Wiley GAAP 2018 part1

fmatter
	Wiley GAAP 2018: Interpretation and Application of Generally Accepted Accounting Principles
	Contents
	Preface
	About the Author
	Codification Taxonomy
ch1
	1: ASC 105 Generally Accepted Accounting Principles
		Perspectives and Issues
			What Is GAAP?
				Nonauthoritative Sources
				Recognition Principles
				Disclosure Principles
		Definitions of Terms
		Concepts, Rules, and Examples
			History of GAAP
				Other Sources
			GAAP Codification
				SEC Guidance in the Codification
			Standards-setting Process
				Emerging Issues Task Force
				Accounting Standards Updates
				Maintenance Updates
				American Institute of Certified Public Accountants
			Researching GAAP Problems
				Codification Structure
			Research Procedures
				Step 1: Identify the problem
				Step 2: Analyze the problem
				Step 3: Refine the problem statement
				Step 4: Identify plausible alternatives
				Step 5: Develop a research strategy
				Step 6: Search authoritative literature (described in additional detail below)
				Step 7: Evaluation of the information obtained
			Search Authoritative Literature (Step 6)-Further Explanation
				Researching Wiley GAAP
				Researching nonpromulgated GAAP
				Internet-based research sources
			The Concept of Materiality
				Technical Alert
			Descriptions of Materiality
				Quantitative factors
				Qualitative factors
				Degree of precision
			The Conceptual Framework
				Components of the conceptual framework
			CON 8-Chapter 1: The Objective of General Purpose Financial Reporting
			CON 8-Chapter 3: Qualitative Characteristics of Useful Financial Information
			CON 5: Recognition and Measurement in Financial Statements of Business Enterprises
			CON 6: Elements of Financial Statements
				Definitions of terms
				Elements of not-for-profit financial statements
			CON 7: Using Cash Flow Information and Present Value in Accounting Measurements
				How CON 7 measures differ from previously utilized present value techniques
				Measuring liabilities
				Interest method of allocation
				Accounting for changes in expected cash flows
				Application of present value tables and formulas
				Practical matters
ch2
	2: ASC 205 Presentation of Financial Statements
		Perspective and Issues
			Subtopics
			Scope and Scope Exceptions
				ASC 205-20
				ASC 205-30
		Definitions of Terms
		Concepts, Rules, and Examples
			ASC 205-10, Overall
				Comparative Statements
				Changes affecting comparability
			ASC 205-20, Discontinued Operations
				Determining When a Disposal Should Be Presented as a Discontinued Operation
				The Concept of a Strategic Shift
				Classification as Held for Sale
				Example—Determination of Whether to Report Discontinued Operations
				Presentation-Balance Sheet
				Example of Income Statement Presentation for Discontinued Operations
				Presentation-Income Statement
				Adjustments to Amounts Previously Reported
			ASC 205-30, Liquidation Basis of Accounting
				Measurement
				Financial statements
			ASC 205-40, Going Concern
				Step 1: Evaluating Conditions and Events That May Raise Substantial Doubts
				Step 2: Consideration of Management's Plans When Substantial Doubt Is Raised
				Disclosure Requirements
				Example—Substantial Doubts About Going Concern Are Raised but Alleviated
				Example—Substantial Doubts About Going Concern Are Raised and Not Alleviated by Management’s Plans
ch3
	3: ASC 210 Balance Sheet
		Perspective and Issues
			Subtopics
			Scope and Scope Exceptions
				ASC 210-10
				ASC 210-20
				Disclosures
			Overview
		Definitions of Terms
		Concepts, Rules, and Examples
			Form of the Statement of Financial Position
				Entity's name
				Date
				Consistency of format
			ASC 205-10, Overall
				Current assets
				Noncurrent assets
			Liabilities
				Current liabilities
				Noncurrent liabilities
			Presentation
				Example: Statement of financial position–– highly aggregated
				Example: Statement of financial position–– highly detailed
			ASC 210-20, Offsetting
				Bankruptcy
				Taxes payable
				Repurchase and reverse repurchase agreements
				Disclosures
			Other Sources
ch4
	4: ASC 215 Statement of Shareholder Equity
		Perspective and Issues
ch5
	5: ASC 220 Comprehensive Income
		Perspective and Issues
			Subtopic
			Scope Exceptions
			Overview
		Definitions of Terms
		Concepts, Rules, and Examples
			Comprehensive Income
			Format of Statement of Income and Comprehensive Income
				Entities with an Outstanding Noncontrolling Interest
				Items of Other Comprehensive Income
				Accumulated Other Comprehensive Income
				Reclassification Adjustments
				Income Tax Effects
				Interim Reporting
				Example of single statement of income and comprehensive income with “net of tax” presentation
				Example of single statement of income and comprehensive income with “gross of tax” presentation
				Example Note X: Income Taxes
			Reporting Comprehensive Income in Two Separate but Consecutive Statements of Income and Comprehensive Income
				Example of two separate but consecutive statements of income and comprehensive income—net of tax presentation
ch6
	6: ASC 225 Income Statement
		Perspective and Issues
			Subtopics
			Scope and Scope Exceptions
			Overview
		Definitions of Terms
		Concepts, Rules, and Examples
			Format of Statements of Income and Comprehensive Income
				Entity name
				Statement titles
				Statement date
				Consistency of form
				Aggregation
			Income from Continuing Operations
				Multiple-step format
					Income from Continuing Operations
				Net income
			ASC 225-20, Unusual Items or Infrequently Occurring Items
				Unusual or Infrequent Items
				Unusual nature
				Infrequency of occurrence
			Pro Forma Earnings
			ASC 225-30, Business Interruption Insurance
			Other Sources
ch7
	7: ASC 230 Statement of Cash Flows
		Perspective and Issues
			Technical Alert
				ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments
				ASU 2016-18, Statement of Cash Flows (Topics 230), Restricted Cash, a Consensus of the FASB's Emerging Issues Task Force
			Subtopic
			Scope and Scope Exceptions
			Overview
		Definitions of Terms
		Concepts, Rules, and Examples
			Cash Focus
			Classification of Cash Receipts and Disbursements
			Operating Activities Presentation
				The Direct Method
				The Indirect Method
				Reconciliation of Net Income and Net Cash Flow from Operating Activities
				Comparison of Methods
			Other Requirements
				Gross vs. net basis
				Discontinued operations
				Cash flow per share
			Net Reporting by Financial Institutions
			Reporting Hedging Transactions
			Reporting Foreign Currency Cash Flows
			Preparation of the Statement
				Example of preparing a statement of cash flows
			Statement of Cash Flows for Consolidated Entities
			Disclosures
			Other Sources (ASC 230-10-60)
ch8
	8: ASC 235 Notes to Financial Statements
		Perspective and Issues
			Subtopic
			Scope
				Technical Alert
				FASB Initiatives
				SEC Initiative
				Suggestions for Improving Disclosure Effectiveness
		Definitions of Terms
		Concepts, Rules, and Examples
			Accounting Policies
				Commonly disclosed accounting policies
				Timing of adoption decisions
			Disclosure Techniques
				Parenthetical explanations
				Notes to financial statements
				Cross-references
				Valuation allowances
ch9
	9: ASC 250 Accounting Changes and Error Corrections
		Perspective and Issues
			Subtopics
			Scope
			Overview
			Technical Alert
		Definitions of Terms
		Concepts, Rules, and Examples
			Accounting Changes
			Change in Accounting Principle
				Preferability
				Retrospective application
				Impracticability exception
				Example of change from FIFO to LIFO
				Example Note A: Change in method of accounting for inventories
				Disclosure of Prospective Changes in GAAP
			Reclassifications
			Change in Accounting Estimate
				Example of a change in accounting estimate—current and prospective method
				Example of a change in accounting estimate
			Change in Accounting Estimate Effected by a Change in Accounting Principle
			Change in Reporting Entity
			Error Corrections
				Example of a correction of an error in previously issued financial statements
			Evaluating Uncorrected Misstatements
				Types of misstatements
				Misstatements from prior years
				Guidance for SEC registrants
			Interim Reporting Considerations
				Change in Accounting Principle
				Corrections of Errors
			Disclosures
			Other Sources
ch10
	10: ASC 255 Changing Prices
		Perspective and Issues
			Subtopic
			Scope
		Definitions of Terms
		Concepts, Rules, and Examples
			Elective Disclosures
			Other Sources
ch11
	11: ASC 260 Earnings Per Share
		Perspective and Issues
			Subtopic
			Scope and Scope Exceptions
			Overview
		Definitions of Terms
		Concepts, Rules, and Examples
			Simple Capital Structure
				Computational guidelines
				Numerator
				Denominator
				Treasury stock
				Stock dividend or stock split
				Example of EPS computation—simple capital structure
				Preferred stock dividends payable in common shares
				Example of preferred stock dividends payable in common shares
				Effect of preferred stock dividends payable in common shares on computation of EPS
				Material limited partnerships-dropdown transactions
			Complex Capital Structure
				Diluted earnings per share
				Identification of potentially dilutive securities
				Convertible securities
				Options and warrants
				Participating securities and two-class common stocks
				Financial instruments with characteristics of both liabilities and equity
				Contingent issuances of common stock
				Example of the impact of contingent stock issuances on EPS
				Computation of DEPS
				Example—treasury stock method
			Examples of EPS Computation-Complex Capital Structure
				Example of the treasury stock method
				Example of the if-converted method
			Participating Securities and the Two-Class Method
				Presentation and disclosure
				Participating security defined
				Allocating earnings and losses
				Two-class method
				Example—participating convertible preferred stock
				Example—participating convertible debt instrument
				Example—participating warrants
			Effect of Contracts That May Be Settled in Stock or Cash on the Computation of DEPS
			Inclusions/Exclusions from Computation of DEPS
			The Effect of Contingently Convertible Instruments on DEPS
				Example—contingently convertible debt with a market price trigger
			Consolidated DEPS
			Partially Paid Shares
				Example of impact of partially paid shares on EPS
			Effect of Certain Derivatives on EPS Computations
			Effect on EPS of Redemption or Induced Conversion of Preferred Stock
				Example of partial conversion
			EPS Impact of Tax Effect of Dividends Paid on Unallocated ESOP Shares
			Earnings Per Share Implications of ASC 718
			Presentation
				Rights issue
				Restated EPS
				Year-to-date diluted EPS
			Other Disclosure Requirements
		Comprehensive Example
			Diluted EPS (DEPS)
			Note X: Earnings per Share (Illustrative Disclosure Based on Facts from the Example)
			Example of the presentation and computation of earnings per share
			Other Sources
ch12
	12: ASC 270 Interim Reporting
		Perspective and Issues
			Subtopic
			Overview
				Objective
				Integral Approach
				Discrete Approach
				Integral/Discrete Pros and Cons
				Other Issues
		Definitions of Terms
		Concepts, Rules, and Examples
			Differentiation between Public and Nonpublic Entities
		Part I-Requirements Applicable to All Reporting Entities
			Revenues
			Product Costs and Direct Costs
				Example of interim reporting of product costs
			Other Costs and Expenses
				Example of interim reporting of other expenses
			Income Taxes
			Fair Value of Financial Instruments
			Unusual or Infrequent Items and Disposals of Components
				Example of disposal of a component and unusual or infrequently occurring items
			Contingencies
				Example of interim reporting of contingencies
			Seasonality
			Accounting Changes
				Change in accounting principle
				Change in accounting estimate
				Change in reporting entity
				Restatements
		Part II-Requirements Applicable to Public Reporting Entities
			Quarterly Reporting to the SEC
				Summarized interim financial data
				Changes in accounting principle
				Fourth quarter adjustments
				Earnings per share
				Accelerated reporting requirements
			Other Sources
ch13
	13: ASC 272 Limited Liability Entities
		Perspective and Issues
			Subtopic
		Definitions of Terms
		Concepts, Rules, and Examples
			Reporting by Limited Liability Companies and Partnerships
				Presentation
				Members' equity
				Comparative statements
				Disclosures
			Other Sources
ch14
	14: ASC 274 Personal Financial Statements
		Perspective and Issues
			Subtopic
			Overview
		Definitions of Terms
		Concepts, Rules, and Examples
			Basis of presentation
			Measurement
				Assets
				Liabilities
				Use of a specialist
				Use of information about recent transactions
				Disclosures
				Example: hypothetical set of personal financial statements
ch15
	15: ASC 275 Risks and Uncertainties
		Perspective and Issues
			Subtopic
			Scope and Scope Exceptions
		Definitions of Terms
		Concepts, Rules, and Examples
			Nature of Operations or Activities
			Use of Estimates in the Preparation of Financial Statements
			Certain Significant Estimates
				Examples of items that may be based on estimates that are particularly sensitive to change in the near term (ASC 275-10-50-15)
			Current Vulnerability Due to Concentrations
				Examples of concentrations that require disclosure (ASC 275-10-50-18)
			Other Sources
ch16
	16: ASC 280 Segment Reporting
		Perspective and Issues
			Subtopic
			Scope and Scope Exceptions
			Overview
				Objective
				Benefits
				Management approach
		Definitions of Terms
		Concepts, Rules, and Examples
			Operating Segments
			Reportable Segments
				Revenue test
				Profit and loss test
				Assets test
				Comparability
				75% test
				Example of segment testing
				Aggregating segments
			Measurement Issues
				Transfer pricing
				Common costs
				General corporate expense
				Corporate assets
			Segment Disclosures
			Entity-Wide Disclosures
			Restatement of Previously Reported Segment Information
				Example—comprehensive illustration of the application of segment reporting
			Other Sources
ch17
	17: ASC 305 Cash and Cash Equivalents
		Perspective and Issues
			Subtopic
			Scope
			Overview
		Definitions of Terms
		Concepts, Rules, and Examples
			Cash
				Restricted cash
				Compensating balances
				Cash not immediately available
				Overdrafts
				Petty cash
ch18
	18: ASC 310 Receivables
		Perspective and Issues
			Technical Alert
			ASU 2016-13
				Effective Date
				Transition
				Guidance
				Example—estimating ECLs for trade receivables using an aging schedule
			ASU 2017-08
				Effective Date
				Transition
				Scope and Scope Exceptions
				Guidance
				Example
			Subtopics
			Scope and Scope Exceptions
		Definitions of Terms
		Concepts, Rules, and Examples
			Scope
				ASC 310-10, Overall
			Overview
				Types of receivables
			Valuation Allowance for Uncollectible Amounts
				Percentage-of-sales method
				Example of percentage-of-sales method
				Aging the accounts method
				Example of the aging method
				Change in estimate
				Imputed interest
				Lending and financing activities, including trade receivables
				Example of delinquency fees, prepayment fees, and rebates
			Pledging, Assigning, and Factoring Receivables
				Pledging
				Assignment
				Factoring
				Example of accounting for the factoring of receivables without recourse
			Impairment of Loans and Receivables
				Measurement
			ASC 310-20, Nonrefundable Fees and Other Costs
				Scope and Scope Exceptions
				Loan origination fees
				Example of a loan origination fee
				Commitment fees and costs
				Example of a commitment fee
				Fees and costs in refinancing or restructurings
				Example of a refinanced loan—favorable terms—origination fees
				Example of a refinanced loan—unfavorable terms—origination fees
				Purchase of a loan or group of loans
				Special arrangements
				Example of a line of credit—origination fee
				Other lending-related costs
			ASC 310-30, Certain Loans and Debt Securities Acquired with Deteriorated Credit Quality
				Scope and Scope Exceptions
				Overview
				ASC 310-30 in greater detail
				Accounting for investments in loans with deteriorated credit quality acquired by transfer
				Example—loan acquired with deteriorated credit quality at transfer
				Example—subsequent decrease in expected cash flows
				Example with decrease in expected cash flows followed by increase in expected cash flows (recovery of uncollectible loan receivable)
				Example—increase in expected cash flows
				Accounting for investments in pools of loans acquired by transfer
					Example of an investment in a pool of loans acquired by transfer
					Example of reduction in cash flow expectations
					Example with decrease in expected cash .ows followed by increase in expected cash flows
			ASC 310-40, Troubled Debt Restructurings by Creditors
			Scope
				Scope and Scope Exceptions
				Determining Whether a Troubled Debt Restructuring Has Occurred
				Determining Whether a Concession Has Been Granted
				Determining Whether a Debtor Is Experiencing Financial Difficulty
			Measurement and Derecognition
				Substituted debtors in a troubled debt restructuring
				Receipt of assets in full satisfaction of a receivable
				Partial satisfaction of a receivable
				Impairment of a loan
				Foreclosure
					Classification of Certain Government-Guaranteed Mortgage Loans upon Foreclosure
				Example 1—settlement of a troubled debt by transfer of assets
				Example 2—modification of terms: restructuring with gain/loss recognized (payments are less than the recorded investment in the receivable)
				Example 3—restructuring with no gain/loss recognized (payments exceed the recorded investment in the receivable)
			Other Sources (ASC 310-10-60)
ch19
	19: ASC 320 Investments-Debt and Equity Securities
		Perspective and Issues
			Technical Alert
				ASU 2016-01
				ASU 2016-13
				Disclosures
			Investment Topics
			Subtopics
			Scope and Scope Exceptions
			Overview
		Definitions of Terms
		Concepts, Rules, and Examples
			Debt Securities, and Equity Securities with Readily Determinable Fair Values
				Classification of investment securities
				Presentation
			Held-to-Maturity Debt Securities
				Changes consistent with the held-to-maturity category
				Transfers
				Sales after a substantial portion of principal is collected
				Example of held-to-maturity debt securities
			Trading Securities
				Example of accounting for trading securities
				Example of accounting for a realized gain on trading securities
			Available-for-Sale Securities
				Example of available-for-sale equity securities
				Example of available-for-sale debt securities
			Transfers Between Categories
				Measurement
				Example of a transfer between trading and available-for-sale portfolios
				Example of a transfer between available-forsale and trading portfolios
			Other-than-Temporary Impairment (OTTI)
				Scope
				Steps to Determine Existence and Accounting for Impairment
				Unit of accounting
				Step 1-Determine whether the investment is impaired
				Step 2-Evaluate whether the impairment is other than temporary
				Recognition of an other-than-temporary impairment
					Example of other-than-temporary impairment of an available-for-sale security
					Example of temporary impairment of an available-for-sale security
				Subsequent measurement after recognition of an OTTI
				Income statement presentation
				Example of income statement presentation of OTTI
				Subsequent accounting for debt securities after recognition of OTTI
			Cost-Method Investments
			Changes in Fair Value Measurements After Year-end-Reporting and Disclosures
			Other Issues
ch20
	20: ASC 320 Investments-Debt Securities
		Perspective and Issues
			Technical Alert
				ASU 2016-01
				ASU 2016-13
			Investment Topics
			Subtopics
			Scope and Scope Exceptions
			Overview
		Definitions of Terms
		Concepts, Rules, and Examples
			Classification of Debt Securities
				Presentation
			Held-to-Maturity Debt Securities
				Changes consistent with the held-to-maturity category
				Transfers
				Sales after a substantial portion of principal is collected
				Example of held-to-maturity debt securities
			Trading Securities
				Example of accounting for trading securities
				Example of accounting for a realized gain on trading securities
			Available-for-Sale Securities
				Example of available-for-sale debt securities
			Transfers Between Categories
				Measurement
			Other-than-Temporary Impairment (OTTI)
				Scope
				Steps to Determine Existence and Accounting for Impairment
				Unit of accounting
				Step 1-Determine whether the investment is impaired
				Step 2-Evaluate whether the impairment is other-than-temporary
				Recognition of an other-than-temporary impairment
				Subsequent measurement after recognition of an OTTI
				Income statement presentation
				Example of income statement presentation of OTTI
				Subsequent accounting for debt securities after recognition of OTTI
			Changes in Fair Value Measurements After Year-end-Reporting and Disclosures
			Other Issues
ch21
	21: ASC 321 Investments-Equity Securities
		Perspective and Issues
			Technical Alert
				Scope
				Effective date
			Investment Topics
			Subtopics
			Scope and Scope Exceptions
				In scope
				Scope exceptions
		Definitions of Terms
		Concepts, Rules, and Examples
			Investments That No Longer Qualifies for Equity Method
			Measurement
				Equities with readily determinable fair value
				Equity investments without readily determinable fair values
			Impairment
				Impairment model for equity investments without readily determinable fair values
			Dividend Income
			Presentation and Disclosure
			Other Sources
ch22
	22: ASC 323 Investments-Equity Method and Joint Ventures
		Perspective and Issues
			Investment Topics
			Technical Alert
				ASU 2016-01
				ASU 2016-07
				ASU 2016-13
			Subtopics
			Scope and Scope Exceptions
				ASC 323-10, Overall
				ASC 323-30, Partnerships, Joint Ventures, and Limited Liability Entities
				ASC 323-740, Income Taxes
			Overview
				ASC 323-10, Overall
				ASC 323-30, Partnerships, Joint Ventures, and Limited Liability Entities
				ASC 323-740, Income Taxes
		Definitions of Terms
		Concepts, Rules, and Examples
			ASC 323-10, Overall-The Equity Method of Accounting for Investments
				Introduction and background
				Significant influence
				Change in level of ownership or degree of influence
				In-substance common stock-significant influence in the absence of ownership of voting common stock
				Recognition and initial measurement
				Contingent consideration arrangements
				Example of the equity method—a simple case that ignores deferred income taxes
			Subsequent Accounting
				General
				Intra-entity gains and losses
				Basis differences
				Contingent considerations
				Investor accounting for investee capital transactions
				Example of accounting for an investee capital transaction
				Investor's proportionate share of other comprehensive income items
				Exchanges of equity method investments
				Other comprehensive income
				Equity method losses
				Investor has other investments in the investee
				Example of accounting for excess loss of investee when other investments are also held in same entity, when proportions of all investments are identical
				Investee has other investments in the same entity and proportions of investments vary
				Example of accounting for excess loss of investee when other investments are also held in same entity, when proportions of investments vary—first method: investee’s reported loss used as basis for recognition
				Example of accounting for excess loss of investee when other investments are also held in same entity, when proportions of investments vary—second method: investee’s reported change in net assets used as basis for recognition
				Accounting for subsequent investments in an investee after suspension of equity method loss recognition
				Example of subsequent investments in investee with losses in excess of original investment
				Deferred income tax accounting
				Example of the equity method—a simple case that includes deferred income taxes
				Example of income tax effects resulting from the sale of an equity method investment
				Decreases in investment value
				Goodwill impairment
				Example of a complex case that ignores deferred income taxes—equity method goodwill
				Example of adjustment of goodwill for other-than-temporary impairment of an equity method investment—that ignores
income taxes
				Example of a complex case that ignores deferred income taxes—computation of negative goodwill
				Intercompany transactions between investor and investee
				Example of accounting for intercompany transactions
				Example of eliminating intercompany profit on fixed assets
				Investee income items separately reportable by the investor
				Example of accounting for separately reportable items
				Changes in Level of Ownership or Degree of Influence
				Example of accounting for a discontinuance of the equity method
				Presentation and disclosure
			ASC 323-30, Equity Investments in Corporate Joint Ventures and Noncorporate Entities
				General partnerships
				Limited liability companies
			ASC 323-740, Qualified Affordable Housing Project Investments
				The proportional amortization method
				Effective yield method
			Other Sources
ch23
	23: ASC 325 Investments-Other
		Perspective and Issues
			Topics
			Investment Topics
			Subtopics
			Scope
				ASC 325-30
				ASC 325-40
		Definitions of Terms
		Concepts, Rules, and Examples
			Presentation and Disclosure
			ASC 325-10, Overall
			ASC 325-20, Cost Method Investments
				Dividends
				Impairment
				Changes in accounting method
				Other accounting issues
				Other sources
			ASC 325-30, Investments in Insurance Contracts
				Overview
				Investments in life settlement contracts
				The investment method
				The fair value method
			ASC 325-40, Beneficial Interests in Securitized Financial Assets
				Overview
				Initial recognition and measurement
				Subsequent measurement
ch24
	24: ASC 326 Financial Instruments-Credit Losses
		Perspective and Issues
			Technical Alert
				ASU 2017-03
				ASU 2016-13
			Investment Topics
			Subtopics
			Scope and Scope Exceptions
				ASC 326-10, Overall
				ASC 326-20, Financial Instruments-Credit Losses-Measured at Amortized Cost
				ASC 326-30, Financial Instruments-Credit Losses-Available-for-Sale Debt Securities
			Overview
		Definitions of Terms
		Concepts, Rules, and Examples
			ASC 326-10, Overall
			ASC 326-20, Measured at Amortized Cost
				Estimating Expected Credit Losses
				Discounted Cash Flow Method
				Other Than Discounted Cash Flow Method
				Purchased Financial Assets with Credit Deterioration (PCDs)
				Subsequent Measurement
				Financial Assets Secured by Collateral
				Loans Subsequently Identified for Sale
				Write-Offs and Recoveries of Financial Assets
				Interest Income on Purchased Financial Assets with Credit Deterioration
				Presentation and Disclosure
			ASC 326-30, Available-for-Sale Debt Securities
				Impairment
				Determining Whether a Credit Loss Exists
				Factors to Consider When Determing Impairment
				Presentation and Disclosure
ch25
	25: ASC 330 Inventory
		Perspective and Issues
			Technical Alert
				ASU 2015-11, Inventory (Topic 330) Simplifying the Measurement of Inventory
			Subtopic
			Scope
			Practice Alert
			Overview
		Definitions of Terms
		Concepts, Rules, and Examples
			Ownership of Goods
				Goods in transit
				Examples of goods in transit
				Example of a consignment arrangement
			Accounting for Inventories
				Periodic inventory system
				Perpetual inventory system
			Initial Measurement-Valuation of Inventories
				Raw materials and merchandise inventory
				Example of recording raw material costs
				Inventory purchases and sales with the same counterparty
				Inventory hedges
				Manufacturing inventories
				Example of allocating fixed overhead to units produced
				Example of variable and fixed overhead allocation
				Allocating overhead to products in costs of goods sold and finished goods inventory
				Cost Flow Assumptions
				Example of the basic principles involved in the application of FIFO
				Example of the single goods (unit) LIFO approach
				Example 1—identifying pools
				Example 2—identifying pools
				Example 3—identifying pools
				Example of the dollar-value LIFO method
				Example—link-chain method
				Average cost
				Example of the weighted-average method
				Comparison of cost flow assumptions
			Valuation Issues
			Lower of Cost or Market (LCM)
				Example of the lower of cost or market calculation
				Inventory estimation methods
				Example of the cost-to-retail ratio
				Example of the lower of cost or market rule—FIFO and average cost methods
				Example of the LIFO retail method
				Example of standard costing
			Other inventory valuation methods
				Net realizable value
			Differences between GAAP and Income Tax Accounting for Inventories
				Full absorption costing-income tax
				Uniform capitalization rules-income tax versus GAAP
				Inventory capitalization for retailers/wholesalers-income tax versus GAAP
			Other Inventory Topics
				Inventories valued at selling price
				Stripping costs incurred during production in the mining industry
ch26
	26: ASC 340 Other Assets and Deferred Costs
		Perspective and Issues
			Subtopics
			Scope and Scope Exceptions
				ASC 340-10
				ASC 340-20
				ASC 340-30
				ASC 340-40
		Definitions of Terms
		Concepts, Rules, and Examples
			ASC 340-10, Overall
			Prepaid Expenses
				Types of prepaid expenses
				Amortization
				Example of prepaid expenses
			Preproduction Costs Related to Long-Term Supply Arrangements
			ASC 340-20, Capitalized Advertising Costs
			ASC 340-30, Insurance Contracts That Do Not Transfer Insurance Risk
				Overview
				Transfer of significant timing risk or neither significant timing nor underwriting risk
				Transfer of only significant underwriting risk
				Insurance contract that has indeterminate risk
			ASC 340-40, Contracts with Customers
				Overview
			Incremental Costs of Obtaining a Contract
				Recoverability
				Determining When Costs Are Incremental
				Costs That Are Not Incremental
				Direct Response Advertising Costs
				Other Marketing Related costs
				Practical Expedient
				Example—Costs of Obtaining a Contract— Commissions, Bonuses
				Example—Costs of Obtaining a Contract— Travel, Due Diligence Costs
			Costs of Fulfilling a Contract
				Three Criteria for Recognizing Assets for Costs of Fulfilling a Contract
				Categories of Fulfillment Costs
				Example, Costs That Create an Asset
				Set-Up Costs
				Abnormal Costs
			Amortization of Costs
			Example, Costs-Recognition and Amortization
				Example, Costs-Amortization-Contract Extension
			Impairment Loss
				Sequence of Testing
				Impairment Unit
				Objectives of Recoverability Assessment
			Other Sources
ch27
	27: ASC 350 Intangibles-Goodwill And Other
		Perspective and Issues
			Subtopics
			Presentation and Disclosure
			Issues
			Technical Alert
				ASU 2016-03, Intangibles-Goodwill and Other (Topic 350), Business Combinations (Topic 805), Consolidation (Topic 810), Derivatives and Hedging (Topic 815); Effective Date and Transition Guidance (A Consensus of the Private Company Council)
				ASU 2017-04, Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment
		Definitions of Terms
		Concepts, Rules, and Examples
			ASC 350-10, Overall
				Scope
				Overall
			ASC 350-20, Goodwill
				Scope and scope exceptions
				Overall
				Determining the fair value of a reporting unit
			Timing of Testing
				Reporting unit
				Example of the goodwill impairment test
				Other goodwill considerations
				Goodwill-Accounting Alternative for Private Companies
				Scope
				Amortization of goodwill
				Goodwill Impairment
			ASC 350-30, General Intangibles Other Than Goodwill
				Scope and scope exceptions
				Overall
				Initial recognition of intangible assets
				Determining the useful of life of intangible assets
				Amortization of intangible assets
				Indefinite-lived intangible assets-not subject to amortization
				Quantitative impairment test for indefinite-lived intangible asset
			ASC 350-40, Software Developed for Internal Use
				Scope
				Cost capitalization
				Preliminary project stage
				Impairment
				Amortization
				Internal-use software subsequently marketed
				Example of software developed for internal use
				Customer's accounting for fees paid in a cloud computing arrangement
			ASC 350-50 Website Development Costs
				Scope
				Capitalization of costs
ch28
	28: ASC 360 Property, Plant, and Equipment
		Perspective and Issues
			Subtopics
			Scope and Scope Exceptions
				ASC 360-10, General
				ASC 360-10, Impairment of Disposal of Long-Lived Assets
				ASC 360-20
			Overview
				ASC 360-10, Overall
				ASC 360-20, Real Estate Sales.
		Definitions of Terms
		Concepts, Rules, and Examples
			ASC 360-10, Property, Plant, and Equipment—Overall
				Cost considerations—initial acquisition
				Other asset acquisition concerns
				Cost considerations—postacquisition
				Depreciation and depletion
				Depreciation Methods
				Example of straight-line depreciation
				Example of double-declining balance depreciation
				Example of sum-of-the-years’ digits (SYD) depreciation
				Example of partial-year depreciation
				Depletion
				Example of depletion
				Impairment
				Example of impairment
				Transfer or sale of property, plant, or equipment
				Example of long-lived assets to be disposed of by sale
			ASC 360-20, Real Estate Sales
				Scope
				Criteria for using full accrual method
				Criterion 1—Consummation of a sale
				Criterion 2—Adequacy of the buyer's initial and continuing investment
				Example determining adequacy of initial investment
				Criterion 3—Future subordination
				Criterion 4—Continuing involvement
			Methods of Accounting for Real Estate Sales other than Retail Land Sales
				Selection of method
				Full accrual method
				Installment method
				Example of the installment method
				Cost recovery method
				Example of the cost recovery method
				Deposit method
				Example of a deposit transaction
				Reduced profit method
				Example of the reduced profit method
			Other Guidance for Accounting for Real Estate Sales Transactions
				Integral equipment
				Collateralized loan valuation allowance
				Foreclosure-subsequent recovery of value
				Homebuilder builds home on own lot
				Repossessed real estate
				Minority interests in REITs
				ADC loans
				Condominium unit sales
				Investments in real estate ventures
				Real estate syndications
ch29
	29: ASC 405 Liabilities
		Perspective and Issues
			Technical Alert
				ASU 2016-04
				Guidance
				Implementation
			Subtopics
			Scope and Scope Exceptions
				ASC 405
				ASC 405-20
				ASC 405-30
				ASC 405-40
			Overview
		Definitions of Terms
		Concepts, Rules, and Examples
			ASC 405-10, Overall
			ASC 405-20, Extinguishments of Liabilities
			Example of accounting for the extinguishment of debt
			ASC 405-30, Insurance-Related Assessments
			ASC 405-40, Obligations Resulting from Joint and Several Liabilities
ch30
	30: ASC 410 Asset Retirement and Environmental Obligations
		Perspective and Issues
			Subtopics
			Scope and Scope Exceptions
				ASC 410-20
				ASC 410-30
		Definitions of Terms
		Concepts, Rules, and Examples
			ASC 410-20, Asset Retirement Obligations
				Asset retirement obligations requiring recognition
				Examples of the scope of ASC 410-20
				Example of timing of recognition
				Example of ongoing additions to the obligation
				Recognition
				Initial measurement
				Initially applying an expected present value method
				Allocation of an asset retirement obligation
				Changes due to passage of time
				Changes in estimates
				Funding and assurance provisions
				Rate-regulated entities
				Example—initial measurement and recognition
				Example—accounting in subsequent periods
				Electronic equipment waste obligations
			ASC 410-30, Environmental Obligations
				Environmental remediation liabilities