Outlines of Accounting Pronouncements

Study Program for the Accounting Pronouncements

As of July 1, 2009, the FASB Accounting Standards Codification is the only source of US GAAP, other than SEC literature. Older pronouncements, such as the Accounting Research Bulletins, Accounting Principles Board Opinions, and FASB Statements, are no longer considered authoritative. Outlines of the pronouncements that were used in the Codification are included in this edition to assist the CPA candidate in his/her transition to the Codification. The outlines of these previous sources of accounting literature are presented by Accounting Standard Codification (ASC) Topic order (e.g., ASC Topic 205, 210, 505), with cross-references to their location in the new ASC. For standards with the same ASC Topic cross-reference (e.g., both APB 6 and SFAS 129 relate to ASC Topic 505), the earlier issued standard is presented first. For standards relating to multiple ASC Topic areas (e.g., SFAS 6 is related to ASC Topic 210 and ASC Topic 470), the entire standard is presented in both locations. A cross references list by standard type precedes the outlines.

Study through the outlines as you are referred to them in the modules throughout the text. Note that on the CPA exam, it is not necessary to know the Codification Topic numbers or pronouncement numbers; however, being familiar with the numbering system will greatly aid the candidate in the research component of the FAR exam. Also, note that it is not necessary ...

Get Wiley CPAexcel Exam Review 2014 Study Guide, Financial Accounting and Reporting now with the O’Reilly learning platform.

O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.