Accounting  |  Format: Flash

Full Disclosures in Financial Reporting (Updated - 2)

Course Overview
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.

Learning Objectives
After completing this course, the course participant should be able to:

  • 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.
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    Catalog Number: 99DEL29-v2
    CPE Credits: 2 Registry / 2 QAS
    Author: Steve Spafford, CPA
    Prerequisites/
    Advanced Preparation:
    Basic Accounting
    Course Level: Basic
    Field of Study: Accounting
    Content Partner: SmartPros Ltd.
    QAS: QAS Certified based on 50 minute hours.
    Course Type: Self-Study
    Minimum Passing Grade: 70%
    Soft/Hardware Reqs.:  Adobe Acrobat® Reader for the .pdf files
     Adobe® Flash® Player 9 or higher
     56k or Greater Internet Connection
     Modern DHTML Compatible Browser
     Ram: 256 MB minimum
     Windows or Mac OS
    Release/Expiration Dates: Sep 05, 2018 / Sep 05, 2020

     

     

     

     

     

     

    http://education.smartpros.com/includes/cpe/coursedetail.asp?CPECatalogID=25565&CourseID=18329