Financial Statement Disclosures Part 1


Financial statement disclosures are an integral component of an entity’s complete set of financial statements. One of the objectives of financial reporting is to provide information to investors, lenders, creditors, and other stakeholders for use in making decisions regarding whether to invest in an entity. These decisions by these various stakeholders can very much be based on their assessment of the entity’s potential for future positive cash flows as well as overall financial performance. Given that an entity’s consolidated financial statements can only provide so much information, the accompanying financial statements disclosures help to fill in the gaps.

This course provides an explanation of current reporting policies, focusing on some of the more challenging aspects of disclosure. After covering disclosure requirements related to accounting policies, the course delves into the details of revenue recognition, leasing, and credit losses on financial instruments. Technical aspects form the basis of many practical examples that will help the CPA in practice.

Learning Objectives

Upon completion of this course, you will be able to:

  • recognize disclosure requirements related to accounting policies
  • Identify disclosure requirements related to revenue recognition
  • recognize disclosure requirements for lessees and lessors under the new lease standard
  • identify new disclosure requirements related to credit losses on financial instruments

Designed For

CPAs and other accounting professionals in public practice and industry


A general familiarity with balance sheet, income statement, and statement of operations and an awareness of general disclosure requirements

Advanced Preparation


WebCE® is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: For more information regarding WebCE administrative policies such as refunds, cancellations and concerns, please contact Support Services at 877-488-9308.

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