- NY Credits : 5.0
- TX Credits : 5.0
This course provides the learner with useful and informative guidance for navigating through complex authoritative pronouncements in order to present a variety of transactions affecting the balance sheet. Presented in question and answer format, the information provides examples and illustrations to different scenarios which may arise in a normal or unusual set of circumstances of an entity. From assets to liabilities to stockholders' equity, the preparer of the balance sheet will benefit from the guidance and recommendations offered in interpreting the FASB Accounting Standards Codification and related FASB nonauthoritative pronouncements. This basic level course is most beneficial to professionals new to balance sheet and GAAP reporting who may be at the staff or entry level in organization but also for a seasoned professional with limited exposure to this topic.
Upon successful completion of this course, the user should be able to:
identify the proper presentation of individual and comparative financial statements,
recall GAAP as it relates to property and equipment,
determine the most appropriate way to report cash and investments, and
recognize GAAP in terms of reporting receivables, inventories, the cash value of life insurance and intangible assets.