Gaap Handbook of Policies and Procedures, 2000 Ed.

Note: Supplemental materials are not guaranteed with Rental or Used book purchases.

ISBN: 9780130124173 | 0130124176
Cover:
Copyright: 1/1/2000

Sorry, this item is currently not available.

Provides the most complete and user-friendly source of on-the-job help you can get. Presents step-by-step guidelines and examples spanning the full range of topics in financial accounting. Softcover. CD-ROM included. DCL: Accounting--Standards.

What This Book Will Do for You

PART I FINANCIAL STATEMENTS

Financial Statement Reporting: Reporting, Presentation, and Disclosures for the Income Statement

(98)

Revenue, Expenses, Gains and Losses

(3)

Income Statement Presentation Before Income from Continuing Operations

(3)

Income Statement Presentation Starting with Income from Continuing Operations

(1)

Comprehensive Income

(4)

Extraordinary Gains and Losses

(2)

Nonrecurring Gains or Losses

(1)

Discontinued Operations

(6)

Disclosures Associated with Operations

(1)

Research and Development Costs

(4)

Compensation Expense Arising from the Stock Issued to Employees

(9)

Stock Option Plans

(7)

Nonvested Stock

(1)

Employee Stock Purchase Plans

(1)

Stock Compensation Awards Required to Be Settled by Paying Cash

(1)

Disclosures

(1)

Tax Aspects

(1)

Deferred Compensation Arrangements

(2)

Advertising Costs

(1)

Insurance Costs

(4)

Life Insurance

(2)

Casualty Insurance

(2)

Restructuring Charges

(1)

Earnings Per Share

(10)

Basic Earnings per Share

(3)

Diluted Earnings per Share

(5)

Business Combinations

(1)

Disclosures

(1)

Annual Report References

(48)

Revenue Recognition

101

(44)

Service Sales Revenue

101

(4)

Revenue Recognition Methods

105

(8)

Realization

105

(1)

At the Completion of Production

106

(1)

During Production

107

(1)

On a Cash Basis

107

(6)

Long-term Construction Contracts

113

(4)

Contract Costs

113

(2)

Contract Types

115

(1)

Aggregating and Segmenting Contracts

116

(1)

Contract Options

116

(1)

Claims

117

(1)

Common Construction Contract Methods

117

(9)

Percentage-of-Completion Method

117

(5)

Completed Contract Method

122

(4)

Government Contract Accounting

126

(1)

Revenue Recognition When A Right of Return Exists

127

(4)

Software Revenue Recognition

131

(1)

Contributions

132

(2)

Warranty and Maintenance Contracts

134

(3)

Annual Report References

137

(8)

Balance Sheet Reporting and Disclosures: Assets

145

(78)

Cash

146

(1)

Receivables

147

(10)

Accounts Receivable

148

(7)

Notes Receivable

155

(1)

Loans Receivable

156

(1)

Impairment of Loans

157

(4)

Determining the Value of an Impaired Loan

157

(2)

Evaluating Loan Collectibility

159

(1)

Income Recognition

160

(1)

Disclosure Requirements

160

(1)

Inventory

161

(16)

Purchase Contract Commitments

162

(1)

Freight Terms

162

(1)

Consigned Goods

163

(1)

Financing Product Arrangements

164

(3)

Financing Product Arrangements---Other Considerations

167

(1)

Lower of Cost or Market Value

168

(1)

Retail Method

169

(1)

Retail Lower of Average Cost or Market Value

170

(1)

Retail LIFO

171

(2)

Dollar Value LIFO

173

(1)

Base Stock Method

173

(1)

Costs Excluded from Inventory

174

(1)

Standard Costing

174

(1)

Relative Sales Value Method

174

(1)

Research and Development

175

(1)

Terminated Contracts

176

(1)

Discontinued Operations

176

(1)

Taxes

176

(1)

Disclosures

176

(1)

Prepaid Expenses

177

(1)

Long-Term Investments

177

(1)

Fixed Assets

177

(21)

Self-Constructed Assets

179

(1)

Donation of Fixed Assets

179

(1)

Writing Up Fixed Assets

180

(1)

Land and Land Improvements

180

(1)

Repairs

181

(1)

Environmental

181

(1)

Depreciation

181

(3)

Capitalized Interest

184

(4)

Nonmonetary Transactions

188

(4)

Impairment of Fixed Assets

192

(5)

Involuntary Conversion

197

(1)

Disclosure

198

(1)

Natural Resources

198

(3)

Intangible Assets

201

(3)

Goodwill

204

(2)

Other Assets

206

(1)

Annual Report References

207

(16)

Balance Sheet Presentation and Disclosures: Liabilities

223

(62)

Introduction to Liabilities

223

(8)

Estimated Liabilities and Contingencies

231

(4)

Risks and Uncertainties

235

(1)

Compensated Absences

236

(2)

Deferred Compensation Agreement

238

(1)

Accounting for Special Termination Benefits (Early Retirement)

238

(2)

Troubled Debt

240

(8)

Accounting by Creditors for Impairment of a Loan

240

(3)

Troubled Debt Restructuring

243

(5)

Refinancing Short-Term Debt to Long-Term Debt

248

(2)

Callable Obligations by the Creditor

250

(1)

Inducement Offer to Convert Debt to Equity

251

(3)

Accounting for Bonds Payable

254

(9)

Early Extinguishment of Debt

263

(4)

Extinguishment of Tax-Exempt Debt

267

(1)

Imputing Interest on Noninterest Notes Payable

267

(3)

Environmental Liabilities

270

(2)

Disclosure of Long-Term Obligations

272

(1)

Commitments

272

(1)

Offsetting Assets and Liabilities

273

(2)

Annual Report References

275

(10)

Balance Sheet Reporting: Stockholders' Equity

285

(48)

Preferred Stock

286

(3)

Common Stock

289

(1)

Stock Retirements

290

(1)

Treasury Stock

291

(3)

Dividends

294

(5)

Appropriation of Retained Earnings

299

(1)

Stock Splits

300

(1)

Stock Warrants

301

(3)

Fractional Share Warrants

304

(1)

Stock Rights

305

(1)

Quasi-Reorganization

305

(2)

Disclosure

307

(1)

Summary

308

(3)

Annual Report References

311

(22)

Statement of Cash Flows

333

(40)

Cash and Cash Equivalents

334

(1)

Reconciliation of Net Income to Cash Flow from Operations

335

(3)

Direct Method

338

(1)

Indirect (Reconciliation) Method

339

(2)

Gross Versus Net Cash Flows

341

(3)

Operating Activities

344

(2)

Investing Activities

346

(1)

Financing Activities

347

(1)

Multiclassification

347

(1)

Noncash Investing and Financing Activities

348

(1)

Special Items in the Income Statement

349

(1)

Agency Arrangements

349

(1)

Hedging Transactions

349

(1)

Foreign Currency Cash Flows

350

(1)

Case Studies

350

(4)

Comprehensive Examples

354

(19)

The Cash Flow Statement Using the Direct Method

354

(3)

Additional Data for Cherry Inc.

357

(3)

FASB Statement Number 95

360

(7)

FASB Statement No. 102: Statement of Cash Flows---Exemption of Certain Enterprises and Classification of Cash Flows from Certain Securities Acquired for Resale

367

(1)

FASB Statement No. 104: Statement of Cash Flows---Not Reporting of Certain Cash Receipts and Cash Payments and Classification of Cash Flow from Hedging Transactions

367

(2)

Annual Report References

369

(4)

Other Financial Statement Types and Related Items

373

(30)

Interim Financial Reports

373

(6)

Revenue and Expense Recognition

375

(1)

Inventory

375

(1)

Taxes

376

(1)

Accounting Changes

377

(1)

Prior Period Adjustments

378

(1)

Disclosures

378

(1)

Personal Financial Statements

379

(2)

Incorporation of a Business

381

(1)

Divestitures

382

(3)

Annual Report References

385

(18)

Disclosures

403

(64)

Disclosure of Accounting Policies

403

(1)

Segmental Reporting

404

(7)

Related Parties

411

(3)

Disclosure of Contingencies and Commitments

414

(1)

Disclosure of Long-Term Purchase Contract Obligations

414

(2)

Development Stage Companies

416

(1)

Reporting on the Costs of Startup Activities

417

(1)

Inflation Information

418

(1)

Disclosures for Derivatives

418

(1)

Annual Report References

419

(48)

PART II MAJOR ACCOUNTING AREAS AND REPORTING

Accounting Changes and Error Corrections

467

(18)

Change in Accounting Principle (Method)

468

(6)

Change in Accounting Estimate

474

(1)

Change in Reporting Entity

475

(1)

Error Corrections

476

(5)

Annual Report References

481

(4)

Investments in Equity and Debt Securities

485

(62)

FASB Statement No. 115 (Market Value Method and Amortized Cost Method)

486

(15)

Trading Securities

486

(3)

Available-for-Sale Securities

489

(6)

Held-to-Maturity Securities

495

(6)

Structured Notes

501

(1)

Bond Quotes

502

(1)

Statement of Cash Flows

502

(1)

General Accounting for Investments

502

(9)

Blocks of Stock

507

(1)

Lump-Sum Purchase

508

(1)

Exchange (Conversion) of Securities

509

(1)

Stock Dividends

509

(1)

Stock Splits

510

(1)

Reclassification Adjustments Relating to Investments

511

(2)

Transfers of Securities Between Categories

513

(3)

Disclosures

516

(1)

Financial Statement Analysis

517

(7)

Equity Method

524

(13)

Appendix: Investment by Banks in Debt Securities

537

(2)

Annual Report References

539

(8)

Business Combinations

547

(40)

Pooling-of-Interests Method

548

(12)

Accounting and Reporting

553

(6)

Disclosures

559

(1)

Advantages and Disadvantages

559

(1)

Purchase Method

560

(15)

Accounting and Reporting

560

(9)

Contingent Considerations

569

(1)

Minority Interest

570

(1)

Pension Aspects

571

(1)

Tax Considerations

571

(1)

Disclosures

571

(2)

Advantage and Disadvantages

573

(2)

Annual Report References

575

(12)

Consolidation

587

(56)

Accounting in Consolidation

589

(8)

Elimination Entries

597

(10)

Minority Interest

607

(4)

Spinoffs

611

(1)

Consolidation Reporting

611

(1)

Taxes

612

(1)

Disclosures

613

(1)

Combined Financial Statements

614

(1)

Comprehensive Examples and Applications

615

(22)

Annual Report References

637

(6)

Leases

643

(64)

Lessee

644

(13)

Operating Method

645

(4)

Capital Lease Method

649

(8)

Lessor

657

(15)

Operating Method

657

(3)

Direct Financing Method

660

(4)

Sales-Type Method

664

(8)

Residual Value Considerations

672

(1)

Transfer of Lease Receivable

673

(1)

Sales-Leaseback

674

(5)

Subleases and Similar Arrangements

679

(1)

Modifications and Terminations

680

(3)

Renewals and Extensions

683

(1)

Leveraged Leases

684

(3)

Related Parties

687

(1)

Money-Over-Money Lease

688

(1)

Third Parties

688

(1)

Wrap Leases

689

(2)

Business Combinations

691

(1)

Disposal of a Business Segment

692

(1)

Current Value Financial Statement

692

(1)

Real Estate Leases

692

(7)

Land Only

693

(1)

Land and Building

694

(2)

Land, Building, and Equipment

696

(1)

Portion of a Building

696

(1)

Sale-Leaseback Involving Real Estate

697

(1)

Subleases

698

(1)

Annual Report References

699

(8)

Pension Plans and other Postretirement Benefit Plans

707

(76)

Pension Plans

707

(36)

Terminology

709

(4)

Defined Contribution Pension Plan

713

(1)

Defined Benefit Pension Plan

714

(6)

Pension Plan Benefit Formula

720

(1)

Types of Methods

721

(1)

Plan Assets

721

(2)

Underfunding or Overfunding

723

(1)

Minimum Pension Liability

724

(9)

Retirement Benefit

733

(1)

Comprehensive Examples

734

(2)

Business Combinations

736

(1)

Discontinued Operations

736

(1)

Employers Having More Than One Defined Benefit Plan

737

(1)

Multiemployer Plans

737

(1)

Multiple-Employer Plans

738

(1)

Annuity (Allocated) Contracts

739

(1)

Disclosures

740

(2)

Financial Statement Analysis

742

(1)

Employee Retirement Income Security Act (ERISA)

743

(1)

Settlement, Curtailment, and Termination

743

(5)

Settlement

743

(3)

Curtailment

746

(1)

Termination

747

(1)

Trustee Reporting in a Defined Benefit Pension Plan

748

(1)

Postretirement Benefit Plans Other than Pensions

749

(4)

Accounting

750

(2)

Disclosures

752

(1)

FASB Statement No. 132: Employers' Disclosures about Pension and Other Postretirement Benefits

753

(1)

Pension Plan Financial Statements

753

(11)

Net Assets Available for Benefits

756

(3)

Statement of Changes in Net Assets Available for Benefits

759

(2)

Actuarial Present Value of Plan Benefits

761

(2)

Changes in Actuarial Present Value of Plan Benefits

763

(1)

Required Disclosures

763

(1)

Employer's Accounting for Postemployment Benefits

764

(1)

Profit Sharing Plans

765

(2)

Annual Report References

767

(16)

Income Tax Accounting

783

(50)

Temporary Differences

784

(3)

Deferred Tax Liability

787

(4)

Deferred Tax Asset

791

(5)

Permanent Differences

796

(2)

Intraperiod Tax Allocation

798

(1)

Balance Sheet Presentation

798

(2)

Income Statement Presentation

800

(1)

Loss Carrybacks

801

(1)

Loss Carryforwards

802

(3)

Tax Rates

805

(3)

Multiple Tax Jurisdictions

808

(1)

Tax Credits

809

(1)

Tax Status Changes

809

(1)

Business Investments

810

(1)

Business Combinations

810

(3)

Separate Financial Statements of a Subsidiary

813

(1)

Leases

813

(1)

Employee Stock Ownership Plans (ESOPs)

814

(1)

Quasi-Reorganization

814

(1)

Disclosures

814

(1)

Indefinite Reversal

815

(1)

Comprehensive Example

816

(3)

Property Taxes

819

(2)

Accounting Requirements

819

(1)

Reporting Requirements

819

(2)

Annual Report References

821

(12)

PART III FOREIGN OPERATIONS AND DERIVATIVE INSTRUMENTS

Foreign Currency Translation and Transactions

833

(36)

Terminology

834

(3)

The Functional Currency

837

(2)

Foreign Currency Transactions

839

(6)

Translation Process

845

(3)

Highly Inflationary Environment in Foreign Country

848

(4)

Hedging

852

(2)

Forward Exchange Contracts

854

(4)

Condition 1

854

(2)

Condition 2

856

(1)

Condition 3

857

(1)

Sale or Liquidation of an Investment in a Foreign Entity

858

(1)

Intercompany Profits

859

(1)

Excluding a Foreign Entity From Financial Statements

859

(1)

Foreign Operations in the United States

860

(1)

Taxes

860

(1)

Disclosures

860

(1)

Summary

861

(2)

Annual Report References

863

(6)

Derivatives, Repurchase Agreements, and Disclosures of Credit Risk and Fair Values: Accounting, Reporting, and Disclosures

869

(76)

Terminology

869

(4)

Background

873

(1)

Derivative Financial Instruments

874

(5)

Recent Developments Related to Derivatives

879

(1)

Concentrations of Credit Risk for All Financial Instruments

880

(2)

Fair Value Disclosures for All Financial Instruments

882

(1)

How to Arrive at Fair Value

883

(2)

Other Related Disclosures for Financial Instruments

885

(8)

Net Trading Gains and Losses

888

(1)

Credit Risk from Trading

889

(4)

Pre-FASB Statement Number 133 Accounting for Derivatives

893

(8)

Forward Foreign Exchange Contracts

893

(8)

Futures Contracts

901

(1)

Post-FASB Statement Number 133 Accounting for Derivatives

901

(10)

Discussion

902

(1)

Definition of Derivative Financial Instrument Under FASB Statement Number 133

903

(1)

Fair Value Hedges

904

(2)

Cash Flow Hedges

906

(2)

Foreign Currency Hedges

908

(1)

Hedge Effectiveness Criteria

909

(1)

Disclosure Requirements under FASB Statement Number 133

909

(2)

Transition to the New Standard

911

(1)

Offsetting of Assets and Obligations

911

(2)

Transfers and Servicing of Financial Assets and Extinguishments of Liabilities

913

(5)

Sale Accounting under FASB Statement Number 125

913

(2)

Mortgage Servicing Rights

915

(2)

Collateral Pledged in Repurchase Agreements and Securities Lending Arrangements

917

(1)

Options on Issuer's Securities

918

(1)

Authoritative Literature

919

(4)

FASB Statement Number 80 Accounting for Futures Contracts

919

(1)

FASB Statement Number 105 Disclosure of Information about Financial Instruments with Off-Balance Sheet Risk and Financial Instruments with Concentrations of Credit Risk

919

(1)

FASB Statement Number 107 Disclosures about Fair Value of Financial Instruments

920

(1)

FASB Statement Number 119 Disclosure about Derivative Financial Instruments and Fair Value of Financial Instruments

920

(1)

FASB Statement Number 125 Accounting for Transfers and Servicing of Financial Assets and Extinguishment of Liabilities

921

(1)

FASB Statement Number 133 Accounting for Derivative Instruments and Hedging Activities

921

(1)

FASB Statement Number 137 Accounting for Derivative Instruments and Hedging Activities---Deferral of the Effective Date of FASB Statement Number 133

921

(1)

FASB Statement Number 39 Offsetting of Amounts Related to Certain Contracts

921

(1)

FASB Statement Number 41 Offsetting of Amounts Related to Certain Repurchase and Reverse Repurchase Agreements

922

(1)

Annual Report References

923

(22)

PART IV GAAP IN SPECIALIZED INDUSTRIES

Accounting in Specialized Industries

945

(122)

Broadcasting Industry

945

(5)

Banking and Thrift Industry

950

(7)

Cable Television

957

(6)

Computer Software Development

963

(5)

Accounting for the Costs of Computer Developed or Obtained for Internal Use

968

(2)

Franchising: Accounting by Franchisors

970

(8)

Insurance Industry

978

(20)

Motion Picture Industry

998

(9)

Record and Music Industry

1007

(3)

Government Contracts

1010

(4)

Oil- and Gas-Producing Activities

1014

(20)

Real Estate Transactions

1034

(17)

Health Care Industry

1051

(3)

Finance Industry

1054

(4)

Investment Industry

1058

(3)

Mortgage Banking Industry

1061

(6)

Self-Study CPE Program

1067

(68)

Index

1135

Please wait while the item is added to your bag...

FREE SHIPPING

Amazon no longer offers textbook rentals. We do!

Gaap Handbook of Policies and Procedures, 2000 Ed.

Summary

Table of Contents

Supplemental Materials