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Course Level :Basic
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Credits :1
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Pre-requisites :None
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Advance Preparation :None
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:
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.
Advisor, HP
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.
60 Ratings
JM
Dec 13th, 2023
Good and nicely summarized overview of this area. Was enjoyable and it took about an hour to complete.
JW
Mar 25th, 2024
Excellent recap
JD
Dec 21st, 2023
Good
KH
Dec 27th, 2023
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.
DR
Jun 21st, 2024
Good refresher course for ASC 275 disclosure requirements.
