Principles of Financial Statement Presentation

Course Description:

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:

Upon completion of this course, you will be able to:

    Recognize overall financial statement presentation requirements

o        Identify requirements for discontinued operations and liquidation basis of accounting reporting

o        Determine when certain balance sheet accounts can be offset

o        Identify presentation requirements for the income statement and comprehensive income

o        List the different methods used for statement of cash flow presentation

o       Differentiate between operating, financing, and investing activities in the statement of cash flows

o       Identify disclosure requirements with respect to an entity’s accounting policies

o       Recognize the requirements regarding changes in accounting principles

         Revision Date: 1/14/2022

Additional Contents : Complete, no additional material needed
Advance Preparation : None
Intended Participants : Any CPA looking to maintain or enhance their professional competence
Course Declaration : Participants must complete the final examination within one year of purchase. A minimum passing grade of 70% or better is required to receive CPE
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