Kelen F. Camehl, CPA, MBA


    Credit Info
  • NASBA Field of Study

  • Format

    On demand

  • Level

  • CPE Credit


  • Course acronym

  • Prerequisites

  • Course duration

    1.5 Hours

Key Principles and Financial Statement Presentation

This course thoroughly reviews the requirements for financial statement presentation under U.S. GAAP including the structure of FASB’s Accounting Standards Codification (ASC). It also presents requirements of specific FASB ASC topics related to financial statement presentation, including those for the balance sheet, income statement, statement of cash flows, notes to financial statements, and interim reporting.
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Topics discussed

• Financial Accounting Standards Board’s Accounting Standards Codification (FASB’s ASC)
• U.S. GAAP Financial Statement Presentation
• Balance sheet
• Income statement
• Statement of cash flows
• Notes to financial statements
• Interim reporting

Learning objectives

• Identify authoritative sources of generally accepted accounting principles (GAAP).
• Recognize nonauthoritative sources of GAAP.
• Identify how amendments are made to the FASB Accounting Standards Codification® (ASC).
• Differentiate between sections of FASB ASC.
• Recognize key principles prescribed by various FASB ASC topics related to financial statement presentation.

Who will it benefit?

Accounting and finance professionals who work for enterprises required to comply with U.S. GAAP or are interested in understanding U.S. accounting fundamentals.