Full Disclosure in Financial Reporting FLEXCAST

Overview

This detailed course is designed to navigate the complexities of the full disclosure principle in accounting, a key aspect for finance professionals committed to transparency and accuracy in financial reporting. Participants will gain an in-depth understanding of the full disclosure principle, learning to identify the types of information that should be disclosed under this principle, including significant accounting policies and their common disclosures such as revenue recognition and hedges. The course covers a wide range of disclosure requirements, from subsequent events and major business segments to related party transactions, risks and uncertainties, and interim financial reporting. Through real-world examples, participants will see these principles in action, enhancing their ability to apply them in their professional practice. This course equips participants with the knowledge and skills necessary to ensure that financial statements are complete and not misleading, thereby fostering trust and informed decision-making among users of financial reports.

Highlights

Full disclosure principle. Accounting policies. Subsequent events. Common disclosures. Summary of significant accounting policies. Unconditional purchase contract obligations. Segmental reporting. Related parties. Risks and uncertainties. Accounting changes and error corrections. Interim financial reporting.

Prerequisites

None.

Designed For

CPAs, CFOs, controllers, financial professionals, and auditors.

Objectives

Recognize the full disclosure principle and its implementation. Identify information disclosed in the summary of significant accounting policies. Recognize common disclosures relating to accounting policies. Identify disclosure requirements for subsequent event, major business segments, related party transactions, risks and uncertainties, and interim financial reporting.

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.