Wiley CPA Examination Review Focus Notes: Financial Accounting and Reporting

Wiley CPA Exam Review Focus Notes: Financial Accounting and Reporting......Page 4
Contents......Page 6
Preface......Page 8
About the Authors......Page 10
Objectives of Financial Reporting......Page 12
Elements of Financial Statements......Page 14
Basic Rules & Concepts......Page 15
Converting from Cash Basis to Accrual Basis......Page 17
Balance Sheet......Page 19
Current Assets & Liabilities......Page 20
Special Disclosures......Page 21
Reporting the Results of Operations......Page 22
Discontinued Operations......Page 32
Accounting for Changing Prices......Page 35
Inventories......Page 37
Long-Term Construction Contracts......Page 56
Property, Plant, & Equipment......Page 60
Disposal of Property, Plant, & Equipment......Page 70
Intangibles......Page 75
Bank Reconciliation......Page 83
Accounts Receivable......Page 84
Uncollectible Accounts......Page 85
Uncollectible Accounts......Page 86
Notes Received for Cash......Page 87
Notes Received for Goods or Services......Page 88
Notes Received for Goods or Services......Page 89
Financing Receivables -Discounting......Page 90
Financing Receivables......Page 91
Financial Statement Analysis......Page 92
Accounts Payable......Page 95
Contingencies......Page 96
Estimated & Accrued Amounts......Page 97
Miscellaneous Liabilities......Page 105
Accounting for Leases......Page 106
Bonds......Page 119
Troubled Debt Restructuring......Page 128
Pension Plans......Page 131
Postretirement Benefits......Page 135
Accounting for Income Taxes (FAS 109)......Page 137
FIN 48: Accounting for Uncertainty in Income Taxes......Page 143
FIN 48: Accounting for Uncertainty in Income Taxes (continued)......Page 144
Stockholders’ Equity......Page 145
Earnings Per Share......Page 165
Methods of Reporting Investments......Page 170
Equity Method......Page 173
Marketable Securities......Page 176
Life Insurance......Page 177
Statement of Cash Flows......Page 178
Business Combinations......Page 186
Consolidations......Page 191
Investments in Derivative Securities......Page 197
Characteristics of Derivatives......Page 198
Use of Derivatives......Page 199
Fair Value Option and Measurements......Page 201
Segment Reporting......Page 204
Partnership......Page 207
Foreign Currency......Page 215
Interim Financial Statements......Page 219
Personal Financial Statements......Page 222
Governmental Accounting......Page 225
Accounting for Nonprofit Entities......Page 267
Index......Page 279