Navigating the reporting of assets on a balance sheet can be a complex and nuanced task for any financial professional. The challenge lies in accurately categorizing assets as current or noncurrent, which is crucial for providing clear information about an entity's liquidity. This course agitates the common difficulties and misconceptions in asset reporting under GAAP, offering a clear path to mastering this essential skill. The solution is presented through this comprehensive course, designed to simplify and clarify the principles of asset reporting. Participants will learn to distinguish between current and noncurrent assets, with a focus on practical application and real-life examples. From cash and accounts receivable to inventory balances and intangible assets, this course offers step-by-step guidance, ensuring that participants can confidently apply these principles in their professional roles.
Learning Objectives
After completing this course, you should be able to:
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; and
Identify accounting procedures for amortizing intangible assets.
Major Topics
Objectives of Financial Reporting
Cash and Cash Equivalents
Trading Securities
Long Term Investments
Property, Plant and Equipment
