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GAAP Financial Statement Disclosures Manual (2020-2021)

GAAP Financial Statement Disclosures Manual (2020-2021)

  • Author:
  • Publisher: CCH U.S.
  • ISBN: 9780808054634
  • Published In: August 2020
  • Format: Paperback , 1210 pages
  • Jurisdiction: U.S. ? Disclaimer:
    Countri(es) stated herein are used as reference only
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  • Description 
  • Contents 
  • Author 
  • Details

    For busy tax professionals who need a comprehensive reference on financial statement disclosures and key presentation requirements, the GAAP Financial Statement Disclosures Manual (2020-2021) is the answer. Published by Wolters Kluwer, this convenient, well-organized guide provides over 750 samples of realistic footnote disclosures, which are thoroughly illustrated to assist tax preparers with financial statements for audits, reviews, or compilation engagements.

    Features of GAAP Financial Statement Disclosures Manual (2020-2021)

    From highly common situations to the most unusual scenarios, GAAP Financial Statement Disclosures Manual (2020-2021) is packed with sample disclosures that are complete, understandable, and technically sound. To facilitate compliance with the U.S. GAAP, the book integrates specific disclosure and presentation requirements with sample footnotes within each chapter. It covers currently effective accounting standards at all levels of difficulty spanning the following areas:

     

     

    • Revenue recognition

       

       

    • Financial instruments

       

       

    • Fair value

       

       

    • Business combinations

       

       

    • Consolidation

       

       

    • Income taxes

       

       

    • Pensions

       

       

    • Leases

       

       

    • Accounting changes

       

       

    • Variable interest entities

       

      Promoting ease of use, each chapter provides comprehensive information on one specific topic, making the manual the ultimate desktop reference for tax professionals. Each chapter contains the following:

       

       

    • A clear and concise executive summary

       

       

    • Authoritative accounting literature

       

       

    • Disclosure (FASB ASC Section 50) and key presentation requirements (FASB ASC Section 45)

       

       

    • Specific references to FASB ASC paragraphs prescribing specific disclosures or key presentation requirements

       

       

    • Examples of financial statement disclosures that cover different scenarios

       

       

    • All presented financial statements are for the year ended December 31, 2020

       

      Benefits of Using GAAP Financial Statement Disclosures Manual (2020-2021)

      The manual is authored by George Georgiades, CPA, who boasts over 29 years of experience in public accounting and drew from his extensive experience locally, regionally, nationally, and internationally to form this guide. He also belongs to the American Institute of Certified Public Accountants and the California Society of CPAs, so readers can trust that all information is coming from a trustworthy, reputable source.

       

      Consistent with the Codification’s structural organization, the GAAP Financial Statement Disclosures Manual, (2020-2021) is thoughtfully organized to be easy for readers to navigate. Current through FASB Accounting Standards Update No. 2019-03, Non-for-Profit Entities (Topic 958): Updating the Definition of Collections, it is arranged into the following major sections:

       

      Part 1: General Principles (ASC Topics 100s)

       

      Part 2: Presentation (ASC Topics 200s)

       

      Part 3: Assets (ASC Topics 300)

       

      Part 4: Liabilities (ASC Topics 400s)

       

      Part 5: Equity (ASC Topics 500s)

       

      Part 6: Revenue (ASC Topics 600s)

       

      Part 7: Expenses (ASC Topics 700s)

       

      Part 8: Broad Transactions (ASC Topics 800s)

       

      To quickly find specific materials within the manual, readers can utilize its cross-reference guide, which reveals the location of the pronouncement in question. Additionally, an index serves as a fast page reference, all adding up to saving professionals time on sifting through second-rate research.

  • The GAAP Financial Statement Disclosures Manual includes the following topics:

    • Part I General Principles
      • Chapter 1. ASC Topic 105: Generally Accepted Accounting Principles
    • Part II Presentation
      • Chapter 2. ASC Topic 205: Presentation of Financial Statements
      • Chapter 3. ASC Topic 210: Balance Sheet Chapter 4. ASC Topic 215: Statement of Shareholder Equity
      • Chapter 5. ASC Topic 220: Comprehensive Income Chapter 6. ASC Topic 225: Income Statement
      • Chapter 7. ASC Topic 230: Statement of Cash Flows
      • Chapter 8. ASC Topic 235: Notes to Financial Statements
      • Chapter 9. ASC Topic 250: Accounting Changes and Error Corrections
      • Chapter 10. ASC Topic 255: Changing Prices Chapter 11. ASC Topic 260: Earnings Per Share
      • Chapter 12. ASC Topic 270: Interim Reporting
      • Chapter 13. ASC Topic 272: Limited Liability Entities
      • Chapter 14. ASC Topic 275: Risks and Uncertainties
      • Chapter 15. ASC Topic 280: Segment Reporting
    • Part III Assets
      • Chapter 16. ASC Topic 305: Cash and Cash Equivalents
      • Chapter 17. ASC Topic 310: Receivables
      • Chapter 18. ASC Topic 320: InvestmentsDebt and Equity Securities
      • Chapter 19. ASC Topic 323: InvestmentsEquity Method and Joint Ventures
      • Chapter 20. ASC Topic 325: InvestmentsOther
      • Chapter 21. ASC Topic 330: Inventory
      • Chapter 22. ASC Topic 340: Other Assets and Deferred Costs
      • Chapter 23. ASC Topic 350: IntangiblesGoodwill and Other
      • Chapter 24. ASC Topic 360: Property, Plant, and Equipment
    • Part IV Liabilities
      • Chapter 25. ASC Topic 405: Liabilities
      • Chapter 26. ASC Topic 410: Asset Retirement and Environmental Obligations
      • Chapter 27. ASC Topic 420: Exit or Disposal Cost Obligations
      • Chapter 28. ASC Topic 430: Deferred Revenue
      • Chapter 29. ASC Topic 440: Commitments
      • Chapter 30. ASC Topic 450: Contingencies
      • Chapter 31. ASC Topic 460: Guarantees
      • Chapter 32. ASC Topic 470: Debt
      • Chapter 33. ASC Topic 480: Distinguishing Liabilities from Equity
    • Part V Equity
      • Chapter 34. ASC Topic 505: Equity
    • Part VI Revenue
      • Chapter 35. ASC Topic 605: Revenue Recognition
    • Part VII Expenses
      • Chapter 36. ASC Topic 705: Cost of Sales and Services
      • Chapter 37. ASC Topic 710: CompensationGeneral
      • Chapter 38. ASC Topic 712: CompensationNonretirement Postemployment Benefits
      • Chapter 39. ASC Topic 715: CompensationGeneral
      • Chapter 40. ASC Topic 718: CompensationNonretirement Postemployment Benefits
      • Chapter 41. ASC Topic 720: Other Expenses
      • Chapter 42. ASC Topic 730: Research and Development
      • Chapter 43. ASC Topic 740: Income Taxes
    • Part VIII Broad Transactions
      • Chapter 44. ASC Topic 805: Business Combinations
      • Chapter 45. ASC Topic 808: Collaborative Arrangements
      • Chapter 46. ASC Topic 810: Consolidation
      • Chapter 47. ASC Topic 815: Derivatives and Hedging
      • Chapter 48. ASC Topic 820: Fair Value Measurement
      • Chapter 49. ASC Topic 825: Financial Instruments
      • Chapter 50. ASC Topic 830: Foreign Currency Matters
      • Chapter 51. ASC Topic 835: Interest
      • Chapter 52. ASC Topic 840: Leases
      • Chapter 53. ASC Topic 845: Nonmonetary Transactions
      • Chapter 54. ASC Topic 850: Related Party Transactions
      • Chapter 55. ASC Topic 852: Reorganizations
      • Chapter 56: ASC Topic 853: Service Concession Arrangements
      • Chapter 57. ASC Topic 855: Subsequent Events
      • Chapter 58. ASC Topic 860: Transfers and Servicing
    • Part IX Other
      • Chapter 59. ASC Topic 915: Development Stage Entities
      • Chapter 60. Going Concern
    • Accounting Resources on the Web
    • Cross-Reference to Pre-Codification Accounting Literature
    • Index I
  • George Georgiades, CPA, has more than 29 years of experience in public accounting, including seven years as an audit senior manager with a major international accounting firm. He currently has his own firm and consults exclusively with CPA firms on technical accounting, auditing, and financial statement disclosures issues.

    In writing this Manual, Mr. Georgiades has capitalized on the extensive experience he has gained from association with clients and with international, national, regional, and local accounting firms. He has been personally involved in more than 600 audit engagements and related financial statements of both small, closely held companies and large, publicly held enterprises. He has personally conducted more than 75 peer reviews, consulting reviews, and inspections. He also brings extensive hands-on experience in performing independent technical reviews of financial statements.

    Mr. Georgiades is also the author of Audit Procedures, GAAS Practice Manual, and the GAAS Update Service. He is a member of the American Institute of Certified Public Accountants and the California Society of CPAs, and served on the California Society of CPA's Peer Review Committee.

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