Wiley GAAP Policies and Procedures

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John Wiley & Sons, Jan 28, 2008 - Study Aids - 320 pages
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Now fully updated and at your fingertips the most practical, authoritative guide to implementing GAAP Get the answers you need to prepare financial statements and keep up to date on the latest FASB requirements. Now fully revised and updated, Wiley GAAP Policies and Procedures, Second Edition is an ideal companion to the Wiley GAAP guide and provides the practical application information essential to ensuring that a company's accounting systems are fully capable of incorporating the most recent GAAP. A concise version of the more detailed GAAP found in the Wiley GAAP guides, Wiley GAAP Policies and Procedures, Second Edition features handy, illustrative decision trees showing how to determine which GAAP ruling to use in a variety of situations, eliminating hours of time wading through detailed GAAP rulings and presents:
* New chapters on interim reporting, segment reporting, and accounting changes and correction of errors
* Updated content on FAS No. 151, Inventory Costs, FAS No. 153, Exchanges of Non-monetary Assets, FAS No. 154, Accounting Changes and Error Correction, FAS No. 156, Servicing of Financial Assets
* Implementation on nineteen newly issued EITFs
* Specific accounting policies that comply with GAAP, especially in terms of creating controls that mesh with GAAP
* The most common accounting transactions modified to work within GAAP restrictions
* Specific controls that allow the maximum level of control over accounting systems while remaining in compliance with GAAP
* Templates for forms and reports that can be used in a GAAP-compliant accounting system
* Numerous examples of footnotes that can be used to describe GAAP-mandated financial disclosures
* Hundreds of GAAP-compliant journal entries for most accounting transactions
Wiley GAAP Policies and Procedures, Second Edition is a valuable tool for CFOs, controllers, accounting managers, and general ledger accountants who need to ensure that their company properly treats all types of accounting transactions in accordance with GAAP.
 

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Contents

Chapter 1 RESEARCHING GAAP IMPLEMENTATION PROBLEMS
1
Chapter 2 CASH RECEIVABLES AND PREPAID EXPENSES
9
Chapter 3 SHORTTERM INVESTMENTS AND FINANCIAL INSTRUMENTS
37
Chapter 4 INVENTORY
45
Chapter 5 REVENUE RECOGNITION
85
Chapter 6 LONGLIVED ASSETS
137
Chapter 7 INVESTMENTS
179
Chapter 8 BUSINESS COMBINATIONS AND CONSOLIDATED FINANCIAL STATEMENTS
211
Chapter 10 LONGTERM DEBT
255
Chapter 11 LEASES
289
Chapter 12 PENSIONS AND OTHER POSTRETIREMENT BENEFITS
315
Chapter 13 STOCKHOLDERS EQUITY
323
Chapter 14 INTERIM REPORTING
369
Chapter 15 SEGMENT REPORTING
375
Chapter 16 FOREIGN CURRENCY
383
Index
397

Chapter 9 CURRENT LIABILITIES AND CONTINGENCIES
229

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Page 1 - Board (FASB) is to establish and improve standards of financial accounting and reporting for the guidance and education of the public, including issuers, auditors and users of financial information.

About the author (2008)

Steven M. Bragg, CPA, CMA, CIA, CPIM, has been the chief financial officer or controller of four companies, as well as a consulting manager at Ernst & Young and auditor at Deloitte & Touche. He received a master's degree in finance from Bentley College, an MBA from Babson College, and a bachelor's degree in economics from the University of Maine. He has been the two-time president of the Colorado Mountain Club, is an avid alpine skier and mountain biker, and is a certified master diver. Mr. Bragg resides in Centennial, Colorado. He is also the author of Accounting Best Practices and Design and Maintenance of Accounting Manuals, both from Wiley.

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