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Wiley GAAP 2008 by Colorado Steven M. Bragg Englewood, Ralph Nach American Express Tax and Business Inc., Barry J. Epstein

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Preface

GAAP: Interpretation and Application provides analytical explanations and copious illustrations of all current generally accepted accounting principles. The book integrates principles promulgated by all the relevant standard‐setting bodies—the FASB, including its Emerging Issues Task Force's consensus summaries and discussion issues, and the AICPA's Accounting Standards Executive Committee (AcSEC) These materials are synthesized into a user‐oriented topical format, eliminating the need for readers to first be knowledgeable about the names or numbers of the salient professional standards.

The principal intended audience for the book is the practitioner, with the primary objective being to assist in resolving the myriad practical problems faced in applying GAAP. Accordingly, meaningful, realistic examples abound, guiding users in the application of GAAP to complex fact situations that must be dealt with in the real world practice of accounting In addition to this emphasis, a major strength of the book is that it does explain the theory of GAAP in sufficient detail to serve as a valuable adjunct to accounting textbooks. Much more than merely a reiteration of currently promulgated GAAP, it provides the user with the underlying conceptual basis for the rules, to facilitate the process of reasoning by analogy that is so necessary in dealing with the complicated, fast‐changing world of commercial arrangements and transaction structures. It is based on the authors' belief that ...

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