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Course Details

Full Disclosures in Financial Reporting - v10 (Course Id 1190)

QAS / Registry
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Author : Jae K. Shim, Ph.D., CPA
Course Length : Pages: 33 ||| Review Questions: 15 ||| 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. 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 : 2020
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 : 13-Jan-2021
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, Disclosures, Financial, Reporting, v10, 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 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


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


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



Accounting Changes

Prior-Period Adjustments


IFRS versus GAAP about Disclosures

Chapter Review Questions - Section 4

Appendix A: Ford Motor Company - Changes in Accounting Principles

Appendix B: Hertz - Error Restatements

Appendix C: Walgreens - Disclosures of Accounting Policies

Appendix D: Comcast - Related Party Transaction

Appendix E: NIKE Inc. - Disclosure of Contingencies and Commitments

Appendix F: Microsoft - Disclosures for Business Combinations

Appendix G: Syros Pharmaceuticals, Inc.  - Subsequent Events


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