Disclosure: The Key to Financial Statements

Wednesday, November 2 8:45am - 4:30pm

(Check-In 8:45am)

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8.00 Credits

Member Price $269.00

Price will increase by $35 after 10/26

Non-Member Price $394.00

Price will increase by $35 after 10/26

Overview

A company’s financial statements are far more than just financial data. This is where the disclosures become key to explaining what the numbers may not be able to on their own. Keep your professional reputation stellar by making sure your financial statements are up-to-speed. This course will explain and illustrate disclosure requirements, clear up misconceptions on practice problems, correct disclosure deficiencies most frequently cited by peer reviewers, and illustrate revenue and lease disclosures based on Topics 606 and 842.

Objectives

Prepare disclosures necessary for both public and non-public entities

Highlights

  • Special emphasis is given to common disclosure deficiencies noted in practice
  • Recent changes in accounting guidance that impacts disclosures
  • Risks and uncertainties and accounting policies
  • Liabilities-how debt violations impact classification
  • Uncertain tax positions
  • Accounting changes, error corrections, and other categories in the income statement
  • Cash flow statements

Designed For

CPAs, accountants, and financial professionals in industry and public practice who are responsible for the preparation of financial statements. This program is also a must for those professionals who will undergo peer review.

Prerequisites

Participants should be familiar with current accounting issues

Preparation

None

Notice

Qualifies for the 24-hour Yellow Book requirement if an auditor has FASB Yellow Book clients. Determination as to the qualification of certain courses for the Yellow Book 24-hour requirement should be made on an auditor-specific basis depending on that auditor’s Yellow Book clients. Note that the determination of course qualification is a matter of an auditor’s professional judgment in consultation with appropriate individuals in the audit firm. The 24 hours are a subset of the 80-hour requirement.

By registering for this program and, accordingly, receiving the eMaterials, you’re acknowledging that you understand both the copyright restrictions on your eMaterials and the CTCPA cancellation policy.

Leader(s):

Leader Bios

James Newhard

James J. Newhard, CPA, licensed as a CPA in Pennsylvania, is a discussion leader for Loscalzo Associates Ltd. and an established CPA practitioner with 37 years of practice in public accounting. Jim spent over 7 years of public practice with a regional and national CPA firm in their A&A departments. Subsequent to that, Jim established his own firm, James J. Newhard, CPA, in December 1986, committed to a focus on small business entrepreneurs, individuals, and not-for-profit organizations, and providing a variety of tax (preparation, planning, and controversy), accounting (review, compilation, and QuickBooks Pro-Advisor), business analytics and attestations, and advisory services to individuals, small-to-medium sized businesses, not-for-profit entities, estates, and trusts.

Jim is a member of the AICPA (including PCPS and Tax Section) and serves on the FRF for SMEs task force. He is also a long-time, very active and involved member of the PICPA, including many years of leadership in the Greater Philadelphia Chapter, including serving as Chapter President (2006–2007). He was the recipient of the Volunteer Service Award (2009) and the Champion Service Award (2012). Jim serves on several PICPA statewide committees, including the Committee on Accounting and Auditing Procedures, CPA Image Enhancement, Member Services, State & Local Taxation (as well as the Act 32 Task Force), and Legislation. At the Philadelphia Chapter level, Jim serves on the Committee on Local Taxation & Legislation Committee, Federal Tax, Member Services, and the Accounting & Assurance Committee. Jim serves as a member of PICPA Council (2015-2017), and serves on the Future of Education task force. Additionally, he now serves as the editor of the Accounting & Auditing column for the Pennsylvania CPA Journal (previously editor for practitioner’s column), has authored several columns and features, and has provided PICPA webinars on both PA local taxation and A&A update.

With a career-long focus on practitioner services and the essential client services, Jim serves as discussion leader for Loscalzo Associates in compilation and review, practitioner financial reporting and standards issues and updates (including revenue and leasing), tax matters programs, professional ethics (financial statement and circular 230 tax), Special Purpose Framework Financial Reporting, Financial Reporting Framework for SMEs, FASB and AICPA Update, and workpaper considerations and issues.

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Non-Member Price $394.00

Member Price $269.00