Risks and Uncertainties in Financial Disclosures

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1 Credit

Subject Area

Accounting

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Course Description
Course Qualification
Presenter
FAQ

Course Description

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:
Scope of Disclosures under ASC 275
Nature of Operations
Use of Estimates
Current Vulnerabilities Due to Certain Concentrations
Interaction with other ASC Topics

Learning Objectives

To identify the scope of transactions included within ASC Topic 275
To recognize when disclosure is required related to accounting estimates
To differentiate between concentration areas and whether or not disclosure is required
To identify certain Significant Estimates
To analyze Concentration Areas and Associated Risk

Course Qualification

Webinar Qualifies For

1 CPE Credit of Accounting for Certified Public Accountants (CPA-US)
1 CPE Credit of Financial Accounting for Certified Internal Auditors (CIA)
1 CPE Credit of Financial Reporting for Certified Management Accountants (CMA)
1 PL Credit of Accounting for Chartered Financial Analyst (CFA)
1 CPE Credit of Accounting for Certified Government Financial Manager (CGFM)
1 CPE Credit of Accounting for Internal Audit Practitioner (IAP)
1 CPE Credit of Accounting for Qualification in Internal Audit Leadership (QIAL)
1 CPE Credit of Accounting for Certified Fraud Examiner (CFE)
1 CPE Credit of Financial accounting for Certified Valuation Analyst (CVA)
1 CPE Credit of Financial accounting for Certified Business Appraiser (CBA)/Master Certified Business Appraiser (MCBA)
1 CPD Credit of Financial Reporting for Certified Financial Forensics (CFF)
1 PL Credit of Accounting for CIPM
1 CE Credit of Financial accounting concepts for Certified FP&A Professional (FP&A)

Additional details

Course Level :

Basic
Credits :

1
Pre-requisites :

None
Advance Preparation :

None

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) 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.

Presenter

About Presenter

Kelen Camehl, CPA (US), MBA

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.

About Company

HP

www.hp.com/in-en/home.html

Our vision is to create a world where innovation drives extraordinary contributions to humanity. This vision guides everything we do, how we do it, and why we do it.
Our technology – a product and service portfolio of personal systems, printers, and 3D printing solutions – was created to inspire our vision and we are doing everything in our power across climate action, human rights, and digital equity to make it so.
We believe thoughtful ideas can come from anyone, anywhere, at any time. And all it takes is one to change the world.

Faq

FAQs content

To receive Continuing Education credit for the event, you must register for the webcast prior to the start of each program.
Continuing Education Credit Certificate is available to all eligible participants within 24 hours of each webinar.
You must attend complete live webinar and respond to all polling questions asked during the webinar. Credits would be issued on 50 minute credit hour basis.
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This event may be a recorded rebroadcast of a live event done in past and the instructor will be available to answer your questions during/after the webinar.
If you still face the polling problem please don’t panic and provide your response in the chat and we shall consider the same for processing for credits. You can download Zoom by clicking on the mentioned link : https://zoom.us/download
Our courses meet the global Continuing Professional Development (CPD-IES7) Standard for Chartered Accountants with International Education Standard 7 (IES 7) set by The International Federation of Accountants (IFAC), the International Accounting Education Standards Board (IAESB) and the Association of Chartered Certified Accountants (ACCA). Based on our accreditation by existing IFAC members and affiliates, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
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Ratings and Review

4.4

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Jeffrey Mcgahren, CPA (US)

Good and nicely summarized overview of this area. Was enjoyable and it took about an hour to complete.

Jay Weiner, CPA (US)

Excellent recap

Jeff Dempsey, CIA, CPA (US)

Good

Kim Hay, CPA (US)

For most of us this is a review. Can read the material fairly speedily because we have already seen it and questions naturally follow our presumptive reasoning.