A clear and concise set of proper financial statement disclosures can make or break an entity's financial statements. Such disclosures are no longer simply additional information provided by a business; they can be complex in nature and difficult to both prepare and understand, especially for small and medium-sized businesses. Often, financial statement users will first turn to the notes in the financial statements in order to get a feel for where the business and its numbers might be heading, so these disclosures need to be well-written and follow applicable standards.
This course will focus on key balance sheet and income statement disclosures, recently issued FASB Accounting Standards Updates (ASUs) affecting financial statement disclosure (including income taxes, segment, expense disaggregation, and interim reporting), accounting policies, changes in accounting estimates and errors, subsequent events, going concern, and related party disclosures. The course addresses ongoing disclosure considerations under ASC 606 (revenue) and ASC 740 (income taxes).
The course will use illustrations, examples based on private company financial statement disclosures, and real-world excerpts from public company financial statements to provide you with a hands-on feel for the disclosure requirements across a number of accounting standards for private and public business entities.
CPAs and other accounting professionals in public practice and business and industry involved in preparing financial statement disclosures for small and medium-sized businesses