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| Author : | Jae K. Shim, Ph.D., CPA |
| Status : | Production |
| CPE Credits : | 4.5 |
| IRS Credits : | 0 |
| Price : | $40.45 |
| Passing Score : | 70% |
| Course Type: | NASBA QAS - Text - Technical - NASBA Registry |
| Primary Subject-Field Of Study: | Accounting - Accounting for Course Id 880 |
| 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. |
| Usage Rank : | 0 |
| Release : | 2019 |
| Version : | 1.0 |
| Prerequisites : | Basic Accounting. |
| Experience Level : | Overview |
| Additional Contents : | Complete, no additional material needed. |
| Additional Links : |
Balance Sheet BASF Online Report 2016
|
| Advance Preparation : | None. |
| Delivery Method : | Self-Study |
| Intended Participants : | Anyone needing Continuing Professional Education (CPE). |
| Revision Date : | 11-Dec-2019 |
| NASBA Course Declaration : | Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam. |
| Approved Audience : | NASBA QAS - Text - Technical - NASBA Registry - 880 |
| Keywords : | Accounting, Balance, Sheet, Reporting, Assets, cpe, cpa, online course |
| Learning Objectives : |
Chapter 1
Chapter 2
Chapter 3
Chapter 4
|
| Course Contents : | Chapter 1: Cash and Receivables Learning Objectives Cash Receivables Accounts Receivable Notes Receivable Loans Receivable Impairment of Loans Determining the Value of an Impaired Loan Evaluating Loan Collectibility Income Recognition Disclosure Requirements Lending to or Financing the Activities of Others Chapter 1 Review Questions Chapter 2: Inventory Learning Objectives Inventory Purchase Contract Commitments Freight Terms Consigned Goods Financing Product Arrangements Lower of Cost-or-Market Value (LCM) Retail Method Retail Lower-of-Average-Cost-or-Market-Value (Conventional Retail) Method Retail LIFO Dollar-value LIFO Base Stock Method Costs Excluded from Inventory Standard Costing Relative Sales Value Method Stripping Costs Research and Development Terminated Contracts Discontinued Operations Taxes Disclosures Prepaid Expenses Long-Term Investments Fair Value Option for Long-Term Notes Receivable Chapter 2 Review Questions Chapter 3: Fixed Assets Learning Objectives Fixed Assets Self-Constructed Assets Donation of Fixed Assets Writing up Fixed Assets Land and Land Improvements Repairs Environmental Depreciation Accounting for the Impairment of Long-Lived Assets and Related Considerations Long-Term Assets to Be Retained and Used Capitalized Interest Nonmonetary Transactions Accounting for Barter Transactions Involving Barter Credits Involuntary Conversion Asset Retirement Obligations Present Value Method Disclosures Chapter 3 Review Questions Chapter 4: Natural Resources and Intangibles Learning Objectives Natural Resources Intangible Assets Software Hosting Arrangements Goodwill General Rules Simplifying the Impairment Test Private Company Accounting Alternative Fair Value of Financial Assets Fair Value Accounting Disclosures Leeway in Valuing Financial Assets Other Assets Chapter 4 Review Questions Annual Report References Walt Disney Comcast Glossary |
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