Wiley GAAP 2010: Interpretation and Application of Generally Accepted Accounting Principles
John Wiley & Sons, Oct 12, 2009 - Business & Economics - 1392 pages
The most practical, authoritative guide to GAAP
Beginning July 1, 2009, the Financial Accounting Standards Board's (FASB's) Accounting Standards Codification (ASC) has superseded virtually all promulgated GAAP, replacing what had previously comprised four levels in the GAAP hierarchy with a single set of codified GAAP. The objective was to create a new, clearer indexing system that is much easier to access and use to research solutions to real-world financial reporting problems. Although the Codification does not itself change U.S. generally accepted accounting principles (GAAP), it has comprehensively reorganized the myriad of GAAP rules (FASB statements, AICPA statements of position, EITF consensuses, guidance from Audit and Accounting Guides, FASB staff positions, etc.) into a single, easy-to-use compendium conveniently organized by topic or subject.
Wiley GAAP 2010 contains, as did its predecessor editions, complete coverage of all levels of GAAP, now indexed to the new ASC. Wiley GAAP renders GAAP more understandable and accessible for research, and has been designed to reduce the amount of time and effort needed to solve accounting research issues. As it has since its inception in 1985, Wiley GAAP provides interpretive guidance and a wealth of real-world, content-rich examples and illustrations to provide the type of insight into the application of complex financial reporting rules that traditional handbooks and their "plain vanilla" illustrations simply cannot offer.
Wiley GAAP 2010 is your one necessary authoritative guide to GAAP under the new codification system. This invaluable resource makes learning the new ASC system a breeze, with at-your-fingertips information that does the work for you. Practicable and reliable, Wiley GAAP 2010 is the essential tool to navigate these yet uncharted waters.
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STATEMENT OF FINANCIAL
Researching GAAP Problems
Perspective and Issues
on the statement of financial position Investors main concern was the shortrun maximiza
Statements of Income and Comprehensive Income
Statement of Cash Flows
Accounting Policies Changes and Restatements
Business Combinations and Consolidated Financial Statements
Current Liabilities and Contingencies
Pensions and Other Postretirement Benefits
Cash Receivables and Prepaid Expenses
ShortTerm Investments and Financial Instruments
Revenue RecognitionEvolving Principles and Specialized
What Is GAAP?