Balance Sheet: Reporting Assets FLEXCAST

Overview

Navigating the reporting of assets on a balance sheet can be a complex and nuanced task for any financial professional. The challenge lies in accurately categorizing assets as current or noncurrent, which is crucial for providing clear information about an entity’s liquidity. This course agitates the common difficulties and misconceptions in asset reporting under GAAP, offering a clear path to mastering this essential skill. The solution is presented through this comprehensive course, designed to simplify and clarify the principles of asset reporting. Participants will learn to distinguish between current and noncurrent assets, with a focus on practical application and real-life examples. From cash and accounts receivable to inventory balances and intangible assets, this course offers step-by-step guidance, ensuring that participants can confidently apply these principles in their professional roles.

Highlights

Objectives of financial reporting. Cash and cash equivalents. Trading securities. Long term investments. Property, plant, and equipment.

Prerequisites

None.

Designed For

CPAs.

Objectives

Recognize basic principles of reporting assets on the balance sheet. Identify accounting procedures for cash and accounts receivable. Recognize how to how to compute inventory balances. Identify the reporting requirements of debt securities. Recognize how to account for and report tangible assets. Identify accounting procedures for amortizing intangible assets.

Preparation

None.

Notice

This is a FlexCast (no exam required) and may be viewed only Monday - Saturday, 5am - 5pm PT. You may take up to one year from the date of purchase to complete the course. Pause your FlexCast and resume at a convenient day during the hours above. Partial credit for 2+ credit courses: If you are unable to complete the course in one sitting, partial credit can be awarded (minimum of one credit). To earn the remaining credits, you must return later and start the course from the beginning. Use chat to ask questions of a subject matter expert during the program.