GAAP 2003

The most practical, authoritative guide to GAAP

Amidst a national parade of corporate scandals, accounting professionals require a timely, rock-solid resource in order to instill clients and investors with the confidence they have come to expect. Wiley GAAP 2003 delivers the most recent developments and analysis of all generally accepted accounting principles (GAAP), restating the original, highly-technical pronouncements in easy-to-understand terms and providing battle-tested implementation guidance. Unlike other guides, Wiley GAAP offers complete coverage of Levels A, B, and C GAAP in a single volume, including EITF issues that have not yet been reduced to consensus as well as EITF Appendix D discussion matters. Wiley GAAP 2003 contains a host of completely updated features, such as:

• A streamlined format that helps readers find what they need to know quickly
• In-depth coverage and copious examples of the latest SFASs: asset retirement obligations (SFAS 143), asset impairment (SFAS 144), accounting for goodwill and other intangibles (SFAS 142), and transfers of financial assets (SFAS 140)
• Detailed coverage of important, current FASB and AcSEC projects, such as liabilities versus equity and property, plant, and equipment
• Expanded discussions of hot topics, such as special purpose entities, pro forma earnings, and revenue recognition issues
• Real-world examples and comprehensive analysis of complex areas like hedging, consolidated reporting, derivatives, income taxes, leases, and segment reporting
• A chapter on special revenue recognition areas
• An authoritative financial statement disclosure checklist
• An appendix on International vs. U.S. Accounting Standards

Featuring numerous real-world examples, illustrations, and helpful practice hints that are extremely user friendly, Wiley GAAP 2003 is designed with the needs of the reader in mind. Covering the entire GAAP hierarchy, Wiley GAAP addresses all effective pronouncements, including:

• FASB Interpretations
• FASB Technical Bulletins
• FASB Statements of Financial Accounting Concepts
• FASB Statements of Financial Accounting Standards (SFASs)
• Consensus Opinions of the Emerging Issues Task Force of the FASB
• AICPA Statements of Position
• Accounting Research Bulletins
• Accounting Principles Board Opinions
• AICPA Audit and Accounting Guides

As clients demand accounting procedures they can trust, so accountants require up-to-date reference materials they know they can depend on. More than any other resource, Wiley GAAP 2003 provides the indispensable tools for the accounting professional.

Contributors : Barry J. Epstein; Ralph Nach; Susan Weiss Budak

Contents

• Researching GAAP Problems
• Balance Sheet
• Statements of Income and Comprehensive Income
• Statement of Cash Flows
• Cash, Receivables, and Prepaid Expenses
• Short-Term Investments and Financial Instruments
• Inventory
• Revenue Recognition-Evolving Principles and Specialized Applications
• Long-Lived Assets
• Investments
• Business Combinations and Consolidated Financial Statements
• Current Liabilities and Contingencies
• Long-Term Debt
• Leases
• Income Taxes
• Pensions
• Stockholders' Equity
• Earnings Per Share
• Interim and Segment Reporting
• Accounting Changes and Correction of Errors
• Foreign Currency
• Personal Financial Statements
• Specialized Industry GAAP

• Appendices
• Index