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GAAP Guide - The Balance Sheet  

CATEGORY: Accounting & Auditing
COURSE ID: CLGPBS, VERSION 4.01
(206)
Online & Mobile, Download
12 CPE Credits
Level: Basic

This course begins by giving users a refresher course in the basics of financial accounting and reporting. Along with a review of accounting principles, chapter one outlines the purposes and formats of the major financial statements: the balance sheet, income statement, and statement of cash flows. Additionally, this chapter reviews the FASB Accounting Standards Codification (ASC) and some of the Statements of Financial Accounting Concepts. The program proceeds to go down and through the balance sheet and devote separate chapters to each of the major balance sheet account classifications. For example, on the asset side, inventory is covered in chapter three, and, on the liabilities side, bonds are extensively discussed in chapter six. Separate chapters have been reserved for each of two complex topics: leases and pension plans. In all the chapters, the user will find very helpful exhibits and sample problems, with detailed answers, to assist her/him in understanding the material.

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