Wiley GAAP Codification Enhanced

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John Wiley & Sons, Apr 8, 2009 - Study Aids - 1440 pages
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The essential guide to the new GAAP Accounting Standards Codification

Wiley's long-running series of annual GAAP references has been the essential series for accountants using U.S. Generally Accepted Accounting Standards for more than a generation. Every year, the Federal Accounting Standards Board (FASB) adds more rulings and more details to the end of an already long and complicated list, and Wiley GAAP brings order to the chaos. But this year is different: the FASB has spent several years and a reported $13 million consolidating all of those many and varied pronouncements on standards into a single, integrated Accounting Standards Codification (ASC). Under the old system, GAAP pronouncements were listed chronologically. Now newly codified standards will be listed by subject–so information is easier to find then ever.

In April of 2009, when the FASB switches to the new ASC, every accountant in the nation will need a guide to the new system. Wiley GAAP Codification Enhanced is a full and complete guide to using the newly reorganized standards, providing complete coverage of all levels of GAAP in a single volume. It explains the original, highly technical pronouncements in easy-to understand terms with copious practical implementation guidance.

Barry J. Epstein (Chicago, IL) is a partner with Russell Novak & Company, LLP, where he specializes in technical consultation on accounting and auditing matters and corporate governance. Ralph Nach (Chicago, IL) is a Vice-President of AuditWatch, Inc., for whom he writes, teaches, and consults on a wide range of accounting, auditing, and financial reporting matters. 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 more than 30 Wiley titles.

 

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Contents

Chapter 2 BALANCE SHEET
43
Chapter 3 STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
71
Chapter 4 STATEMENT OF CASH FLOWS
107
Chapter 5 ACCOUNTING POLICIES CHANGES AND RESTATEMENTS
124
Chapter 6 FAIR VALUE
157
Chapter 7 CASH RECEIVABLES AND PREPAID EXPENSES
193
Chapter 8 SHORTTERM INVESTMENTS AND FINANCIAL INSTRUMENTS
246
Chapter 9 INVENTORY
311
Chapter 16 LEASES
786
Chapter 17 INCOME TAXES
862
Chapter 18 PENSIONS AND OTHER POSTRETIREMENT BENEFITS
935
Chapter 19 STOCKHOLDERS EQUITY
983
Chapter 20 EARNINGS PER SHARE
1052
Chapter 21 INTERIM REPORTING
1081
Chapter 22 SEGMENT REPORTING
1094
Chapter 23 FOREIGN CURRENCY
1105

Chapter 10 REVENUE RECOGNITIONEVOLVING PRINCIPLES AND SPECIALIZED APPLICATIONS
349
Chapter 11 LONGLIVED ASSETS
427
Chapter 12 LONGTERM INVESTMENTS
499
Chapter 13 BUSINESS COMBINATIONS AND CONSOLIDATED FINANCIAL STATEMENTS
581
Chapter 14 CURRENT LIABILITIES AND CONTINGENCIES
718
Chapter 15LONGTERM LIABILITIES
739
Chapter 24 PERSONAL FINANCIAL STATEMENTS
1132
Chapter 25 SPECIALIZED INDUSTRY GAAP
1140
APPENDIX A DISCLOSURE CHECKLIST FOR COMMERCIAL BUSINESSES
1242
APPENDIX B INTERNATIONAL VS US ACCOUNTING STANDARDS
1297
Index
1317
Copyright

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About the author (2009)

Barry J. Epstein is a partner with Chicago-based Russell Novak & Company, LLP, where he specializes in technical consultation on accounting and auditing matters and corporate governance, and serves as a consulting and testifying expert for various litigation matters.

Ralph Nach is a Vice President of AuditWatch, Inc., where he writes, teaches, and consults on a wide range of accounting, auditing, and financial reporting matters.

Steven M. Bragg 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 more than thirty Wiley titles.

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