Accountants' Handbook 2002 Cumulative Supplement

• The FASB issued three of its Statements of Financial Accounting Standards, Nos. 140, 141, and 142:
  • SFAS No. 140, "Accounting for Transfers and Servicing of Financial Assets and Extinguishments of Liabilities," provides guidance for such transfers and servicing of financial assets and guidance for extinguishments of liabilities. The new guidance is discussed in Chapter 13 of the Supplement.
  • SFAS No. 141, "Business Combinations," replaces APB Opinion No. 16. It eliminates the pooling-of-interests method of accounting after business combinations and provides revised guidance for implementation of the purchase method of accounting after business combinations. The new guidance is discussed in Chapter 8 of the Supplement.
  • SFAS No. 142, "Goodwill and Other Intangible Assets," replaces APB Opinion No. 17. It eliminates amortization of goodwill purchased in business combinations and relies instead on annual tests of impairment of recorded goodwill. The new guidance is discussed in Chapter 17 of the Supplement.
• The FASB issued its Interpretation No. 44, "Accounting for Certain Transactions Involving Stock Compensation." It provides guidance on the application of APB Opinion No. 25, "Accounting for Stock Issued to, Employees." The new guidance is discussed in Chapter 13 of the Supplement.
• The AICPA issued its revised Audit and Accounting Guide, "Banks and Savings Institutions." The new guidance is discussed in Chapter 26 of the Supplement.
• A new chapter on price change reporting, Chapter 12A, was added to discuss the failure of SFAS No. 33, "Financial Reporting and Changing Prices," the reasons for its faiture and why that was a good thing, and the harm its failure has nevertheless done to progress in price change reporting.

Preface

• The Framework of Financial Accounting Concepts and Standards
  
• SEC Reporting Requirements
  
• Earnings Management (New)
  
• Financial Statements: Form and Content
  
• Income Statement Presentation and Earnings per Share
  
• Accounting for Business Combinations
  
• Consolidation, Translation, and the Equity Method
  
• Statement of Cash Flows
  
• Analyzing Financial Statements
  
• Price-Change Reporting (New)
  
• Cash and Investments
  
• Revenues and Receivables
  
• Inventory
  
• Property, Plant, Equipment, and Depreciation
  
• Intangible Assets
  
• Leases
  
• Accounting for Income Taxes
  
• Liabilities
  
• Derivatives and Hedge Accounting
  
• Shareholders' Equity
  
• Auditing Standards and Audit Reports
  
• Oil, Gas, and Other Natural Resources
  
• Financial Institutions
  
• Producers or Distributors of Films (New)
  
• State and Local Government Accounting
  
• Not-for-Profit Organizations
  
• Pension Plans and Other Postretirement and Postemployment Benefits
  
• Stock-Based Compensation
  
• Personal Financial Statements