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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.
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 topic, or an industry that is subject to specialized accounting. Each topic section links to specific paragraphs of all related authoritative and interpretive literature from the
FASB,
IASB, and Accounting Research Manager. In addition, the database includes pre-Codification literature from the FASB, EITF and the AICPA.
There are 90 chapters in Accounting Standards and they are presented in the same order as the FASB Codification topics, such as:
> Business combinations
> Intangibles - Goodwill and other
> Compensation - Stock compensation
> Equity
> Earnings per share
> Financial instruments
> Income taxes
> Inventory
> Leases
> Not for profit entities
> Compensation - Retirement benefits
> Related party disclosures
> Revenue recognition
> & more.
Accounting Standards includes summaries of significant IAS/IFRS accounting matters which correspond to the U.S. GAAP summaries. Users can see side-by-side how U.S. GAAP treats a topic vs. how International reporting treats this same topic. Links to the authoritative literature as well as the ARM interpretations are reflected.
The Accounting Research Manager includes U.S. and international authoritative and proposal-stage literature plus interpretive guidance on:
> FASB (Financial Accounting Standards Board) — The FASB Codification is updated on ARM within hours of new material being added to the Codification by the FASB, plus historical FASB Statements and interpretations, staff positions, technical bulletins, special reports, implementation guides and related proposal-stage literature
> AICPA (American Institute of Certified Public Accountants) — Audit and Accounting Guides and related proposal-stage literature; together with material issued by the AICPA before the release of the Codification in 2009.
>The FASB’s EITF (Emerging Issues Task Force) — 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 - U.S. and International Accounting Standards
Our latest edition features the newest guidance on the most current literature on this subject. This book offers comprehensive guidance on accounting for business combinations, as well as intangible assets and goodwill under both U.S. GAAP and accounting principles issued by the IASB
This covers a broad range of transactions, including:
> Acquisitions of businesses by acquiring assets or stock;
> Acquisitions of noncontrolling interests;
> Leveraged buyouts;
> Reverse acquisitions;
> Rollup transactions; and
> Transfers and exchanges between companies under common control.
Derivatives and Hedging—Interpretations of U.S. GAAP
FASB Topic 815 dispels the myth that accounting or derivatives affects only financial service companies. It includes hedge accounting and addresses the definition of a derivative to include embedded derivatives and many commodity contracts. As a result, Topic 815 affects many commercial companies. This publication interprets Topic 815 to give readers a tool for understanding and applying the FASB's requirements
Topics covered in this publication 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
Accounting for Compensation Arrangements offers professionals comprehensive guidance for applying the complex and expansive requirements of Topic 718,
Compensation — Stock Compensation. 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 in-depth resource provides professionals with a practical reference tool by selectively combining information from the official text of the FASB standards, along with other information drawn from the SEC, AICPA and lessons learned from leading accounting practitioners.
Accounting for Leases - Interpretations U.S. GAAP
Accounting for Leases offers paragraph-by-paragraph interpretations of FASB Topic 840, Leases. It clarifies many implementation issues companies face, many on a very frequent basis. Also, it discusses how to treat leasing transactions in areas not specifically addressed by the FASB or the SEC, and areas that require further explanation. 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 U.S. GAAP
Accounting for sales, transfers and servicing of financial assets and extinguishments of liabilities can be highly complex. FASB Topic 860 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 Topic 860 works. To help you, Financial Assets and Liabilities provides practical, real-world interpretations of Topic 860 in question and answer format. Transactions covered in this publication include:
> Collateralized borrowing
> Purchases or sales of receivables, loans, and securities
> Loan syndications and participations
> Securities lending
> Debt extinguishments and refinancing
> Wash sales
Accounting for Income Taxes - Interpretations of U.S. GAAP
Accounting for Income Taxes provides guidance on the application of FASB Topic 740, Income Taxes. It also provides numerous interpretations of this complex subject.
Topic 740 establishes financial accounting and reporting standards for the effects of income taxes that result from an entity'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 FASB Topic 740 and clarifies the implementation issues resulting from the accounting industry’s literal approach to applying the requirements therein. This publication was authored by a former partner with a major international accounting firm, whose experience included working at the FASB as a practice fellow when the FASB was reconsidering several portions of Topic 740.
GAAP Financial Statements Disclosures Manual
This guide provides a complete, quick and valuable reference source for financial statement disclosures. The Manual contains more than 750 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 section, 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 of the Manual, 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 or the PCAOB.
Engagement Standards
This tool is a resource that helps you quickly locate guidance and resolve practice issues relating to: (1) audit engagements, (2) attestation engagements, and (3) compilation and review engagements, conducted in accordance with U.S. professional standards. Within each section, Engagement Standards provides an overall summary of numerous subtopics and links you to the authoritative and interpretive literature that addresses the subtopic. The interpretive literature provides practical guidance and an effective approach to applying and complying with the authoritative standards and includes numerous practice aids. Engagement Standards serves as your “window to the literature.”
Access our best-selling
GAAS Practice Manual,
Knowledge-Based Audit Procedures,
Knowledge-Based 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
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.
Knowledge-Based Audit Procedures
Knowledge-Based Audit Procedures shows practitioners the most 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 2011 edition of Knowledge-Based Audit™ Procedures discusses the latest activities related to the AICPA Auditing Standards Board’s Clarity Project and has been updated for new auditing pronouncements through SAS 120 (AU 558), Required Supplementary Information. Knowledge-Based Audit™ Procedures is referenced to the accounting guidance presented in the FASB Accounting Standards Codification™.
Knowledge-Based Audits™ of Public Entities: A Guide to PCAOB Standards and SEC Rules provides guidance on the implementation of the standards and rules promulgated by the PCAOB and the SEC for audits of public entities. The practice aids take the practitioner through an engagement from the initial evaluation of a client to the issuance of the auditor’s reports on the client’s internal controls over financial reporting and the financial statements. This guide can be used for integrated audits or audits of financial statements only of publicly traded entities. It has been updated to incorporate the eight new risk assessment standards issued by the PCAOB, which were approved by the SEC in December of 2010, and is current through standards and rules issued and approved through January 2011. Additionally, this guide has been updated to include guidance on the PCAOB’s Staff Audit Practice Alert No. 7, Auditor Considerations of Litigation and Other Contingencies Arising from Mortgage and Other Loan Activities, as well as information on current PCAOB and SEC rule-making activities as of December 31, 2010
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Knowledge-Based Compilations & Reviews
Knowledge-Based Compilations and Reviews examines all applicable compilation and review standards and demonstrates how to conduct engagements in the most efficient and thorough manner possible. Knowledge-Based Compilations and Reviews uses a highly effective methodology for performing compilation and review engagements in concert with specifically developed practice aids. The approach uses knowledge of the entity applied to a specific process designed to facilitate the flow of information and increase efficiency and effectiveness. Included are more than 300 practice aids—checklists, questionnaires, workpapers, sample correspondence, and sample reports—to take the practitioner through all aspects of compilation and review engagements. Knowledge-Based Compilations and Reviews includes careful discussion of the relevant professional standards, in-depth analysis, and numerous illustrations.
Knowledge-Based Compilations and Reviews has been updated for new pronouncements through the issuance of Statement on Standards for Accounting and Review Services (SSARS) No. 19 (Compilation and Review Engagements—2009).
CPA's Guide to Effective Engagement Letters
We've included every type of engagement letter you could possibly need, from audits, tax preparations, and bookkeeping, 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 30 years of experience in auditing practice for clients in a broad spectrum of industries, 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.
Periodic Newsletters termed, "A Closer Look"—A discussion of a current hot topic in accounting or auditing. These are published several times a year. For example, in 2011, an issue was published entitled "Accounting Battle for the Ages - Big GAAP, Little GAAP." In this issue, the ARM Editorial staff discusses the concept of separate GAAP reporting by nonpublic companies in the United States.
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 editorial team takes pride in updating the system on a daily basis, so you stay as current as possible.
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