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
Identify the scope of transactions included within ASC Topic 275
Recognize when disclosure is required related to accounting estimates
Differentiate between concentration areasand whether or not disclosure is required
Major Topics
Risks and Uncertainties
Scope of Disclosures
Nature of Operations
Illustrative Examples from ASC Topic 275
Illustrative Examples from Public Business Entities
