Full Disclosure in Financial ReportingCode: 18-FULLDIS
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The full disclosure principle, one of major accounting principles, requires that information provided in financial statements be sufficiently complete to avoid misleading users of the reports by omitting significant facts of information. The full disclosure principle also refers to revealing information that would be useful in the decision‐making processes of informed users. Full disclosure is required for the fair presentation of financial statements. This course discusses the disclosures required of companies, including those related to accounting policies, segmental information, related parties, contingencies, long‐term purchase contract obligations, inflation, and derivatives. Sample annual reports addressing this requirement are illustrated.
Presentation Method: QAS Self-Study
CPE credit: 2.5 Hours
Program Level: Update
Advance Preparation: None
Exam expiration date: Participants must submit exams for grading within one year from the date of purchase
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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 addressed to: National Registry of CPE Sponsors, 150 Fourth Ave. North, Nashville, TN 37219-2417. Web site: www.nasbaregistry.org
NASBA QAS Sponsor number 108096