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Wiley GAAP 2015: Interpretation and Application of Generally Accepted Accounting Principles 2015

ISBN: 978-1-118-94506-3
1512 pages
November 2014
Wiley GAAP 2015: Interpretation and Application of Generally Accepted Accounting Principles 2015 (1118945069) cover image

Description

The quick, complete, cross-referenced GAAP guide, with illustrations, explanations, and examples

Wiley GAAP 2015 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 more examples and illustrations than any other GAAP reference, 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, user-friendly 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 quickly and easily
  • 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 needed information through the point-and-click index and Table of Contents. Busy professionals need to get up to speed quickly without sacrificing a solid understanding, and Wiley GAAP 2015 is the essential user-friendly reference.

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Table of Contents

Preface vii

About the Author xi

Codification Taxonomy xiii

1 ASC 105 Generally Accepted Accounting Principles 1

2 ASC 205 Presentation of Financial Statements 29

3 ASC 210 Balance Sheet 45

4 ASC 215 Statement of Shareholder Equity 61

5 ASC 220 Comprehensive Income 63

6 ASC 225 Income Statement 71

7 ASC 230 Statement of Cash Flows 83

8 ASC 235 Notes to Financial Statements 103

9 ASC 250 Accounting Changes and Error Corrections 109

10 ASC 255 Changing Prices 137

11 ASC 260 Earnings Per Share 141

12 ASC 270 Interim Reporting 171

13 ASC 272 Limited Liability Entities 187

14 ASC 274 Personal Financial Statements 191

15 ASC 275 Risks and Uncertainties 199

16 ASC 280 Segment Reporting 205

17 ASC 305 Cash and Cash Equivalents 217

18 ASC 310 Receivables 221

19 ASC 320 Investments—Debt and Equity Securities 257

20 ASC 323 Investments—Equity Method and Joint Ventures 283

21 ASC 325 Investments—Other 317

22 ASC 330 Inventory 329

23 ASC 340 Other Assets and Deferred Costs 367

24 ASC 350 Intangibles—Goodwill and Other 375

25 ASC 360 Property, Plant, and Equipment 399

26 ASC 405 Liabilities 445

27 ASC 410 Asset Retirement and Environmental Obligations 449

28 ASC 420 Exit or Disposal Cost Obligations 465

29 ASC 430 Deferred Revenue 471

30 ASC 440 Commitments 473

31 ASC 450 Contingencies 477

32 ASC 460 Guarantees 485

33 ASC 470 Debt 499

34 ASC 480 Distinguishing Liabilities From Equity 539

35 ASC 505 Equity 555

36 ASC 605 Revenue Recognition 587

37 ASC 705 Cost of Sales and Services 645

38 ASC 710 Compensation—General 647

39 ASC 712 Compensation—Nonretirement Postemployment Benefits 653

40 ASC 715 Compensation—Retirement Benefits 655

41 ASC 718 Compensation—Stock Compensation 707

42 ASC 720 Other Expenses 745

43 ASC 730 Research and Development 751

44 ASC 740 Income Taxes 757

45 ASC 805 Business Combinations 811

46 ASC 808 Collaborative Arrangements 859

47 ASC 810 Consolidations 869

48 ASC 815 Derivatives and Hedging 901

49 ASC 820 Fair Value Measurements 961

50 ASC 825 Financial Instruments 985

51 ASC 830 Foreign Currency Matters 995

52 ASC 835 Interest 1023

53 ASC 840 Leases 1041

54 ASC 845 Nonmonetary Transactions 1115

55 ASC 850 Related-Party Disclosures 1127

56 ASC 852 Reorganizations 1129

57 ASC 853 Service Concession Arrangements 1135

58 ASC 855 Subsequent Events 1139

59 ASC 860 Transfers and Servicing 1143

60 ASC 900s Specialized Industry GAAP 1181

Appendix Disclosure Checklist for Commercial Businesses 1317

Index 1419

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