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: March 6, 2024
12 Reviews (63 ratings)

Reviews

4
Member's Profile
I did not do well on the exam and it took multiple attempts to pass it. Many topics were not relevant to our practice. She was very thorough however. Just not a very exciting topic.
5
Anonymous Author
Great review course on disclosures. I liked that it was broken out by different categories (cash, liabilities, contingencies, etc) and also discussed public vs nonpublic requirements.
2
Member's Profile
A lot of information covered too quickly. The slides and the instructor's commentary were often ambiguous, making it difficult to answer the final exam questions.
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.
3
Anonymous Author
Good course, but too much content for the time allotted. The answers for the quiz questions were not easily found in the materials.
3
Anonymous Author
The amount of time alloted for this course is very short considering that almost all accounts are discussed.
5
Anonymous Author
I really like Jennifer's class that has detail contents in her presentation. The material is very helpful.
5
Member's Profile
The class was easy to follow and had an excellent overview for a very comprehensive subject.
5
Anonymous Author
Good information, well-presented. Excellent presentation, will recommend to others.
3
Anonymous Author
The course was more or less reading the slides and was hard to engage with.
4
Anonymous Author
Good overview of Financial Statement Disclosures and was easy to follow.
3
Member's Profile
Very cumbersome. A lot of useful information, but not well presented.
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Prerequisites
Knowledge Level: 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 .
Instructor for this course
  Course Overview CPE
Course Syllabus
INTRODUCTION AND REVIEW
  Introduction to Common Financial Statement Disclosures1:52
  General Disclosures4:04
  Assets - Except Investments9:31
  Investments5:15
  Fair Value Measurements6:32
  Liabilities5:21
  Leases3:34
  Income Statement7:22
  Income Taxes and Equity Transactions5:18
  Other Common Disclosures3:35
CONTINUOUS PLAY
  Common Financial Statement Disclosures51:52
SUPPORTING MATERIAL
  Slides: Common Financial Statement DisclosuresPDF
  Common Financial Statement Disclosures Glossary/ IndexPDF
REVIEW AND TEST
  REVIEW QUESTIONSquiz
 FINAL EXAMexam