Full Disclosure in Financial ReportingCode: 24-FULLDIS

103 Pages

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. 

Presentation Method:  QAS Self-Study

 

Category: Accounting

 

CPE credit:  3 Hours




Program Level:  Update




Prerequisites:  None




Advance Preparation:  None




Exam expiration date:  Participants must submit exams for grading within one year from the date of purchase