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Balance Sheet: Reporting Assets - v11 (Course Id 1948)

QAS / Registry
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Author : Jae K. Shim, Ph.D., CPA
Course Length : Pages: 60 ||| Review Questions: 34 ||| Final Exam Questions: 25
CPE Credits : 5.0
IRS Credits : 0
Price : $44.95
Passing Score : 70%
Course Type: NASBA QAS - Text - Technical - NASBA Registry
Primary Subject-Field Of Study:

Accounting - Accounting for Course Id 1948

Description :

An asset is an item of economic value expected to yield a benefit to the owing entity in future periods. To provide information about liquidity, assets are divided into current and noncurrent assets on the balance sheet. 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 discusses generally accepted accounting principles (GAAP) for reporting both current and noncurrent assets on the balance sheet.  The course is designed to help you navigate common asset accounts with specific examples to illustrate the application. 

Usage Rank : 0
Release : 2021
Version : 1.0
Prerequisites : Basic Accounting.
Experience Level : Overview
Additional Contents : Complete, no additional material needed.
Additional Links :
Advance Preparation : None.
Delivery Method : QAS Self Study
Intended Participants : Anyone needing Continuing Professional Education (CPE).
Revision Date : 04-Feb-2022
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 - 1948

Keywords : Accounting, Balance, Sheet, Reporting, Assets, v11, cpe, cpa, online course
Learning Objectives :

Course Learning Objectives

After completing this course, you should be able to:
    1. Recognize basic principles of reporting assets on the balance sheet
    2. Identify accounting procedures for cash and accounts receivable
    3. Recognize how to how to compute inventory balances
    4. Identify the reporting requirements of debt securities
    5. Recognize how to account for and report tangible assets
    6. Identify accounting procedures for amortizing intangible assets
Course Contents :

Part 1:    Financial Reporting Standards

Objectives of Financial Reporting

Uses and Limitations of the Balance Sheet

Characteristics of Assets

Present Right

Right to an Economic Benefit

Recognition and Measurement

IFRS Connection

Review Questions - Section 1

Part 2:    Current Assets

Cash and Cash Equivalents


Accounts Receivable

Notes Receivable

Loans Receivable

Disclosure Requirements

Trading Securities

Review Questions - Section 2


General Rules

Lower of Cost or Market Value

Specialized Inventory Methods

Relative Sales Value Method

Financing Product Arrangements

Other Considerations

Disclosure Requirements

Prepaid Expenses

Review Questions - Section 3

Part 3:    Noncurrent Assets

Long-Term Investments



Property, Plant, and Equipment

General Rules

Types of Depreciation Methods

Natural Resources

Impairment or Disposal

Capitalized Interest

Other Considerations

Disclosure Requirements

Review Questions - Section 4

Intangible Assets

General Rules

Software Arrangements


Review Questions - Section 5


CPE Accounting Course: https://www.cpethink.com/accounting-cpa-courses
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