Financial Reporting Issues

Full Disclosures in Financial Reporting (Updated - 3)

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.

Learning Objectives:

  • Recognize the full disclosure principle and its implementation.
  • Identify the types of major accounting disclosures.
  • Recognize the disclosure requirements for major business segments and related party transactions.
  • Recognize disclosure requirements for derivatives, subsequent events and interim financial reports.


Prerequisites/Advanced Preparation:

Basic Accounting


Speaker / Author:

Steve Spafford, MBA, CPA, has over 20 years’ experience as a CPA working with large public accounting firms, and in numerous executive roles at multinational public corporations. He is a member of DeltaCPE LLC, a leading publisher of continuing professional education courses for CPAs, and has edited CPA ethics courses provided to over 35 states.

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Price (USD)

Standard: $49.90

Details

Course Code : 99DEL29-v3

Release Date : 10/12/2020
Expire Date : 10/31/2022
Credits :
CPE 2.00
QAS 2.00

Length : 1hr 40min
Course Level : Basic/Intermediate
Course Type : Self-Study
Format Type : eLearning
Mobile Compatible
Field Of Study : Accounting


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