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.

The complete, cross-referenced GAAP guide, with illustrations, explanations, and examplesWiley 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 fieldThis 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.

Preface ixAbout the Author xiiiCodification Taxonomy xv1 ASC 105 Generally Accepted Accounting Principles 12 ASC 205 Presentation of Financial Statements 253 ASC 210 Balance Sheet 334 ASC 215 Statement of Shareholder Equity 475 ASC 220 Comprehensive Income 496 ASC 225 Income Statement 577 ASC 230 Statement of Cash Flows 698 ASC 235 Notes to Financial Statements 899 ASC 250 Accounting Changes and Error Corrections 9510 ASC 255 Changing Prices 12311 ASC 260 Earnings Per Share 12712 ASC 270 Interim Reporting 15913 ASC 272 Limited Liability Entities 17314 ASC 274 Personal Financial Statements 17715 ASC 275 Risks and Uncertainties 18516 ASC 280 Segment Reporting 19117 ASC 305 Cash and Cash Equivalents 20318 ASC 310 Receivables 20719 ASC 320 Investments--Debt and Equity Securities 24320 ASC 323 Investments--Equity Method and Joint Ventures 26921 ASC 325 Investments--Other 30322 ASC 330 Inventory 31323 ASC 340 Other Assets and Deferred Costs 35324 ASC 350 Intangibles--Goodwill and Other 36125 ASC 360 Property, Plant, and Equipment 38326 ASC 405 Liabilities 42727 ASC 410 Asset Retirement and Environmental Obligations 43128 ASC 420 Exit or Disposal Cost Obligations 44529 ASC 430 Deferred Revenue 45130 ASC 440 Commitments 45331 ASC 450 Contingencies 45732 ASC 460 Guarantees 46533 ASC 470 Debt 47734 ASC 480 Distinguishing Liabilities From Equity 51535 ASC 505 Equity 53336 ASC 605 Revenue Recognition 561Appendix--Overview of ASC 60637 ASC 705 Cost of Sales and Services 62938 ASC 710 Compensation--General 63139 ASC 712 Compensation--Nonretirement Postemployment Benefits 63740 ASC 715 Compensation--Retirement Benefits 63941 ASC 718 Compensation--Stock Compensation 68742 ASC 720 Other Expenses 72343 ASC 730 Research and Development 72944 ASC 740 Income Taxes 73545 ASC 805 Business Combinations 78746 ASC 808 Collaborative Arrangements 83547 ASC 810 Consolidations 84548 ASC 815 Derivatives and Hedging 88749 ASC 820 Fair Value Measurements 94550 ASC 825 Financial Instruments 96751 ASC 830 Foreign Currency Matters 97552 ASC 835 Interest 100353 ASC 840 Leases 102354 ASC 845 Nonmonetary Transactions 108755 ASC 850 Related-Party Disclosures 110156 ASC 852 Reorganizations 110357 ASC 853 Service Concession Arrangements 110758 ASC 855 Subsequent Events 110959 ASC 860 Transfers and Servicing 111360 ASC 900s Specialized Industry GAAP 1151Appendix A: Definitions of Terms 1283Appendix B: Disclosure Checklist for Commercial Businesses 1301Index 1401