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Amidst a national parade of corporate scandals, accounting professionals require a timely, rock-solid resource that will instill clients and investors with the confidence they have come to expect. The most practical, authoritative guide to GAAP delivers the most recent developments and analysis of all the generally accepted accounting principles (GAAP) for 2005, restating the original, highly technical pronouncements in easy-to-understand terms while providing battle-tested implementation guidance and real-world examples. Each chapter is composed of a discussion of perspectives and issues, sources of GAAP, a definition of terms, concepts, and rules, as well as examples.
List of contents
From the contents:
Authoritative Accounting Pronouncements.
1. Researching GAAP Problems. 2. Balance Sheet. 3. Statements of Income and Comprehensive Income. 4. Statement of Cash Flows. 5. Cash, Receivables, and Prepaid Expenses. 6. Short-Term Investments and Financial Instruments. 7. Inventory. 8. Revenue Recognition--Evolving Principles and Specialized Applications. Revenue Recognition--General Principles. Long-Term Construction Contracts. Service Revenues. Sales When Collection Is Uncertain. Revenue Recognition When Right of Return Exists. Profit Recognition on Real Estate Sales. Real Estate Operations. Franchising: Accounting by Franchisors. Other Special Accounting and Reporting Issues. 9 Long-Lived Assets. 10 Investments. 11 Business Combinations and Consolidated Financial Statements. 12 Current Liabilities and Contingencies. 13 Long-Term Debt. 14 Leases. 15 Income Taxes. 16 Pensions and Other Postretirement Benefits. 17 Stockholders' Equity. 18 Earnings Per Share. 19 Interim Reporting. 20 Segment Reporting. 21 Accounting Changes and Correction of Errors. 22 Foreign Currency. 23 Personal Financial Statements. 24 Specialized Industry GAAP. Banking and Thrift. Broadcasting. Cable Television. Computer Software Developers. Employee Benefit Plans, Including Pension Funds. Finance Companies. Government Contractors. Insurance. Investment Companies. Mortgage Banking. Motion Pictures. Not-for-Profit Organizations. Oil and Gas Producers. Recording and Music. Regulated Operations. Title Plant.
Index
About the author
Barry J. Epstein, PhD, CPA (Chicago, Ill), is currently a partner in the Chicago-based firm Gleeson, Sklar, Sawyers and Cumpata, LLP.
Ralph Nach is a managing director with the Chicago office of American Express Tax Business Services, Inc.
