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Course Information

Course No: 153122

Course Name: Disclosure of Risk and Uncertainties

Field of Study: Accounting

Course Description:

This course provides an overview of the disclosure requirements regarding risks and uncertainties. The disclosure requirements related to risks and uncertainties are prescribed by the Financial Accounting Standards Board (FASB) in ASC Topic 275. For public business entities that file their annual and interim reports with the U.S. Securities & Exchange Commission (SEC), there are also additional disclosure requirements required by Regulation S-K. This course focuses on general disclosure requirements outlined in U.S. GAAP. This course also provides illustrative examples from both the GAAP implementation guidance as well as actual SEC filings from public business entities.

Learning objectives: After completing this section, you should be able to:

Identify the scope of transactions included within ASC Topic 275.
Recognize when disclosure is required related to accounting estimates.
Differentiate between concentration areas and whether or not disclosure is required.

Course Material: Online Material

Program level: Overview

Prerequisites: None

Advance preparation: None

Type of delivery method: QAS Self-study

Recommended CPE credits: 1.0

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

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. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.