You are previewing Accountants' Handbook, Volume Two, Special Industries and Special Topics, 12th Edition.
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Accountants' Handbook, Volume Two, Special Industries and Special Topics, 12th Edition

Book Description

This highly regarded reference is relied on by a considerable part of the accounting profession in their day-to-day work. This handbook is the first place accountants, auditors, bankers, lawyers, financial analysts, and other preparers and users of accounting information look to find answers to questions on accounting and financial reporting. The new edition will be updated to reflect the new FASB Codification, as well as including expanded coverage of fair value and guidance on developing fair value estimates, fraud risk and exposure, healthcare, and IFRS.

Table of Contents

  1. Cover
  2. Update Service
  3. Title Page
  4. Copyright
  5. Preface
  6. About the Editor
  7. About the Contributors
  8. Chapter 22: Personal Financial Statements
    1. 22.1 What Are They? And Why Do We Need Them?
    2. 22.2 Practical Tips
    3. 22.3 Rules and Guidance in Presenting Asset Values
    4. 22.4 Rules and Guidance in Presenting Liabilities
    5. 22.5 Provision for Income Taxes
    6. 22.6 Statement of Changes in Net Worth
    7. 22.7 Disclosures
    8. 22.8 Compilation
    9. 22.9 Review
    10. 22.10 Audits
    11. 22.11 Reports
    12. 22.12 Compiled Statements Only for Client Internal Use
    13. 22.13 Sources and Suggested References
  9. Chapter 23: Stock-Based Compensation
    1. 23.1 History of Accounting for Stock-Based Compensation
    2. 23.2 Accounting for Stock-Based Compensation
    3. 23.3 Estimating Fair Value
    4. 23.4 Special Topics
    5. 23.5 Disclosure
    6. 23.6 Accounting Standards Codification
    7. 23.7 International Perspective
    8. 23.8 Sources and Suggested References
  10. Chapter 24: Fair Value Measurement
    1. 24.1 Introduction
    2. 24.2 Why the Trend Toward Fair Value Accounting?
    3. 24.3 History and Evolution of Fair Value
    4. 24.4 Fair Value Measurements Standards and Concepts
    5. 24.5 Fair Value Option
    6. 24.6 Auditing Fair Value Measurements
    7. 24.7 Conclusion
  11. Chapter 25: Valuation of Assets, Liabilities, and Nonpublic Companies
    1. 25.1 Introduction
    2. 25.2 Standards of Value
    3. 25.3 Auditing Guidance
    4. 25.4 Business Valuation Basics
    5. 25.5 Business Valuation Methods
    6. 25.6 Discounts and Premiums
    7. 25.7 What a Valuation Report Should Contain
    8. 25.8 Intangible Assets—ASC 805/350 Issues
    9. 25.9 Does It All Add Up?
    10. 25.10 Credentials of a Valuation Analyst
    11. Appendix A BVR's Glossary of Business Valuation Terms, 2009
    12. Appendix B Additional Sources of Study
  12. Chapter 26: Accounting for Derivatives: A Primer
    1. 26.1 Overview
    2. 26.2 Definition of a Derivative
    3. 26.3 Exemptions
    4. 26.4 Embedded Derivative Instruments
    5. 26.5 Accounting Treatment
    6. 26.6 Disclosures
    7. 26.7 International Financial Reporting Standards and Derivatives
    8. 26.8 Sources and Suggested References
  13. Chapter 27: Pension Plans and Other Postretirement and Postemployment Benefits
    1. 27.1 Background, Environment, and Overview
    2. 27.2 Sponsor Accounting
    3. 27.3 Sponsor Accounting for Nonrecurring Events
    4. 27.4 Sponsor Accounting for Nonqualified Plans
    5. 27.5 Plan Accounting
    6. 27.6 Accounting for Postretirement Benefits Other Than Pensions
    7. 27.7 Employers' Accounting for Postemployment Benefits
    8. 27.8 Sources and Suggested References
    9. 27.9 Appendix
  14. Chapter 28: Not-for-Profit Organizations
    1. 28.1 Not-for-Profit Accounting Environment
    2. 28.2 Not-for-Profit Accounting Principles and Reporting Practices
    3. 28.3 Specific Types of Organizations
    4. 28.4 Audit Considerations for a Not-for-Profit Organization
    5. 28.5 Sources and Suggested References
    6. Appendix 28.1: Factors to Be Considered in Distinguishing Contracts for the Purchase of Goods or Services from Restricted Grants
    7. Appendix 28.2: Factors to Be Considered in Assessing Whether Contributed Services Require Specialized Skills
    8. Appendix 28.3: List of Factors to Be Considered in Determining Whether an Organization Would Typically Need to Purchase Services if Not Provided by Donation
    9. Appendix 28.4: Factors to Be Considered in Assessing Whether a Donor Has Made a Bona Fide Pledge to a Donee
    10. Appendix 28.5: List of Factors to Be Considered in Deciding Whether a Gift or Pledge Subject to Donor Stipulations Is Conditional or Restricted
    11. Appendix 28.6: Consideration of Whether Items May Be Reported as Operating or Nonoperating
    12. Appendix 28.7: Not-for-Profit Accounting Literature: Cross-References Between the ASC Topics and Previous Guidance
  15. Chapter 29: Cost-Volume-Revenue Analysis for Nonprofit Organizations
    1. 29.1 Questions Answered by CVR Analysis
    2. 29.2 Analysis of Revenues
    3. 29.3 Analysis of Cost Behavior
    4. 29.4 CVR Analysis with Variable Revenue Only
    5. 29.5 Break-Even Analysis
    6. 29.6 CVR Analysis with Fixed Revenue Only
    7. 29.7 CVR Analysis with Variable and Fixed Revenues
    8. 29.8 Program Mix Analysis
    9. 29.9 Management Options
    10. 29.10 Sources and Suggested References
  16. Chapter 30: Financial Institutions
    1. 30.1 Overview
    2. 30.2 Banks and Savings Institutions
    3. 30.3 Mortgage Banking Activities
    4. 30.4 Investment Companies
    5. 30.5 Sources and Suggested References
  17. Chapter 31: Real Estate and Construction
    1. 31.1 Real Estate Industry
    2. 31.2 Real Estate Transactions
    3. 31.3 Capitalized Cost of Real Estate
    4. 31.4 Allocation of Costs
    5. 31.5 Valuation Issues
    6. 31.6 Construction Revenue Recognition
    7. 31.7 Operations of Properties in Use
    8. 31.8 Accounting for Investments in Real Estate Ventures
    9. 31.9 Financial Reporting
    10. 31.10 Sources and Suggested References
  18. Chapter 32: Federal Government Accounting, Budgeting, and Auditing
    1. 32.1 Federal Government Organization
    2. 32.2 Federal Financial Management
    3. 32.3 Federal Financial Reporting
    4. 32.4 Federal Budget Process
    5. 32.5 Auditing in the Federal Government
    6. 32.6 Emerging Issues
    7. 32.7 Conclusion
    8. Appendix A: Selected Financial Management Legislation
    9. Appendix B: Important Budgetary Accounting Terms
  19. Chapter 33: State and Local Government Accounting
    1. 33.1 Introduction
    2. 33.2 Nature and Organization of State and Local Government Activities
    3. 33.3 Source of Accounting Principles for State and Local Government Accounting
    4. 33.4 Governmental Accounting Principles and Practices
    5. 33.5 Basic Financial Statements Required for Special-Purpose Governments
    6. 33.6 Accounting Principles and Practices—Public Colleges and Universities
    7. 33.7 Audits of Governmental Units
    8. 33.8 Concluding Remarks
    9. 33.9 Sources and Suggested References
    10. Appendix Pronouncements on State and Local Government Accounting
  20. Chapter 34: Oil, Gas, and Other Natural Resources
    1. 34.1 Introduction
    2. 34.2 Oil and Gas Exploration and Producing Operations
    3. 34.3 Accounting for Joint Operations
    4. 34.4 Acceptable Accounting Methods
    5. 34.5 Accounting for Natural Gas Imbalances
    6. 34.6 Hard-Rock Mining
    7. 34.7 Accounting for Mining Costs
    8. 34.8 Accounting for Mining Revenues
    9. 34.9 Supplementary Financial Statement Information—Ore Reserves
    10. 34.10 Accounting for Income Taxes
    11. 34.11 Financial Statement Disclosures
    12. 34.12 Sources and Suggested References
  21. Chapter 35: Health Care Organizations
    1. 35.1 The Health Care Industry
    2. 35.2 Authoritative Pronouncements
    3. 35.3 Accounting Principles
    4. 35.4 Special Accounting Problems of Specific Types of Providers
    5. 35.5 Financial Statements
    6. 35.6 Statutory/Regulatory Reporting Issues
    7. 35.7 Sources and Suggested References
  22. Chapter 36: Regulated Utilities
    1. 36.1 Nature and Characteristics of Regulated Utilities
    2. 36.2 History of Regulation
    3. 36.3 Regulatory Commission Jurisdictions
    4. 36.4 Traditional Rate-Making Process
    5. 36.5 Interrelationship of Regulatory Reporting and Financial Reporting
    6. 36.6 Accounting Standards Codification 980, Regulated Operations
    7. 36.7 ASC Topic 980-360-35, Cost Disallowances
    8. 36.8 ASC Topic 980-340, Other Assets and Deferred Costs
    9. 36.9 Discontinuation of Rate-Regulated Accounting: ASC Topic 980-20
    10. 36.10 Other Specialized Utility Accounting Practices
    11. 36.11 Sources and Suggested References
  23. Chapter 37: Producers or Distributors of Films
    1. 37.1 History of Guidance
    2. 37.2 Revenue Reporting
    3. 37.3 Costs and Expenses
    4. 37.4 Presentation and Disclosure
  24. Chapter 38: Estates and Trusts
    1. 38.1 Estates—Legal Background
    2. 38.2 Accounting for Estates
    3. 38.3 Trusts and Trustees—Legal Background
    4. 38.4 Accounting for Trusts
    5. 38.5 Sources and Suggested References
  25. Chapter 39: Bankruptcy
    1. 39.1 Overview
    2. 39.2 Alternatives Available to Troubled Companies
    3. 39.3 General Provisions of Bankruptcy Code
    4. 39.4 Handling of Claims Under Chapter 11
    5. 39.5 Operating Under Chapter 11
    6. 39.6 Chapter 11 Plan
    7. 39.7 Reporting Requirements in Bankruptcy Cases
    8. 39.8 Sources and Suggested References
  26. Chapter 40: Detecting Fraud
    1. 40.1 Introduction
    2. 40.2 Types of Fraud
    3. 40.3 Fighting Fraud: An Overview
    4. 40.4 Fraud Detection: The Earliest Approaches
    5. 40.5 Fraud Detection: The Red-Flag Approach
    6. 40.6 Management and the Board of Directors
    7. 40.7 Relationships with Others
    8. 40.8 Organization and Industry
    9. 40.9 Financial Results and Operating Characteristics
    10. 40.10 Strategic Fraud Detection
    11. 40.11 Conclusion
  27. Chapter 41: Forensic Accounting in Litigation Consulting Services, Investigations, and Compliance Matters
    1. 41.1 Introduction
    2. 41.2 Accountant's Role in Dispute Resolution Proceedings
    3. 41.3 Accountant's Role in Investigations and Compliance Matters
    4. 41.4 Globalization Impact
  28. Chapter 42: Introduction to E-Discovery
    1. 42.1 Computers? Now, That Changes Everything!
    2. 42.2 Shift to Digital Data Storage and Communication
    3. 42.3 Increasing Data Volumes
    4. 42.4 Increased Value of Digital Data
    5. 42.5 Going After Evidence
    6. 42.6 The Legal Setting
    7. 42.7 Today's Use of Electronic Discovery Techniques
    8. 42.8 More/Better Substantive Information (Metadata)
    9. 42.9 Audit Trails (Traffic Data)
    10. 42.10 Faster/Better/Cheaper
    11. 42.11 Role of Computer Forensics
    12. 42.12 Evidence Preservation
    13. 42.13 Physical Imaging versus Logical Backups
    14. 42.14 Forensic Recordkeeping
    15. 42.15 Acquisition Notes
    16. 42.16 Chain-of-Custody Documentation
    17. 42.17 Analysis Workpapers
    18. 42.18 Get the “Whole Enchilada”
    19. 42.19 Evidence Discovery
    20. 42.20 Data Searching
    21. 42.21 Deleted/Slack/Unallocated Space
    22. 42.22 Conclusion
  29. Chapter 43: Financial Expert Witness Challenges and Exclusions: Results and Trends in Federal and State Cases since Kumho Tire
    1. 43.1 Introduction
    2. 43.2 Methodology and Overview of Observations and Conclusions
    3. 43.3 Expert Witness Challenges and Exclusions: 2000–2002
    4. 43.4 Reasons Financial Experts Were Excluded: Relevance, Reliability, and Qualifications
    5. 43.5 Exclusion of Plaintiff Financial Experts
    6. 43.6 Types of Financial Experts Excluded
    7. 43.7 June 30, 2003 Update: Observations
    8. 43.8 Summary and Conclusions
    9. 43.9 Final Comments Relevant to the Certified Public Accountant Designation
  30. Index