Course 6 - Current Assets and Asset Valuation (Video) (Course Id 1899)

• Who is this course for?
  This course is for CPAs and accounting professionals seeking Continuing Professional Education (CPE) who want to understand how current assets are managed and reported in financial statements.

• What is this course about or what problem does this course solve?
  The course focuses on accounting for current assets such as receivables, inventory, and investments, and explains how asset valuation methods impact financial statement presentation.

• How can the knowledge from this course be used?
  Learners can apply the content to evaluate asset reporting, manage bad debts, choose inventory valuation methods, and understand the effects of different asset valuation approaches on financial statements.

• Why is this course important to a CPA, Accountant, or IRS Enrolled Agent?
  Proper management and valuation of current assets are critical for accurate financial reporting, making this knowledge essential for CPAs responsible for audits, analysis, or financial oversight.

• When is this course relevant or timely?
  This course is highly relevant during periods of inventory fluctuation, economic uncertainty, or financial statement preparation where asset accuracy is vital for decision-making.

• How is a course like this consumed or used?
  Offered as a NASBA QAS self-study video course, it includes five video sections with review and final exam questions, awarding 2.5 CPE credits upon successful completion with a passing score of 70%.

This course is course 6 in the 8-course series on Financial Reporting and Analysis offered by PRATTedu.  It is comprised of 5 videos, focusing on how companies manage and account for the primary current assets: accounts receivable, inventory and some investments.  It also provides a broad discussion of the general ways in which assets are depicted on the financial statements.  The financial statements and the footnotes of the companies featured in this course include Caterpillar Financial, Caterpillar Manufacturing, John Deere, Nordstrom, Yahoo, Barnes & Noble, and Amazon.

Video - NASBA QAS - Text - NASBA Registry - 1899

Course Learning Objectives

• Describe how receivables appear on the balance sheet and explain how bad debts are accounted for.
• List and describe the four basic issues involved in accounting for merchandise inventory.
• Differentiate raw materials, work in process and finished goods, and explain how costs are attached to the inventory account as products move through the manufacturing process and are eventually sold.
• List and define the three primary inventory cost flow assumptions and how they affect both the balance sheet and the income statement.
• List and describe the basic asset valuation approaches and explain how each approach affects the financial statements.

Chapter 1 - Current Assets and Asset Valuation - Section 1

Chapter 1 - Section 1 Review Questions

Chapter 1 - Current Assets and Asset Valuation - Section 2

Chapter 1 - Section 2 Review Questions

Chapter 1 - Current Assets and Asset Valuation - Section 3

Chapter 1 - Section 3 Review Questions

Chapter 1 - Current Assets and Asset Valuation - Section 4

Chapter 1 - Section 4 Review Questions

Chapter 1 - Current Assets and Asset Valuation - Section 5

Chapter 1 - Section 5 Review Questions

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