Wiley GAAP 2008: Interpretation and Application of Generally Accepted Accounting Principles
The most practical, authoritative guide to GAAP
Wiley GAAP 2008 delivers the most recent professional standards developments, in addition to detailed analysis of all generally accepted accounting principles (GAAP), explaining the original, highly technical pronouncements in easy-to-understand terms and providing battle-tested, real-world examples and implementation guidance. Wiley GAAP 2008 contains a host of completely updated examples.
This annual publication offers expert interpretation and explanation of all accounting principles currently effective or being deliberated in one single book. The authors provide clear, user-friendly guidance on every pronouncement including FASB Technical Bulletins, AcSEC Practice Bulletins, FASB Implementation Guides, AICPA Statements of Position, and AICPA Accounting Interpretations.
All pronouncements are explained with relevant terminology and practice-oriented real-world examples. Each chapter is composed of a discussion of perspectives and issue, sources of GAAP, a definition of terms, concepts, rules and examples, and for some chapters, specific appendices. Wiley GAAP 2008 contains a detailed index for easy reference use.
Barry J. Epstein (Chicago, IL) is a partner with Russell Novak & Company, LLP, where he specializes in technical consultation on accounting and auditing matters, litigation consulting, and corporate governance. Ralph Nach (Chicago, IL) is a partner in the National Office of Audit and Accounting of McGladrey & Pullen, LLP, where he specializes in technical consultation and continuing professional education. Steven M. Bragg (Centennial, CO) has been the chief financial officer or controller of four companies, as well as a consulting manager at Ernst & Young. He is the author of 27 books published by Wiley.
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Authoritative Accounting Pronouncements
Researching GAAP Matters
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accounting principle acquired acquisition adjustment allocated amortization applied assets and liabilities available-for-sale balance sheet beneﬁts book value business combination capital carrying amount carrying value cash ﬂows classiﬁed comprehensive income computed Consensus reached consolidated contract conversion cost deﬁned deﬁnition depreciation disclosure discount eamings earnings effect EITF entity’s equity method estimated example expected expense fair value FASB ﬁnancial assets ﬁnancial instruments ﬁnancial reporting ﬁnancial statements ﬁnancing ﬁrst ﬁxed GAAP gain or loss goodwill gross proﬁt hedge identiﬁed impairment included income statement income tax incurred intangible intangible assets interest rate inventory investment investor issued lease LIFO loan measurement ment nulliﬁed obligation operations option payable payments period present value purchase Put option QSPE receivable recognized recorded reﬂect reporting entity reporting unit result retained earnings retum seller shares signiﬁcant sold speciﬁed standard transaction transfer transferor variable interest entity