Wiley GAAP 2026: Interpretation and Application of Generally Accepted Accounting Principles

Joanne M. Flood, CPA (Author)

ISBN: 9781394427284

Published: Jun 2026

Format: Paperback

Language: English

Publisher: John Wiley & Sons

Description

Wiley GAAP 2026 is the definitive practitioner's guide to interpreting and applying current U.S. Generally Accepted Accounting Principles, fully updated for the FASB standards now taking effect. Written by Joanne M. Flood, CPA, a former AICPA senior manager for accounting and auditing professional development, the guide works through all Financial Accounting Standards Board (ASC) topics with plain-English explanations, GAAP source citations, practice-oriented examples and illustrations designed for accountants preparing or reviewing financial statements under U.S. GAAP.

Key Features

• Full chapter-by-chapter coverage of all 64 ASC topic areas, from Topic 105 through the 900-series, each with GAAP perspective, source citation, illustrative examples and definitions
• Updated for recent FASB changes including expense presentation and disaggregation (ASU 2024-03), business combinations, internal-use software, and credit losses (ASU 2025-08)
• Includes a Definitions appendix and a Disclosure Checklist appendix built for financial statement preparation and close-season lookup

Coverage

1,360 pages organized into 64 chapters spanning general principles, financial statement presentation, revenue, expenses, financial instruments, liabilities, equity, business combinations, and specialized industry topics, plus appendices covering definitions and disclosure checklists.

About the Authors

Joanne M. Flood, CPA, MBA, has extensive experience with small business and large enterprise accounting clients, including Big Four and regional firm work. She previously served as a senior manager in the AICPA's Professional Development group, where she managed accounting and auditing course content. She holds an MBA in Accounting, summa cum laude, from Adelphi University.

Table of Contents

64 chapters covering ASC Topics 105 through 900, organized by financial statement area (presentation, assets, liabilities, equity, revenue and expenses) and by transaction or industry topic (business combinations, financial instruments, leases, revenue recognition, and specialized industries), followed by a Definitions appendix and a Disclosure Checklist appendix.

Why buy this book?

With the FASB's new expense-disaggregation disclosure requirement (ASU 2024-03) effective for annual periods beginning after 15 December 2026, and continued updates to credit-loss and business-combination guidance, accounting teams and their advisers need a single, current reference for what U.S. GAAP now requires — this is that reference, updated annually and organized for fast lookup during close and audit season.

Keywords

US GAAP, Wiley GAAP 2026, FASB, ASC codification, financial reporting, GAAP compliance, expense disaggregation, disclosure checklist, accounting standards, financial statement preparation

Target Audience

Accountants and controllers preparing U.S. GAAP financial statements, auditors, CFOs and finance teams at multinational subsidiaries reporting to U.S. parents, accounting libraries

Genre

Accounting, Financial Reporting, U.S. GAAP, Auditing Reference

Q&A

Q: What does Wiley GAAP 2026 cover that earlier editions didn't?

A: The 2026 edition is updated for the FASB's most recent standards, including new expense presentation and disaggregation requirements, and updated guidance on business combinations, internal-use software costs, and credit losses (ASC 326) reflecting FASB ASU 2025-08, issued in November 2025.

Q: When does the FASB's new expense disaggregation disclosure requirement take effect?

A: The disaggregation of income statement expenses requirement (ASU 2024-03) applies to all public business entities for annual reporting periods beginning after 15 December 2026, with interim periods following a year later; early adoption is permitted.

Q: Is Wiley GAAP 2026 suitable for non-U.S. accounting teams?

A: Yes — it is widely used by finance teams at multinational subsidiaries and foreign private issuers that must report under U.S. GAAP to a U.S. parent, exchange, or regulator, in addition to U.S.-based accountants and auditors.

Q: How is the book organized?

A: Across 1,360 pages and 64 chapters, it follows the FASB's Accounting Standards Codification (ASC) topic by topic, from ASC 105 through the 900-series, with a Definitions appendix and a Disclosure Checklist appendix for financial statement preparation.

Q: Where can I buy Wiley GAAP 2026?

A: Wiley GAAP 2026: Interpretation and Application of Generally Accepted Accounting Principles is available now from CLNZ Books, Bookseller for Professionals Worldwide, with pricing that includes worldwide shipping.

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