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Course Details

Full Disclosure in Financial Reporting - v12 (Course Id 1190)

Updated / QAS / Registry
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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 :
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:
    1. Recognize the full disclosure principle and its implementation
    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


Full Disclosure Principle

Accounting Policies

Subsequent Events

Going Concern

Review Questions - Section 1

II. Common Disclosures

Revenue Recognition


Property, Plant, and Equipment

Fair Values


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



XI. Other Matters


Collaborative Arrangements

Inflation Information

IFRS versus U.S. GAAP

Review Questions - Section 4


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