Disclosures of Risks and Uncertainties 1 Credit
Learning mode
The objective of Accounting Standards Codification (ASC) 275 is to provide guidelines that will enable the preparer to screen the many risks and uncertainties faced by entities and focus on those most useful to the readers of the particular entity's report.
ASC 275-10-50, Risks and Uncertainties, requires disclosure in financial statements about risks and uncertainties existing as of the date of those statements that could significantly affect the amounts reported in the near term. Financial statements must include an explanation that the preparation of financial statements in accordance with generally accepted accounting principles (GAAP) requires the use of estimates by management. The purpose of this disclosure is to alert users to the pervasiveness of estimates.
This online CPE webinar 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 Accounting CPE 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.
This Online Continuing Education webinar includes following key topics:
| License details | Credits | Status |
|---|---|---|
| Accounting for Certified Public Accountants (CPA-US) | 1 CPE | Approved |
| Financial Accounting for Certified Internal Auditors (CIA) | 1 CPE | Eligible |
| Financial Reporting for Certified Management Accountants (CMA) | 1 CPE | Eligible |
| Accounting for Chartered Financial Analyst (CFA) | 1 PL | Eligible |
| Accounting for Certified Government Financial Manager (CGFM) | 1 CPE | Eligible |
| Accounting for Certified Fraud Examiner (CFE) | 1 CPE | Eligible |
| Accounting for Internal Audit Practitioner (IAP) | 1 CPE | Eligible |
| Financial Reporting for Certified Financial Forensics (CFF) | 1 CPD | Eligible |
| Financial accounting for Certified Valuation Analyst (CVA) | 1 CPE | Eligible |
| Accounting for Qualification in Internal Audit Leadership (QIAL) | 1 CPE | Eligible |
| Financial accounting for Certified Business Appraiser (CBA)/Master Certified Business Appraiser (MCBA) | 1 CPE | Eligible |
| Accounting for CIPM | 1 PL | Eligible |
| Financial accounting concepts for Certified FP&A Professional (FP&A) | 1 CE | Eligible |
| License details | Credits | Status |
|---|---|---|
| Accounting for Certified Public Accountants (CPA-US) | 1 CPE | Approved |
| Financial Accounting for Certified Internal Auditors (CIA) | 1 CPE | Eligible |
| Financial Reporting for Certified Management Accountants (CMA) | 1 CPE | Eligible |
| Accounting for Chartered Financial Analyst (CFA) | 1 PL | Eligible |
| Accounting for Certified Government Financial Manager (CGFM) | 1 CPE | Eligible |
| Accounting for Certified Fraud Examiner (CFE) | 1 CPE | Eligible |
| Accounting for Internal Audit Practitioner (IAP) | 1 CPE | Eligible |
| Financial Reporting for Certified Financial Forensics (CFF) | 1 CPD | Eligible |
| Financial accounting for Certified Valuation Analyst (CVA) | 1 CPE | Eligible |
| Accounting for Qualification in Internal Audit Leadership (QIAL) | 1 CPE | Eligible |
| Financial accounting for Certified Business Appraiser (CBA)/Master Certified Business Appraiser (MCBA) | 1 CPE | Eligible |
| Accounting for CIPM | 1 PL | Eligible |
| Financial accounting concepts for Certified FP&A Professional (FP&A) | 1 CE | Eligible |
Credit
Course Level
Instructional Method
Pre-requisites
Advance Preparation
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Kelen is a recognized author and reviewer of CPE courses and has authored over 150 courses (370+ CPE credit hours) covering a range of accounting, auditing, financial reporting, regulatory, and ethics topics. His courses are available for purchase from many online CPE providers including the AICPA. Kelen remained involved in CPA exam content development for nearly 10 years and authored more than a thousand multiple choice questions for various sections of the CPA exam. He also serves as an Editorial Advisor for the AICPA’s "Journal of Accountancy".
Kelen has nearly 20 years of progressive finance and accounting experience. He currently serves as a Principal in Accounting Policy with HP in Doha, Qatar. Prior to HP, he served in multiple accounting roles in the oil & gas industry with ConocoPhillips including technical accounting policy, SOX compliance, and internal audit. He also gained public accounting experience with PricewaterhouseCoopers, working with various clients in the energy, electric, power, gas, and utility sectors.
Kelen is a recognized author and reviewer of CPE courses and has authored over 150 courses (370+ CPE credit hours) covering a range of accounting, auditing, financial reporting, regulatory, and ethics topics. His courses are available for purchase from many online CPE providers including the AICPA. Kelen remained involved in CPA exam content development for nearly 10 years and authored more than a thousand multiple choice questions for various sections of the CPA exam. He also serves as an Editorial Advisor for the AICPA’s "Journal of Accountancy".
Kelen has nearly 20 years of progressive finance and accounting experience. He currently serves as a Principal in Accounting Policy with HP in Doha, Qatar. Prior to HP, he served in multiple accounting roles in the oil & gas industry with ConocoPhillips including technical accounting policy, SOX compliance, and internal audit. He also gained public accounting experience with PricewaterhouseCoopers, working with various clients in the energy, electric, power, gas, and utility sectors.
Self Study QAS (Quality Assurance Service) is a NASBA and other regulatory bodies approved program designed for Professionals to complete their Continuing Professional Education credits through self-paced, interactive courses that meet the highest standards of quality and compliance. We are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.
To earn CPE credits, you must complete the self-study course, pass the required assessments, and submit the necessary documentation. Credits are awarded based on the completion of course hours and successfully passing the assessments.
Yes, all our self-study courses are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the rigorous standards for quality and educational content set by these organizations.
To maintain compliance, you must follow the guidelines set by NASBA and other regulatory bodies, which include completing the course within the specified timeframe, passing the assessments, and keeping accurate records of your learning activities.
After successfully completing a self-study course and passing the assessments, you can access and download your course completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.
We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.
JM
Good and nicely summarized overview of this area. Was enjoyable and it took about an hour to complete.
JW
Excellent recap
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