Disclosure Requirements - Rev Rec, Leases, Business Combinations, CECL and Segments (Course Id 2013)

• Who is this course for?
  This 2-credit NASBA QAS self-study course is designed for CPAs, financial statement preparers, and accounting professionals responsible for ensuring compliance with financial disclosure standards under U.S. GAAP.

• What is this course about or what problem does this course solve?
  The course clarifies financial statement disclosure requirements across five high-impact areas: revenue recognition, leases, business combinations, CECL, and segment reporting—helping professionals meet regulatory expectations with clear, complete disclosures.

• How can the knowledge from this course be used?
  Learners will apply ASC requirements to construct appropriate disclosures, distinguish between reportable segment and entity-wide data, present CECL roll-forwards, and ensure compliance with ASC 606, ASC 842, ASC 805, ASC 326, and segment guidance.

• Why is this course important to a CPA, Accountant, or IRS Enrolled Agent?
  Disclosure accuracy is critical to audit integrity, investor transparency, and regulatory compliance; this course enhances understanding of standards that are often the focus of SEC reviews and audit findings.

• When is this course relevant or timely?
  With its 2024 release and January 2024 revision, it remains highly timely, covering current FASB disclosure mandates applicable to year-end and quarterly financial reporting.

• How is a course like this consumed or used?
  Provided as a NASBA-approved self-study text course, it includes review questions and a final exam. CPE credit is awarded upon scoring 70% or higher, with completion required within one year of enrollment.

This course provides an overview of the financial statement disclosure requirements related to several of the key accounting areas within U.S. GAAP.  This includes disclosures related to revenue from contracts with customers, lease transactions, business combination transactions, current expected credit losses, as well as segments.  Information presented in this course is primarily sourced from the FASB Accounting Standards Codification (ASC).

NASBA QAS - Text - NASBA Registry - 2013

Course Learning Objectives

• Identify disclosure requirements related to revenue from contracts with customers
• Recognize both qualitative and quantitative disclosure requirements for both lessees and lessors
• Identify disclosures related to business combination transactions
• Recognize disclosure requirements based on the CECL standard
• Differentiate between disclosures for reportable segments vs. entity-wide

Chapter 1 - Disclosure Requirements - Rev Rec, Leases, Business Combinations, CECL and Segments

Course Learning Objectives

Course Overview

Revenue Recognition Disclosures

Review Questions

Lease Transaction Disclosures

Review Questions

Business Combinations Disclosures

Review Questions

CECL Disclosures – Assets Measured at Amortized Costs

Review Questions

CECL Disclosures – Available-for-Sale Debt Securities

Review Questions

Segment Reporting Disclosures

Reportable Segments Only

Entity Wide

Review Questions

Glossary of Key Terms