Wiley GAAP 2026: Interpretation and Application of Generally Accepted Accounting Principles

Preface ix
About the Author xi
Codification Taxonomy xiii

1 ASC 105 Generally Accepted Accounting Principles 1
2 ASC 205 Presentation of Financial Statements 27
3 ASC 210 Balance Sheet 39
4 ASC 215 Statement of Shareholder Equity 49
5 ASC 220 Income Statement—Reporting Comprehensive Income 51
6 ASC 230 Statement of Cash Flows 69
7 ASC 235 Notes to Financial Statements 93
8 ASC 250 Accounting Changes and Error Corrections 101
9 ASC 255 Changing Prices 121
10 ASC 260 Earnings per Share 125
11 ASC 270 Interim Reporting 159
12 ASC 272 Limited Liability Entities 171
13 ASC 274 Personal Financial Statements 175
14 ASC 275 Risks and Uncertainties 183
15 ASC 280 Segment Reporting 187
16 ASC 310 Receivables 199
17 ASC 320 Investments—Debt Securities 217
18 ASC 321 Investments—Equity Securities 231
19 ASC 323 Investments—Equity Method and Joint Ventures 237
20 ASC 325 Investments—Other 267
21 ASC 326 Financial Instruments—Credit Losses 273
22 ASC 330 Inventory 289
23 ASC 340 Other Assets and Deferred Costs 329
24 ASC 350 Intangibles—Goodwill and Other 343
25 ASC 360 Property, Plant, and Equipment 379
26 ASC 405 Liabilities 405
27 ASC 410 Asset Retirement and Environmental Obligations 413
28 ASC 420 Exit or Disposal Cost Obligations 433
29 ASC 430 Deferred Revenue and Contract Liabilities 439
30 ASC 440 Commitments 441
31 ASC 450 Contingencies 445
32 ASC 460 Guarantees 453
33 ASC 470 Debt 463
34 ASC 480 Distinguishing Liabilities from Equity 495
35 ASC 505 Equity 509
36 ASC 605 Revenue Recognition 533
37 ASC 606 Revenue from Contracts with Customers 541
38 ASC 610 Other Income 615
39 ASC 705 Cost of Sales and Services 621
40 ASC 710 Compensation—General 625
41 ASC 712 Compensation—Nonretirement Postemployment Benefits 631
42 ASC 715 Compensation—Retirement Benefits 635
43 ASC 718 Compensation—Stock Compensation 677
44 ASC 720 Other Expenses 721
45 ASC 730 Research and Development 729
46 ASC 740 Income Taxes 735
47 ASC 805 Business Combinations 793
48 ASC 808 Collaborative Arrangements 845
49 ASC 810 Consolidations 857
50 ASC 815 Derivatives and Hedging 895
51 ASC 820 Fair Value Measurements 969
52 ASC 825 Financial Instruments 991
53 ASC 830 Foreign Currency Matters 999
54 ASC 832 Government Assistance 1021
55 ASC 835 Interest 1025
56 ASC 842 Leases 1045
57 ASC 845 Nonmonetary Transactions 1081
58 ASC 848 Reference Rate Reform 1093
59 ASC 850 Related Party Disclosures 1099
60 ASC 852 Reorganizations 1103
61 ASC 853 Service Concession Arrangements 1109
62 ASC 855 Subsequent Events 1111
63 ASC 860 Transfers and Servicing 1115
64 ASC 900s Specialized Industry GAAP 1151

Appendix A: Definitions of Terms 1255
Appendix B: Disclosure and Presentation Checklist for Commercial Businesses 1299

Index 1301