Financial Statement Disclosures: A Guide for Small and Medium-Sized Businesses

Overview

A clear and concise set of proper financial statement disclosures can make or break an entity's financial statements. Such disclosures are no longer simply additional information provided by a business; they can be complex in nature and difficult to both prepare and understand, especially for small and medium-sized businesses. Oftentimes financial statement users will first turn to the notes in the financial statements in order to get a feel for where the business and its numbers might be heading, so these disclosures need to be well-written and follow applicable standards. This course will focus on key balance sheet and income statement disclosure as well as those relating to adoption of new accounting standards related to revenue (ASC 606) and leases (ASC 842), accounting policies, changes in accounting estimates and errors, subsequent events, going concern, and related party disclosures. The course will use illustrations, examples based on private company financial statements disclosures, and real-world excerpts from financial statements to provide you with a hands-on feel for the disclosure requirements across a number of accounting standards.

Designed For

CPAs and other accounting professionals in public practice and business and industry involved in preparing financial statement disclosures for small and medium-sized businesses

Major Topics

• Financial statement disclosures for small and medium-sized businesses
• Balance sheet, income statement, and statement of cash flows presentation and disclosure issues
• Disclosure examples from all sized entities which you can use to base your disclosures on
• Developing disclosure issues, including disclosures related to the adoption of Topic 606

Learning Objectives

• Understand and apply the professional requirements and guidance for preparing financial statement disclosures for all entities, including small and medium-sized businesses
• Identify balance sheet, income statement, and statement of cash flows presentation issues
• Review disclosure examples from all sized entities, including small and medium-sized businesses
• Be familiar with developing disclosure issues, such as those related to the adoption of new accounting pronouncements
• Utilize hands-on examples and illustrations to increase your overall understanding and application of the material

Prerequisites

None

Advanced Preparation

None

Level of Knowledge

Basic

Instructional Delivery Method

Group Internet Based

CPE Credit

Participants will earn 4.0 CPE credits

Field of Study

Accounting

Registration Requirement

Pre-registration is required for this event. To register, please visit our website at tx.cpa or contact our office at 800.428.0272. To receive the full CPE credit hours, you must be logged in and engaged for the duration of the program. Late arrivals and/or early departures will be captured by the submission of participant codes within the attendance monitoring application within the webinar broadcasting application.

Refunds and Cancellations

Registration changes can be made by calling 800-428-0272 or 972-687-8500 (option 2) or by emailing learning@tx.cpa. No shows forfeit the entire registration fee.

Cancellations for in-person conferences and events received at least 10 business days prior to the start of the event are eligible for a full refund. Cancellations received less than 10 business days prior to the start of the program are subject to a 50% cancellation fee due to facility, food and beverage fees being incurred.

Cancellations for webinars, webcasts, and online programs received at least five business days prior to the start of the program will be eligible for a full refund. Cancellations received less than five business days in advance of the program are subject to a 25% cancellation fee.

The Texas Society of CPAs is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of Continuing Professional Education (CPE) on the National Registry of CPE Sponsors. 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.nasbaregistry.org.