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Author: |
Jae K. Shim, Ph.D., CPA |
Course Length: |
Pages: 75 ||| Word Count: 30,992 ||| Review Questions: 27 ||| Final Exam Questions: 25 |
CPE Credits: |
5.0 |
IRS Credits: |
0 |
Price: |
$44.95 |
Passing Score: |
70% |
Course Type: |
Text |
Technical Designation: |
Technical |
Field Of Study: |
Accounting |
Approved Audience: |
NASBA QAS - NASBA Registry |
Key Takeaways: |
This course addresses the proper reporting, classification, and valuation of assets on the balance sheet under United States generally accepted accounting principles.
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Frequently Asked Questions: |
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Description: |
Assets often account for a major part of an entity's total value, representing economic resources it owns, such as cash, inventory, buildings, and equipment. These sources are used to generate revenue, balanced by liabilities and equity on the balance sheet. Assets are divided into current (convertible to cash within a year) and noncurrent assets (long-term) on the balance sheet to show how liquid the entity is. A clear and correct understanding of asset divisions, their representation, and proper valuation is essential to accurately portraying an entity's financial health. This course is designed to help you navigate common asset accounts using U.S. GAAP, with specific examples to illustrate the application. |
Usage Rank: |
100000 |
Release: |
2025 |
Version: |
1.0 |
Prerequisites: |
Basic Accounting. |
Experience Level: |
Overview |
Additional Contents: |
Complete, no additional material needed. |
Additional Links: |
Internal: Accounting for Held‑for‑Sale Assets - CPE Course
Internal: Current Assets & Asset Valuation - CPE Course
External: Breaking Down the Balance Sheet
External: Asset
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Advance Preparation: |
None. |
Delivery Method: |
QAS Self Study |
Intended Participants: |
Anyone needing Continuing Professional Education (CPE). |
Revision Date: |
23-Dec-2025 |
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. |
Keywords: |
Balance Sheet: Reporting Assets - v15 - CPE course for CPAs |
Learning Objectives: |
Course Learning Objectives After completing this course, you should be able to:
2. Identify accounting procedures for cash and accounts receivable 3. Identify the reporting requirements of debt securities 4. Recognize how to account for and report tangible and intangible assets |
Course Contents: |
Chapter 1: Financial Reporting Fundamentals Conceptual Framework Objective of Financial Reporting Qualitative Characteristics of Useful Information Core Accounting Concepts Accrual Accounting Characteristics of Assets Recognition and Measurement Classification of Assets Introduction to the Balance Sheet Complete Set of Financial Statements Structure of the Balance Sheet Limitations IFRS Connection Chapter 1 Review Questions Chapter 2: Current Assets Cash and Cash Equivalents Receivables Overview Accounts Receivable Notes Receivable Loans Receivable Trading Securities Inventory Overview Valuation Methods Subsequent Measurement Specialized Inventory Methods Chapter 2 Review Questions Chapter 3: Long-Term Investments Debt Securities Overview Classification of Debt Securities Impairment Equity Securities Overview Measurement Impairment Chapter 3 Review Questions Chapter 4: Property, Plant, and Equipment Initial and Subsequent Measurement Acquisition Cost Subsequent Expenditures Depreciation Key Components Depreciation Methods Units of Production Long-lived Asset Impairment Interest Capitalization General Rules Capitalization Period Amount to Be Capitalized Other Considerations Change in Estimates Natural Resources Chapter 4 Review Questions Chapter 5: Intangible Assets Goodwill Overview General Goodwill Model Goodwill Accounting Alternative General Intangibles Overview Determination of Useful Life Amortization Impairment Loss Measurement Internal-Use Software Overview Capitalizable Costs Amortization and Impairment of Capitalized Cost Crypto Assets Chapter 5 Review Questions Glossary |
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