- NY Credits : 6.0
- TX Credits : 6.0
This program provides analysis and professional guidance on recently issued FASB guidance to help the practitioner identify risks and uncertainties in implementing the latest changes in accounting principles. Corporate Financial Reporting Issues begins with an overview and purpose of financial reporting and goes into an in-depth discussion concerning revenue recognition. Intangible assets, fair value reporting, inventories, property, plant, and equipment, and financial instruments with characteristics of debt and equity are other topics covered in this course. This intermediate level course is most appropriate for the professional with detailed knowledge in this topic or the professional seeking to expand his or her knowledge base and who may be at a mid-level position within an organization with operational or supervisory responsibilities, or both.
Upon successful completion of this course, the user should be able to:
recognize the fundamental elements of financial reporting;
recognize the basic guidance related to fair value measurement and disclosures;
discuss the steps for revenue recognition;
recognize the primary guidance related to accounting for inventories;
identify appropriate accounting for property, plant and equipment;
recognize the fundamental asset impairment tests under U.S. GAAP;
recognize derivative instruments; and
identify types of hedges and their accounting.