Full Disclosure in Financial Reporting
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.

Course Publication Date: July 26, 2016

This course is available with NO ADDITIONAL FEE if you have an active self study membership or can be purchased for $35.00!

Author:Delta CPE
Course No:ACT-DISCLOSURE-4856
Recommended CPE:2.00
Delivery Method:Self Study
Level of Knowledge:Basic
Prerequisites:None
Advanced Preparation:None
Recommended Field of Study:Accounting
  
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Learning Objectives
  • Recognize the full disclosure principle and its implementation.
  • Identify the types of major accounting disclosures.
  • Recognize the disclosure requirements for major business segments and related party transactions.
  • Recognize disclosure requirements for derivatives, subsequent and interim financial reports.

CPE Depot 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 submitted to the National Registry of CPE Sponsors through its website: www.learningmarket.org.

Sponsor Number: 109423

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