This detailed course is designed to navigate the complexities of the full disclosure principle in accounting, a key aspect for finance professionals committed to transparency and accuracy in financial reporting. Participants will gain an in-depth understanding of the full disclosure principle, learning to identify the types of information that should be disclosed under this principle, including significant accounting policies and their common disclosures such as revenue recognition and hedges. The course covers a wide range of disclosure requirements, from subsequent events and major business segments to related party transactions, risks and uncertainties, and interim financial reporting. Through real-world examples, participants will see these principles in action, enhancing their ability to apply them in their professional practice. This course equips participants with the knowledge and skills necessary to ensure that financial statements are complete and not misleading, thereby fostering trust and informed decision-making among users of financial reports.
Learning Objectives
Upon successful completion of this course, participants will be able to:
Recognize the full disclosure principle and its implementation
Identify information disclosed in the summary of significant accounting policies
Recognize common disclosures relating to accounting policies (e.g., revenue recognition, hedges)
Identify disclosure requirements for subsequent event, major business segments, related party transactions, risks and uncertainties, and interim financial reporting
Major Topics
Full Disclosure Principle
Accounting Policies
Subsequent Events
Common Disclosures
Summary of Significant Accounting Policies
Unconditional Purchase Contract Obligations.
Segmental Reporting
Related Parties
Risks and Uncertainties
Accounting Changes and Error Corrections
Interim Financial Reporting