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Financial statement disclosures are important to provide the information necessary for financial statement users to make economic decisions. Disclosures further explain and clarify information provided in the basic financial statements, but also provide critical information about subsequent events, litigation risk, and other concerns.

This course focuses on the most common financial statement disclosures for small- or medium-sized nonpublic entities under U.S. GAAP from general disclosures to specific disclosures for common categories of assets, liabilities, equity transactions, revenues and expenses.

 

Learning Objectives

  • Identify common financial statement disclosures for small- and medium-sized nonpublic business entities, such as specific common assets, liabilities, and equity transactions.
  • Explore critical information useful to financial statement readers for making economic decisions, such as information about fair value measurement, commitments, contingencies, related parties, and going concern uncertainty.
  • Explore results of operations through information that supplements the face financial statements, such as details about revenue recognition and income taxes.
Last updated/reviewed: April 5, 2020

3 Reviews (22 ratings)Reviews

4
Anonymous Author
A lot of great info packed into this course. This course provides a high-level look at the various disclosures that need to be considered.
5
Anonymous Author
I really like Jennifer's class that has detail contents in her presentation. The material is very helpful.
5
Anonymous Author
Good information, well-presented. Excellent presentation, will recommend to others.

Prerequisites

Course Complexity: Intermediate

No advanced preparation or prerequisites are required for this course.

Education Provider Information

Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact:
For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Course Syllabus
INTRODUCTION AND REVIEW
  1:52 Introduction to Common Financial Statement Disclosures
  4:04General Disclosures
  9:31Assets - Except Investments
  5:15Investments
  6:32Fair Value Measurements
  5:21Liabilities
  3:34Leases
  7:22Income Statement
  5:18Income Taxes and Equity Transactions
  3:35Other Common Disclosures
CONTINUOUS PLAY
  51:52Common Financial Statement Disclosures
SUPPORTING MATERIAL
  PDFSlides: Common Financial Statement Disclosures
  PDFCommon Financial Statement Disclosures Glossary/ Index
REVIEW AND TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM