Accounting for the Unexpected - A Guide to Subsequent EventsCode: 27-ACCUNEXPECTED

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Course Details

Pages: 37
Course Overview
This course provides CPAs with a practical and focused examination of subsequent events under U.S. GAAP. It explains the distinction between recognized subsequent eventsand nonrecognized subsequent events, outlines the financial reporting and disclosure requirements, and covers the key considerations for evaluating the impact of post-balance-sheet developments. The course also addresses management responsibilities, audit implications, and examples of common subsequent events.

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

• Identify the key characteristics and timing of subsequent events under ASC 855

• Differentiate between recognized and nonrecognized subsequent events

• Determine when financial statement adjustments are required versus disclosure

• Recognize common examples of subsequent events and their typical accounting treatment

• Recognize audit procedures and documentation requirements related to subsequent events


Category: Accounting

Recommended CPE Hours: 2

Level of knowledge: Update

Prerequisite: Basic understanding of Accounting

Advanced Preparation: None
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American CPE, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org

 

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