Wiley GAAP 2020: Interpretation and Application of Generally Accepted Accounting Principles, Joanne M. Flood

US GAAP is constantly being updated, requiring its users to be armed with expert interpretation and explanation of the relevant principles. Wiley GAAP 2021 provides the most complete coverage of all Financial Accounting Standards Board (FASB) Topics - including the latest updates..

Each chapter includes discussion of perspectives and issues, sources of GAAP, practice-oriented examples, and accurate definitions of terms, concepts, and rules. Every FASB Topic is fully explained in a clear, reader-friendly way with dynamic graphics to aid in understanding complex topics. Extensively updated to reflect all current US GAAP changes, this indispensable book:

• Reviews the latest changes to accounting principles, including credit losses, inventory, financial instruments, leases, and revenue
• Offers expert guidance on issues surrounding specific pronouncements
• Includes comprehensive cross-references and topic-specific appendices
• Explains how the standards apply to common real-world scenarios
• Clarifies implementation through numerous illustrations and practical examples

Accurate and up-to-date GAAP implementation is crucial for eliminating the risk of noncompliance. Wiley GAAP 2021 is your one-stop resource for staying up-to-date with constantly-changing guidelines--providing the insight and guidance accounting professionals need.

Wiley GAAP 2019 is the essential resource for US GAAP implementation. Covering all codifications by the Financial Accounting Standards Board (FASB)--including the latest updates--this book provides clear explanations and practical examples for real-world application of these dynamic guidelines. Each chapter includes relevant sources of GAAP and expert guidance on interpretation, terminology, relevant concepts, and applicable rules, while in-depth discussion on the issues surrounding specific pronouncements offers informative perspective for a variety of scenarios.

This user-friendly reference covers every pronouncement currently in effect or being deliberated--including FASB Technical Bulletins, FASB Implementation Guides, AcSEC Practice Bulletins, and AICPA Accounting Interpretations--in a single volume, fully referenced to the FASB Current Text and cross-referenced to the new FASB codification system. Clear and concise without sacrificing depth or rigor, this invaluable resource simplifies research and helps CPAs and other accounting professionals ensure accuracy and compliance.

• Examine the latest changes to US GAAP standards and practices
• Gain expert perspectives on the issues surrounding specific pronouncements

• Learn how the standards translate to common real-world scenarios
• Clarify implementation through numerous illustrations and real-world examples

Staying up-to-date with constantly-evolving guidelines is a challenge, but the requirement for accurate interpretation and appropriate application adds an additional layer of complexity in an area where noncompliance could expose an organization to significant risk. Wiley GAAP 2019 provides the guidance, insight, and perspective accounting professionals need to ensure accurate and up-to-date GAAP implementation.