GAAP Financial Statements Disclosures Manual provides a complete, quick, and valuable reference source for financial statement disclosures. The Manual contains more than 900 examples of realistic sample footnote disclosures to assist in the preparation of financial statements for an audit, review, or compilation engagement. It facilitates compliance with authoritative pronouncements by integrating, in each chapter, the specific disclosure requirements with the sample footnotes.

Material can be located several ways: the Cross-Reference shows the chapter in which a particular pronouncement is discussed; the Index provides a quick page reference.

The GAAP Financial Statements Disclosures Manual meets accounting industry standards overseen by the peer review system and contains a document covering the peer review of this book.

A free, companion CD-ROM, included with the book, contains all of the sample disclosures in this edition in Rich Text Format, as well as the expansive financial statement disclosures checklist. All of these documents can be used as templates and modified to fit your needs.

Benefits and Features

Pronouncements Covered:

• Exposure Draft of the proposed FASB Statement on Fair Value Measurements.
• FASB Statement No. 154, Accounting Changes and Error Corrections—A Replacement of APB Opinion No. 20 and FASB Statement No. 3
• FASB Interpretation No. 47, Accounting for Conditional Asset Retirement Obligations—An Interpretation of FASB Statement No. 143
• FASB Technical Bulletin 01-1, Effective Date for Certain Financial Institutions of Certain Provisions of Statement 140 Related to the Isolation of Transferred Financial Assets
• FASB Staff Position No. SOP 94-6-1, Terms of Loan Products That May Give Rise to a Concentration of Credit Risk
• SOP 05-1, Accounting by Insurance Enterprises for Deferred Acquisition Costs in Connection with Modifications or Exchanges of Insurance Contracts
• EITF Issue No. 05-8, Income Tax Consequences of Issuing Convertible Debt with a Beneficial Conversion Feature

Comprehensive and Easy to Use:

• The Manual provides sample disclosures that are technically sound, understandable, and comprehensive and that cover a variety of scenarios, from the most common to the most unusual.
• You can locate information based either on the disclosure topic or on the disclosure’s location in the financial statement.
• In addition, each chapter is structured as a standalone chapter, providing you all of the information you need for a specific topic.
• Each chapter consists of an executive summary; a listing of relevant authoritative literature; a listing of disclosure requirements mandated by GAAP; and specific examples of disclosures.
• The Manual also includes a freshly updated financial statement disclosures checklist that provides a centralized resource of the required and recommended GAAP disclosures currently in use. It is designed to assist the user in determining whether the required financial statement disclosures have been made.