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 2021 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 graphics 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 credit losses, inventory, financial instruments, leases, and revenue - 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 2021 is your one-stop resource for staying up-to-date with constantly-changing guidelines—providing the insight and guidance accounting professionals need. Accounting The most practical, authoritative guide to GAAP Wiley GAAP 2021 contains complete coverage of the Financial Accounting Standards Board’s (FASB) Accounting Standards Codification ® (ASC), the source of authoritative generally accepted accounting principles (GAAP). Wiley GAAP renders GAAP more understandable and accessible for research and has been designed to reduce the amount of time and effort needed to solve accounting research and implementation issues. The 2021 edition reflects the new FASB guidance on: Revenue recognition - Leases - Business combinations - Pensions - Financial instruments - And more than 17 other new FASB Accounting Standards Updates Providing interpretive guidance, analytical explanations, graphic tools, and more than 300 real-world, examples and illustrations, this invaluable guide offers clear, user-friendly guidance on every ASC topic in the codification. Offers insight into the application of complex financial reporting rules - Contains a detailed index for easy reference use - Includes comprehensive cross-referencing to the FASB codification system, making it efficient for you to perform in-depth research As a bonus, a comprehensive, downloadable, disclosure checklist offers practical guidance to preparing financial statements for commercial entities in accordance with GAAP. For easy reference and research, the checklist follows the order of the codification. With easy-to-access information, Wiley GAAP offers complete coverage of the FASB codification. Accounting The most practical, authoritative guide to GAAP Wiley GAAP 2021 contains complete coverage of the Financial Accounting Standards Board’s (FASB) Accounting Standards Codification ® (ASC), the source of authoritative generally accepted accounting principles (GAAP). Wiley GAAP renders GAAP more understandable and accessible for research and has been designed to reduce the amount of time and effort needed to solve accounting research and implementation issues. The 2021 edition reflects the new FASB guidance on: Revenue recognition - Leases - Business combinations - Pensions - Financial instruments - And more than 17 other new FASB Accounting Standards Updates Providing interpretive guidance, analytical explanations, graphic tools, and more than 300 real-world, examples and illustrations, this invaluable guide offers clear, user-friendly guidance on every ASC topic in the codification. Offers insight into the application of complex financial reporting rules - Contains a detailed index for easy reference use - Includes comprehensive cross-referencing to the FASB codification system, making it efficient for you to perform in-depth research As a bonus, a comprehensive, downloadable, disclosure checklist offers practical guidance to preparing financial statements for commercial entities in accordance with GAAP. For easy reference and research, the checklist follows the order of the codification. With easy-to-access information, Wiley GAAP offers complete coverage of the FASB codification. Joanne M. Flood , MBA, CPA, (Rockville Centre, NY) has accounting experience within both a Big 4 international firm and a small firm. She has worked as a senior manager in the AICPA's Professional Development group. Joanne received her MBA in Accounting Summa Cum Laude from Adelphi University. While in public accounting, she worked on major clients in retail, manufacturing, and finance and on small business clients in construction, manufacturing, and professional services. At the AICPA, she