Book description
This highly regarded reference is relied on by a considerable part of the accounting profession in their day-to-day work. This comprehensive resource is widely recognized and relied on as a single reference source that provides answers to all reasonable questions on accounting and financial reporting asked by accountants, auditors, bankers, lawyers, financial analysts, and other preparers and users of accounting information. The new edition reflects the new FASB Codification, and includes expanded coverage of fair value and guidance on developing fair value estimates, fraud risk and exposure, healthcare, and IFRS.
Table of contents
- Cover
- Update Service
- Title Page
- Copyright
- Preface
- About the Editor
- About the Contributors
-
Chapter 1: Financial Accounting and Auditing Organizations
- 1.1 Role of Financial Accounting and Auditing in the U.S. Economy
- 1.2 Accounting Standards in the United States
- 1.3 Role of the Securities and Exchange Commission
- 1.4 Financial Accounting Standards Board
- 1.5 Governmental Accounting Standards Board
- 1.6 Federal Accounting Standards Advisory Board
- 1.7 American Institute of Certified Public Accountants
- 1.8 U.S. Auditing Standards
- 1.9 Public Company Accounting Oversight Board
- 1.10 American Institute of Certified Public Accountants
- 1.11 State Boards and Other Organizations
- 1.12 Government Accountability Office
- 1.13 Role of International Financial Accounting and Auditing Institutions
- 1.14 International Accounting Standards Board
- 1.15 International Organization of Securities Commissions
- 1.16 European Union
- 1.17 International Auditing—International Federation of Accountants
- 1.18 Summary and Commentary
- 1.19 Additional Reading
- 1.20 Selected Web Sites
- Chapter 2: Framework of Financial Accounting Concepts and Standards: A Historical Perspective
-
Chapter 3: Future Directions in Financial Accounting Standards: The Potential Role of International Accounting Standards
- 3.1 Introduction
- 3.2 Necessary Transition Period
- 3.3 Case for Adopting One Set of Principles-Based Standards
- 3.4 Historical Perspective
- 3.5 Formation and Structure of the IASB
- 3.6 Structure and Process of the IASB
- 3.7 Standards in Force
- 3.8 Impediments to Implementation
- 3.9 Myths and Misconceptions about International Standards
- 3.10 Sources and Suggested References
-
Chapter 4: Financial Statements: Form and Content
- 4.1 Introduction
- 4.2 Principles Underlying Financial Statements
- 4.3 Balance Sheet
- 4.4 Income Statement
- 4.5 Statement of Stockholders' Equity
- 4.6 Statement of Cash Flows
- 4.7 Articulation of Financial Statements
- 4.8 Financial Statement Disclosure
- 4.9 Limitations of Financial Statements
- 4.10 International Perspective
- 4.11 References to the Historical Accounting Literature
- Chapter 5: Securities and Exchange Commission Reporting Requirements
- Chapter 6: Management Discussion and Analysis
-
Chapter 7: Introduction to Internal Control Assessment and Reporting
- 7.1 Introduction
- 7.2 Definition of Internal Control
- 7.3 Management's Required Reports on Internal Control
- 7.4 Management Certifications
- 7.5 Independent Auditor's Responsibilities
- 7.6 Audit Standards
- 7.7 Top-Down, Risk-Based Approach for Evaluating Internal Control
- 7.8 Coordinating with the Independent Auditors
- 7.9 A New Era
- Chapter 8: Accounting for Business Combinations
- Chapter 9: Consolidation, Translation, and the Equity Method
-
Chapter 10: Analyzing Financial Statements
- 10.1 Scope of Financial Statement Analysis
- 10.2 Income Statement Analysis
- 10.3 Accounting and Reporting Issues
- 10.4 Balance Sheet Analysis
- 10.5 Cash Flow Analysis
- 10.6 Integrated Analysis of Financial Statements
- 10.7 Fixed Income Analysis
- 10.8 Finance Company Debt Analysis
- 10.9 Key Ratios
- 10.10 Sources and Suggested References
- Chapter 11: Cash, Loans, and Investments
- Chapter 12: Revenues and Receivables
-
Chapter 13: Inventory
- 13.1 Overview
- 13.2 Essential Inventory Concepts
- 13.3 Types of Inventory
- 13.4 Determining Physical Quantities
- 13.5 Valuation Methods
- 13.6 Flow of Costs
- 13.7 Control Objectives and Procedures
- 13.8 Financial Statement Disclosure Requirements
- 13.9 International Standards on Inventory Accounting
- 13.10 Sources and Suggested References
-
Chapter 14: Goodwill and Other Intangible Assets
- 14.1 Characterization of Intangible Assets
- 14.2 Accounting and Financial Management Overview
- 14.3 Initial Recognition and Measurement of Intangible Assets
- 14.4 Accounting for Intangible Assets
- 14.5 Certain Identifiable Intangible Assets
- 14.6 Intangible Assets in Specialized Industries
- 14.7 Accounting for Goodwill
- 14.8 Deferred Income Taxes
- 14.9 Financial Statement Presentation
- 14.10 Disclosures
- 14.11 Effective Date and Transition Provisions of SFAS No. 142 (ASC 350)
- 14.12 Sources and Suggested References
-
Chapter 15: Leases
- 15.1 Introduction and Background Information
- 15.2 Accounting Issues and Pronouncements
- 15.3 Operating Leases
- 15.4 Capital Leases
- 15.5 Direct Financing Leases
- 15.6 Sales-Type Leases
- 15.7 Sale or Assignment of a Lease or of Property Subject to a Lease Accounted for as a Sales-Type or Direct Financing Lease
- 15.8 Leveraged Leases
- 15.9 Real Estate Leases
- 15.10 Selected Issues in Lease Accounting
- 15.11 Examples of Lease Disclosure
- 15.12 FASB Adds Lease Accounting Back on Its Agenda
- 15.13 Sources and Suggested References
-
Chapter 16: Property, Plant, Equipment, and Depreciation
- 16.1 Nature of Property, Plant, and Equipment
- 16.2 Cost
- 16.3 Impairment of Value
- 16.4 Expenditures During Ownership
- 16.5 Disposals
- 16.6 Asset Retirement Obligations
- 16.7 Depreciation
- 16.8 Service Life
- 16.9 Depreciation Base
- 16.10 Depreciation Methods
- 16.11 Depreciation Rates
- 16.12 Depreciation for Tax Purposes
- 16.13 Financial Statement Presentation and Disclosure
- 16.14 Sources and Suggested References
-
Chapter 17: Accounting for Income Taxes
- 17.1 Accounting Recognition of Income Taxes
- 17.2 Applying FASB ASC 740
- 17.3 FASB ASC 740-10: Accounting for Uncertainty in Income Taxes
- 17.4 Financial Reporting
- 17.5 Accounting for Income Taxes in Interim Periods
- 17.6 International Financial Reporting Standards
- 17.7 Sources and Suggested References
- 17.8 Valuable Web Sites
-
Chapter 18: Liabilities
- 18.1 Nature of Liabilities
- 18.2 Interest
- 18.3 Current Liabilities
- 18.4 Nature and Issue of Bonds Payable
- 18.5 Bond Interest Payments, Premium, and Discount Amortization
- 18.6 Bond Redemption, Refunding, and Conversion
- 18.7 Statement Presentation of Long-Term Debt
- 18.8 Other Long-Term Liabilities
- 18.9 Financial Instruments With Characteristics of Both Liabilities and Equity
- 18.10 Restructuring and Extinguishment of Liabilities
- 18.11 Accounting for Selected Financing Instruments
- 18.12 Fair Value Option
- 18.13 International Perspective
- 18.14 Predecessor Literature and Other Reference Materials
-
Chapter 19: Shareholders' Equity
- 19.1 The Corporation
- 19.2 Shares of Stock
- 19.3 Issuance of Stock
- 19.4 Common Stock Adjustments
- 19.5 Reacquisition and Retirement of Capital Stock
- 19.6 Share-Based Payments
- 19.7 Retained Earnings
- 19.8 Other Items Affecting Stockholders' Equity
- 19.9 Disclosure of Information about Capital Structure
- 19.10 Sources and Suggested References
-
Chapter 20: Partnerships and Joint Ventures
- 20.1 Nature and Organization of The Partnership Entity
- 20.2 Accounting for Partnership Operations
- 20.3 Accounting for Changes in Firm Membership
- 20.4 Incorporation of a Partnership
- 20.5 Partnership Realization and Liquidation
- 20.6 Limited Partnerships
- 20.7 Nonpublic Investment Partnerships
- 20.8 Joint Ventures
- 20.9 Sources and Suggested References
-
Chapter 21: Prospective Financial Statements
- 21.1 Types of Prospective Financial Statements
- 21.2 Limitations on the Use of Prospective Financial Statements
- 21.3 Developing Prospective Financial Statements
- 21.4 Presentation and Disclosure of Prospective Financial Statements
- 21.5 Types of Accountants' Services
- 21.6 Compilation Services
- 21.7 Examination Services
- 21.8 Agreed-Upon Procedures
- 21.9 Internal Use Services
- 21.10 Sources and Suggested References
- Index
Product information
- Title: Accountants' Handbook, Volume One, Financial Accounting and General Topics, 12th Edition
- Author(s):
- Release date: June 2012
- Publisher(s): Wiley
- ISBN: 9781118171820
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