The most comprehensive guide to US GAAP―thoroughly updated to reflect the latest pronouncements US GAAP is constantly being updated, requiring its users to be armed with expert interpretation and explanation of the relevant principles. Wiley GAAP 2022 provides the most complete coverage of all Financial Accounting Standards Board (FASB) Topics―including the latest updates. Each chapter includes discussion of perspectives and issues, sources of GAAP, practice-oriented examples, and accurate definitions of terms, concepts, and rules. Every FASB Topic is fully explained in a clear, reader-friendly way with dynamic graphic to aid in understanding complex topics. Extensively updated to reflect all current US GAAP changes, this indispensable book: Reviews the latest changes to accounting principles, including inventory, financial instruments, leases, debt, and goodwill - Offers expert guidance on issues surrounding specific pronouncements - Includes comprehensive cross-references and topic-specific appendices - Explains how the standards apply to common real-world scenarios - Clarifies implementation through numerous illustrations and practical examples Accurate and up-to-date GAAP implementation is crucial for eliminating the risk of noncompliance. Wiley GAAP 2022 is your one-stop resource for staying up-to-date with constantly-changing guidelines―providing the insight and guidance accounting professionals need. Accounting A fully updated, comprehensive guide to GAAP With complete coverage of the Financial Accounting Standards Board’s Codification ™ , including the latest updates, Wiley GAAP 2022 is the perfect source for practicing accountants and financial professionals seeking accurate and efficient guidance. It also serves as a handy reference for anyone studying for the financial accounting and reporting section of the CPA exam. Delivering simple explanations and real-world examples, every chapter in the Guide incorporates the relevant GAAP principles along with authoritative guidance on their application, terminology, relevant concepts, and applicable rules. The Guide offers detailed discussions of each codification Topic, with information covering a variety of scenarios. And the entire work is comprehensively cross-referenced for easy researching. The 2022 Guide contains in-depth coverage of recent changes to these topics and more: Leases - Credit losses - Goodwill impairment - Income taxes - Not-for-profits Extensive graphic tools and over 300 practical examples explain how GAAP―and the latest changes to it―apply in the real world. As a bonus, a comprehensive downloadable disclosure checklist offers guidance in preparing financial statements in accordance with GAAP! Joanna Flood, MBA, CPA, has worked with small business and large enterprise clients. She has worked for a Big 4 international firm and a small firm. Formerly a senior manager in the AICPA’s Professional Development Group, Joanne has produced training materials on accounting in a wide variety of media.