Upon successful completion of this course, participants will be able to:
- Section 1
- Distinguish the effects of pension accounting on financial statements.
- Analyze some of the controversy surrounding variable interest entities and the corresponding effect on a company’s financial statements.
- Utilize the seven aspects of good corporate culture.
- Outline the misperception of the auditor/client relationship and the widespread perception of failure of the auditing profession.
- Section 2
- Analyze the problem with audits related to the financial crisis of 2008.
- Determine why treasury stock is sometimes eliminated from the balance sheet and how it affects information gleaned from the financial statements.
- Articulate some of the issues surrounding the change in accounting for goodwill.
- Explain why companies like IBM suggest moving toward pro forma financial statements.
- Recognize the issues surrounding fair value calculations.
- Section 3
- Analyze the effect of using the indirect method of the cash flow statement.
- Utilize the grading systems presented to determine the transparency of financial statements.