Wiley GAAP 2004 : Interpretation and Application of Generally Accepted Accounting Principles

by Patrick R. Delaney ( ; ); Barry J. Epstein ( ; ); Ralph Nach ( ; ); Susan Weiss Budak ( ; )

• ISBN13: 9780471453925
• ISBN10: 0471453927
• Format: Paperback
• Copyright: 2003-01-01
• Publisher: WILEY

Summary

An essential guide for all corporate and public accountants, CPA candidates, financial managers, and accounting students Wiley GAAP 2004 is a thorough study and analysis of all generally accepted accounting principles (GAAP) set forth in the pronouncements of the FASB (Financial Accounting Standards Board) and its predecessor agencies. All pronouncements are explained with relevant terminology and practice-oriented real-world examples. Each chapter is composed of a discussion of perspectives and issue, sources of GAAP, and a definition of terms, concepts, rules, and examples. Patrick R. Delaney was the Arthur Andersen LLP Alumni Professor of Accountancy and Chair of the Department of Accountancy at Northern Illinois University. Barry J. Epstein is a partner in the Chicago-based firm Gleeson, Sklar, Sawyers Cumpata, LLP. Ralph Nach is a Managing Director with the Chicago office of American Express Tax Business Services, Inc. Susan Weiss Budak is a consultant working primarily with the FASB, AICPA, and NCES.

Table of Contents

Authoritative Accounting Pronouncements	x
Researching GAAP Problems	1	(34)
Appendix: Conceptual Framework	23	(12)
Balance Sheet	35	(24)
Statements of Income and Comprehensive Income	59	(36)
Statement of Cash Flows	95	(16)
Cash, Receivables, and Prepaid Expenses	111	(39)
Short-Term Investments and Financial Instruments	150	(62)
Inventory	212	(30)
Appendix A: LIFO Conformity Rule	238	(1)
Appendix B: Task Force on LIFO Inventory	239	(3)
Revenue Recognition---Evolving Principles and Specialized Applications	242	(71)
Revenue Recognition---General Principles	243	(7)
Long-Term Construction Contracts	250	(12)
Service Revenues	262	(5)
Sales When Collection Is Uncertain	267	(7)
Revenue Recognition When Right of Return Exists	274	(3)
Profit Recognition on Real Estate Sales	277	(15)
Real Estate Operations	292	(8)
Franchising: Accounting by Franchisors	300	(3)
Other Special Accounting and Reporting Issues	303	(10)
Long-Lived Assets	313	(65)
Investments	378	(48)
Business Combinations and Consolidated Financial Statements	426	(85)
Current Liabilities and Contingencies	511	(16)
Long-Term Debt	527	(39)
Leases	566	(64)
Appendix: Leveraged Leases	625	(5)
Income Taxes	630	(46)
Appendix A: Accounting for Income Taxes in Interim Periods	664	(10)
Appendix B: Schedule of Common Permanent and Temporary Differences	674	(2)
Pensions and Other Postretirement Benefits	676	(30)
Stockholders' Equity	706	(69)
Appendix: Financial Statement Presentation	776
Earnings Per Share	775	(20)
Appendix: Comprehensive Example	792	(3)
Interim and Segment Reporting	795	(16)
Interim Reporting	795	(6)
Segment Reporting	801	(8)
Appendix: Comprehensive Illustration	809	(2)
Accounting Changes and Correction of Errors	811	(21)
Appendix: Accounting Changes in Interim Periods	828	(4)
Foreign Currency	832	(26)
Appendix: Accounts to Be Remeasured Using Historical Exchange Rates	857	(1)
Personal Financial Statements	858	(7)
Appendix: Hypothetical Set of Personal Financial Statements	862	(3)
Specialized Industry GAAP	865	(108)
Banking and Thrift	867	(20)
Benefit Plans, Including Pension Funds	887	(9)
Broadcasting	896	(4)
Cable Television	900	(2)
Computer Software Developers	902	(9)
Finance Companies	911	(4)
Government Contractors	915	(2)
Insurance	917	(10)
Investment Companies	927	(5)
Mortgage Banking	932	(6)
Motion Pictures	938	(10)
Not-for-Profit Organizations	948	(14)
Oil and Gas Producers	962	(2)
Recording and Music	964	(2)
Regulated Operations	966	(4)
Title Plant	970	(3)
Appendix A: Disclosure Checklist	973	(37)
Appendix B: International vs. US Accounting Standards	1010	(77)
Index	1087