This course provides a comprehensive look at the foundation and application of U.S. financial reporting principles. It begins with the FASB’s Conceptual Framework, covering the objective of financial reporting, the reporting entity, qualitative characteristics of useful information, and the recognition, measurement, and presentation of financial statement elements. Building on that foundation, the course explores how Accounting Standards Updates (ASUs) are issued, evaluated, and disclosed, the role and risks of accounting estimates, the treatment of accounting principle changes, and the proper handling of error corrections, including restatements. Together, these topics equip CPAs with a deeper understanding of how financial information is developed, maintained, and corrected within the structure of GAAP.

Learning Objectives
Upon completion of this course, you will be able to:
•    Identify the primary objective of general purpose financial reporting
•    Recognize the types of information financial statements are intended to convey
•    Distinguish the limitations inherent in financial reporting
•    Determine the criteria used to define a reporting entity
•    Identify the fundamental qualitative characteristics of financial information
•    Recognize the enhancing qualitative characteristics and their impact on financial reporting
•    Differentiate between relevance and faithful representation
•    Determine the effect of materiality on financial information relevance

To complete this course participants need to: Read the material provided and answer chapter review questions, successfully complete the qualified assessment with a minimum of 70% accuracy to receive your certificate. 

A course evaluation form is provided for your feedback, upon course completion. Participants have 1 year from the date of purchase/enrollment to complete this course 

Our Refund policy can be found at: https://cpeprime.com/cancellation-and-refund/