Financial Statement Disclosures: A Guide for Small and Medium-Sized Businesses WEBCAST - Partnered with the Oregon Society
Overview
A clear and concise set of proper financial statement disclosures can make or break an entity's financial statements. Such disclosures are no longer simply additional information provided by a business; they can be complex in nature and difficult to both prepare and understand, especially for small and medium-sized businesses. Oftentimes financial statement users will first turn to the notes in the financial statements in order to get a feel for where the business and its numbers might be heading, so these disclosures need to be well-written and follow applicable standards.
This course will focus on key balance sheet and income statement disclosure as well as accounting standards related to the two largest standard updates in years, revenue (ASC 606) and leases (ASC 842), accounting policies, changes in accounting estimates and errors, subsequent events, going concern, and related party disclosures. The course will use illustrations, examples based on private company financial statements disclosures, and real-world excerpts from financial statements to provide you with a hands-on feel for the disclosure requirements across a number of accounting standards.
Highlights
Financial statement disclosures for small and medium-sized businesses. Balance sheet, income statement, and statement of cash flows presentation and disclosure issues. Disclosure examples from all-sized entities that you can use to base your disclosures on. Developing disclosure issues, including disclosures related to the adoption of ASC 606 and ASC 842.
Prerequisites
None.
Designed For
CPAs and other accounting professionals in public practice and business and industry involved in preparing financial statement disclosures for small and medium-sized businesses.
Objectives
Understand and apply the professional requirements and guidance for preparing financial statement disclosures for all entities, including small and medium-sized businesses. Identify balance sheet, income statement, and statement of cash flows presentation issues. Review disclosure examples from all sized entities, including small and medium-sized businesses. Be familiar with developing disclosure issues, such as those related to the adoption of new accounting pronouncements. Utilize hands-on examples and illustrations to increase your overall understanding and application of the material.
Preparation
None.
Leader(s):
Leader Bios
Thomas Sheets, Thomas M Sheets CPA
Tom Sheets is a Certified Public Accountant with over 27 years experience in auditing and tax return preparation for businesses and individuals. He provides business valuations, consulting, auditing and tax services for a wide variety of individual clients and industries including banks, construction contractors, nursing homes, and non-profit organizations. Mr. Sheets was with a large, local CPA firm in Enid, Oklahoma for 15 years before establishing his own consulting, tax and accounting practice nine years ago. Mr. Sheets has written seminars on bank auditing, audits of construction contractors and information systems control and auditing. He has lead seminars on various accounting, auditing and tax topics including real estate accounting, fraud examinations, bank auditing, tax issues for nonprofit organizations, and nonprofit accounting and auditing. “Tom Sheets is very informative on his material that he presents. I would take another class with him in the future.” - C. Culbert, attended Real Estate Accounting and Auditing.
Non-Member Price $250.00
Member Price $195.00