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Course No: 143721

Balance Sheet - Reporting Assets

$45

  • Credits: 5.0
  • Program level: Intermediate
  • Prerequisites: Basic Accounting

Field of Study: Accounting

Course Description

An asset is an item of economic value expected to yield a benefit to the owing entity in future periods. To provide information about liquidity, assets are divided into current and noncurrent assets on the balance sheet. A current asset, such as cash, account receivable, and prepaid expenses, is expected to be consumed within one year, while noncurrent assets, such as long-term investments, property, plant and equipment, and intangible assets, are to be consumed in more than one year. This course discusses generally accepted accounting principles (GAAP) for reporting both current and noncurrent assets on the balance sheet. The course is designed to help you navigate common asset accounts with specific examples to illustrate the application.

Learning objectives

  • Recognize basic principles of reporting assets on the balance sheet.
  • Identify accounting procedures for cash and accounts receivable.
  • Recognize how to how to compute inventory balances.
  • Identify the reporting requirements of debt securities.
  • Recognize how to account for and report tangible assets.
  • Identify accounting procedures for amortizing intangible assets.

Advance preparation: none

Course Material: Online Material

Type of delivery method: QAS Self-study

Final examination expiration date:

The program participant will have one year from the date of purchase to complete the course and final examination.

We are Register with

Web CPE is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit.

Web CPE is registered with the IRS to provide Continuing Education (CE) programs to the Enrolled Agents and other tax return practitioners.

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