CPE: 8 hours
Category: Accounting & Auditing
Advanced prep: None
Who should attend: CPAs in public practice and industry who are responsible for the preparation of non-public financial statements and practitioners who will undergo peer review.
Financial statement disclosure requirements have become more complex over the past decade, resulting in issues for CPAs and financial professionals responsible for financial statement preparation. Learn to explain and illustrate disclosure requirements; clarify misconceptions of practice problems, such as fair value; and correct the disclosure deficiencies most frequently cited by peer reviewers. Make sure your financial statements are above reproach.
Note: This course does not focus on SEC reporting requirements.
- Determine how to prepare disclosures necessary for privately held companies.
- Identify how debt violations impact classification.
- Recognize common disclosure deficiencies and learn to correct them.
- Common disclosure deficiencies noted in practice
- Changes in subsequent events, going concern, loss contingencies, financial instruments and fair value
- Risks and uncertainties and accounting policies
- Liabilities: How debt violations impact classification
- Uncertain tax positions
- Accounting changes, error corrections and other categories in the income statement
- Cash flows statement