CPE Online Course Detail


Balance Sheet: Reporting Assets

Price :   $39.95
CPE Credits :   4.5
Course Code :   A015-0403
Category :   Accounting and Auditing
  

Description:
This course discusses generally accepted accounting principles (GAAP) for reporting assets on the balance sheet. An asset is an item of economic value that is expected to yield a benefit to the owing entity in future periods. Assets are classified as being either current or noncurrent assets. A current asset, such as cash, account receivable, and prepaid expenses, is expected to be consumed within one year, while noncurrent assets, such as long-term investments, property, plant and equipment, and intangible assets, are to be consumed in more than one year. This course includes a discussion of both current and noncurrent assets. For example, promulgated GAAP for current assets is provided in ASC 210-10-45-1 through 45-4, Balance Sheet: Overall. Receivables are covered in ASC 310 Receivables comprising nonrefundable fees, loans and debt securities, and troubled debt restructurings by creditors. Guidance on the accounting and reporting of inventory is provided in ASC 330 Inventory. ASC 360 Property, Plant, and Equipment provides guidance on accounting for long-lived tangle assets such as land and land improvements, buildings, and equipment.


Delivery Method: Online Interactive Self Study


Level: Overview


Prerequisites: None


Advanced Preparation: None


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Author: Delta Publishing


Category: Accounting and Auditing


Field of Study: Accounting


Passing Score: 70%


Publication Date: 11/23/2016


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Objectives:
Chapter 1: Cash and Receivables
* Recognize how to properly account for and classify assets.
* Indicate how cash and related items are reported.
* Recognize receivables and how to correctly factor and assign them.
* Identify correct disclosure requirements for receivables.


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NASBA: Yes


QAS: Yes


CPA: Suitable for all CPAs


IRS: Enrolled Agents Program Number




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