2 Credits: Accounting
The balance sheet reveals the financial position of a business, and so should be properly prepared in order to maximize the amount of information conveyed to users. This course assists the accountant by noting the various presentation formats that can be used, as well as the content and description of each line item within the statement. It also discusses sample balance sheets from several publicly-held companies, in order to show the range of presentation possibilities.
Upon successful completion of this course, participants will be able to:
- Identify which assets are usually classified as current or long-term on the balance sheet.
- Note which liabilities are usually classified a current or long-term on the balance sheet.
- Recognize the steps required to manually construct a balance sheet.
- Note the types of assets that can be classified into each of the major asset categories.
- Recognize the different types of liabilities that may appear on the balance sheet.
- Cite the decision points related to how a loan should be classified if the lender can call the loan.
- Describe the proper presentation of each equity line item on the balance sheet.
- Describe the structure of the statement of retained earnings.
- Note the instances in which different balance sheet ratios may apply to a business.
May 22, 2023
There are no prerequisites.
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
Steven M. Bragg, CPA, is a full-time book and course author who has written more than 250 business books and courses. He provides Western CPE with self-study courses in the areas of accounting and finance, with an emphasis on the practical application of accounting standards and management techniques. A sampling of his courses include the The New Controller Guidebook, The GAAP Guidebook, Accountants’ Guidebook, and Closing the Books: An Accountant’s Guide. He also manages the Accounting Best Practices podcast. Steven has been the CFO or controller of both public and private companies and has been a consulting manager with Ernst & Young and …