This is a thorough study and analysis of all generally accepted accounting principles (GAAP) set forth in the pronouncements of the FASB (Financial Accounting Standards Board) and its predecessor agencies. Additionally, this guide contains AICPA Accounting Standards Executive Committee (ASEC) Statements of Position. Each chapter is composed of a discussion of perspectives and issues, sources of GAAP, a definition of terms, concepts, rules and examples, and, for some chapters, specific appendices.
The most practical, authoritative guide to GAAP
Amidst a national parade of corporate scandals, accounting professionals require a timely, rock-solid resource in order to instill clients and investors with the confidence they have come to expect. Wiley GAAP 2003 delivers the most recent developments and analysis of all generally accepted accounting principles (GAAP), restating the original, highly-technical pronouncements in easy-to-understand terms and providing battle-tested implementation guidance. Unlike other guides, Wiley GAAP offers complete coverage of Levels A, B, and C GAAP in a single volume, including EITF issues that have not yet been reduced to consensus's as well as EITF Appendix D discussion matters. Wiley GAAP 2003 contains a host of completely updated features, such as:
*A streamlined format that helps readers find what they need to know quickly
*In-depth coverage and copious examples of the latest SFASs: asset retirement obligations (SFAS 143), asset impairment (SFAS 144), accounting for goodwill and other intangibles (SFAS 142), and transfers of financial assets (SFAS 140)
*Detailed coverage of important, current FASB and AcSEC projects, such as liabilities versus equity and property, plant, and equipment
*Expanded discussions of hot topics, such as special purpose entities, pro forma earnings, and revenue recognition issues
*Real-world examples and comprehensive analysis of complex areas like hedging, consolidated reporting, derivatives, income taxes, leases, and segment reporting
*A chapter on special revenue recognition areas
*An authoritative financial statement disclosure checklist
Featuring numerous real-world examples, illustrations, and helpful practice hints that are extremely user friendly, Wiley GAAP 2003 is designed with the needs of the reader in mind. Covering the entire GAAP hierarchy, Wiley GAAP addresses all effective pronouncements, including:
*FASB Interpretations
*FASB Technical Bulletins
*FASB Statements of Financial Accounting Concepts
*FASB Statements of Financial Accounting Standards (SFASs)
*Consensus Opinions of the Emerging Issues Task Force of the FASB
*AICPA Statements of Position
*Accounting Research Bulletins
*Accounting Principles Board Opinions
*AICPA dit and Accounting Guides
As clients demand accounting procedures they can trust, so accountants require up-to-date reference materials they know they can depend on. More than any other resource, Wiley GAAP 2003 provides the indispensable tools for the accounting professional.
