Wiley GAAP: Financial Statement Disclosure Manual Wiley Regulatory Reporting Series

Financial Statement Disclosures Manual is a natural complement to Wiley GAAP, providing a complete set of tools for statement preparation. This useful reference is formatted in accordance with FASB Accounting Standards Codification® (ASC) schema, with information delineated as Presentation, Assets, Liabilities, Equity, Revenue, Expenses, and Broad Transactions. When used with other Wiley GAAP resources, this arrangement helps users perform additional research and easily find more detailed information on requirements, with disclosures referenced to FASB's ASC. Explicit examples enable easy customization, streamlining the statement preparation process and potentially improving the effectiveness of disclosures with clear presentation of information that is most important to users.

Determining the correct wording and presentation formats for disclosures is a time consuming effort. Standards are continually updated, and the latest changes to revenue recognition impact virtually all financial statements. This book is a guide to enhanced disclosure as standardized by FASB, and works in conjunction with other Wiley GAAP products to provide a complete professional reference.

• Find specific GAAP codification and explanations quickly and easily
• Get up to speed on the latest developments and updates
• Follow references to relevant content in Wiley GAAP and the Disclosure Checklist
• Study expertly-prepared examples to understand GAAP applications

Enhanced disclosure requirements have come about in response to accounting scandals, the proliferation of complicated instruments, and the pressure toward transparency. Keeping abreast of the latest developments ? and their applications and requirements ? is an essential but time-consuming part of the accountant's role. Financial Statement Disclosures Manual simplifies statement preparation by providing complete disclosures information, cross-referenced to relevant GAAP information and tools.

Preface ix

About the Author xi

1 ASC 105 Generally Accepted Accounting Principles 1

2 ASC 205 Presentation of Financial Statements 5

3 ASC 210 Balance Sheet 27

4 ASC 215 Statement of Shareholder Equity 45

5 ASC 220 Income Statement—Reporting Comprehensive Income 47

6 ASC 230, Statement of Cash Flows 63

7 ASC 235 Notes to Financial Statements 77

8 ASC 250 Accounting Changes and Error Corrections 99

9 ASC 255 Changing Prices 121

10 ASC 260 Earnings Per Share 125

11 ASC 270 Interim Reporting 139

12 ASC 272 Limited Liability Entities 149

13 ASC 274 Personal Financial Statements 153

14 ASC 275 Risks and Uncertainties 159

15 ASC 280 Segment Reporting 169

16 ASC 310 Receivables 177

17 ASC 320 Investments—Debt Securities 195

18 ASC 321 Investments—Equity Securities 209

19 ASC 323 Investments—Equity Method and Joint Ventures 217

20 ASC 325 Investments—Other 231

21 ASC 326 Financial Instruments—Credit Losses 239

22 ASC 330 Inventory 251

23 ASC 340 Other Assets and Deferred Costs 261

24 ASC 350 Intangibles—Goodwill and Other 269

25 ASC 360 Property, Plant, and Equipment 291

26 ASC 405 Liabilities 303

27 ASC 410 Asset Retirement and Environmental Obligations 309

28 ASC 420 Exit or Disposal Cost Obligations 323

29 ASC 430 Deferred Revenue and Contract Liabilities 331

30 ASC 440 Commitments 333

31 ASC 450 Contingencies 339

32 ASC 460 Guarantees 349

33 ASC 470 Debt 359

34 ASC 480 Distinguishing Liabilities from Equity 377

35 ASC 505 Equity 387

36 ASC 605 Revenue Recognition 409

37 ASC 606 Revenue from Contracts with Customers 411

38 ASC 610 Other Income 443

39 ASC 705 Cost of Sales and Services 449

40 ASC 710 Compensation—General 451

41 ASC 712 Compensation—Nonretirement Postemployment Benefits 457

42 ASC 715 Compensation—Retirement Benefits 459

43 ASC 718 Compensation—Stock Compensation 489

44 ASC 720 Other Expenses 499

45 ASC 730 Research and Development 507

46 ASC 740 Income Taxes 513

47 ASC 805 Business Combinations 529

48 ASC 808 Collaborative Arrangements 551

49 ASC 810 Consolidations 563

50 ASC 815 Derivatives and Hedging 587

51 ASC 820 Fair Value Measurement 619

52 ASC 825 Financial Instruments 627

53 ASC 830 Foreign Currency Matters 641

54 ASC 835 Interest 649

55 ASC 840 Leases 657

56 ASC 842 Leases 665

57 ASC 845 Nonmonetary Transactions 685

58 ASC 848 Reference Rate Reform 691

59 ASC 850 Related-Party Disclosures 699

60 ASC 852 Reorganizations 707

61 ASC 853 Service Concession Arrangements 729

62 ASC 855 Subsequent Events 733

63 ASC 860 Transfers and Servicing 739

Index 751

Joanne M. Flood, CPA, has experience as an auditor in an international firm and a small firm plus twenty years of experience at the AICPA managing, developing, and writing accounting and auditing training materials. She pioneered the AICPA’s e-learning product line and spearheaded the development of the AICPA online IFRS Certificate Program.