Wiley GAAP: Practical Implementation Guide and Workbook

Wiley GAAP: Practical Implementation Guide and Workbook

by Barry J. Epstein, Nadira M. Saafir
Released August 2010
Publisher(s): Wiley
ISBN: 9780470599068

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Book description

Wiley GAAP Workbook provides easy-to-understand guidance and clarity to practical applications of GAAP. Enhancing your comprehension of GAAP to enable practical application of a variety of situations that you may encounter in practice, this workbook and guide simplifies application of GAAP standards and interpretations to specific real-world situations.

  • Provides easy-to-understand clarity and guidance on interpretation and application of the overwhelming and voluminous GAAP standards

  • Offers explanations supplemented with examples, case studies, solutions, and illustrations for enhanced understanding of GAAP

  • Includes newly issued accounting pronouncements and information on the GAAP codification

    • Wiley GAAP: Practical Implementation Guide and Workbook is a quick reference guide on Generally Accepted Accounting Principles and their application with easy to understand outlines of FASB standards, practical insights, case studies with solutions, illustrations, and multiple choice questions with solutions. It greatly facilitates understanding of the practical implementation issues involved in applying these complex rules-based standards.

    Table of contents

    1. Copyright
    2. About the Authors
    3. 1. RESEARCHING GAAP
      1. 1.1. BACKGROUND AND INTRODUCTION
        1. 1.1.1. Overview of GAAP
        2. 1.1.2. GAAP Defined
      2. 1.2. OBJECTIVE OF GAAP REPORTING
      3. 1.3. WHO CREATED GAAP?
        1. 1.3.1. Committee on Accounting Procedure
        2. 1.3.2. Accounting Principles Board
        3. 1.3.3. Financial Accounting Standards Board
        4. 1.3.4. American Institute of Certified Public Accountants (AICPA)
        5. 1.3.5. Emerging Issues Task Force (EITF)
        6. 1.3.6. Other Sources
      4. 1.4. ACCOUNTING STANDARDS CODIFICATION
      5. 1.5. HOW IS GAAP CREATED?
        1. 1.5.1. Due Process under ASC
      6. 1.6. HIERARCHY OF GAAP UNDER THE CODIFICATION
        1. 1.6.1. Hierarchy
        2. 1.6.2. Only "As Amended" Guidance Included in ASC
        3. 1.6.3. SEC Guidance Included in ASC
        4. 1.6.4. Using the ASC
        5. 1.6.5. Hybrid Classification Scheme Used in ASC
      7. 1.7. IMPORTANT CONCEPT OF MATERIALITY IN APPLYING GAAP
        1. 1.7.1. Materiality Defined
        2. 1.7.2. Quantitative Component to Materiality
        3. 1.7.3. Qualitative Component to Materiality
      8. 1.8. THE SARBANES-OXLEY ACT OF 2002
        1. 1.8.1. Internal Control Assessments
        2. 1.8.2. Sarbanes-Oxley and the Development of GAAP
        3. 1.8.3. Debate over Principles- and Rules-Based Standards
        4. 1.8.4. Standards Overload
        5. 1.8.5. Other FASB Initiatives to Reduce Complexity
        6. 1.8.6. AICPA and Its Diminished Influence
        7. 1.8.7. Alleged Harmful Effects Caused by Financial Reporting Standards
      9. 1.9. RESEARCHING GAAP PROBLEMS
        1. 1.9.1. Research Procedures
        2. 1.9.2. Researching Nonpromulgated GAAP
        3. 1.9.3. Internet-Based Research Sources
        4. 1.9.4. Example of How to Solve a GAAP Problem
      10. 1.10. FASB CONCEPTUAL FRAMEWORK
      11. 1.11. CONDUCTING RESEARCH THROUGH THE FASB CODIFICATION WEB SITE
    4. 2. STATEMENT OF FINANCIAL POSITION (ASC 210)
      1. 2.1. INTRODUCTION
      2. 2.2. SCOPE
      3. 2.3. STRUCTURE AND CONTENT
        1. 2.3.1. Assets
        2. 2.3.2. Liabilities
        3. 2.3.3. Offsetting
        4. 2.3.4. Stockholders' Equity
      4. 2.4. EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS
    5. 3. INCOME STATEMENT (ASC 225)
      1. 3.1. INTRODUCTION
      2. 3.2. SCOPE
      3. 3.3. CONTENT
        1. 3.3.1. Revenues
        2. 3.3.2. Expenses
        3. 3.3.3. Other Comprehensive Income
        4. 3.3.4. Extraordinary Items
      4. 3.4. FORMAT
      5. 3.5. Extracts from Published Financial Statements
    6. 4. STATEMENT OF CASH FLOWS (ASC 230)
      1. 4.1. INTRODUCTION
      2. 4.2. SCOPE
      3. 4.3. OVERALL CONSIDERATIONS
      4. 4.4. CLASSIFICATION
        1. 4.4.1. Investing Activities
        2. 4.4.2. Financing Activities
        3. 4.4.3. Operating Activities
        4. 4.4.4. Noncash Disclosures
      5. 4.5. PRESENTATION
        1. 4.5.1. Direct Method versus Indirect Method
      6. 4.6. GROSS VERSUS NET BASIS
      7. 4.7. CASH FLOW PER SHARE
      8. 4.8. EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS (INDIRECT METHOD)
    7. 5. ACCOUNTING POLICIES, CHANGES IN ACCOUNTING ESTIMATES, AND ERRORS (ASC 250)
      1. 5.1. BACKGROUND AND INTRODUCTION
      2. 5.2. ACCOUNTING POLICIES
      3. 5.3. CONSISTENCY OF ACCOUNTING POLICIES
      4. 5.4. FACTORS GOVERNING CHANGES IN ACCOUNTING POLICIES
      5. 5.5. APPLYING CHANGES IN ACCOUNTING POLICIES
      6. 5.6. LIMITATIONS OF RETROSPECTIVE APPLICATION
      7. 5.7. DISCLOSURES WITH RESPECT TO CHANGES IN ACCOUNTING POLICIES
      8. 5.8. CHANGES IN ACCOUNTING ESTIMATES
        1. 5.8.1. Disclosures with Respect to Changes in Accounting Estimates
      9. 5.9. CHANGE IN REPORTING ENTITY
      10. 5.10. CORRECTION OF PRIOR PERIOD ERRORS
        1. 5.10.1. Disclosures in Respect of Correction of Prior Period Errors
      11. 5.11. EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS
    8. 6. Fair Value (ASC 820)
      1. 6.1. SCOPE
      2. 6.2. SCOPE EXCEPTIONS
      3. 6.3. MEASUREMENT PRINCIPLES
      4. 6.4. VALUATION TECHNIQUES
      5. 6.5. MEASUREMENT CONSIDERATIONS
      6. 6.6. FAIR VALUE DISCLOSURES
      7. 6.7. FAIR VALUE OPTION
      8. 6.8. PRESENTATION AND DISCLOSURE
      9. 6.9. EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS
    9. 7. CASH, RECEIVABLES, AND PREPAID EXPENSES (ASC 305, 310, 860)
      1. 7.1. BACKGROUND AND INTRODUCTION
      2. 7.2. CASH
        1. 7.2.1. Compensating Balances
        2. 7.2.2. Cash Not Immediately Available
        3. 7.2.3. Overdrafts
        4. 7.2.4. Petty Cash
      3. 7.3. RECEIVABLES
        1. 7.3.1. Valuation Allowance for Uncollectible Amounts
        2. 7.3.2. Imputed Interest
        3. 7.3.3. Pledging, Assigning, and Factoring Receivables
      4. 7.4. PREPAID EXPENSES
        1. 7.4.1. Amortization
      5. 7.5. DISCLOSURES
      6. 7.6. EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS
    10. 8. INVENTORY (ASC 330)
      1. 8.1. BACKGROUND AND INTRODUCTION
      2. 8.2. SCOPE
      3. 8.3. OWNERSHIP OF GOODS
        1. 8.3.1. Goods in Transit
      4. 8.4. FOB
      5. 8.5. FAS
        1. 8.5.1. Consignment
        2. 8.5.2. Product Financing Arrangement
        3. 8.5.3. Right of Return
      6. 8.6. ACCOUNTING FOR INVENTORIES
      7. 8.7. MEASUREMENT OF INVENTORIES
      8. 8.8. COST OF INVENTORIES
        1. 8.8.1. Raw Material and Merchandise Inventory
        2. 8.8.2. Manufacturing Inventories
      9. 8.9. COST FLOW ASSUMPTIONS
        1. 8.9.1. First-In, First-Out (FIFO)
        2. 8.9.2. Last-In, First-Out (LIFO)
      10. 8.10. LIFO LIQUIDATION
        1. 8.10.1. Pooling Approach
        2. 8.10.2. Dollar-Value LIFO
        3. 8.10.3. Computing Dollar-Value LIFO
      11. 8.11. LIFO CONFORMITY RULE
        1. 8.11.1. Weighted-Average and Moving-Average
      12. 8.12. LOWER OF COST OR MARKET
      13. 8.13. OTHER INVENTORY TOPICS
        1. 8.13.1. Purchase Commitments
        2. 8.13.2. Inventories Valued at Selling Price
        3. 8.13.3. Stripping Costs Incurred during Production in the Mining Industry
      14. 8.14. INTERIM REPORTING
      15. 8.15. DISCLOSURE
      16. 8.16. EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS
    11. 9. REVENUE RECOGNITION (ASC 605)
      1. 9.1. BACKGROUND AND INTRODUCTION
      2. 9.2. SCOPE
      3. 9.3. MEASUREMENT OF REVENUE
      4. 9.4. IDENTIFICATION OF A TRANSACTION
      5. 9.5. SALE OF GOODS
      6. 9.6. RENDERING OF SERVICES
        1. 9.6.1. Examples
      7. 9.7. DISCLOSURES
      8. 9.8. EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS
    12. 10. PROPERTY, PLANT, AND EQUIPMENT (ASC 360)
      1. 10.1. BACKGROUND AND INTRODUCTION
      2. 10.2. RECOGNITION OF AN ASSET
        1. 10.2.1. Criteria for Recognition
        2. 10.2.2. Measurement at Recognition
        3. 10.2.3. Measurement of Cost
        4. 10.2.4. Measurement after Recognition
      3. 10.3. DEPRECIATION
        1. 10.3.1. Straight-Line Method
        2. 10.3.2. Accelerated Methods
        3. 10.3.3. Declining Balance
      4. 10.4. DERECOGNITION
      5. 10.5. DISCLOSURE
      6. 10.6. EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS
    13. 11. FINANCIAL INSTRUMENTS (ASC 825)
      1. 11.1. INTRODUCTION
      2. 11.2. SCOPE
        1. 11.2.1. Financial Instruments
      3. 11.3. CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES INTO CATEGORIES
        1. 11.3.1. Financial Assets and Liabilities
        2. 11.3.2. Transfers between Categories
          1. 11.3.2.1. Summary
      4. 11.4. RECOGNITION
      5. 11.5. DERECOGNITION
        1. 11.5.1. Derecognition of Financial Assets
        2. 11.5.2. Derecognition of Financial Liabilities
      6. 11.6. MEASUREMENT
        1. 11.6.1. Initial Measurement
        2. 11.6.2. Subsequent Measurement
        3. 11.6.3. Summary
        4. 11.6.4. Impairment
      7. 11.7. DERIVATIVES
        1. 11.7.1. Embedded Derivatives
      8. 11.8. HEDGE ACCOUNTING
        1. 11.8.1. Hedging Relationships
        2. 11.8.2. Accounting Treatment
        3. 11.8.3. Hedge Accounting Conditions
        4. 11.8.4. Fair Value Hedge
        5. 11.8.5. Cash Flow Hedge
        6. 11.8.6. Hedge of a Net Investment in a Foreign Operation
        7. 11.8.7. Hedge Effectiveness Assessment and Measurement
        8. 11.8.8. Discontinuation of Hedge Accounting
      9. 11.9. DISCLOSURES
        1. 11.9.1. Fair Value Disclosures
        2. 11.9.2. Derivatives Disclosures
        3. 11.9.3. Hedge Disclosures
        4. 11.9.4. Foreign Currency Net Investment Hedges
        5. 11.9.5. Comprehensive Income
      10. 11.10. EXTRACTS FROM FINANCIAL STATEMENTS
    14. 12. EQUITY METHOD INVESTMENTS AND JOINT VENTURES (ASC 323)
      1. 12.1. BACKGROUND AND INTRODUCTION
      2. 12.2. EQUITY METHOD
        1. 12.2.1. Initial Measurement
        2. 12.2.2. Subsequent Accounting
        3. 12.2.3. Deferred Income Tax Accounting
        4. 12.2.4. Differences in Fiscal Year
        5. 12.2.5. Investor Share of Investee Losses in Excess of the Carrying Value of the Investment
        6. 12.2.6. Intercompany Transactions between Investor and Investee
        7. 12.2.7. Investee Income Items Separately Reportable by the Investor
        8. 12.2.8. Investor Accounting for Investee Capital Transactions
        9. 12.2.9. Investor's Proportionate Share of Other Comprehensive Income Items
        10. 12.2.10. Change in Level of Ownership or Degree of Influence
        11. 12.2.11. Significant Influence in the Absence of Ownership of Voting Common Stock
      3. 12.3. EQUITY INVESTMENTS IN CORPORATE JOINT VENTURES AND NONCORPORATE ENTITIES
        1. 12.3.1. Corporate Joint Ventures
        2. 12.3.2. General Partnerships
        3. 12.3.3. Limited Partnerships
        4. 12.3.4. Limited Partnerships Controlled by the General Partners
        5. 12.3.5. Limited Partnerships Controlled by the Limited Partners
        6. 12.3.6. Limited Liability Companies that Maintain a Specific Ownership Account for Each Investor
        7. 12.3.7. Limited Liability Companies that Are Functionally Equivalent to Corporations ("Analogous Entities")
        8. 12.3.8. Display in the Reporting Entity's Financial Statements When the Investee Is Not a Corporation
    15. 13. INTANGIBLE ASSETS (ASC 350)
      1. 13.1. INTRODUCTION AND BACKGROUND
      2. 13.2. INTANGIBLE ASSETS
        1. 13.2.1. Defensive Intangible Assets
        2. 13.2.2. Leasehold Improvements
        3. 13.2.3. Software Developed for Internal Use
        4. 13.2.4. Web Site Development Costs
      3. 13.3. INITIAL RECOGNITION AND MEASUREMENT OF INTANGIBLES
        1. 13.3.1. Amortization and Impairment Considerations
        2. 13.3.2. Useful Life and Residual Value Considerations
      4. 13.4. EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS
    16. 14. CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS (ASC 810)
      1. 14.1. SCOPE
      2. 14.2. PRESENTATION OF FINANCIAL STATEMENTS
      3. 14.3. CONSOLIDATED FINANCIAL STATEMENTS
      4. 14.4. ACCOUNTING PROCEDURES
      5. 14.5. VARIABLE INTEREST ENTITIES
      6. 14.6. DISCLOSURES
      7. 14.7. EXTRACT FROM PUBLISHED FINANCIAL STATEMENT
    17. 15. BUSINESS COMBINATIONS (ASC 805)
      1. 15.1. BACKGROUND AND INTRODUCTION
        1. 15.1.1. Business Combination
        2. 15.1.2. Acquisition Method
        3. 15.1.3. Control
      2. 15.2. IDENTIFYING AN ACQUIRERs
      3. 15.3. COST OF ACQUISITION
      4. 15.4. NET ASSETS ACQUIRED
      5. 15.5. GOODWILL
      6. 15.6. INITIAL ACCOUNTING
      7. 15.7. DISCLOSURES
      8. 15.8. EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS
    18. 16. INCOME TAXES (ASC 740)
      1. 16.1. BACKGROUND AND INTRODUCTION
        1. 16.1.1. The Standard Applies to the Accounting for Income Taxes
      2. 16.2. CURRENT TAX LIABILITIES AND ASSETS
      3. 16.3. ACCOUNTING FOR DEFERRED TAX
        1. 16.3.1.
          1. 16.3.1.1. Examples
        2. 16.3.2. Summary of Accounting for Deferred Tax
      4. 16.4. CONSOLIDATED FINANCIAL STATEMENTS
      5. 16.5. TEMPORARY DIFFERENCES NOT RECOGNIZED FOR DEFERRED TAX
      6. 16.6. DEFERRED TAX ASSETS
      7. 16.7. ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES
      8. 16.8. TAX RATES
      9. 16.9. DISCOUNTING
      10. 16.10. CURRENT AND DEFERRED TAX RECOGNITION
      11. 16.11. DIVIDENDS
        1. 16.11.1. Effect of Share-Based Payment Transactions
      12. 16.12. DISCLOSURE: KEY ELEMENTS
      13. 16.13. EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS
        1. 16.13.1.
          1. 16.13.1.1. Whirlpool Corporation Annual Report 2009
    19. 17. CURRENT LIABILITIES AND CONTINGENCIES (VARIOUS SECTIONS UNDER THE ASC)
      1. 17.1. BACKGROUND AND INTRODUCTION
      2. 17.2. CURRENT LIABILITIES
        1. 17.2.1. Amount and Payee Known
        2. 17.2.2. Short-Term Obligations Expected to Be Refinanced
        3. 17.2.3. Payee Known but Amount May Have to Be Estimated
          1. 17.2.3.1. Example of accrued real estate taxes
        4. 17.2.4. Vesting
        5. 17.2.5. Sick Pay
        6. 17.2.6. Other Types of Paid Time Off
        7. 17.2.7. Payee Unknown and the Amount May Have to Be Estimated
          1. 17.2.7.1. Example of product warranty expense
        8. 17.2.8. Environmental Remediation Liabilities
      3. 17.3. CONTINGENCIES
        1. 17.3.1. Loss Contingency
        2. 17.3.2. Unasserted Claims or Assessments
        3. 17.3.3. Estimate versus Contingency
        4. 17.3.4. Guarantees
      4. 17.4. EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS
    20. 18. LONG-TERM LIABILITIES (ASC 480 AND 835)
      1. 18.1. INTRODUCTION
      2. 18.2. NOTES AND BONDS
        1. 18.2.1. Notes Issued Solely for Cash
        2. 18.2.2. Notes Issued for Cash and a Right or Privilege
        3. 18.2.3. Noncash Transactions
      3. 18.3. MANDATORILY REDEEMABLE SHARES AND SIMILAR INSTRUMENTS
      4. 18.4. OBLIGATIONS TO ISSUE OR REPURCHASE SHARES
        1. 18.4.1. Obligations to Issue Shares
        2. 18.4.2. Obligations to Repurchase Shares
      5. 18.5. MEASURING LIABILITIES AT FAIR VALUE
    21. 19. LEASES (ASC 840)
      1. 19.1. BACKGROUND AND INTRODUCTION
      2. 19.2. CLASSIFICATION OF LEASES
        1. 19.2.1. Lessee Classification
        2. 19.2.2. Lessor Classification
        3. 19.2.3. Sales-Type Lease
        4. 19.2.4. Direct Financing Lease
        5. 19.2.5. Leveraged Lease
      3. 19.3. LESSEE ACCOUNTING
        1. 19.3.1. Operating Leases
        2. 19.3.2. Capital Leases
      4. 19.4. LESSOR ACCOUNTING
        1. 19.4.1. Operating Leases
        2. 19.4.2. Sales-Type Leases
        3. 19.4.3. Direct Financing Leases
        4. 19.4.4. Leveraged Leases
      5. 19.5. SALE-AND-LEASEBACK TRANSACTIONS AND OTHER TRANSACTIONS INVOLVING THE LEGAL FORM OF A LEASE
      6. 19.6. EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS
    22. 20. Segment Reporting (ASC 280)
      1. 20.1. BACKGROUND AND INTRODUCTION
      2. 20.2. SCOPE
      3. 20.3. OPERATING SEGMENTS
      4. 20.4. REPORTABLE SEGMENTS
        1. 20.4.1. Revenue Test
        2. 20.4.2. Profit and Loss Test
        3. 20.4.3. Assets Test
      5. 20.5. SEGMENT DISCLOSURES
        1. 20.5.1. General Information
        2. 20.5.2. Certain Information about Reported Segment Profit and Loss, Segment Assets, and the Basis of Measurement
        3. 20.5.3. Reconciliations
        4. 20.5.4. Interim-Period Information
      6. 20.6. ENTITY-WIDE DISCLOSURES
        1. 20.6.1. Products and Services
        2. 20.6.2. Geographic Areas
        3. 20.6.3. Major Customers
      7. 20.7. RESTATEMENT OF PREVIOUSLY REPORTED SEGMENT INFORMATION
      8. 20.8. EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS
    23. 21. INTERIM REPORTING (ASC 270)
      1. 21.1. OBJECTIVE
      2. 21.2. FORM AND CONTENT OF INTERIM REPORTS
      3. 21.3. DISCLOSURE OF INTERIM INFORMATION
      4. 21.4. PERIODS TO BE PRESENTED BY INTERIM FINANCIAL STATEMENTS
      5. 21.5. MEASUREMENT
      6. 21.6. ACCOUNTING CHANGES
      7. 21.7. CONTINGENCIES
    24. 22. FOREIGN CURRENCY (ASC 830)
      1. 22.1. OBJECTIVES AND SCOPE
      2. 22.2. FUNCTIONAL CURRENCY
      3. 22.3. TRANSLATION METHODS
      4. 22.4. RECOGNITION OF EXCHANGE DIFFERENCES
      5. 22.5. TRANSLATION OF A FOREIGN OPERATION
      6. 22.6. DISCLOSURE
      7. 22.7. EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS
    25. 23. EARNINGS PER SHARE (ASC 260)
      1. 23.1. BACKGROUND AND INTRODUCTION
      2. 23.2. COMMON STOCK
      3. 23.3. PRESENTATION OF EARNINGS PER SHARE
      4. 23.4. BASIC EARNINGS PER SHARE
      5. 23.5. RIGHTS ISSUES
      6. 23.6. DILUTED EARNINGS PER SHARE
        1. 23.6.1. Identification of Potentially Dilutive Securities
        2. 23.6.2. Computation of DEPS
        3. 23.6.3. Treasury Stock Method
        4. 23.6.4. If-Converted Method
      7. 23.7. PRESENTATION
      8. 23.8. DISCLOSURES
      9. 23.9. EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS
    26. 24. EMPLOYEE BENEFITS (ASC 715)
      1. 24.1. SCOPE
      2. 24.2. DEFINED CONTRIBUTION PLANS AND DEFINED BENEFIT PLANS—CLASSIFICATION
      3. 24.3. DEFINED BENEFIT PLANS
      4. 24.4. DEFINED CONTRIBUTION PLANS
      5. 24.5. CONTRASTING DEFINED BENEFIT AND DEFINED CONTRIBUTION
      6. 24.6. ACCOUNTING FOR DEFINED CONTRIBUTION PLANS
      7. 24.7. ACCOUNTING FOR DEFINED BENEFIT PLANS
      8. 24.8. KEY INFORMATION: DEFINED BENEFIT PLANS
      9. 24.9. STATEMENT OF FINANCIAL POSITION
      10. 24.10. INCOME STATEMENT
      11. 24.11. MEASURING THE DEFINED BENEFIT OBLIGATION
      12. 24.12. PLAN ASSETS
      13. 24.13. PENSION ASSETS AND LIABILITIES
      14. 24.14. CURTAILMENTS AND SETTLEMENTS
      15. 24.15. ASSET GAINS AND LOSSES—DEFINED BENEFIT PLANS
      16. 24.16. DISCLOSURE
      17. 24.17. EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS
    27. 25. ACCOUNTING AND REPORTING BY RETIREMENT BENEFIT PLANS (ASC 960 AND 962)
      1. 25.1. INTRODUCTION
      2. 25.2. DEFINED CONTRIBUTION PLANS
      3. 25.3. DEFINED BENEFIT PLANS
      4. 25.4. ADDITIONAL DISCLOSURES REQUIRED BY THE STANDARDS
    28. 26. STOCKHOLDERS' EQUITY (ASC 505)
      1. 26.1. BACKGROUND AND INTRODUCTION
      2. 26.2. LEGAL CAPITAL AND CAPITAL STOCK
        1. 26.2.1. Preferred Stock
        2. 26.2.2. Issuance of Shares
      3. 26.3. STOCK SUBSCRIPTIONS
      4. 26.4. ADDITIONAL PAID-IN CAPITAL
        1. 26.4.1. Donated Capital
      5. 26.5. RETAINED EARNINGS
        1. 26.5.1. Dividends
        2. 26.5.2. Treasury Stock
    29. 27. PERSONAL FINANCIAL STATEMENTS (ASC 274)
      1. 27.1. INTRODUCTION
      2. 27.2. SCOPE
      3. 27.3. PURPOSE AND COMPONENTS OF FINANCIAL STATEMENTS
      4. 27.4. MEASUREMENT
      5. 27.5. DISCLOSURES
      6. 27.6. HYPOTHETICAL SET OF PERSONAL FINANCIAL STATEMENTS
    30. ANSWERS FOR MULTIPLE-CHOICE QUESTIONS

    Product information

    • Title: Wiley GAAP: Practical Implementation Guide and Workbook
    • Author(s): Barry J. Epstein, Nadira M. Saafir
    • Release date: August 2010
    • Publisher(s): Wiley
    • ISBN: 9780470599068