GAAP Guide (2021)

As a professional accountant, your clients depend on you to stay ahead of the curve. This is especially true when it comes to understanding and applying authoritative generally accepted accounting principles (GAAP) literature in clear language. Each Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) pronouncement is discussed in an all-inclusive format to help readers easily stay informed of new accounting rules and principles that must be implemented in your day-to-day practice.

What Is Covered in the GAAP Guide?
Readers will receive guidance and gain a clear understanding of major accounting standards, concepts and regulations. They will also have access to practical illustrations and examples to help supplement their learning and facilitate real-world GAAP applications. To easily navigate through this guide, it is organized by ASC topics. Each chapter covers one or more related principles, making it simple to locate the information you need. In the table of contents preceding each chapter, you can view all the ASC topics, certain industry coverage, and the corresponding page number(s). This guide also includes a general index with quick page references to make your research even more convenient.

Preparing You for the Real World
As a tax and accounting professional, you need to know more than just abstract rules, you need to know how to apply them to real-world situations. For this key reason, the GAAP Guide provides Practice Pointers so you can develop a better understanding of how these principles apply to your financial reporting.