About this course
This module provides a foundational understanding of financial reporting, focusing on the principles, frameworks, and regulatory requirements that guide the preparation of financial statements. It covers the purpose and objectives of financial reporting, emphasizing the role of the Financial Accounting Standards Board (FASB) and the standard-setting process. Candidates will explore the FASB Conceptual Framework, including qualitative characteristics, recognition, measurement, and disclosure concepts, to understand how financial information is presented under U.S. GAAP. The module also delves into the structure and components of financial statements, including the Balance Sheet, Income Statement, Statement of Comprehensive Income, and Statement of Cash Flows, along with required notes and disclosures. Additionally, it examines financial reporting requirements for different types of entities, including public and private companies, not-for-profit organizations, and governmental entities. This course equips CPA candidates with the knowledge necessary to interpret and apply financial reporting standards effectively.
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This module provides a comprehensive introduction to the key financial statements used in accounting and financial reporting under U.S. GAAP. It explores the structure and components of the Balance Sheet, Income Statement, and Statement of Comprehensive Income, highlighting their role in assessing an entity’s financial position and performance. Students will learn how to classify and measure assets, liabilities, and equity, recognize revenue and expenses, and differentiate between net income and other comprehensive income. The module also covers presentation and disclosure requirements, ensuring compliance with financial reporting standards. By the end of this course, learners will have a strong foundation in financial statement preparation and analysis, essential for success in the CPA FAR exam.
This module provides a comprehensive introduction to the key financial statements used in accounting and financial reporting under U.S. GAAP. It explores the structure and components of the Balance Sheet, Income Statement, and Statement of Comprehensive Income, highlighting their role in assessing an entity’s financial position and performance. Students will learn how to classify and measure assets, liabilities, and equity, recognize revenue and expenses, and differentiate between net income and other comprehensive income. The module also covers presentation and disclosure requirements, ensuring compliance with financial reporting standards. By the end of this course, learners will have a strong foundation in financial statement preparation and analysis, essential for success in the CPA FAR exam.
This module provides a comprehensive introduction to the key financial statements used in accounting and financial reporting under U.S. GAAP. It explores the structure and components of the Balance Sheet, Income Statement, and Statement of Comprehensive Income, highlighting their role in assessing an entity’s financial position and performance. Students will learn how to classify and measure assets, liabilities, and equity, recognize revenue and expenses, and differentiate between net income and other comprehensive income. The module also covers presentation and disclosure requirements, ensuring compliance with financial reporting standards. By the end of this course, learners will have a strong foundation in financial statement preparation and analysis, essential for success in the CPA FAR exam.
This module provides a comprehensive introduction to the key financial statements used in accounting and financial reporting under U.S. GAAP. It explores the structure and components of the Balance Sheet, Income Statement, and Statement of Comprehensive Income, highlighting their role in assessing an entity’s financial position and performance. Students will learn how to classify and measure assets, liabilities, and equity, recognize revenue and expenses, and differentiate between net income and other comprehensive income. The module also covers presentation and disclosure requirements, ensuring compliance with financial reporting standards. By the end of this course, learners will have a strong foundation in financial statement preparation and analysis, essential for success in the CPA FAR exam.
FAR - 1 (EPS and Public Company Reporting Topics) focuses on the accounting and financial reporting requirements for publicly traded companies under U.S. GAAP and SEC regulations. This module covers the calculation and presentation of Earnings Per Share (EPS), including basic and diluted EPS, as well as the impact of complex financial instruments on EPS computations. Students will also explore key public company reporting requirements, including SEC filings, regulatory compliance, and disclosures specific to publicly traded entities.
Key Topics Covered:
Earnings Per Share (EPS) Calculations:
Basic EPS vs. Diluted EPS
Weighted-Average Shares Outstanding
Impact of Stock Options, Warrants, Convertible Securities, and Other Dilutive Instruments
Public Company Reporting Requirements:
Overview of SEC Reporting and Regulatory Framework
Key SEC Filings:
Form 10-K (Annual Report)
Form 10-Q (Quarterly Report)
Form 8-K (Significant Events Reporting)
Proxy Statements and Other SEC Filings
Regulation S-X and S-K Compliance
Financial Statement Presentation for Public Companies
Non-GAAP Financial Measures and SEC Disclosure Rules
This course equips CPA candidates with the essential knowledge required for EPS calculations and public company financial reporting, ensuring compliance with GAAP and SEC regulations while preparing them for exam questions related to corporate financial disclosure and regulatory compliance.
FAR - 1 (EPS and Public Company Reporting Topics) focuses on the accounting and financial reporting requirements for publicly traded companies under U.S. GAAP and SEC regulations. This module covers the calculation and presentation of Earnings Per Share (EPS), including basic and diluted EPS, as well as the impact of complex financial instruments on EPS computations. Students will also explore key public company reporting requirements, including SEC filings, regulatory compliance, and disclosures specific to publicly traded entities.
Key Topics Covered:
Earnings Per Share (EPS) Calculations:
Basic EPS vs. Diluted EPS
Weighted-Average Shares Outstanding
Impact of Stock Options, Warrants, Convertible Securities, and Other Dilutive Instruments
Public Company Reporting Requirements:
Overview of SEC Reporting and Regulatory Framework
Key SEC Filings:
Form 10-K (Annual Report)
Form 10-Q (Quarterly Report)
Form 8-K (Significant Events Reporting)
Proxy Statements and Other SEC Filings
Regulation S-X and S-K Compliance
Financial Statement Presentation for Public Companies
Non-GAAP Financial Measures and SEC Disclosure Rules
This course equips CPA candidates with the essential knowledge required for EPS calculations and public company financial reporting, ensuring compliance with GAAP and SEC regulations while preparing them for exam questions related to corporate financial disclosure and regulatory compliance.
FAR - 1 (EPS and Public Company Reporting Topics) focuses on the accounting and financial reporting requirements for publicly traded companies under U.S. GAAP and SEC regulations. This module covers the calculation and presentation of Earnings Per Share (EPS), including basic and diluted EPS, as well as the impact of complex financial instruments on EPS computations. Students will also explore key public company reporting requirements, including SEC filings, regulatory compliance, and disclosures specific to publicly traded entities.
Key Topics Covered:
Earnings Per Share (EPS) Calculations:
Basic EPS vs. Diluted EPS
Weighted-Average Shares Outstanding
Impact of Stock Options, Warrants, Convertible Securities, and Other Dilutive Instruments
Public Company Reporting Requirements:
Overview of SEC Reporting and Regulatory Framework
Key SEC Filings:
Form 10-K (Annual Report)
Form 10-Q (Quarterly Report)
Form 8-K (Significant Events Reporting)
Proxy Statements and Other SEC Filings
Regulation S-X and S-K Compliance
Financial Statement Presentation for Public Companies
Non-GAAP Financial Measures and SEC Disclosure Rules
This course equips CPA candidates with the essential knowledge required for EPS calculations and public company financial reporting, ensuring compliance with GAAP and SEC regulations while preparing them for exam questions related to corporate financial disclosure and regulatory compliance.
This module explores the fundamental concepts of stockholders' equity, a key component of the balance sheet that represents ownership interest in a corporation. It covers the classification and accounting for common and preferred stock, additional paid-in capital, retained earnings, and treasury stock. Learners will gain an understanding of stock issuances, dividend distributions, and the impact of various equity transactions on financial statements. The module also examines the accounting treatment for stock splits, share-based compensation, and key disclosures required under U.S. GAAP. By the end of this course, students will be equipped with the knowledge to analyze and interpret stockholders' equity, essential for both financial reporting and the CPA FAR exam.
This module builds on the foundational concepts of stockholders' equity, delving into more complex transactions and their impact on financial reporting. It covers topics such as stock-based compensation, convertible securities, and retained earnings adjustments. Students will explore the accounting treatment for share repurchases, dividends, and other equity transactions, gaining a deeper understanding of how these elements affect a company's financial position. The module also examines the reporting and disclosure requirements for stockholders’ equity under U.S. GAAP, ensuring compliance with financial reporting standards. By the end of this course, learners will have an advanced understanding of stockholders’ equity, essential for CPA exam success and real-world financial analysis.
FAR - 1 (Stockholders' Equity – Part 2) builds on the foundational concepts of stockholders' equity by covering more advanced equity transactions and their financial reporting implications. This module explores complex topics such as stock compensation, share-based payments, convertible securities, and quasi-reorganizations. Students will also learn about the impact of equity transactions on earnings per share (EPS) calculations and the disclosure requirements related to stockholders' equity under U.S. GAAP.
Key Topics Covered:
Accounting for Stock Compensation and Share-Based Payments (ASC 718)
Stock Options, Restricted Stock, and Employee Stock Purchase Plans (ESPPs)
Convertible Preferred Stock and Bonds: Recognition and Measurement
Quasi-Reorganizations and Retained Earnings Adjustments
Stock Buybacks and Retirement of Treasury Stock
Noncontrolling Interest and Its Impact on Equity
Presentation and Disclosure Requirements for Complex Equity Transactions
This course equips CPA candidates with the technical knowledge required to account for complex stockholders' equity transactions, ensuring compliance with GAAP and preparing them for equity-related questions on the CPA FAR exam.
