Wiley GAAP 2013: Interpretation and Application of Generally Accepted Accounting Principles

PREFACE

Wiley GAAP 2013: Interpretation and Application provides analytical explanations and copious illustrations of all current generally accepted accounting principles. The book integrates principles promulgated by the FASB in its Accounting Standards Codification.™

With the completion and public release of the FASB’s codification project, virtually all formerly promulgated and still-extant US GAAP was superseded by a unified, codified set of standards. All such guidance is presented in a single, integrated set of materials, and former individual standards, interpretations, and other requirements have been withdrawn. This completely integrates the Accounting Standards Codification (ASC) references into the Wiley GAAP reference work that is now in its 29th annual edition.

The principal intended audiences for the book are the financial statement preparers and public practitioners, 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 bases for the ...