Preparing Financial Statements and Analysis

Principles of Financial Statement Presentation - ASC 200

Course Overview
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).



Learning Objectives:

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

  • 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
  • Describe 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
  • Describe the disclosures required in the event of substantial doubt of an entity’s ability to continue as a going concern

  • Content Partner:

    SmartPros Ltd.

    SmartPros Ltd. is a leader in online and offline continuing education for
    accounting, finance and engineering professionals. With over 2,000 hours of
    content, SmartPros has been providing mandatory continuing education
    products since 1981. SmartPros provides services and content to its
    professional and corporate clients, in a variety of media including Web, CD
    ROM, and video. In the accounting market, SmartPros also has a predominant
    news and information portal which receives 200,000+ visits per month and
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    Prerequisites/Advanced Preparation:

    Basic Knowledge of Financial Reporting

    Speaker / Author:

    Kelen Camehl is a CPA with over 14 years of progressive finance and accounting experience. Currently, he serves as a technical accounting advisor with HP. Prior to this role, he served in multiple accounting roles in the oil & gas industry with ConocoPhillips including technical accounting policy, SOX compliance, and internal audit. He also gained public accounting experience with PricewaterhouseCoopers, working with various clients in the energy, electric, power, gas, and utility sectors.

    Kelen has remained actively involved in CPA exam content development for the past seven years and has authored in excess of a thousand multiple choice questions for sections of the exam, attending workshops with the AICPA across the country each year. He serves as an Editorial Advisor for the AICPA’s "Journal of Accountancy", as well as both an author and technical reviewer for Continuing Professional Education (CPE) courses published by the AICPA, Wolters Kluwers (CCH), and PDH Academy. He also contributes to CPE course development for SmartPros.

    Software & Hardware Requirements:

    • 56k or Greater Internet Connection
    • Adobe Acrobat® Reader for the .pdf files
    • Adobe® Flash® Player 9 or higher
    • Modern DHTML Compatible Browser
    • Ram: 256 MB minimum
    • Windows or Mac OS

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    Price (USD)

    Standard Rate: $74.85

    Details

    Course Code : 99CAM01

    Release Date : 08/12/2016
    Expire Date : 06/30/2021
    Credits :
    CPE 3.00
    QAS 3.00

    Length : 2hr 30min
    Course Level : Basic
    Course Type : Self-Study
    Passing Grade : 70%
    Format Type : eLearning
    Mobile Compatible
    Field Of Study : Accounting

    Theme : Preparing Financial Statements and Analysis

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