Full Disclosures in Financial Reporting

Course Information

(No Reviews Yet)
Title: Full Disclosures in Financial Reporting
Category: Accounting and Auditing
Field of Study: Accounting
Course Code: A022-0387
CPE Credits: 2.5
Price: 24.95

Description

Description:

The full disclosure principle, one of the major accounting principles, requires that information provided in financial statements be sufficiently complete to avoid misleading users of the reports by omitting significant facts of information. The full disclosure principle also refers to revealing information that would be useful in the decision-making processes of informed users. Full disclosure is required for the fair presentation of financial statements. This course discusses the disclosures required of companies, including those related to accounting policies, segmental information, related parties, contingencies, long-term purchase contract obligations, inflation, and derivatives. Sample annual reports addressing this requirement are illustrated.

Delivery Method: Online Interactive Self Study

Level: Overview

Prerequisites: None

Advanced Preparation: None

Course Details

Category: Accounting and Auditing

Field of Study: Accounting

Passing Score: 70%

Technical Details: Accounting: Technical

For More Detail:

If you are unable to view PDF then right click the mouse and click save link as

Objectives

Objectives:

1. Recognize the full disclosure principle and its implementation 2. Identify information disclosed in the summary of significant accounting policies 3. Recognize common disclosures relating to accounting policies (e.g., revenue recognition, hedges) 4. Identify disclosure requirements for subsequent event, major business segments, related party transactions, risks and uncertainties, and interim financial reporting

For More Objectives:

If you are unable to view PDF then right click the mouse and click save link as

Profession

NASBA: Yes

QAS: Yes

CPA: Suitable for all CPAs

IRS: No IRS credit for Enrolled Agents.

Profession Identifiers: CPA