Title Details

About the Author ix

About the Online Resources xi

Codification Taxonomy xiii

1 Researching GAAP Matters 1

2 Statement of Financial Position 29

3 Statements of Income and Comprehensive Income 55

4 Statement of Cash Flows 89

5 Accounting Policies, Changes, and Restatements 105

6 Fair Value 141

7 Cash, Receivables, and Prepaid Expenses 177

8 Short-Term Investments and Financial Instruments 235

9 Inventory 305

10 Revenue Recognition—Evolving Principles and Specialized Applications 347

Revenue Recognition—General Principles 349

Long-Term Construction Contracts 357

Service Revenues 372

Sales When Collection Is Uncertain 380

Revenue Recognition When Right of Return Exists 387

Profit Recognition on Real Estate Sales 391

Real Estate Operations 412

Franchising: Accounting by Franchisors 416

Other Special Accounting and Reporting Issues 421

11 Long-Lived Assets 431

12 Long-Term Investments 495

13 Business Combinations and Consolidated Financial Statements 587

14 Current Liabilities and Contingencies 671

15 Long-Term Liabilities 697

16 Leases 747

17 Research and Development 823

18 Nonmonetary Transactions 829

19 Income Taxes 839

20 Pensions and Other Postretirement Benefits 913

21 Stockholders' Equity 963

Appendix A: Financial Statement Presentation 1034

22 Earnings Per Share 1037

Appendix: Comprehensive Example 1063

23 Interim Reporting 1067

24 Segment Reporting 1081

25 Foreign Currency 1091

Appendix: Accounts to Be Remeasured Using Historical Exchange

Rates 1119

26 Personal Financial Statements 1121

Appendix: Hypothetical Set of Personal Financial Statements 1126

27 Specialized Industry GAAP 1129

Banking and Thrift 1131

Broadcasting 1146

Cable Television 1150

Casinos 1153

Computer Software Developers 1154

Employee Benefit Plans, Including Pension Funds 1163

Finance Companies 1171

Government Contractors 1175

Insurance 1177

Investment Companies 1188

Mortgage Banking 1194

Motion Pictures 1201

Not-for-Profit Organizations 1211

Oil and Gas Producers 1226

Recording and Music 1228

Regulated Operations 1231

Title Plant 1235

Appendix A: Disclosure Checklist for Commercial Businesses 1237

Index 1301