The most practical, authoritative guide to GAAP
Wiley GAAP 2018 contains complete coverage of the Financial Accounting Standards Board (FASB) Accounting Standards Codification® (Codification), the source of authoritative generally accepted accounting principles (GAAP). Wiley GAAP renders GAAP more understandable and accessible for research and has been designed to reduce the amount of time and effort needed to solve accounting research and implementation issues.
The 2018 edition reflects the new FASB guidance on:
- Revenue recognition
- Leases
- Business combinations
- Pensions
- Financial instruments
- And more than 17 other new FASB Accounting Standards Updates
Providing interpretive guidance, analytical explanations, graphic tools, and more than 300 real–world, examples and illustrations, this invaluable guide offers clear, user–friendly guidance on every ASC Topic in the Codification.
- Offers insight into the application of complex financial reporting rules
- Contains a detailed index for easy reference use
- Includes comprehensive cross–referencing to the FASB codification system, making it efficient for you to perform in–depth research
As a bonus, a comprehensive disclosure checklist, available online, offers practical guidance to preparing financial statements for commercial entities in accordance with GAAP. For easy reference and research, the checklist follows the order of the codification.
With easy–to–access information, this reliable resource offers complete coverage of the FASB Codification.
Table of Contents
Preface ix
About the Author xi
Codification Taxonomy xiii
1 ASC 105 Generally Accepted Accounting Principles 1
2 ASC 205 Presentation of Financial Statements 25
3 ASC 210 Balance Sheet 37
4 ASC 215 Statement of Shareholder Equity 53
5 ASC 220 Comprehensive Income 55
6 ASC 225 Income Statement 65
7 ASC 230 Statement of Cash Flows 73
8 ASC 235 Notes to Financial Statements 97
9 ASC 250 Accounting Changes and Error Corrections 103
10 ASC 255 Changing Prices 125
11 ASC 260 Earnings Per Share 129
12 ASC 270 Interim Reporting 161
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 201
18 ASC 310 Receivables 203
19 ASC 320 Investments Debt and Equity Securities 245
20 ASC 320 Investments Debt Securities 271
21 ASC 321 Investments Equity Securities 291
22 ASC 323 Investments Equity Method and Joint Ventures 297
23 ASC 325 Investments Other 333
24 ASC 326 Financial Instruments Credit Losses 341
25 ASC 330 Inventory 351
26 ASC 340 Other Assets and Deferred Costs 391
27 ASC 350 Intangibles Goodwill and Other 405
28 ASC 360 Property, Plant, and Equipment 433
29 ASC 405 Liabilities 479
30 ASC 410 Asset Retirement and Environmental Obligations 485
31 ASC 420 Exit or Disposal Cost Obligations 501
32 ASC 430 Deferred Revenue 507
33 ASC 440 Commitments 509
34 ASC 450 Contingencies 513
35 ASC 460 Guarantees 521
36 ASC 470 Debt 533
37 ASC 480 Distinguishing Liabilities from Equity 569
38 ASC 505 Equity 585
39 ASC 605 Revenue Recognition 613
40 ASC 606 Revenue from Contracts with Customers 661
41 ASC 610 Other Income 725
42 ASC 705 Cost of Sales and Services 729
43 ASC 710 Compensation General 731
44 ASC 712 Compensation Nonretirement Postemployment Benefits 737
45 ASC 715 Compensation Retirement Benefits 739
46 ASC 718 Compensation Stock Compensation 787
47 ASC 720 Other Expenses 821
48 ASC 730 Research and Development 829
49 ASC 740 Income Taxes 835
50 ASC 805 Business Combinations 889
51 ASC 808 Collaborative Arrangements 939
52 ASC 810 Consolidations 949
53 ASC 815 Derivatives and Hedging 989
54 ASC 820 Fair Value Measurements 1051
55 ASC 825 Financial Instruments 1071
56 ASC 830 Foreign Currency Matters 1077
57 ASC 835 Interest 1097
58 ASC 840 Leases 1117
59 ASC 842 Leases 1183
60 ASC 845 Nonmonetary Transactions 1191
61 ASC 850 Related–Party Disclosures 1205
62 ASC 852 Reorganizations 1207
63 ASC 853 Service Concession Arrangements 1211
64 ASC 855 Subsequent Events 1213
65 ASC 860 Transfers and Servicing 1215
66 ASC 900s Specialized Industry GAAP 1249
Appendix A: Definitions of Terms 1379
Appendix B: Disclosure and Presentation Checklist for Commercial Businesses 1407
Index 1409
