Understanding Financial Statement Disclosures (FFSD)

Customer Rating
Field of Study
Accounting
Level
Basic
Credits
4
Qualifies For
CPE



Price:  $ 39.99

A clear and concise set of proper financial statement disclosures can make or break an entity’s financial statements. Such disclosures are no longer simply additional information provided by a business; they can be complex in nature and difficult to both prepare and understand, especially for small and medium-sized businesses. Oftentimes financial statement users will first turn to the notes in the financial statements in order to get a feel for where the business and its numbers might be heading, so these disclosures need to be well-written and follow applicable standards. This course will focus on key balance sheet and income statement disclosure as well as those relating to adoption of new accounting standards related to revenue (ASC 606) and leases (ASC 842), accounting policies, changes in accounting estimates and errors, subsequent events, going concern, and related party disclosures. The course will use illustrations, examples based on private company financial statements disclosures, and real-world excerpts from financial statements to provide you with a hands-on feel for the disclosure requirements across a number of accounting standards.

Additional information

year

2023

version

01

Credits

4

Company Code

Self Study

Format

On Demand

Yellow Book Approved

0

CFP Approved

0

IRS Approved

0

CTEC Approved

0

Field of Study Credits

Accounting (4)

Field of Study Department

Accounting

Course Version

2023-01

CPE Approved

1

Pre-requistes:

None

Knowledge Level:

Basic

Major Topics:

  • Balance sheet, income statement, and statement of cash flows presentation and disclosure issues
  • Developing disclosure issues, including disclosures related to the adoption of Topic 606
  • Financial statement disclosures for small and medium-sized businesses
  • Disclosure examples from all sized entities which you can use to base your disclosures on

Learning Objectives:

• The FASB Accounting Standards CodificationTM;

• SFAC No. 8, Conceptual Framework for Financial Reporting;

• The key role risk factors play in financial statement disclosures; and

• The “Summary of Significant Accounting Policies” financial statement disclosure.

Designed For:

CPAs and other accounting professionals in public practice and business and industry involved in preparing financial statement disclosures for small and medium-sized businesses

Customer Reviews

Based on 3 reviews
100%
(3)
0%
(0)
0%
(0)
0%
(0)
0%
(0)
P
Pamela N. (Wilmington, US)
Useful course

This course was very helpful and I have already found myself using what I learned to prepare, sort, and filter tables in Excel.

J
Jennifer S. (Foster, US)

Excel: Audit & Analytical Uses for Filters & Tables (AUMC)

L
Lauren V.D. (Montgomery Village, US)

Excel: Audit & Analytical Uses for Filters & Tables (AUMC)