This is a thorough study of all generally accepted accounting principles (GAAP) set forth in the pronouncements of the Financial Accounting Standards Board (FASB) and its predecessor agencies. All original pronouncements having general applicability are explained with relevant terminology and practice-oriented real life examples, and included are summary charts and diagrams that clarify and outline the relationships, a discussion of perspectives and issues, sources of GAAP, a definition of terms, concepts, rules and examples and disclosures.