Now fully updated and at your fingertips the most practical,authoritative guide to implementing GAAP Get the answers you needto prepare financial statements and keep up to date on the latestFASB requirements. Now fully revised and updated, Wiley GAAPPolicies and Procedures, Second Edition is an ideal companion tothe Wiley GAAP guide and provides the practical applicationinformation essential to ensuring that a company's accountingsystems are fully capable of incorporating the most recent GAAP. Aconcise version of the more detailed GAAP found in the Wiley GAAPguides, Wiley GAAP Policies and Procedures, Second Edition featureshandy, illustrative decision trees showing how to determine whichGAAP ruling to use in a variety of situations, eliminating hours oftime wading through detailed GAAP rulings and presents: * New chapters on interim reporting, segment reporting, andaccounting changes and correction of errors * Updated content on FAS No. 151, Inventory Costs, FAS No. 153,Exchanges of Non-monetary Assets, FAS No. 154, Accounting Changesand Error Correction, FAS No. 156, Servicing of FinancialAssets * Implementation on nineteen newly issued EITFs * Specific accounting policies that comply with GAAP, especially interms of creating controls that mesh with GAAP * The most common accounting transactions modified to work withinGAAP restrictions * Specific controls that allow the maximum level of control overaccounting systems while remaining in compliance with GAAP * Templates for forms and reports that can be used in aGAAP-compliant accounting system * Numerous examples of footnotes that can be used to describeGAAP-mandated financial disclosures * Hundreds of GAAP-compliant journal entries for most accountingtransactions Wiley GAAP Policies and Procedures, Second Edition is a valuabletool for CFOs, controllers, accounting managers, and general ledgeraccountants who need to ensure that their company properly treatsall types of accounting transactions in accordance with GAAP.