Balance Sheet: Reporting Assets (5 hrs)

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Course Description

Asset Reporting on the Balance Sheet

This course discusses generally accepted accounting principles (GAAP) for asset reporting on the balance sheet. An asset is an item of economic value that is expected to yield a benefit to the owing entity in future periods. Assets are classified as being either current or noncurrent assets. A current asset, such as cash, account receivable, and prepaid expenses, is expected to be consumed within one year, while noncurrent assets, such as long-term investments, property, plant and equipment, and intangible assets, are to be consumed in more than one year. This course includes a discussion of both current and noncurrent assets. For example, promulgated GAAP for current assets is provided in ASC 210-10-45-1 through 45-4, Balance Sheet: Overall. Receivables are covered in ASC 310 Receivables comprising nonrefundable fees, loans and debt securities, and troubled debt restructurings by creditors. Guidance on the accounting and reporting of inventory is provided in ASC 330 Inventory. ASC 360 Property, Plant, and Equipment provides guidance on accounting for long-lived tangle assets such as land and land improvements, buildings, and equipment.

This course is included in the MEGA CPE Bundle.

Course information

Price: $67

Course No. 7034
Format: Online pdf (107 pages).
Instructional Delivery Method: QAS Self-Study
Prerequisites: Basic Accounting
Advance Preparation: None
Level: Basic to Intermediate
CPE Credit: 5 hrs.
Field of Study: Accounting
Course expiration:  You have one year from date of purchase to complete the course.
Course Revision Date: May 2021


After completing this course, participants should be able to:

  1. Recognize basic principles of reporting assets on the balance sheet
  2. Identify accounting procedures for cash and accounts receivable
  3. Recognize how to how to compute inventory balances
  4. Identify the reporting requirements of debt securities
  5. Recognize how to account for and report tangible assets
  6. Identify accounting procedures for amortizing intangible assets

Ratings and Reviews

Avg. Rating
5 Ratings
What's your experience? We'd love to know!
Ronald Maryhew
Posted 2 months ago
Great Course and Refresher

Great course and refresher! Content covered a great deal of detail information pertaining to the accounting and reporting of assets.

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Syamaladevi Prasad Duggirala
Posted 11 months ago
The subject matter has been presented satisfactorily

Good Presentation

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chris petkiewicz
Posted 2 years ago
Good course, yeah…

Good course for refresher on some financial accounting info

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Mohammed Sami Aghbar
Posted 2 years ago
Good course

It's really a good & useful course

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Zachary Merritt
Posted 4 years ago

Good refresher course.

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