The most practical, authoritative guide to GAAP. Beginning July 1, 2009, the Financial Accounting Standards Board"s (FASB"s) Accounting Standards Codification (ASC) has superseded virtually all promulgated GAAP, replacing what had previously comprised four levels in the GAAP hierarchy with a single set of codified GAAP. The objective was to create a new, clearer indexing system that is much easier to access and use to research solutions to real-world financial reporting problems. Although the Codification does not itself change U.S. generally accepted accounting principles (GAAP), it has comprehensively reorganized the myriad of GAAP rules (FASB statements, AICPA statements of position, EITF consensuses, guidance from Audit and Accounting Guides, FASB staff positions, etc.) into a single, easy-to-use compendium conveniently organized by topic or subject. Wiley GAAP 2010 contains, as did its predecessor editions, complete coverage of all levels of GAAP, now indexed to...