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

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Course Details

Pages: 35
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 events and 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: Overview

Prerequisite: General understanding of GAAP

Advanced Preparation: None
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