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Course Description
Financial Statement Disclosure
Accounting & Auditing
(8
credits)
$109.95
Financial statement disclosure requirements have increased both for privately-held and publicly-owned companies. This seminar reviews the Statement of Cash Flows, measuring and reporting asset impairments, new ways to measure and report earnings including pro forma disclosures, the new disclosure requirements under Statements of Financial Accounting Standards for intangibles, asset retirement, and debt extinguishment. Traditional areas covered include:
- investments in debt and equity securities
- financial instruments & leases transactions
- pension & retirement plans & business segment reporting
There is a discussion of the implications of increased disclosure requirements for small practitioners. The recent accounting scandals in companies like Enron, WorldCom, Adelphia, Tyco, Global Crossing, and Qwest are reviewed to assess disclosure inadequacies. A practical case study will be used in this course.
The discussions emphasize disclosures that enhance the usefulness of financial statements to business owners and creditors.
Major
Subjects:
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The What, Where and Why of Financial Disclosures
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Disclosure and Recent Accounting Scandals
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Disclosure Requirements Checklist
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Disclosure Requirements for Compilation and Review Engagements
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Disclosure Requirements in Cash - and Tax - Basis Financial Statements
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Comprehensive Income
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Statement of Cash Flows
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Disclosure of Certain Significant Risks & Uncertainties
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Disclosing Contingencies
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Disclosure Lease Commitments
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Pension & Other Postretirement Benefit Disclosures
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Disclosing Desegregated Information
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Derivative Instruments and Hedging Activities
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Disclosure Requirements for Changes in Fair Values of Long-Lived Assets and Fair Value Amounts
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Auditor Concerns - Additional Disclosure Issues
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| Contributing
Author: |
Seid Sadat, CPA
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| Course Level: |
Basic |
| Prerequisite: |
None |
| ProductCode: |
06BFSD |
| Format: |
NASBA QAS/Registry self-study |
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For licensing information, click on the Licensing Information
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