Wiley GAAP: Practical Implementation Guide and Workbook

by Barry J. Epstein, Nadira M. Saafir

Overview

The only practitioners' handbook providing intuitive, easy-to-understand, yet comprehensive guidance for the practical application of GAAP

Enhance your comprehension for the application of GAAP to every situation you may encounter in practice. Wiley GAAP: Practical Implementation Guide and Workbook offers clear, easily applied guidance for application of GAAP standards and interpretations to your real-time situations.

Take a look inside and you'll find:

• Straightforward guidance on interpretation and application of the overwhelming and voluminous GAAP standards
• Detailed explanations supplemented with examples, case studies, solutions, and illustrations for enhanced understanding of GAAP
• Newly issued accounting pronouncements and information on the GAAP codification

Find everything you need to know to apply GAAP standards in Wiley GAAP: Practical Implementation Guide and Workbook. It's the only tool you'll use to ensure your company gets GAAP done right.

Product Details

ISBN-13:	9780470645888
Publisher:	Wiley
Publication date:	06/24/2010
Sold by:	JOHN WILEY & SONS
Format:	eBook
Pages:	384
File size:	6 MB

About the Author

BARRY J. EPSTEIN, PhD, CPA, the lead coauthor of Wiley GAAP and Wiley IFRS, is a partner with Russell Novak & Company LLP in Chicago. His work is centered on technical consultations on GAAP, IFRS, and auditing standards, and he serves as a consulting and testifying expert on commercial litigation, accountants' liability, and white-collar criminal matters.

NADIRA M. SAAFIR, CPA, is a senior litigation consultant with Chicago-based Russell Novak & Company LLP. Prior to joining the firm in 2009, she served as a senior auditor at Deloitte, where she gained an extensive knowledge base regarding the theory and practical application of Generally Accepted Accounting Principles and International Financial Reporting Standards, with particular emphasis on accounting and auditing for complex financial instruments.

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Table of Contents

About the Authors vii

Chapter 1 Researching GAAP 1

Chapter 2 Statement of Financial Position (ASC 210) 25

Chapter 3 Income Statement (ASC 225) 31

Chapter 4 Statement of Cash Flows (ASC 230) 37

Chapter 5 Accounting Policies, Changes in Accounting Estimates and Errors (ASC 250) 43

Chapter 6 Fair Value (ASC 820) 53

Chapter 7 Cash, Receivables, and Prepaid Expenses (ASC 305, 310, 860) 67

Chapter 8 Inventory (ASC 330) 81

Chapter 9 Revenue Recognition (ASC 605) 99

Chapter 10 Property, Plant, and Equipment (ASC 360) 107

Chapter 11 Financial Instruments (ASC 825) 115

Chapter 12 Equity Method Investments and Joint Ventures (ASC 323) 155

Chapter 13 Intangible Assets (ASC 350) 169

Chapter 14 Consolidated and Separate Financial

Statements (ASC 810) 183

Chapter 15 Business Combinations (ASC 805) 191

Chapter 16 Income Taxes (ASC 740) 207

Chapter 17 Current Liabilities and Contingencies (Various Sections under the ASC) 227

Chapter 18 Long-Term Liabilities (ASC 480 and 835) 249

Chapter 19 Leases (ASC 840) 261

Chapter 20 Segment Reporting (ASC 280) 271

Chapter 21 Interim Reporting (ASC 270) 277

Chapter 22 Foreign Currency (ASC 830) 283

Chapter 23 Earnings Per Share (ASC 260) 297

Chapter 24 Employee Benefits (ASC 715) 305

Chapter 25 Accounting and Reporting by Retirement Benefit Plans (ASC 960 and 962) 323

Chapter 26 Stockholders’ Equity (ASC 505) 331

Chapter 27 Personal Financial Statements (ASC 274) 345

Answers for Multiple-Choice Questions 353

Index 357