Wiley GAAP 2016
Interpretation and Application of Generally Accepted Accounting Principles
Published on 23. November 2015
1488 pages
978-1-119-10607-4 (ISBN)
Description
The complete, cross-referenced GAAP guide, with illustrations, explanations, and examples
Wiley GAAP 2016 contains the most comprehensive coverage of all GAAP pronouncements in a single volume, providing professionals with a complete reference to the entire GAAP hierarchy. This new edition includes the latest updates to the standards, along with AICPA ASEC statements of position and a comprehensive cross-reference of accounting topics to the new FASB codification system. All pronouncements are fully explained in detail, including terminology, and practice exercises demonstrate real-world application. Each chapter includes a discussion of perspectives and issues, sources of GAAP, definitions, concepts, rules, and examples, with specific appendices where applicable. This useful guide contains numerous examples and illustrations, and all original pronouncements are referenced to the FASB Current Text.
GAAP is constantly being updated, and users require expert interpretation and explanation of relevant principles with every new pronouncement. This book provides clear, comprehensive guidance, including FASB Technical Bulletins, AcSEC Practice Bulletins, FASB Implementation Guides, and AICPA Statements of Position and Accounting Interpretations. Readers will:
* Refer to GAAP standards and ASEC statements
* Understand relevant terminology, concepts, and rules
* Study detailed examples to gain a solid working knowledge of the standards
* Gain confidence by practicing GAAP applications before using it in the field
This guide represents the most complete, comprehensive GAAP reference available, and the digital format allows for instant access to information through the point-and-click Index and Table of Contents. A thorough study and analysis of all US Generally Accepted Accounting Principles, Wiley GAAP 2016 is the essential reference.
Wiley GAAP 2016 contains the most comprehensive coverage of all GAAP pronouncements in a single volume, providing professionals with a complete reference to the entire GAAP hierarchy. This new edition includes the latest updates to the standards, along with AICPA ASEC statements of position and a comprehensive cross-reference of accounting topics to the new FASB codification system. All pronouncements are fully explained in detail, including terminology, and practice exercises demonstrate real-world application. Each chapter includes a discussion of perspectives and issues, sources of GAAP, definitions, concepts, rules, and examples, with specific appendices where applicable. This useful guide contains numerous examples and illustrations, and all original pronouncements are referenced to the FASB Current Text.
GAAP is constantly being updated, and users require expert interpretation and explanation of relevant principles with every new pronouncement. This book provides clear, comprehensive guidance, including FASB Technical Bulletins, AcSEC Practice Bulletins, FASB Implementation Guides, and AICPA Statements of Position and Accounting Interpretations. Readers will:
* Refer to GAAP standards and ASEC statements
* Understand relevant terminology, concepts, and rules
* Study detailed examples to gain a solid working knowledge of the standards
* Gain confidence by practicing GAAP applications before using it in the field
This guide represents the most complete, comprehensive GAAP reference available, and the digital format allows for instant access to information through the point-and-click Index and Table of Contents. A thorough study and analysis of all US Generally Accepted Accounting Principles, Wiley GAAP 2016 is the essential reference.
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Joanne M. Flood
Wiley GAAP 2016 - Interpretation and Application of Generally Accepted Accounting Principles
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12/2015
Wiley
€123.91
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Joanne M. Flood
Wiley GAAP 2016
Interpretation and Application of Generally Accepted Accounting Principles
Book
11/2015
Wiley
€119.00
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Joanne Flood, MBA, CPA, (Rockville Centre, NY) has accounting experience within both a Big 4 international firm and a small firm. She has worked as a senior manager in the AICPA's Professional Development group. Joanne received her MBA in Accounting Summa Cum Laude from Adelphi University.
While in public accounting, she worked on major clients in retail, manufacturing, and finance and on small business clients in construction, manufacturing, and professional services. At the AICPA, she managed the development and wrote courses in the accounting and auditing product line. She also wrote and produced training materials in a wide variety of media, including print, video, and audio, and pioneered the AICPA's elearning product line.
While in public accounting, she worked on major clients in retail, manufacturing, and finance and on small business clients in construction, manufacturing, and professional services. At the AICPA, she managed the development and wrote courses in the accounting and auditing product line. She also wrote and produced training materials in a wide variety of media, including print, video, and audio, and pioneered the AICPA's elearning product line.
Content
Preface ix
About the Author xiii
Codification Taxonomy xv
1 ASC 105 Generally Accepted Accounting Principles 1
2 ASC 205 Presentation of Financial Statements 25
3 ASC 210 Balance Sheet 33
4 ASC 215 Statement of Shareholder Equity 47
5 ASC 220 Comprehensive Income 49
6 ASC 225 Income Statement 57
7 ASC 230 Statement of Cash Flows 69
8 ASC 235 Notes to Financial Statements 89
9 ASC 250 Accounting Changes and Error Corrections 95
10 ASC 255 Changing Prices 123
11 ASC 260 Earnings Per Share 127
12 ASC 270 Interim Reporting 159
13 ASC 272 Limited Liability Entities 173
14 ASC 274 Personal Financial Statements 177
15 ASC 275 Risks and Uncertainties 185
16 ASC 280 Segment Reporting 191
17 ASC 305 Cash and Cash Equivalents 203
18 ASC 310 Receivables 207
19 ASC 320 Investments--Debt and Equity Securities 243
20 ASC 323 Investments--Equity Method and Joint Ventures 269
21 ASC 325 Investments--Other 303
22 ASC 330 Inventory 313
23 ASC 340 Other Assets and Deferred Costs 353
24 ASC 350 Intangibles--Goodwill and Other 361
25 ASC 360 Property, Plant, and Equipment 383
26 ASC 405 Liabilities 427
27 ASC 410 Asset Retirement and Environmental Obligations 431
28 ASC 420 Exit or Disposal Cost Obligations 445
29 ASC 430 Deferred Revenue 451
30 ASC 440 Commitments 453
31 ASC 450 Contingencies 457
32 ASC 460 Guarantees 465
33 ASC 470 Debt 477
34 ASC 480 Distinguishing Liabilities From Equity 515
35 ASC 505 Equity 533
36 ASC 605 Revenue Recognition 561
Appendix--Overview of ASC 606
37 ASC 705 Cost of Sales and Services 629
38 ASC 710 Compensation--General 631
39 ASC 712 Compensation--Nonretirement Postemployment Benefits 637
40 ASC 715 Compensation--Retirement Benefits 639
41 ASC 718 Compensation--Stock Compensation 687
42 ASC 720 Other Expenses 723
43 ASC 730 Research and Development 729
44 ASC 740 Income Taxes 735
45 ASC 805 Business Combinations 787
46 ASC 808 Collaborative Arrangements 835
47 ASC 810 Consolidations 845
48 ASC 815 Derivatives and Hedging 887
49 ASC 820 Fair Value Measurements 945
50 ASC 825 Financial Instruments 967
51 ASC 830 Foreign Currency Matters 975
52 ASC 835 Interest 1003
53 ASC 840 Leases 1023
54 ASC 845 Nonmonetary Transactions 1087
55 ASC 850 Related-Party Disclosures 1101
56 ASC 852 Reorganizations 1103
57 ASC 853 Service Concession Arrangements 1107
58 ASC 855 Subsequent Events 1109
59 ASC 860 Transfers and Servicing 1113
60 ASC 900s Specialized Industry GAAP 1151
Appendix A: Definitions of Terms 1283
Appendix B: Disclosure Checklist for Commercial Businesses 1301
Index 1401
Topic # and title Subtopic # and title I. General Principles and Objectives 105 Generally Accepted Accounting Principles 105-10 Overall II. Overall Financial Reporting, Presentation, and Display Matters A. Overall Presentation of Financial Statements 205 Presentation of Financial Statements 205-10 Overall 205-20 Discontinued Operations 205-30 Liquidation Basis of Accounting 205-40 Going Concern 210 Balance Sheet 210-10 Overall 210-20 Offsetting 215 Statement of Shareholders' Equity 215-10 Overall 220 Comprehensive Income 220-10 Overall 225 Income Statement 225-10 Overall 225-20 Extraordinary and Unusual Items 225-30 Business Interruption Insurance 230 Statement of Cash Flows 230-10 Overall 235 Notes to Financial Statements 235-10 Overall B. Various Financial Reporting, Presentation, and Display Matters 250 Accounting Changes and Error Corrections 250-10 Overall 255 Changing Prices 255-10 Overall 260 Earnings Per Share 260-10 Overall 270 Interim Reporting 270-10 Overall 270-40 Income Taxes 272 Limited Liability Entities 272-10 Overall 274 Personal Financial Statements 274-10 Overall 275 Risks and Uncertainties 275-10 Overall 280 Segment Reporting 280-10 Overall III. Transaction-Related Topics A. Financial Statement Accounts 305 Cash and Cash Equivalents 305-10 Overall 310 Receivables 310-10 Overall 310-20 Nonrefundable Fees and Other Costs 310-30 Loans and Debt Securities Acquired with Deteriorated Credit Quality 310-40 Troubled Debt Restructurings by Creditors 320 Investments-Debt and Equity Securities 320-10 Overall 323 Investments-Equity Method and Joint Ventures 323-10 Overall 323-30 Partnerships, Joint Ventures, and Limited Liability Entities 325 Investments-Other 325-10 Overall 325-20 Cost Method Investments 325-30 Investments in Insurance Contracts 325-40 Beneficial Interests in Securitized Financial Assets 330 Inventory 330-10 Overall 340 Other Assets and Deferred Costs 340-10 Overall 340-20 Capitalized Advertising Costs 340-30 Insurance Contracts that Do Not Transfer Insurance Risk 340-40 Contracts with Customers 350 Intangibles-Goodwill and Other 350-10 Overall 350-20 Goodwill 350-30 General Intangibles Other Than Goodwill 350-40 Internal-Use Software 350-50 Web Site Development Costs 360 Property, Plant, and Equipment 360-10 Overall 360-20 Real Estate Sales 405 Liabilities 405-10 Overall 405-20 Extinguishment of Liabilities 405-30 Insurance-Related Assessments 405-40 Obligations Resulting from Joint and Several Liabilities 410 Asset Retirement and Environmental Obligations 410-10 Overall 410-20 Asset Retirement Obligations 410-30 Environmental Obligations 420 Exit or Disposal Cost Obligations 420-10 Overall 430 Deferred Revenue 430-10 Overall 440 Commitments 440-10 Overall 450 Contingencies 450-10 Overall 450-20 Loss Contingencies 450-30 Gain Contingencies 460 Guarantees 460-10 Overall 470 Debt 470-10 Overall 470-20 Debt with Conversion and Other Options 470-30 Participating Mortgage Loans 470-40 Product Financing Arrangements 470-50 Modifications and Extinguishments 470-60 Troubled Debt Restructurings by Debtors 480 Distinguishing Liabilities from Equity 480-10 Overall 505 Equity 505-10 Overall 505-20 Stock Dividends and Stock Splits 505-30 Treasury Stock 505-50 Equity-Based Payments to Non-Employees 505-60 Spin-offs and Reverse Spin-offs 605 Revenue Recognition 605-10 Overall 605-15 Products 605-20 Services 605-25 Multiple-Element Arrangements 605-28 Milestone Method 605-30 Rights to Use 605-35 Construction-Type and Production-Type Contracts 605-40 Gains and Losses 605-45 Principal-Agent Considerations 605-50 Customer Payments and Incentives 606 Revenue from Contracts with Customers 606-10 Overall1 610 Other Income 610-10 Overall1 610-20 Gains and Losses from the Derecognition of Nonfinancial Assets 610-30 Gains and Losses on Involuntary Conversions 705 Cost of Sales and Services 705-10 Overall 705-20 Accounting for Consideration Received...
About the Author xiii
Codification Taxonomy xv
1 ASC 105 Generally Accepted Accounting Principles 1
2 ASC 205 Presentation of Financial Statements 25
3 ASC 210 Balance Sheet 33
4 ASC 215 Statement of Shareholder Equity 47
5 ASC 220 Comprehensive Income 49
6 ASC 225 Income Statement 57
7 ASC 230 Statement of Cash Flows 69
8 ASC 235 Notes to Financial Statements 89
9 ASC 250 Accounting Changes and Error Corrections 95
10 ASC 255 Changing Prices 123
11 ASC 260 Earnings Per Share 127
12 ASC 270 Interim Reporting 159
13 ASC 272 Limited Liability Entities 173
14 ASC 274 Personal Financial Statements 177
15 ASC 275 Risks and Uncertainties 185
16 ASC 280 Segment Reporting 191
17 ASC 305 Cash and Cash Equivalents 203
18 ASC 310 Receivables 207
19 ASC 320 Investments--Debt and Equity Securities 243
20 ASC 323 Investments--Equity Method and Joint Ventures 269
21 ASC 325 Investments--Other 303
22 ASC 330 Inventory 313
23 ASC 340 Other Assets and Deferred Costs 353
24 ASC 350 Intangibles--Goodwill and Other 361
25 ASC 360 Property, Plant, and Equipment 383
26 ASC 405 Liabilities 427
27 ASC 410 Asset Retirement and Environmental Obligations 431
28 ASC 420 Exit or Disposal Cost Obligations 445
29 ASC 430 Deferred Revenue 451
30 ASC 440 Commitments 453
31 ASC 450 Contingencies 457
32 ASC 460 Guarantees 465
33 ASC 470 Debt 477
34 ASC 480 Distinguishing Liabilities From Equity 515
35 ASC 505 Equity 533
36 ASC 605 Revenue Recognition 561
Appendix--Overview of ASC 606
37 ASC 705 Cost of Sales and Services 629
38 ASC 710 Compensation--General 631
39 ASC 712 Compensation--Nonretirement Postemployment Benefits 637
40 ASC 715 Compensation--Retirement Benefits 639
41 ASC 718 Compensation--Stock Compensation 687
42 ASC 720 Other Expenses 723
43 ASC 730 Research and Development 729
44 ASC 740 Income Taxes 735
45 ASC 805 Business Combinations 787
46 ASC 808 Collaborative Arrangements 835
47 ASC 810 Consolidations 845
48 ASC 815 Derivatives and Hedging 887
49 ASC 820 Fair Value Measurements 945
50 ASC 825 Financial Instruments 967
51 ASC 830 Foreign Currency Matters 975
52 ASC 835 Interest 1003
53 ASC 840 Leases 1023
54 ASC 845 Nonmonetary Transactions 1087
55 ASC 850 Related-Party Disclosures 1101
56 ASC 852 Reorganizations 1103
57 ASC 853 Service Concession Arrangements 1107
58 ASC 855 Subsequent Events 1109
59 ASC 860 Transfers and Servicing 1113
60 ASC 900s Specialized Industry GAAP 1151
Appendix A: Definitions of Terms 1283
Appendix B: Disclosure Checklist for Commercial Businesses 1301
Index 1401
Codification Taxonomy
Topic # and title Subtopic # and title I. General Principles and Objectives 105 Generally Accepted Accounting Principles 105-10 Overall II. Overall Financial Reporting, Presentation, and Display Matters A. Overall Presentation of Financial Statements 205 Presentation of Financial Statements 205-10 Overall 205-20 Discontinued Operations 205-30 Liquidation Basis of Accounting 205-40 Going Concern 210 Balance Sheet 210-10 Overall 210-20 Offsetting 215 Statement of Shareholders' Equity 215-10 Overall 220 Comprehensive Income 220-10 Overall 225 Income Statement 225-10 Overall 225-20 Extraordinary and Unusual Items 225-30 Business Interruption Insurance 230 Statement of Cash Flows 230-10 Overall 235 Notes to Financial Statements 235-10 Overall B. Various Financial Reporting, Presentation, and Display Matters 250 Accounting Changes and Error Corrections 250-10 Overall 255 Changing Prices 255-10 Overall 260 Earnings Per Share 260-10 Overall 270 Interim Reporting 270-10 Overall 270-40 Income Taxes 272 Limited Liability Entities 272-10 Overall 274 Personal Financial Statements 274-10 Overall 275 Risks and Uncertainties 275-10 Overall 280 Segment Reporting 280-10 Overall III. Transaction-Related Topics A. Financial Statement Accounts 305 Cash and Cash Equivalents 305-10 Overall 310 Receivables 310-10 Overall 310-20 Nonrefundable Fees and Other Costs 310-30 Loans and Debt Securities Acquired with Deteriorated Credit Quality 310-40 Troubled Debt Restructurings by Creditors 320 Investments-Debt and Equity Securities 320-10 Overall 323 Investments-Equity Method and Joint Ventures 323-10 Overall 323-30 Partnerships, Joint Ventures, and Limited Liability Entities 325 Investments-Other 325-10 Overall 325-20 Cost Method Investments 325-30 Investments in Insurance Contracts 325-40 Beneficial Interests in Securitized Financial Assets 330 Inventory 330-10 Overall 340 Other Assets and Deferred Costs 340-10 Overall 340-20 Capitalized Advertising Costs 340-30 Insurance Contracts that Do Not Transfer Insurance Risk 340-40 Contracts with Customers 350 Intangibles-Goodwill and Other 350-10 Overall 350-20 Goodwill 350-30 General Intangibles Other Than Goodwill 350-40 Internal-Use Software 350-50 Web Site Development Costs 360 Property, Plant, and Equipment 360-10 Overall 360-20 Real Estate Sales 405 Liabilities 405-10 Overall 405-20 Extinguishment of Liabilities 405-30 Insurance-Related Assessments 405-40 Obligations Resulting from Joint and Several Liabilities 410 Asset Retirement and Environmental Obligations 410-10 Overall 410-20 Asset Retirement Obligations 410-30 Environmental Obligations 420 Exit or Disposal Cost Obligations 420-10 Overall 430 Deferred Revenue 430-10 Overall 440 Commitments 440-10 Overall 450 Contingencies 450-10 Overall 450-20 Loss Contingencies 450-30 Gain Contingencies 460 Guarantees 460-10 Overall 470 Debt 470-10 Overall 470-20 Debt with Conversion and Other Options 470-30 Participating Mortgage Loans 470-40 Product Financing Arrangements 470-50 Modifications and Extinguishments 470-60 Troubled Debt Restructurings by Debtors 480 Distinguishing Liabilities from Equity 480-10 Overall 505 Equity 505-10 Overall 505-20 Stock Dividends and Stock Splits 505-30 Treasury Stock 505-50 Equity-Based Payments to Non-Employees 505-60 Spin-offs and Reverse Spin-offs 605 Revenue Recognition 605-10 Overall 605-15 Products 605-20 Services 605-25 Multiple-Element Arrangements 605-28 Milestone Method 605-30 Rights to Use 605-35 Construction-Type and Production-Type Contracts 605-40 Gains and Losses 605-45 Principal-Agent Considerations 605-50 Customer Payments and Incentives 606 Revenue from Contracts with Customers 606-10 Overall1 610 Other Income 610-10 Overall1 610-20 Gains and Losses from the Derecognition of Nonfinancial Assets 610-30 Gains and Losses on Involuntary Conversions 705 Cost of Sales and Services 705-10 Overall 705-20 Accounting for Consideration Received...
