Summary

For accountants, determining the correct wording and presentation formats for disclosures is a time-consuming effort. Financial statement preparers look for examples that they can tailor to their own statements. This book provides users with a complete set of tools to prepare their statements. Formatted in accordance to the FASB Codification schema, this book covers Presentation, Assets, Liabilities, Equity, Revenue, Expenses, and Broad Transactions. Its arrangement enables financial statement preparers and auditors to easily perform additional research and present transparent financial information.

Author Biography

Joanne Flood, CPA (New York, NY), is author of Wiley GAAP 2013 and Wiley Financial Statements Disclosure Checklist Online. Her experience includes 20 years at the AICPA managing, developing, and writing accounting and auditing training materials in a wide variety of media print, video and audio. She pioneered the AICPA’s e-learning product line and developed the AICPA online IFRS Certificate Program. While in public accounting, she worked on major clients in retail, manufacturing, and finance and on small business clients in construction, manufacturing, and professional services.
Teresa Anderson, CPA, CMA, is a consultant on accounting technical topics for continuing professional education, CPA examination review materials and college courses in accounting. She was a Technical Manager for the AICPA in the Professional Development area where she developed custom training courses for corporate clients and was the Content Lead for the IFRS Certificate Program. She has worked as content manager for two CPA review courses. She taught graduate and undergraduate financial accounting courses for 15 years, as well as decision making theory in an executive MBA program for three years. Teresa received her Masters of Professional Accountancy and BBA degree in Economics from Georgia State University.

Preface

About the Author

1: ASC 105 Generally Accepted Accouting Principles

2: ASC 205 PRESENTATION OF FINANCIAL STATEMENTS

3: ASC 210 BALANCE SHEET

4: ASC 215 Statement of Shareholder Equity

5: ASC 220 INCOME STATEMENT – REPORTING COMPREHENSIVE INCOME

6: ASC 230 STATEMENT OF CASH FLOWS

7: ASC 235 Notes to financial statements

8: ASC 250 ACCOUNTING CHANGES AND ERROR CORRECTIONS

9: ASC 255 CHANGING PRICES

10: ASC 260 EARNINGS PER SHARE

11: ASC 270 INTERIM REPORTING

12: ASC 272 LIMITED LIABILITY ENTITIES

13: ASC 274 PERSONAL FINANCIAL STATEMENTS

14: ASC 275 risks and uncertainties

15: ASC 280 SEGMENT REPORTING

16: ASC 310 RECEIVABLES

17: ASC 320 INVESTMENTS—DEBT SECURITIES

18: ASC 321 INVESTMENTS— EQUITY SECURITIES

19: ASC 323 INVESTMENTS— EQUITY METHOD AND JOINT VENTURES

20: ASC 325 INVESTMENTS—OTHER

21: ASC 326 FINANCIAL INSTRUMENTS CREDIT LOSSES

22: ASC 330 INVENTORY

23: ASC 340 OTHER ASSETS AND DEFERRED COSTS

24: ASC 350 INTANGIBLES— GOODWILL AND OTHER

25: ASC 360 PROPERTY, PLANT, AND EQUIPMENT

26: ASC 405 LIABILITIES

27: ASC 410 ASSET RETIREMENT AND ENVIRONMENTAL OBLIGATIONS

28: ASC 420 EXIT OR DISPOSAL COST OBLIGATIONS

29: ASC 430 DEFERRED REVENUE AND CONTRACT LIABILITIES

30: ASC 440 COMMITMENTS

31: ASC 450 CONTINGENCIES

32: ASC 460 GUARANTEES

33: ASC 470 DEBT

34: ASC 480 DISTINGUISHING LIABILITIES FROM EQUITY

35: ASC 505, EQUITY

36: ASC 605 REVENUE RECOGNITION

37: ASC 606 REVENUE FROM CONTRACTS WITH CUSTOMERS

38: ASC 610 OTHER INCOME

39: ASC 705 COST OF SALES AND SERVICES

40: ASC 710 COMPENSATION— GENERAL

41: ASC 712 COMPENSATION— NONRETIREMENT POST-EMPLOYMENT BENEFITS

42: ASC 715 COMPENSATION— RETIREMENT BENEFITS

43: ASC 718 COMPENSATION— STOCK COMPENSATION

44: ASC 720 OTHER EXPENSES

45: ASC 730 RESEARCH AND DEVELOPMENT

46: ASC 740 INCOME TAXES

47: ASC 805 BUSINESS

COMBINATIONS

48: ASC 808 COLLABORATIVE ARRANGEMENTS

49: ASC 810 CONSOLIDATIONS

50: ASC 815 DERIVATIVES AND HEDGING

51: ASC 820 FAIR VALUE MEASUREMENTS

52: ASC 825 FINANCIAL INSTRUMENTS

53: ASC 830 FOREIGN CURRENCY MATTERS

54: ASC 835 INTEREST

55: ASC 840 LEASES

56: ASC 842 LEASES

57: ASC 845 NONMONETARY

58: ASC 848 REFERENCE RATE REFORM

59: ASC 850 RELATED-PARTY DISCLOSURES

60: ASC 852 REORGANIZATIONS

61: ASC 853 SERVICE CONCESSION ARRANGEMENTS

62: ASC 855 SUBSEQUENT EVENTS

63: ASC 860 TRANSFERS AND SERVICING

Index

Supplemental Materials

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