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FIN 48 Guidance Accounting for Income Taxes
Clarify the accounting for uncertainty in income taxes.
The Accounting and Auditing Resource
Accounting Research Manager® Audit Private offers objective and analytical accounting and auditing information as well as authoritative and proposed literature from the various standards boards and regulators. For firms that do not need to file with the SEC, this is the perfect resource for you.
You don't need to review multiple sources when preparing your company’s financial reports. In this easy-to-navigate database, you’ll find the reliable information you need to perform complete and accurate financial reporting research right from your computer. And because the database is updated daily, you know it’s current.
The ultimate research tool.
COMING SOON!
ARM's Interpretations of FASB Statement 157
Accounting Research Manager was developed by a team of seasoned practitioners at a major international accounting firm who needed a tool to meet the extensive research needs of its own staff. Today, a number of these experts have joined forces with CCH, to assist internal accountants and auditors in managing their research time.
Whether you need official literature, interpretations, or the results of recent standard setter meetings, you’ll find it in an instant with Accounting Research Manager. In fact, professionals who see the system for the first time frequently praise its all-inclusiveness.
ACCOUNTING
Accounting Standards—Your “window to the literature” providing summaries of all significant accounting matters by financial statement caption, prevalent financial reporting topic, or an industry that is subject to specialized accounting. Each topical section links to specific paragraphs of all related authoritative and interpretive literature from the FASB, EITF, AICPA, IASB, and Accounting Research Manager.
Topics include:
> Business combinations
> Intangibles
> Stock-based compensation
> Equity
> Earnings per share
> Financial instruments
> Income taxes
> Inventory
> Leases
> Not for profits
> Pensions
> Related parties
> Revenue recognition
> & more.
The Accounting Research Manager includes U.S. and international authoritative and proposal-stage literature plus interpretive guidance on:
> FASB (Financial Accounting Standards Board) — Statements and interpretations, staff positions, technical bulletins, special reports, implementation guides and related proposal-stage literature. Plus, Accounting Research Bulletins and APB Opinions.
> AICPA (American Institute of Certified Public Accountants) — Statements of Position, Audit and Accounting Guides, Practice Bulletins, Accounting Interpretations, Issues Papers and related proposal-stage literature.
> EITF (Emerging Issues Task Force) —- Abstracts, Minutes and Issues Summaries. Our EITF Flash Report is issued immediately after each EITF meeting.
> IASB (International Accounting Standards Board) —- Accounting standards and related proposal-stage literature.
> Major Interpretive Publications —Your link to our industry-leading guidance on Business Combinations, Derivatives and Hedging, Leases, Compensation Arrangements,Financial Assets and Liabilities, and Accounting for Income Taxes.
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Accounting for Business Combinations, Goodwill, and Other Intangible Assets - Interpretations of FASB Statement 141 and 142
Our latest edition features the newest guidance on the most current literature on Statements 141 and 142. This book offers comprehensive guidance on accounting for business combinations, as well as intangible assets and goodwill under both U.S. and International Accounting Standards.
This covers a broad range of transactions, including:
> Acquisitions of businesses by acquiring assets or stock;
> Acquisitions of minority interests;
> Leveraged buyouts;
> Reverse acquisitions;
> Rollup transactions; and
> Transfers and exchanges between companies under common control.
Derivatives and Hedging—Interpretations of FASB Statement 133
FASB Statement 133 dispels the myth that accounting or derivatives affects only financial service companies. It changes hedge accounting and expands the definition of a derivative to include embedded derivatives and many commodity contracts. As a result, Statement 133 will affect many commercial companies. This publication interprets Statement 133 to give readers a tool for understanding and applying the Statement's requirements.
Topics covered in Derivatives and Hedging include:
> Recognition and measurement of derivative instruments and hedging activities
> Cash flow hedges
> Foreign currency hedges
> Identifying and bifurcating embedded derivative instruments
> Determining and recording fair value
> Determining and accounting for impairment
> Implementation guidance and disclosure rules
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Accounting for Compensation Arrangements - Interpretations of FASB Statement 123
Accounting for Compensation Arrangements offers professionals comprehensive guidance for applying the complex and expansive requirements of FASB Statement No. 123 (Revised 2004), Share-Based Payment. It discusses the financial reporting implications of stock-based compensation arrangements for employees, employee stock purchase plans, certain other compensation arrangements for employees, and share awards to nonemployees for goods and services.
This publication includes recent views of the FASB, including those reflected in FASB Staff Position (FSP) FAS 123R-4, “Classification of Options and Similar Instruments Issued as Employee Compensation That Allow for Cash Settlement upon the Occurrence of a Contingent Event.” Reference is made to all pertinent opinions, statements, pronouncements, interpretations, and bulletins that affect accounting for share-based payments and other forms of compensation.
This in-depth resource provides professionals with a practical reference tool by selectively combining information from the official text of these standards, along with other information drawn from the AICPA, SEC, FASB interpretations, FASB staff positions, consensuses of the Emerging Issues Task Force, and lessons learned from leading accounting practitioners.
Accounting for Leases - Interpretations of FASB Statement No. 13, As Amended
Accounting for Leases offers paragraph-by-paragraph interpretations of Statement 13, as amended. It clarifies many implementation issues companies will face. Also, it discusses how to treat leasing transactions in areas not specifically addressed by the FASB, and areas that require further explanation.
Our interpretations take into consideration FASB Statement No. 98, Accounting for Leases; and FASB Interpretation No. 21, Accounting for Leases in a Business Combination. It also considers FASB Statements 141, 144 and 146; FASB Interpretations No. 45 and 46; and other literature from the FASB, AICPA, and SEC.
For companies involved in leasing transactions and for those that are focused on keeping assets and debt off-balance-sheet, this publication provides invaluable and comprehensive guidance.
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Financial Assets and Liabilities: Sales, Transfers and Extinguishments - Interpretations of FASB Statement 140
Accounting for sales, transfers and servicing of financial assets and extinguishments of liabilities can be highly complex. FASB Statement 140 establishes a financial-reporting model for these types of transactions but covers a wide breadth of transactions. As new transactions are introduced into the marketplace, you will face new and challenging implementation questions in this area.
Transactions involving financial assets and liabilities — such as refinancing of liabilities, factoring of receivables and pledges of collateral — are not limited to financial institutions. Financial-reporting professionals need to understand how Statement 140 works. To help you, Financial Assets and Liabilities provides practical, real-world interpretations of 140 in question and answer format.
Transactions covered in this publication include:
· Collateralized borrowing
· Purchases or sales of receivables, loans, and securities
· Consolidation policies for special-purpose entities
· Loan syndications and participations
· Securities lending
· Debt extinguishments and refinancing
· Wash sales
Accounting for Income Taxes
Accounting for Income Taxes provides guidance on the application of FASB Statement No. 109, Accounting for Income Taxes, as amended. It also provides interpretations of the various amendments to Statement 109 since 1992, including the guidance contained in FASB Interpretation No. 48, Accounting for Uncertainty in Income Taxes—an Interpretation of FASB Statement No. 109, which was issued by the FASB in July of 2006.
Statement 109 established financial accounting and reporting standards for the effects of income taxes that result from an enterprise's activities during the current and preceding years. It requires an asset and liability approach for financial accounting and reporting for income taxes.
This in-depth resource gives professionals indispensable guidance on the complex requirements of Statement 109 and clarifies the implementation issues resulting from the accounting industry’s literal approach to applying the statement’s criteria. It provides a practical reference tool by selectively combining information from the official text of the FASB, along with information drawn from the AICPA, consensuses of the EITF, SEC Staff Accounting Bulletins, and lessons learned from leading practitioners in the field.
GAAP Financial Statements Disclosures Manual
This guide provides a complete, quick and valuable reference source for financial statement disclosures. The Manual contains more than 900 examples of realistic sample footnote disclosures to assist in the preparation of financial statements for an audit, review or compilation engagement. It facilitates compliance with authoritative pronouncements by integrating, in each chapter, the specific disclosure requirements with the sample footnotes.
The Manual provides sample disclosures that are technically sound, understandable, and comprehensive and that cover a variety of scenarios, from the most common to the most unusual. It is designed for ease of use. You can locate information based either on the disclosure topic or on the disclosure's location in the financial statement. In addition, each chapter is structured as a standalone chapter, providing you all of the information you need for a specific topic. Each chapter consists of an executive summary; a listing of relevant authoritative literature; a listing of disclosure requirements mandated by GAAP; and specific examples of disclosures.
The Manual also includes a financial statement disclosures checklist that provides a centralized resource of the required and recommended GAAP disclosures currently in use. It is designed to assist the user in determining whether the required financial statement disclosures have been made.
This title contains all of the sample disclosures in this edition, as well as the expansive financial statement disclosures checklist. All of these documents can be used as templates and modified to fit your needs.
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AUDITING
Our audit content covers auditing standards, attestation engagement standards, accounting and review services standards, audit risk alerts and other vital auditing-related guidance issued by the AICPA.
Access our best-selling GAAS Practice Manual, Audit Procedures, Compilations & Reviews, CPA’s Guide to Effective Engagement Letters, CPA’s Guide to Management Letter Comments, Attestation Engagements and GAAS Update Service. You will also have access to AICPA Accounting and Audit Guides and AICPA Professional Standards.
GAAS Practice Manual: Current SASs, SSAEs, and SSARSs in Practice
This innovative resource provides a complete, quick, and valuable reference source for the practitioner of the currently effective pronouncements of Statement on Auditing Standards (SAS), Statement on Standards for Attestation Engagements (SSAE), Statement on Standards for Accounting and Review Services (SSARS), and the interpretations of these standards.
Throughout, the Manual features various efficiency and effectiveness practice tips to help the practitioner better plan and execute accounting, auditing, and attest engagements and to quickly integrate the standards into practice. In addition to providing answers for over 600 frequently asked questions on how to implement the standards, the Manual contains over 350 illustrations, including checklists and practice aids.
Audit Procedures
Audit Procedures shows practitioners the most cost-effective approach for conducting high-quality audits of nonpublic commercial entities. This product features various audit efficiency, effectiveness, and cost-saving measures to help reduce the tendency to overaudit. It also includes numerous practice aids—checklists, questionnaires, workpapers, sample correspondence, and sample auditor’s reports—to take the practitioner through an engagement, from the initial evaluation of a client to the issuance of the auditor’s report.
The 2006 edition of Audit Procedures has been updated for new auditing pronouncements through SAS-101 (Auditing Fair Value Measurements and Disclosures) and accounting pronouncements through FASB Statement No. 153 (Exchanges of Nonmonetary Assets—An Amendment of APB Opinion No. 29). Also, the contents have been revised to reflect, where applicable, the effects of the new pronouncements.
In addition, this edition includes coverage of the Public Company Accounting Oversight Board (PCAOB) Auditing Standard No. 1, “References in Auditors’ Reports to the Standards of the Public Company Accounting Oversight Board”; PCAOB Auditing Standard No. 2, “An Audit of Internal Control over Financial Reporting Performed in Conjunction with an Audit of Financial Statements”; PCAOB Auditing Standard No. 3, “Audit Documentation”; and conforming amendments to PCAOB Interim Standards. The discussion, illustrations, and examples (e.g., auditor’s reports) throughout the product have been updated, where applicable, to incorporate the guidance and requirements of the PCAOB. Although standards issued by the PCAOB apply mainly to auditors of publicly held entities, auditors are not precluded from performing an audit of a nonpublic company in accordance with the PCAOB’s standards.
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Compilations & Reviews
Our experts translate the technical jargon of all applicable pronouncements including explaining how the watershed GASB 34 relates to compilations and reviews. Moreover, the latest guidance on the new Management-Use-Only Compilation Engagement is right here. Find out why CPAs across the country are turning to this compact reference. The guide also examines all applicable compilation and review standards, and guides you safely through planning, performance, documentation, and reporting. You receive all the time saving checklists, forms, and reports you'll need to perform a thorough compilation or review.
CPA's Guide to Effective Engagement Letters
We've included every type of engagement letter you could possibly need, from audits, tax preparations, and payroll processing, to business valuations and assurance services. And here's the best part: Every letter can be easily customized and printed. This innovative resource features a new collection of case studies on liability issues that illustrate what to do and what not to do with your engagement letters. Covers over 50 types of letters!
CPA's Guide to Management Letter Comments
Developed by a seasoned auditor with more than 20 years of experience in auditing practice for clients in a broad spectrum of industries, the just published CPA's Guide to Management Letter Comments makes it remarkably easy to draft clear management letter comments in no time at all. In one convenient, logically organized volume, you'll find the find the correct words and phrases to use in virtually any management letter comment you'll ever need to construct. The guide supplies the specific tools you need to build the basic structure and body of management letters, from the opening paragraph, to specific comments for all of the critical areas generally encountered during an audit, and suggested closing paragraphs. With these expertly prepared comments at your fingertips, you can make clear, concise recommendations to improve operational efficiencies or strengthen control weaknesses while actively promoting your additional services where opportunity exists.
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GAAS Update Service
Issued twice a month, you'll receive the latest coverage of Audit Risk Alerts, SASs, SSAEs, Auditing SOPs, Industry Audit Guides and more!
Attestation Engagements
The product is filled with practical explanations of the most common types of attestation engagements, reducing the technical language of official pronouncements to easy-to-read and easy-to-understand advice and procedures. This product is designed to enhance the quality of your practice, and it presents an approach that will help you perform your attestation engagements effectively and efficiently.
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UPDATE TOOLS
Weekly Summary e-mail alerts—The most current developments in financial reporting, conveniently emailed to you at the end of each business week so that you can quickly learn of topics that could affect your company.
The ARM Daily News—Each day, our expert staff will choose key accounting, auditing, international, regulatory (e.g., SEC) and governmental news that may affect your organization, and bring them directly to your desktop by e-mail. In addition to clear and concise news reporting, where appropriate, links will be provided to ARM’s exclusive deeper analyses of the developments and to the relevant source materials.
Because timing is everything.
Accounting Research Manager dramatically expands your department’s research capabilities. It’s like adding your own staff of researchers whose sole purpose is to track important accounting developments for you. Our outstanding team of content editors take pride in updating the system on a daily basis, so you stay as current as possible.
What’s more, our experts attend many standard setter meetings and summarize the results to you. Which means, you’ll learn of newly released literature and deliberations of current financial reporting projects as soon they occur!
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