Disclosures of Risks & Uncertainties

Overview

This course provides an overview of the disclosure requirements regarding risks and uncertainties.  The disclosure requirements related to risks and uncertainties are prescribed by the Financial Accounting Standards Board (FASB) in ASC Topic 275.  For public business entities that file their annual and interim reports with the U.S. Securities & Exchange Commission (SEC), there are also additional disclosure requirements required by Regulation S-K.  This course focuses on general disclosure requirements outlined in U.S. GAAP.  This course also provides illustrative examples from both the GAAP implementation guidance as well as actual SEC filings from public business entities. 

Learning Objectives

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

·       Identify the scope of transactions included within ASC Topic 275

·       Recognize when disclosure is required related to accounting estimates

·       Differentiate between concentration areas and whether or not disclosure is required

        Revision Date: 12/20/23

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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