was deferred after the SEC received many requests for the deference from registrants and their auditors, who wanted more time to determine the impact of SAB 101 on registrants' financial statements. The staff received many inquiries from auditors, preparers, and analysts regarding the guidance and how it would apply to certain transactions.