The article "Wiley GAAP 2007" covers various accounting principles and practices, including balance sheets, income statements, cash flows, and revenue recognition. It also delves into topics like long-term assets, investments, business combinations, and liabilities. Specialized industry GAAP for sectors like banking, insurance, and not-for-profit organizations are discussed as well. The goal is to provide a comprehensive guide to interpreting and applying generally accepted accounting principles. Key findings include detailed explanations of revenue recognition principles, accounting for long-lived assets, and reporting requirements for different industries.