This course provides an overview of the key presentation requirements with respect to an entity’s financial statements. This includes a discussion of key principles related to an entity’s overall presentation as well as specific topics with respect to its balance sheet, income statement, comprehensive income, statement of cash flows, as well as notes to the financial statements. The course also addresses the considerations around changes in accounting principles. The information related to this course is primarily sourced from the Financial Standards Accounting Board’s (FASB) Accounting Standards Codification (ASC).
Course Publication Date:
September 14, 2022
This course is available with
NO ADDITIONAL FEE if you have an active
self study membership or
all access membership or can be purchased for
$40.00!
| Author: | Kelen Camehl |
| Course No: | ACT-PRESENT-8032 |
| Recommended CPE: | 4.00 |
| Delivery Method: | QAS Self Study |
| Level of Knowledge: | Overview |
| Prerequisites: | None |
| Advanced Preparation: | None |
| Recommended Field of Study: | Accounting
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Learning Objectives
- Recognize overall financial statement presentation requirements.
- Identify requirements for discontinued operations and liquidation basis of accounting reporting.
- Determine when certain balance sheet accounts can be offset.
- Identify presentation requirements for the income statement and comprehensive income.
- List the different methods used for statement of cash flow presentation.
- Differentiate between operating, financing, and investing activities in the statement of cash flows.
- Identify disclosure requirements with respect to an entity’s accounting policies.
- Recognize the requirements regarding changes in accounting principles.