Full Disclosure in Financial Reporting (2.5 hrs)

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Course Description

Full Disclosure in Financial Reporting

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. This course discusses the disclosures required of companies, including those related to accounting policies, long-term purchase contract obligations, segmental information, related parties, risks and uncertainties, and interim financial reporting. This course also provides real-world examples to illustrate the application.

Course information

Price: $39


Course No. 7095
Format: Online pdf (66 pages).
Instructional Delivery Method: QAS Self-Study
Prerequisites: Basic accounting
Advance Preparation: None
Level: Basic to Intermediate
CPE Credit: 2.5 hrs.
Field of Study: Accounting: Technical
Course expiration:  You have one year from date of purchase to complete the course.
Course Revision Date: February 2022

Objectives

After completing this course, participants should be able to:

  • Recognize the full disclosure principle and its implementation
  • Identify information disclosed in the summary of significant accounting policies
  • Recognize common disclosures relating to accounting policies (e.g., revenue recognition, hedges)
  • Identify disclosure requirements for subsequent event, major business segments, related party transactions, risks and uncertainties, and interim financial reporting

Full Disclosure in Financial Reporting Table of Contents

I. Fundamentals
Background
Full Disclosure Principle
Accounting Policies
Subsequent Events
Going Concern

II. Common Disclosures
Revenue Recognition
Inventories
Property, Plant, and Equipment
Fair Values
Derivatives
Business Combinations

III. Unconditional Purchase Contract Obligations

IV. Segmental Reporting
General Rules
Reportable Segment

V. Related Parties

VI. Risks and Uncertainties

VII. Accounting Changes and Error Corrections
Accounting Changes
Error Corrections

VIII. Interim Financial Reporting
General Rules
Revenue and Expense
Inventory
Taxes


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What's your experience? We'd love to know!
chris petkiewicz
Posted 1 month ago
Yeah, good course

Sure glad they want my opinion.

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