This course provides an overview of the key presentation requirements with respect to an entity’s financial statements. This includes a discussion of key principles related to an entity’s overall presentation as well as specific topics with respect to its balance sheet, income statement, comprehensive income, statement of cash flows, as well as notes to the financial statements. The course also addresses the considerations around changes in accounting principles. The information related to this course is primarily sourced from the Financial Standards Accounting Board’s (FASB) Accounting Standards Codification (ASC).

Learning Objectives
  • Recognize overall financial statement presentation requirements.
  • Identify requirements for discontinued operations and liquidation basis of accounting reporting.
  • Discover and determine when certain balance sheet accounts can be offset.
  • Identify presentation requirements for the income statement and comprehensive income.
  • Identify and list the different methods used for statement of cash flow presentation.
  • Explore and differentiate between operating, financing, and investing activities in the statement of cash flows.
  • Identify disclosure requirements with respect to an entity’s accounting policies.
  • Recognize the requirements regarding changes in accounting principles.
Last updated/reviewed: August 9, 2023
153 Reviews (740 ratings)

Reviews

4
Anonymous Author
I liked being able to review this course anywhere - it being in PDF form made it easy to review anywhere I was sitting still. I plan to use it as a quick reference guide in the future. The section where it's said that the direct cash method is encouraged was confusing for me when reviewing it with the review questions. Either it's an ideal preference or it's not.

5
Anonymous Author
Good in-depth information regarding financial statements and some more difficult areas to understand, such as change in accounting principal, liquidation basis, and discontinued operations. Information is further supported by using clear examples and additional support straight from the codification and a reputable public accounting firm.

5
Anonymous Author
These topics (Disc Ops, Liquidation Basis, etc.) are not common, everyday occurrences in most companies. It is good to get this refresher, especially now that I am comfortable with the more common methods of accounting, so I have something to contextualize it against.

5
Anonymous Author
Great course - really thorough handout/write-up that is easy to read and understand. Everything in the review questions and final exam is covered in detail within the handout. Good course to review recent changes to financial statement reporting standards as well!

5
Anonymous Author
this write-up course was a lot better than what I expected. It was very well written and easy to follow. It contained a lot of good information pertaining to various financial statement topics that are relevant to today. Good read!

5
Anonymous Author
This was a detailed course on several aspects of financial statement presentation in GAAP. I found the section on the direct vs indirect method very informative as to why companies typically choose the direct method.

5
Member's Profile
Excellent content. This course really did a good job at getting to the meat and potatoes of the content. The content, context, and multiple modes of representation they provide is highly effective and enjoyable!

5
Member's Profile
This was a good recap of financial statement presentation for those of us who don't necessarily work in FS preparation but need to understand the ins and outs and guidance behind different company operations.

5
Anonymous Author
This was a great course that went over presentation and disclosures for unique events like liquidation and changes in accounting principles. The material in the PDF was extremely helpful for the final exam.

4
Member's Profile
pretty good review. Very well written - professional, clear, direct. Surprised by the written only presentation - used to the voice over, but really appreciate text content instead of random bullet points

4
Member's Profile
Overall good course. Thought it would delve a little deeper into the financial statements but a good refresher course as the presentation that go into some of the financial statements on a rule basis.

4
Member's Profile
A good overview of financial statement presentation. As a former auditor who hasn't done this kind of work in several years, it was good to brush up on some of the various disclosures required.

5
Anonymous Author
It was clear, concise and thoroughly written. This course is good for both accountants new in the field as well as a great refresher for those who have been working in the field for a while.

4
Anonymous Author
Good in-depth information regarding financial statements and some more difficult areas to understand, such as change in accounting principal, liquidation basis, and discontinued operations.

5
Anonymous Author
This was an outstanding and highly recommended text based course. Lots of great refreshers regarding financial statement presentation and items that we may not present frequently.

5
Anonymous Author
This is a material I will save and consult going forward. It lays out nicely the important aspects to financial statement presentation acccording to the regulatory framework.

5
Anonymous Author
Course is a great foundational overview of financial statement presentation. This is a great course for people who need a good foundation for their first few FS preparation.

4
Anonymous Author
For this particular content, I preferred written text since it will be a great resource to refer back to over time. I liked the illustrative examples and articles included.

5
Anonymous Author
This course was very helpful in reviewing some of the most important aspects of financial statement presentation. I appreciated the layout and it did not feel hard to read.

5
Anonymous Author
This is a very good course for CPA, auditor and anyone who are interested in finance and accounting sector. The supporting material are very detailed and comprehensive.

5
Member's Profile
really enjoyed the text nature of this course, no listening to slides, just dive into the text, really sink your teeth in the materials and LEARN. Great course Kelen!!!

5
Anonymous Author
This is a written CPE course. Provides in depth review of financial statement presentation and disclosure. There are also plenty of helpful examples and descriptions.

4
Member's Profile
The course covers a significant amount of material that is often uncommon such as disposal of divisions and going concern treatments. It's well done and interesting.

5
Anonymous Author
In order for a reporting entity to implement a change in accounting principle to an allowable alternative, the entity is first required to do which of the following

4
Anonymous Author
A significant amount of material is covered in the course and is a great refresher on FS presentation, especially uncommon topics. The examples were informative.

5
Anonymous Author
Covers everything from income statement, balance sheet, and statement of cash flows. Also discusses notes to the financial statements as well as other topics.

4
Member's Profile
THis course is a challenging and relevant course - principles that can be applied to everyday work. difficult to self study but nice to reference materials.

5
Member's Profile
Great examples to illustrate important concepts. Financial statement disclosures from Form 10-K illustrated how various required disclosures are reported.

5
Anonymous Author
The material and questions in handout were clear and excellent to understand the course. A great refresher on GAAP presentation of financial statements.

5
Anonymous Author
Easy to follow along and applicable. Anyone needing auditing and attesting CPE should take this course. It is easy to understand, and I'm glad I took it.

5
Anonymous Author
Great Course! A good overview of the financial statement presentation. Great examples of various disclosures required under different circumstances.

4
Anonymous Author
Overall a great course. I am usually not a fan of text-based courses, but this was well-written and easy to follow. Overall would recommend this course.

5
Anonymous Author
This provides a great resource for some of those topics that we don't deal with day-to-day. I appreciate the examples that are provided in this class.

4
Anonymous Author
This provided me with an overview of the key items that need to be included on a financial statement and what to do when there are accounting changes.

5
Anonymous Author
Great course!

5
Anonymous Author
Brings up new items in the financial statement presentation that we haven't considered before. This will help ensure fewer questions at audit time.

5
Member's Profile
This information was helpful as a refresher on the presentation of financial statements. These are important concepts that are needed in my career.

5
Anonymous Author
Very informative and useful information. This was my first text course and all the information needed was provided fairly in the text document.

5
Anonymous Author
Very thorough discussion on the topic. It would be helpful for those who prefer to read or search through text as opposed to watching videos.

5
Member's Profile
Great course; very thorough. Really challenged me to jog my memory on discontinued operations and the related financial statement impacts.

5
Anonymous Author
This was a good overall course. The self study feature was convenient and allowed you to focus on areas that one is not familiar with.

4
Anonymous Author
Excellent course - broad in scope, detailed, up to date, and makes the reader focus on the content to better understand the content.

4
Member's Profile
Good material. Covers the main topics related to presentation. I would suggest using slides/video as opposed to only a PDF material

5
Anonymous Author
The text was actually easy to consume yet very insightful and well laid out. It was very helpful in completing the exam at the end.

4
Member's Profile
I'll be drafting financials in the coming weeks, a refresh on these concepts is always helpful in advance of drafting each year.

4
Anonymous Author
A lot of information is presented in an understandable format. The inclusion of review questions in the material is appreciated.

4
Anonymous Author
Important information for those responsible in compiling financials and the various compliance when it comes to presentation.

5
Anonymous Author
Good course. It took a long time because I had to read everything and I had to do it over several days, but worth the study.

4
Member's Profile
Well written I prefer text based instruction as it provides a good reference for future use.

4
Anonymous Author
This has a lot of useful information; however it did not include a lot of the basics so it might not be good for a beginner.

5
Anonymous Author
The material was easy to follow and well organized. It also provided sufficient background to understand the concepts.

4
Anonymous Author
Highly recommended. The PDF material is very informative and love the fact that you can use as a reference afterwards

5
Anonymous Author
Amazing course. Great material for refreshing your knowledge. I have enjoyed this course and would highly recommend.

5
Anonymous Author
Great topic and I liked that it was text based. I liked the various topics this course discussed as well - thank you!

5
Anonymous Author
Very informative course. Material was organized well and the examples were helpful in understanding the information.

5
Member's Profile
very well-done course. i feel like it was not too easy and also was not too difficult. good variation for what it is.

5
Anonymous Author
This course dives in to more specifics about things we all practice daily and is helpful for clarification purposes.

5
Anonymous Author
Extremely well presented and supported, I got more out of this text-based course than out of most video-based ones.

5
Member's Profile
I consider that the material and question included in handout is very clear and excellent to understand the course.

5
Anonymous Author
While video courses are simpler, it is refreshing to find a course with comprehensive written learning materials.

4
Anonymous Author
Not what was expected when registered for class different then the title and assumed other topics would be covered.

5
Anonymous Author
Good refresher on all these various topics! Lots of good information related to disclosures and relevant topics.

5
Anonymous Author
Great content, great to refresh the knowledge and understand the principles of financial statement presentation.

5
Anonymous Author
The course provided a good basic level understanding of important financial statement presentation requirements.

5
Anonymous Author
Great course with a great inclusive writeup. Very helpful to use for reference as it covers a lot of material.

4
Member's Profile
Was nice being able to reference the presentation. Something I will keep on my local drive for future reference

5
Anonymous Author
Comprehensive, well written course on financial statements, touching on most of the unique circumstances.

5
Anonymous Author
I really enjoyed this course, text-based courses are so helpful for me and enjoyed learning at my own pace.

4
Member's Profile
An insightful recap of presentation of financial statements, with updated codification was quite helpful.

5
Anonymous Author
I really enjoyed taking this course, thanks for putting it together. material was engaging and informative

4
Anonymous Author
It was well written and contained a significant amount of information. The author is obviously articulate.

5
Member's Profile
This course was wonderfully written and I learned a lot. I cannot wait to take more courses like this one.

5
Member's Profile
This was a good high level review and I highly recommend. Straight forward and it was easy to understand.

5
Anonymous Author
This course was very helpful and provided a good refresher. I highly recommend this course to other CPAs!

5
Anonymous Author
Good overall review of the basics with useful references throughout. Will save the pdf for future use.

5
Member's Profile
Packed full of information although probably not real exciting, unless you are a hard-core accountant.

5
Anonymous Author
Excellent course so we can stay updated and have in hand for future references and put into practice.

5
Anonymous Author
I really liked how the text included thoughtful examples that improved my understanding of the text.

5
Member's Profile
Concise and easy to follow course on updates to financial statement presentation, very appreciated!

5
Anonymous Author
Very interesting course. Some of these topics are ones that I haven't touched on in quite a while.

4
Anonymous Author
The course well extracts the important parts for financial statements for accountants and auditors.

5
Anonymous Author
Very good course, I enjoyed it and it is a nice way to remember all the good stuff that we learned

5
Anonymous Author
The course provided the necessary information to understand the concepts described in the summary.

5
Anonymous Author
The course was easy to follow. It covered a great deal of material, and was a great refresher.

5
Member's Profile
Informative and easy to follow. I like that I can save off the information for future reference.

4
Member's Profile
self-guide was concise and educational - I enjoyed having the ability to self-pace the course

5
Anonymous Author
Very clear and straightforward, review questions were a good preparation for the actual exam.

5
Member's Profile
The text was clear and definitive and the examples helped to solidify the knowledge I gained

4
Member's Profile
lots of good examples of the subjects explained in the text. Good coverage of the topics.

5
Anonymous Author
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5
Anonymous Author
Great refresher and will plan to take again. Learning plan was well developed and helpful.

5
Anonymous Author
Nice course, appreciate being able to follow along with the well-organized PDF materials.

5
Member's Profile
Very well explained! The handout was helpful and had good illustrations of the concepts.

5
Anonymous Author
It is refreshing to review financial statement disclosures and discontinued operations.

4
Anonymous Author
This is a course about the basics of finance statement presentation, just as described.

5
Member's Profile
Very thorough and condensed text content. I appreciated the format and digestability.

5
Anonymous Author
Materials are well laid out and logical. Highlights key components of these standards

4
Anonymous Author
I thoroughly enjoyed this course and would recommend it to any business professional.

5
Member's Profile
Good reminder of different scenarios that can impact financial statement presentation

5
Member's Profile
Detailed and specific. Good refresher for GAAP presentation of financial statements.

5
Member's Profile
Excellent course. So much detail and is good reference material to have available.

5
Anonymous Author
Text was broken up into clear sections. Good refersher for technical presentation.

5
Member's Profile
Detailed content. Content provided adequate examples on F/S statement presentation.

5
Anonymous Author
Great overview of accounting principles related to presentation - great reminders.

4
Member's Profile
Lots of information, a bit dry course but you get 4 credits for it which is a plus

5
Member's Profile
Very good overview and great references in PDF. Always good to review the basics.

5
Anonymous Author
Pretty good review of information, just keep in mind all the material is printed.

4
Anonymous Author
Good, focused guidance on certain topics. Some I knew and other things were new.

5
Member's Profile
Informative and concise. Helped with material for current and future disclosure.

5
Member's Profile
Great course, very informative and an awesome refresher on these basic principles

5
Anonymous Author
A good overview of financial statement presentation and the appropriate guidance.

5
Anonymous Author
Highly recommend this course. The reference materials are helpful and practical.

4
Anonymous Author
instructor did a good of clarifying some financial statement presentation topics

5
Anonymous Author
This was a useful update on financial statement presentation, good information.

5
Member's Profile
Very comprehensive and well-organized guide. Excellent future reference guide.

5
Member's Profile
I really liked this course. Material was clearly presented and laid out well.

5
Anonymous Author
The information was presented in a clear format that was easy to read through.

5
Member's Profile
great detail provided in the presentation. overall a very informative lesson.

3
Anonymous Author
Thanks for Principles of Financial Statement Presentation (Text Based Course)

5
Anonymous Author
I would recommend this course to any CPA who is working on their CPE credits.

5
Anonymous Author
Excellent course for more indepth discussion on financial statement topics.

5
Anonymous Author
Great course, clear and concise, would recommend others to take this course

5
Anonymous Author
This was a helpful review of financial statement presentation - thank you

5
Anonymous Author
I enjoyed learning about the actual principles of Statement presentation.

5
Anonymous Author
Really great, comprehensive course. Especially for a pretty dense topic.

4
Member's Profile
Needs to be updated slightly and add a section on order of presentation.

5
Member's Profile
Lost of information. It is a great summary of a very critical aspects.

5
Anonymous Author
Good refresher course on financial statements presentation principles.

5
Member's Profile
Kelen’s course on Financial Statement Presentation was well prepared

5
Member's Profile
Great course with comprehensive supporting text and good practice exam

5
Anonymous Author
Tied to educational objectives, connected to real-life situations

5
Anonymous Author
Clear and complete course. Examples were helpful and easy to follow.

5
Anonymous Author
Thorough discussion of topics with appropriate amount of time given.

5
Member's Profile
Fairly technical and challenging, but a great review of these items.

5
Anonymous Author
very informative and challenging. It was certainly a good experience

5
Member's Profile
The material was very well written and extremely detailed oriented.

2
Member's Profile
boring, dry, not helpful, just something i'd never want to do again

5
Anonymous Author
Material is informative and the principles are clearly presented.

5
Member's Profile
Good refresher on cash flows and change in accounting principles

5
Anonymous Author
Great course for CPE coming from a real CPA. I like the format.

5
Anonymous Author
Good material, though I prefer the guided / video CPE courses.

4
Anonymous Author
A well written, detailed course providing excellent examples!

5
Anonymous Author
Great course. Attached pdf was great and easy to understand.

5
Anonymous Author
There was a lot of useful and new information which I liked.

4
Anonymous Author
The course provides extensive detail on the subject matter.

5
Member's Profile
The text is very organized and easy to follow. Very helpful

5
Anonymous Author
Subject matter was long and tedious, but that was expected

5
Anonymous Author
Love text-based courses. Very well-written and organized.

4
Member's Profile
All concepts are explained in detail and understandable.

5
Anonymous Author
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5
Anonymous Author
I enjoyed the course, and I found it very informative.

5
Anonymous Author
This course was very informative and a great refresher!

5
Anonymous Author
Great refresher and update of ASU and PCAOB principles.

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 .
Instructor for this course
Course Syllabus
SUPPORTING MATERIAL
  Principles of Financial Statement Presentation (Text Based Course)PDF
REVIEW AND TEST
  REVIEW QUESTIONSquiz
 FINAL EXAMexam