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Principles of Financial Statement Presentations

Icon_Self-Study
QAS Self-Study
Icon_Level
Overview
Credits
CPE Credits
3 Credits: Accounting

Course Description

When presenting financial statements, there are many key requirements to consider. This course 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 for the financial statements. Other topics covered include the considerations around changes in accounting principles. The information related to this course is primarily sourced from the Financial Accounting Standards Board’s (FASB) Accounting Standards Codification (ASC).

Learning Objectives

Upon successful completion of this course, participants will be able to:

Chapter 1

  • Select requirements for disposal transactions to meet held for sale criteria
  • Recognize overall financial statement presentation requirements
  • Cite requirements for discontinued operations and liquidation basis of accounting reporting
  • Identify the different methods used for statement of cash flow presentation

Chapter 2

  • Recognize when certain balance sheet accounts can be offset
  • Identify disclosure requirements with respect to an entity’s accounting policies
  • Recall the disclosures required in the event of substantial doubt of an entity’s ability to continue as a going concern

Chapter 3

  • Identify presentation requirements for the income statement and comprehensive income
  • Recall when various types of insurance provide reimbursement

Chapter 4

  • Recognize the differences between operating, financing, and investing activities in the statement of cash flows
  • Cite preferred methods of presentation of an entity’s statement of cash flows

Chapter 5

  • Recognize the requirements regarding changes in accounting principles

Course Specifics

Course ID
1163445
Revision Date
August 26, 2020
Prerequisites

There are no prerequisites.

Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220

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)

Course Instructor

Kelen Camehl Headshot
Kelen Camehl, CPA, MBA

Kelen is a recognized author and reviewer of CPE courses and has authored over 85 courses (225+ CPE credit hours) covering a range of accounting, auditing, financial reporting, regulatory, and ethics topics.  His courses are available for purchase from many online CPE providers including the AICPA.  Kelen has also remained involved in CPA exam content development for nearly 10 years and has 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 over 15 years of progressive finance and accounting …

Kelen Camehl, CPA, MBA Read More »

Principles of Financial Statement Presentations

Expert Instructors
CPE CREDITS
3 Credits: Accounting

$87.00$107.00

Clear
Icon_Self-Study
QAS Self-Study
Icon_Level
Overview
Credits
CPE Credits
3 Credits: Accounting

Course Description

When presenting financial statements, there are many key requirements to consider. This course 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 for the financial statements. Other topics covered include the considerations around changes in accounting principles. The information related to this course is primarily sourced from the Financial Accounting Standards Board’s (FASB) Accounting Standards Codification (ASC).

Learning Objectives

Upon successful completion of this course, participants will be able to:

Chapter 1

  • Select requirements for disposal transactions to meet held for sale criteria
  • Recognize overall financial statement presentation requirements
  • Cite requirements for discontinued operations and liquidation basis of accounting reporting
  • Identify the different methods used for statement of cash flow presentation

Chapter 2

  • Recognize when certain balance sheet accounts can be offset
  • Identify disclosure requirements with respect to an entity’s accounting policies
  • Recall the disclosures required in the event of substantial doubt of an entity’s ability to continue as a going concern

Chapter 3

  • Identify presentation requirements for the income statement and comprehensive income
  • Recall when various types of insurance provide reimbursement

Chapter 4

  • Recognize the differences between operating, financing, and investing activities in the statement of cash flows
  • Cite preferred methods of presentation of an entity’s statement of cash flows

Chapter 5

  • Recognize the requirements regarding changes in accounting principles

Course Specifics

Course ID
1163445
Revision Date
August 26, 2020
Prerequisites

There are no prerequisites.

Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220

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)

Course Instructor

Kelen Camehl Headshot
Kelen Camehl, CPA, MBA

Kelen is a recognized author and reviewer of CPE courses and has authored over 85 courses (225+ CPE credit hours) covering a range of accounting, auditing, financial reporting, regulatory, and ethics topics.  His courses are available for purchase from many online CPE providers including the AICPA.  Kelen has also remained involved in CPA exam content development for nearly 10 years and has 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 over 15 years of progressive finance and accounting …

Kelen Camehl, CPA, MBA Read More »

Principles of Financial Statement Presentations

Expert Instructors
CPE CREDITS
3 Credits: Accounting

$87.00$107.00

Clear