Wiley GAAP: Financial Statement Disclosure Manual

Wiley GAAP: Financial Statement Disclosure Manual

by Joanne M. Flood
Released April 2021
Publisher(s): Wiley
ISBN: 9781118572085

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Book description

Streamline financial statement preparation with this cross-referenced guide

Financial Statement Disclosures Manual is a natural complement to Wiley GAAP, providing a complete set of tools for statement preparation. This useful reference is formatted in accordance with FASB Accounting Standards Codification® (ASC) schema, with information delineated as Presentation, Assets, Liabilities, Equity, Revenue, Expenses, and Broad Transactions. When used with other Wiley GAAP resources, this arrangement helps users perform additional research and easily find more detailed information on requirements, with disclosures referenced to FASB's ASC. Explicit examples enable easy customization, streamlining the statement preparation process and potentially improving the effectiveness of disclosures with clear presentation of information that is most important to users.

Determining the correct wording and presentation formats for disclosures is a time consuming effort. Standards are continually updated, and the latest changes to revenue recognition impact virtually all financial statements. This book is a guide to enhanced disclosure as standardized by FASB, and works in conjunction with other Wiley GAAP products to provide a complete professional reference.

  • Find specific GAAP codification and explanations quickly and easily
  • Get up to speed on the latest developments and updates
  • Follow references to relevant content in Wiley GAAP and the Disclosure Checklist
  • Study expertly-prepared examples to understand GAAP applications

Enhanced disclosure requirements have come about in response to accounting scandals, the proliferation of complicated instruments, and the pressure toward transparency. Keeping abreast of the latest developments – and their applications and requirements – is an essential but time-consuming part of the accountant's role. Financial Statement Disclosures Manual simplifies statement preparation by providing complete disclosures information, cross-referenced to relevant GAAP information and tools.

Table of contents

  1. COVER
  2. TITLE PAGE
  3. COPYRIGHT
  4. PREFACE
  5. ABOUT THE AUTHOR
  6. 1 ASC 105 GENERALLY ACCEPTED ACCOUNTING PRINCIPLES
    1. AUTHORITATIVE LITERATURE
    2. DISCLOSURE AND PRESENTATION REQUIREMENTS
  7. 2 ASC 205 PRESENTATION OF FINANCIAL STATEMENTS
    1. AUTHORITATIVE LITERATURE
    2. PRACTICE ALERT
    3. DISCLOSURES AND PRESENTATION REQUIREMENTS
    4. PRESENTATION AND DISCLOSURE EXAMPLES
  8. 3 ASC 210 BALANCE SHEET
    1. AUTHORITATIVE LITERATURE
    2. PRACTICE ALERT
    3. DISCLOSURE AND PRESENTATION REQUIREMENTS
    4. PRESENTATION AND DISCLOSURE EXAMPLES
    5. NOTES
  9. 4 ASC 215 STATEMENT OF SHAREHOLDER EQUITY
    1. AUTHORITATIVE LITERATURE
  10. 5 ASC 220 INCOME STATEMENT—REPORTING COMPREHENSIVE INCOME
    1. AUTHORITATIVE LITERATURE
    2. PRACTICE ALERT
    3. DISCLOSURE AND PRESENTATION REQUIREMENTS
    4. DISCLOSURE AND PRESENTATION EXAMPLES
    5. NOTES
  11. 6 ASC 230, STATEMENT OF CASH FLOWS
    1. AUTHORITATIVE LITERATURE
    2. PRACTICE ALERT
    3. PRESENTATION AND DISCLOSURE REQUIREMENTS
    4. PRESENTATION AND DISCLOSURE EXAMPLES
  12. 7 ASC 235 NOTES TO FINANCIAL STATEMENTS
    1. AUTHORITATIVE LITERATURE
    2. PRACTICE ALERT
    3. DISCLOSURE REQUIREMENTS2
    4. DISCLOSURE EXAMPLES
    5. NOTES
  13. 8 ASC 250 ACCOUNTING CHANGES AND ERROR CORRECTIONS
    1. AUTHORITATIVE LITERATURE
    2. PRACTICE ALERT
    3. DISCLOSURE AND PRESENTATION REQUIREMENTS
    4. EXAMPLE DISCLOSURES
  14. 9 ASC 255 CHANGING PRICES
    1. AUTHORITATIVE LITERATURE
    2. DISCLOSURE AND PRESENTATION REQUIREMENTS
    3. EXAMPLE PRESENTATION AND DISCLOSURE
  15. 10 ASC 260 EARNINGS PER SHARE
    1. AUTHORITATIVE LITERATURE
    2. PRACTICE ALERT
    3. PRESENTATION AND DISCLOSURE REQUIREMENTS
    4. COMPREHENSIVE EXAMPLE
    5. PRESENTATION AND DISCLOSURE EXAMPLES
  16. 11 ASC 270 INTERIM REPORTING
    1. AUTHORITATIVE LITERATURE
    2. PRESENTATION AND DISCLOSURE REQUIREMENTS
    3. REQUIREMENTS APPLICABLE TO ALL REPORTING ENTITIES
    4. REQUIREMENTS APPLICABLE TO PUBLIC REPORTING ENTITIES
    5. PRESENTATION AND DISCLOSURE EXAMPLES
  17. 12 ASC 272 LIMITED LIABILITY ENTITIES
    1. AUTHORITATIVE LITERATURE
    2. DISCLOSURE AND PRESENTATION REQUIREMENTS
    3. DISCLOSURE EXAMPLES
  18. 13 ASC 274 PERSONAL FINANCIAL STATEMENTS
    1. AUTHORITATIVE LITERATURE
    2. DISCLOSURE AND PRESENTATION REQUIREMENTS
    3. PRESENTATION AND DISCLOSURE EXAMPLE
  19. 14 ASC 275 RISKS AND UNCERTAINTIES
    1. AUTHORITATIVE LITERATURE
    2. PRACTICE ALERT
    3. DISCLOSURE REQUIREMENTS
    4. DISCLOSURE EXAMPLES
  20. 15 ASC 280 SEGMENT REPORTING
    1. AUTHORITATIVE LITERATURE
    2. DISCLOSURE AND PRESENTATION REQUIREMENTS
    3. EXAMPLE PRESENTATIONS AND DISCLOSURES
  21. 16 ASC 310 RECEIVABLES
    1. TECHNICAL ALERTS
    2. AUTHORITATIVE LITERATURE
    3. PRACTICE ALERT
    4. PRESENTATION AND DISCLOSURE REQUIREMENTS
    5. PRESENTATION AND DISCLOSURE EXAMPLES
    6. NOTES
  22. 17 ASC 320 INVESTMENTS—DEBT SECURITIES
    1. TECHNICAL ALERTS
    2. AUTHORITATIVE LITERATURE
    3. PRACTICE ALERT
    4. PRESENTATION AND DISCLOSURE REQUIREMENTS
    5. PRESENTATION AND DISCLOSURE EXAMPLES
    6. NOTES
  23. 18 ASC 321 INVESTMENTS—EQUITY SECURITIES
    1. AUTHORITATIVE LITERATURE
    2. PRESENTATION AND DISCLOSURE REQUIREMENTS
    3. PRESENTATION AND DISCLOSURE EXAMPLES
  24. 19 ASC 323 INVESTMENTS—EQUITY METHOD AND JOINT VENTURES
    1. TECHNICAL ALERT
    2. AUTHORITATIVE LITERATURE
    3. PRESENTATION AND DISCLOSURE REQUIREMENTS
    4. PRESENTATION AND DISCLOSURE EXAMPLES
  25. 20 ASC 325 INVESTMENTS—OTHER
    1. TECHNICAL ALERT
    2. AUTHORITATIVE LITERATURE
    3. PRESENTATION AND DISCLOSURE REQUIREMENTS
    4. PRESENTATION AND DISCLOSURE EXAMPLES
    5. NOTES
  26. 21 ASC 326 FINANCIAL INSTRUMENTS—CREDIT LOSSES
    1. TECHNICAL ALERTS
    2. AUTHORITATIVE LITERATURE
    3. PRESENTATION AND DISCLOSURE REQUIREMENTS
    4. PRESENTATION AND DISCLOSURE EXAMPLES
  27. 22 ASC 330 INVENTORY
    1. TECHNICAL ALERT
    2. AUTHORITATIVE LITERATURE
    3. PRACTICE ALERT
    4. PRESENTATION AND DISCLOSURE REQUIREMENTS
    5. PRESENTATION AND DISCLOSURE EXAMPLES
    6. NOTE
  28. 23 ASC 340 OTHER ASSETS AND DEFERRED COSTS
    1. AUTHORITATIVE LITERATURE
    2. PRACTICE ALERT
    3. PRESENTATION AND DISCLOSURE REQUIREMENTS
    4. PRESENTATION AND DISCLOSURE EXAMPLES
  29. 24 ASC 350 INTANGIBLES—GOODWILL AND OTHER
    1. TECHNICAL ALERT
    2. AUTHORITATIVE LITERATURE
    3. PRACTICE ALERT
    4. PRESENTATION AND DISCLOSURE REQUIREMENTS
    5. PRESENTATION AND DISCLOSURE EXAMPLES
    6. NOTES
  30. 25 ASC 360 PROPERTY, PLANT, AND EQUIPMENT
    1. ACCOUNTING REQUIREMENTS
    2. AUTHORITATIVE LITERATURE
    3. PRACTICE ALERT
    4. PRESENTATION AND DISCLOSURE REQUIREMENTS
    5. PRESENTATION AND DISCLOSURE EXAMPLES
  31. 26 ASC 405 LIABILITIES
    1. AUTHORITATIVE LITERATURE
    2. PRESENTATION AND DISCLOSURE REQUIREMENTS
    3. PRESENTATION AND DISCLOSURE EXAMPLES
  32. 27 ASC 410 ASSET RETIREMENT AND ENVIRONMENTAL OBLIGATIONS
    1. AUTHORITATIVE LITERATURE
    2. PRACTICE ALERT
    3. PRESENTATION AND DISCLOSURE REQUIREMENTS
    4. PRESENTATION AND DISCLOSURE EXAMPLES
  33. 28 ASC 420 EXIT OR DISPOSAL COST OBLIGATIONS
    1. AUTHORITATIVE LITERATURE
    2. PRACTICE ALERT
    3. PRESENTATION AND DISCLOSURE REQUIREMENTS
    4. PRESENTATION AND DISCLOSURE EXAMPLES
  34. 29 ASC 430 DEFERRED REVENUE AND CONTRACT LIABILITIES
  35. 30 ASC 440 COMMITMENTS
    1. AUTHORITATIVE LITERATURE
    2. PRACTICE ALERT
    3. DISCLOSURE REQUIREMENTS
    4. PRESENTATION AND DISCLOSURE EXAMPLES
  36. 31 ASC 450 CONTINGENCIES
    1. AUTHORITATIVE LITERATURE
    2. PRACTICE ALERT
    3. PRESENTATION AND DISCLOSURE REQUIREMENTS
    4. PRESENTATION AND DISCLOSURE EXAMPLES
    5. NOTE
  37. 32 ASC 460 GUARANTEES
    1. AUTHORITATIVE LITERATURE
    2. PRESENTATION AND DISCLOSURE REQUIREMENTS
    3. PRESENTATION AND DISCLOSURE EXAMPLES
    4. NOTES
  38. 33 ASC 470 DEBT
    1. AUTHORITATIVE LITERATURE
    2. PRACTICE ALERT
    3. PRESENTATION AND DISCLOSURE REQUIREMENTS
    4. PRESENTATION AND DISCLOSURE EXAMPLES
  39. 34 ASC 480 DISTINGUISHING LIABILITIES FROM EQUITY
    1. AUTHORITATIVE LITERATURE
    2. PRACTICE ALERT
    3. PRESENTATION AND DISCLOSURE REQUIREMENTS
    4. PRESENTATION AND DISCLOSURE EXAMPLES
  40. 35 ASC 505 EQUITY
    1. AUTHORITATIVE LITERATURE
    2. PRACTICE ALERT
    3. PRESENTATION AND DISCLOSURE REQUIREMENTS
    4. PRESENTATION AND DISCLOSURE EXAMPLES
    5. NOTE
  41. 36 ASC 605 REVENUE RECOGNITION
    1. AUTHORITATIVE LITERATURE
  42. 37 ASC 606 REVENUE FROM CONTRACTS WITH CUSTOMERS
    1. AUTHORITATIVE LITERATURE
    2. STEP 1: IDENTIFY THE CONTRACT WITH THE CUSTOMER
    3. STEP 2: IDENTIFY THE PERFORMANCE OBLIGATIONS
    4. STEP 3: DETERMINE THE TRANSACTION PRICE
    5. STEP 4: ALLOCATE THE TRANSACTION PRICE
    6. STEP 5: RECOGNIZE REVENUE WHEN (OR AS) THE ENTITY SATISFIES A PERFORMANCE OBLIGATION
    7. OTHER ISSUES
    8. PRACTICE ALERT
    9. PRESENTATION AND DISCLOSURE REQUIREMENTS
    10. PRESENTATION AND DISCLOSURE EXAMPLES
  43. 38 ASC 610 OTHER INCOME
    1. AUTHORITATIVE LITERATURE
    2. PRESENTATION AND DISCLOSURE REQUIREMENTS
    3. PRESENTATION AND DISCLOSURE EXAMPLES
  44. 39 ASC 705 COST OF SALES AND SERVICES
    1. AUTHORITATIVE LITERATURE
  45. 40 ASC 710 COMPENSATION— GENERAL
    1. AUTHORITATIVE LITERATURE
    2. PRESENTATION AND DISCLOSURE REQUIREMENTS
    3. PRESENTATION AND DISCLOSURE EXAMPLES
  46. 41 ASC 712 COMPENSATION—NONRETIREMENT POSTEMPLOYMENT BENEFITS
    1. AUTHORITATIVE LITERATURE
    2. PRESENTATION AND DISCLOSURE REQUIREMENTS
    3. PRESENTATION AND DISCLOSURE EXAMPLES
  47. 42 ASC 715 COMPENSATION—RETIREMENT BENEFITS
    1. AUTHORITATIVE LITERATURE
    2. PRACTICE ALERT
    3. PRESENTATION AND DISCLOSURE REQUIREMENTS
    4. PRESENTATION AND DISCLOSURE EXAMPLES
  48. 43 ASC 718 COMPENSATION—STOCK COMPENSATION
    1. AUTHORITATIVE LITERATURE
    2. PRACTICE ALERT
    3. PRESENTATION AND DISCLOSURE REQUIREMENTS
    4. PRESENTATION AND DISCLOSURE EXAMPLES
  49. 44 ASC 720 OTHER EXPENSES
    1. AUTHORITATIVE LITERATURE
    2. PRACTICE ALERT
    3. PRESENTATION AND DISCLOSURE REQUIREMENTS
    4. PRESENTATION AND DISCLOSURE EXAMPLES
  50. 45 ASC 730 RESEARCH AND DEVELOPMENT
    1. AUTHORITATIVE LITERATURE
    2. PRACTICE ALERT
    3. PRESENTATION AND DISCLOSURE REQUIREMENTS
    4. PRESENTATION AND DISCLOSURE EXAMPLES
  51. 46 ASC 740 INCOME TAXES
    1. AUTHORITATIVE LITERATURE
    2. PRACTICE ALERT
    3. PRESENTATION AND DISCLOSURE REQUIREMENTS
    4. PRESENTATION AND DISCLOSURE EXAMPLES
  52. 47 ASC 805 BUSINESS COMBINATIONS
    1. AUTHORITATIVE LITERATURE
    2. PRACTICE ALERT
    3. PRESENTATION AND DISCLOSURE REQUIREMENTS
    4. PRESENTATION AND DISCLOSURE EXAMPLES
  53. 48 ASC 808 COLLABORATIVE ARRANGEMENTS
    1. AUTHORITATIVE LITERATURE
    2. PRACTICE ALERT
    3. PRESENTATION AND DISCLOSURE REQUIREMENTS
    4. PRESENTATION AND DISCLOSURE EXAMPLES
  54. 49 ASC 810 CONSOLIDATIONS
    1. AUTHORITATIVE LITERATURE
    2. PRACTICE ALERT
    3. PRESENTATION AND DISCLOSURE REQUIREMENTS
    4. PRESENTATION AND DISCLOSURE EXAMPLES
    5. NOTES
  55. 50 ASC 815 DERIVATIVES AND HEDGING
    1. AUTHORITATIVE LITERATURE
    2. PRACTICE ALERT
    3. PRESENTATION AND DISCLOSURE REQUIREMENTS
    4. PRESENTATION AND DISCLOSURE EXAMPLES
    5. NOTES
  56. 51 ASC 820 FAIR VALUE MEASUREMENT
    1. AUTHORITATIVE LITERATURE
    2. PRACTICE ALERT
    3. PRESENTATION AND DISCLOSURE REQUIREMENTS
    4. PRESENTATION AND DISCLOSURE EXAMPLES
  57. 52 ASC 825 FINANCIAL INSTRUMENTS
    1. AUTHORITATIVE LITERATURE
    2. PRACTICE ALERT
    3. PRESENTATION AND DISCLOSURE REQUIREMENTS
    4. PRESENTATION AND DISCLOSURE EXAMPLES
    5. NOTES
  58. 53 ASC 830 FOREIGN CURRENCY MATTERS
    1. AUTHORITATIVE LITERATURE
    2. PRACTICE ALERT
    3. PRESENTATION AND DISCLOSURE REQUIREMENTS
    4. PRESENTATION AND DISCLOSURE EXAMPLES
  59. 51 ASC 835 INTEREST
    1. AUTHORITATIVE LITERATURE
    2. PRESENTATION AND DISCLOSURE REQUIREMENTS
    3. PRESENTATION AND DISCLOSURE EXAMPLES
  60. 55 ASC 840 LEASES
    1. AUTHORITATIVE LITERATURE
    2. PRESENTATION AND DISCLOSURE REQUIREMENTS
    3. PRESENTATION AND DISCLOSURE EXAMPLES
    4. NOTE
  61. 56 ASC 842 LEASES
    1. AUTHORITATIVE LITERATURE
    2. PRACTICE ALERT
    3. PRESENTATION AND DISCLOSURE REQUIREMENTS
    4. PRESENTATION AND DISCLOSURE EXAMPLES
  62. 57 ASC 845 NONMONETARY TRANSACTIONS
    1. AUTHORITATIVE LITERATURE
    2. PRACTICE ALERT
    3. PRESENTATION AND DISCLOSURE REQUIREMENTS
    4. PRESENTATION AND DISCLOSURE EXAMPLES
    5. NOTE
  63. 58 ASC 848 REFERENCE RATE REFORM
    1. AUTHORITATIVE LITERATURE
    2. PRESENTATION AND DISCLOSURE EXAMPLES
  64. 59 ASC 850 RELATED-PARTY DISCLOSURES
    1. AUTHORITATIVE LITERATURE
    2. PRACTICE ALERT
    3. PRESENTATION AND DISCLOSURE REQUIREMENTS
    4. PRESENTATION AND DISCLOSURE EXAMPLES
  65. 60 ASC 852 REORGANIZATIONS
    1. AUTHORITATIVE LITERATURE
    2. PRESENTATION AND DISCLOSURE REQUIREMENTS
    3. PRESENTATION AND DISCLOSURE EXAMPLES
  66. 61 ASC 853 SERVICE CONCESSION ARRANGEMENTS
    1. AUTHORITATIVE LITERATURE
    2. PRESENTATION AND DISCLOSURE REQUIREMENTS
    3. PRESENTATION AND DISCLOSURE EXAMPLES
  67. 62 ASC 855 SUBSEQUENT EVENTS
    1. AUTHORITATIVE LITERATURE
    2. PRACTICE ALERT
    3. PRESENTATION AND DISCLOSURE REQUIREMENTS
    4. PRESENTATION AND DISCLOSURE EXAMPLES
  68. 63 ASC 860 TRANSFERS AND SERVICING
    1. AUTHORITATIVE LITERATURE
    2. PRACTICE ALERT
    3. PRESENTATION AND DISCLOSURE REQUIREMENTS
    4. PRESENTATION AND DISCLOSURE EXAMPLES
    5. NOTE
  69. INDEX
  70. End User License Agreement

Product information

  • Title: Wiley GAAP: Financial Statement Disclosure Manual
  • Author(s): Joanne M. Flood
  • Release date: April 2021
  • Publisher(s): Wiley
  • ISBN: 9781118572085