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| Author : | Jae K. Shim, Ph.D., CPA |
| Status : | Production |
| CPE Credits : | 2.5 |
| IRS Credits : | 0 |
| Price : | $22.45 |
| Passing Score : | 70% |
| NASBA Technical: | Yes |
| Primary Subject-Field Of Study: | Accounting - Accounting for Course Id 1190 |
| Description : | The full disclosure principle, one of 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. Full disclosure is required for the fair presentation of financial statements. This course discusses the disclosures required of companies, including those related to accounting policies, segmental information, related parties, contingencies, long-term purchase contract obligations, inflation, and derivatives. Sample annual reports addressing this requirement are illustrated. |
| Usage Rank : | 0 |
| Release : | 2016 |
| Version : | 1.0 |
| Prerequisites : | Basic Accounting. |
| Experience Level : | Overview |
| Additional Contents : | Complete, no additional material needed. |
| Advance Preparation : | None. |
| Delivery Method : | Self-Study. |
| Intended Participants : | Anyone needing Continuing Professional Education (CPE). |
| Revision Date : | 16-Mar-2017 |
| 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 - NASBA Registry - 1190 |
| Keywords : | Accounting, Full, Disclosures, Financial, Reporting, 2016, cpe, cpa, online course |
| Learning Objectives : |
Course Learning Objectives After completing this course, you should be able to:
2. Identify the types of major accounting disclosures. 3. Recognize the disclosure requirements for major business segments and related party transactions. 4. Recognize disclosure requirements for derivatives, subsequent and interim financial reports. |
| Course Contents : | Chapter 1 - Full Disclosures in Financial Reporting Full Disclosures in Financial Reporting Learning Objectives Increase in Reporting Requirements Major Disclosures Inventory Property, Plant, and Equipment Creditor Claims Equity Holders' Claims Contingencies and Commitments Fair Values Deferred Taxes, Pensions, and Leases Changes in Accounting Principles Changes in Accounting Estimates Change in Reporting Entities Error Corrections Disclosure of Accounting Policies Review Questions – Section 1 Segmental Reporting Review Questions – Section 2 Related Parties Disclosure of Contingencies and Commitments Disclosure of Unconditional Purchase Contract Obligations Guarantees Reporting On the Costs of Start-Up Activities Inflation Information Collaborative Arrangements Disclosures for Derivatives Disclosures for Business Combinations Subsequent Events Review Questions – Section 3 Interim Financial Reports Revenue and Expense Recognition Inventory Taxes Accounting Changes Prior-Period Adjustments Disclosures IFRS versus GAAP about Disclosures Chapter Review Questions – Section 4 Appendix - Annual Report References Whirlpool ConAgra Foods Energizer Holdings Microsoft Glossary |
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