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 overview of financial statement disclosures, with a specific focus on a subset of the more noteworthy and sometimes challenging disclosures. This course is a continuation of Part I which addressed disclosure topics related to accounting policies, revenue recognition, leasing activities, and credit losses on financial instruments. This course addresses disclosure topics including SAB 74 accounting pronouncements, business combinations, fair value measurements, segment reporting, derivatives and hedging, and asset retirement obligations.

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

• Recognize disclosure requirements related to recent accounting pronouncements
• Identify disclosure requirements related to business combinations and fair value measurements
• Recognize disclosure requirements for segment reporting
• Identify disclosure requirements for derivatives & hedging activities as well as asset retirement obligations

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