Do you prepare private company financial statement disclosures in accordance with accepted accounting principles (GAAP) issued by the Financial Accounting Standards Board (FASB), or a “Special Purpose Framework” (SPF), such as cash or tax basis? If so, then this course is for you. This course addresses many frequently encountered disclosures associated with the preparation of financial statements for private companies.
Learning Objectives
Upon completion of this course, you will be able to: • Identify the types of frequent disclosures found in the financial statements of private companies.
• Recall the many ways to research private company disclosure requirements using the FASB Codification and other FREE tools.
• Recognize the additional disclosure requirements needed when using a special purpose framework.
Major Topics
• Learn to research disclosure requirements and examples using the FASB Codification and the SEC’s website.
• Understand frequent disclosure requirements such as contingencies, risks and uncertainties; accounting policies; revenue recognition in accordance with FAS ASC 606; leases in accordance with FAS ASC 842, and so much more.
• Know the additional disclosure requirements needed when preparing private company financial statements using a SPF.