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Segment Reporting Basics

  • CPA/ABV
  • CIA
  • CMA
  • CPA (US)
  • CVA
  • IAP
  • QIAL

Published: January, 2022

Before starting this self study program, please go through the instructional document.

  • Course Description
  • Course Qualification
  • Presenter
  • Faq

Course Description

Overview

  • Operating Segment Determination
    4 mins
  • Operating Segment Determination
    6 mins
  • Required Disclosures for Reportable Segments
    12 mins
  • Interim Period Information
    15 mins
  • Information about Major Customers
    17 mins

Course Description

Think segment reporting is just about disclosure?

Think again.

In this CPE webinar, we go back to the basics to discuss the broader impact it can have on your financial statements.

Segment reporting is the reporting of the operating segments of a company in the disclosures accompanying its financial statements.

In financial reporting, a segment is a part of the business that has separate financial information and a separate management strategy. Segments may be geographic, line of business, or departmental. Public companies are required to report by segment in the notes of financial statements.

The Financial Accounting Standards Board (FASB) sets the accounting standards for business segment reporting. FASB Accounting Standards Codification (ASC) 280-10-10-1 requires that all segments of a company's business align with the company's reporting structure. A company does not need to report all of its business segments, however.

According to U.S. Generally Accepted Accounting Principles (GAAP), public companies must report a segment if it accounts for 10% of total revenues, 10% of total profits, or 10% of total assets. International standards differ somewhat.

This CPE course will be an overview of:

  • The accounting and reporting requirements with respect to segment reporting.
  • The accounting standards apply to the identification and disclosure of reportable segments (FASB in ASC topic 280).
  • The identification of the chief operating decision-maker (CODM).
  • The terminology relevant to segment reporting.
  • The implementation issues related to reportable segments.


This CPE webinar also provides information on disclosure requirements as well as illustrative examples of segment disclosures for companies in different industries.

Learning Objectives

  • To identify key characteristics of operating segments.
  • To analyze the key characteristics of the chief operating decision-maker.
  • To identify the quantitative thresholds used for reportable segments.
  • To analyze the accounting standards applicable to the identification and disclosure of reportable segments.
  • To explain the terminology relevant to segment reporting.
  • To recognize disclosure requirements for reportable segments as well as entity-wide disclosures.

Recommended For

  • This CPE webinar is recommended for CPAs, CMAs, CVAs, ABVs, IAPs, QIALs, and other accounting and finance professionals desiring to upgrade their knowledge over operating segments and their disclosures.

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Accounting Managers
  • Accounting Practice Owners
  • Accounts Director
  • Chief Accounting Officer
  • Cloud Accountants
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Entrepreneurial Accountant
  • Entrepreneurial CPA
  • Senior Accountant
  • Staff of Accounting Firm
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 1 CPE Credit for Qualification in Internal Audit Leadership (QIAL)
  • 1 CPE Credit for Internal Audit Practitioner (IAP)
  • 1 CPE Credit for Certified Valuation Analyst (CVA)
  • 1 CPE Credit of Accounting for Certified Public Accountants (CPA-US)
  • 1 CPE Credit for Certified Management Accountants (CMA)
  • 1 CPE Credit of Accounting & Auditing for Certified Internal Auditors (CIA)
  • 1 CPD Credit for Accredited in Business Valuation (ABV)

Presenter

About Presenter

Kelen Camehl, CPA (US), MBA

Advisor Kelen Camehl CPA

Kelen is a recognized author and reviewer of CPE courses and has authored over 85 courses (225+ 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 has also remained involved in CPA exam content development for nearly 10 years and has 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 over 15 years of progressive finance and accounting experience. He currently serves as an Accounting Policy Consultant with HP, Inc. in Dallas, TX.  Most recently he was located in Budapest, Hungary on a three-year international assignment and served in the company’s Houston, TX location prior to this assignment.  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


Faq

FAQs content

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