Self-Study
The Conceptual Framework – Essential Knowledge for Accounting Professionals
Price range: $58.00 through $78.00
Webcasts are available for viewing Monday – Saturday, 8am – 8pm ET.
Without FlexCast, you must start with enough time to finish. (1 Hr/Credit)
 Secure Transaction CPE Credits
2 Credits: Accounting
Course Level
Overview
Format
Self-Study
Course Description
This course offers a practical overview of the FASB’s Conceptual Framework for Financial Reporting, giving CPAs a solid grasp of the concepts that guide U.S. GAAP. It covers the purpose of financial reporting, the reporting entity, and the key qualities of useful information. The course also reviews the elements of financial statements, recognition and derecognition criteria, measurement concepts, presentation principles, and the role of notes. Designed for professionals who want lasting, big-picture understanding, this course helps strengthen accounting decisions in a changing standards environment.
Learning Objectives
Upon successful completion of this course, participants will be able to:
- Explain the primary objective of general purpose financial reporting
- Identify the key types of information financial statements convey
- Describe the criteria for defining a reporting entity
- Recognize the fundamental qualitative characteristics of useful financial information
- Explain the role of enhancing qualitative characteristics in financial reporting
- Understand how materiality and cost constraints affect the preparation and use of financial information
- Identify the key elements of financial statements and how they relate
- Explain the criteria for recognizing and derecognizing financial statement elements
- Distinguish between revenues and gains, and between expenses and losses
- Describe common measurement bases and factors influencing their selection
- Understand presentation principles, including classification and aggregation
- Recognize the role of disclosures in enhancing financial statement transparency
Course Specifics
SS125445410
September 23, 2025
There are no prerequisites.
None
51
Compliance Information
CMA Notice: Western CPE makes every attempt to maintain our CMA CPE library, to ensure a course meets your continuing education requirements please visit Insitute of Management Accountants (IMA)
CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board. CFP Professionals must take each course in it’s entirety, the CFP Board DOES NOT accept partial credits for courses.
Meet The Experts
Kelen is a recognized author and reviewer of CPE courses and has authored over 145 courses (350+ CPE credit hours) covering a range of accounting, auditing, financial reporting, regulatory, and ethics topics. Kelen remained involved in CPA exam content development for nearly 10 years and authored more than a thousand multiple choice questions for various sections of the CPA exam. He also serves as an Editorial Advisor for the AICPA’s Journal of Accountancy. Kelen has nearly 20 years of progressive finance and accounting experience. He currently serves as an Accounting Policy Advisor with HP. Prior to HP, he served in multiple …
QAS Self-Study
