The full disclosure principle, one of the 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:
June 09, 2020
This course is available with
NO ADDITIONAL FEE if you have an active
self study membership or
all access membership or can be purchased for
$25.00!
| Author: | Delta CPE |
| Course No: | ACT-DISCLOSURE-4850 |
| Recommended CPE: | 2.50 |
| Delivery Method: | QAS 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.