Includes index.

"Hundreds of meaningful, realistic examples guide users in the application of GAAP to the complex fact situations that must be dealt with in the real world practice of accounting. In addition to this emphasis, a major strength of the book is that it explains the theory of GAAP in sufficient detail to serve as a valuable adjunct to accounting textbooks. Much more than merely a reiteration of currently promulgated GAAP, it provides the user with the underlying conceptual bases for the rules. It facilitates the process of reasoning by analogy that is so necessary in dealing with the complicated, fast-changing world of commercial arrangements and transaction structures. It is based on the author's belief that proper application of GAAP demands an understanding of the logical underpinnings of all its technical requirements. As a bonus, a comprehensive presentation and disclosure checklist, available online to all Wiley GAAP purchasers, offers practical guidance on preparing financial statements for commercial entities in accordance with GAAP. For easy reference and research, the checklist also follows the order of the Codification. Go to www.wiley.com/go/GAAP2020 (see Appendix B for password). The author's wish is that this book will serve preparers, practitioners, faculty, and students as a reliable reference tool to facilitate their understanding of, and ability to apply, the complexities of the authoritative literature."--