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| Author : | Jae K. Shim, Ph.D., CPA |
| Course Length : | Pages: 28 ||| Review Questions: 18 ||| Final Exam Questions: 13 |
| CPE Credits : | 2.5 |
| IRS Credits : | 0 |
| Price : | $22.45 |
| Passing Score : | 70% |
| Course Type: | NASBA QAS - Text - Technical - NASBA Registry |
| Primary Subject-Field Of Study: | Accounting - Accounting for Course Id 1190 |
| Description : | The full disclosure principle, one of the major accounting principles, requires that information provided in financial statements be sufficiently complete to avoid misleading users of the reports by omitting significant facts of information. The full disclosure principle also refers to revealing information that would be useful in the decision-making processes of informed users. This course discusses the disclosures required of companies, including those related to accounting policies, long-term purchase contract obligations, segmental information, related parties, risks and uncertainties, and interim financial reporting. This course also provides real-world examples to illustrate the application. |
| Usage Rank : | 0 |
| Release : | 2022 |
| Version : | 1.0 |
| Prerequisites : | Basic Accounting. |
| Experience Level : | Overview |
| Additional Contents : | Complete, no additional material needed. |
| Additional Links : |
Financial Statements: List of Types and How to Read Them
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| Advance Preparation : | None. |
| Delivery Method : | QAS Self Study |
| Intended Participants : | Anyone needing Continuing Professional Education (CPE). |
| Revision Date : | 12-Jan-2023 |
| 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 - 1190 |
| Keywords : | Accounting, Full, Disclosure, Financial, Reporting, v12, cpe, cpa, online course |
| Learning Objectives : |
Course Learning Objectives After completing this course, you should be able to:
2. Identify information disclosed in the summary of significant accounting policies 3. Recognize common disclosures relating to accounting policies (e.g., revenue recognition, hedges) 4. Identify disclosure requirements for subsequent event, major business segments, related party transactions, risks and uncertainties, and interim financial reporting |
| Course Contents : | Chapter 1 - Full Disclosure in Financial Reporting I. Fundamentals Background Full Disclosure Principle Accounting Policies Subsequent Events Going Concern Review Questions - Section 1 II. Common Disclosures Revenue Recognition Inventories Property, Plant, and Equipment Fair Values Derivatives Business Combinations III. Unconditional Purchase Contract Obligations IV. Segmental Reporting General Rules Reportable Segment Review Questions - Section 2 V. Related Parties VI. Risks and Uncertainties VII. Accounting Changes and Error Corrections Accounting Changes Error Corrections Review Questions - Section 3 VIII. Interim Financial Reporting General Rules Revenue and Expense Inventory Taxes XI. Other Matters Guarantees Collaborative Arrangements Inflation Information IFRS versus U.S. GAAP Review Questions - Section 4 Glossary |
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