This reference provides a comprehensive examination of Generally Accepted Accounting Principles (GAAP) as established by the Financial Accounting Standards Board (FASB). It aims to guide accounting professionals through the complexities of GAAP, offering detailed explanations, real-world examples, and insights into new concepts and pronouncements. The book serves as a critical tool for staying current with accounting standards, including the latest findings from the Emerging Issues Task Force, and provides a complete listing of all GAAP pronouncements.

This reference is designed for accounting professionals seeking a thorough understanding and practical application of GAAP. The inclusion of real-world examples and CPE examinations suggests a focus on practical utility and professional development. The book's structure, detailing concepts, rules, and sources of GAAP, points to its role as a comprehensive guide for navigating accounting standards and recent changes.