This course is divided into two sections. The purpose of Section I is to review unusual reporting and disclosure issues that develop in practice including questions such as how to disclose life insurance, leases, catastrophes, agreements not to compete, and investments. Section II deals with how to disclose and present OCBOA financial statements.

After successfully completing this course, students will be able to:

• identify the accounting for different types of investments such as securities, investments using the equity method, and partnerships
• recognize some of the disclosures required for trade receivables
  
• recognize the accounting for vendor sales incentive arrangements and cash rebates from a vendor
  
• recognize how to account for an accounting change in income tax basis financial statements
  
• identify the disclosure requirements for income tax basis financial statements
• recognize the appropriate and inappropriate financial statement titles for income tax basis financial statements