Beginning July 1, 2009, the Financial Accounting Standards Board's (FASB's) Accounting Standards Codification™ (ASC) has superseded virually all promulgated generally accepted accounting principles (GAAP), replacing what had previously comprised four levels in the GAAP hierarchy with a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. GAAP, it has comprehensively reorganized the myriad GAAP rules (FASB statements, AICPA statements of position, EITF consensus, 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 2011 contains, as did its predecessor editions, complete coverage of all levels of GAAP, now indexed to the ASC. Wiley GAAP renders GAAP more understandable and accessible for research, and has been designed to reduce the amount of time and effort needed to solve accounting research issues. As it has since its inception in 1985, Wiley GAAP provides interpretive guidance and a wealth of real-world, content-rich examples and illustrations to provide the type of insight into the application of complex financial reporting rules that traditional handbooks and their"plain vanilla" illustrations simply cannot offer. Wiley GAAP 2011 is your one necessary authoritative guide to GAAP under the condification system. This invaluable resource makes learning the ASC system a breeze, with at-your-fingertips information that does the work for you. Practicable and reliable, Wiley GAAP 2011 is the essential tool to navigate these waters.