Course Description:
Over the past decade, the nature of Financial Reporting Disclosures Statements has evolved to meet the needs of users. Business and markets have become more complex business models, sources of risk and uncertainty, as well as greater sophistication in how risk is managed thus the need for Financial Disclosures. This reflects a demand for information that is relevant to users, some of this information may be more subjective and less reliable thus the purpose of Financial Reporting Disclosures.
Accurate financial reporting is perhaps the most important thing we can expect from companies. It helps investors make decisions whether to buy stocks or bonds or make private investments, it helps bankers to decide if they will loan money, and it helps stockholders determine their next investment all these parties need truthful statements. When information is as clear as possible and is reported frequently companies and individuals can make the best decision. "The more knowledge you have the more powerful you are".
The integrity of the company is undermined if financial information is misrepresented, or not accurate or understandable. With fraud at an all-time high, a well-designed Financial Reporting Disclosure System will help ensure high standards, when properly implemented, drive excellence.
We are in situations now in our society where the temptation to provide non- accurate financial reports is greater than it used to be. The need to get the stock price up, or to keep it up, is intense. So, the temptation to play games and manage earnings is probably greater than it used to be or needs to be.
Financial reporting disclosure requirements and practices have also had to respond to these changes by shifting from simply providing breakdowns of line items on the face of the financial statements to providing more detailed disclosures, including disclosures of assumptions, models, alternative measurement bases and sources of estimation uncertainty. With the requirements of Sarbanes Oxley, Financial Reporting Disclosures Statements have become more important than ever. In fact, disclosures have become the balancing item in the calculus of how to provide credible, decision-useful information.
Seminar Fee Includes:
Learning Objectives:
- Have a good working knowledge of Financial Reporting Disclosure Statements
- Which principles are relevant and important to Disclosure Statements
- How to have a sound understanding of Disclosure Statements issues or concerns.
- How these standards are applied in practice so you can apply them to your own business
- Clearly understand the reasons Financial Reporting Disclosure Requirements and Practices have changed
- How to understand disclosures of assumptions, models, alternative measurement bases and sources of estimation uncertainty.
- Understand disclosures have become the balancing item in the calculus of how to provide credible, decision-useful information
Areas Covered:
- Overview of Disclosure Rules
- Adoption of International Disclosure Rules
- Audit Committee Disclosures
- New Accounting Rules Disclosure
- International Accounting Standards Concept Release Disclosures
- Encountered Reconciliation to GAAP Disclosures
- Issues related to Recent US GAAP Pronouncement Disclosures
- FASB Statement 133 Initial Filings
- FASB Statement 130 Comprehensive Income
- FASB Statement 131 Segment Reporting
- FASB Statement 123 Stock Compensation Disclosures
- FASB Statement 109 Income Taxes
- Disclosure used in Specialized Industries
- Plus many other Financial Reporting Disclosure Requirements and Practices
Who Will Benefit:
- All professionals who want to expand their knowledge in Financial Reporting Disclosures Statements
- This webinar will provide valuable assistance to all personnel in:
- Accounting & Finance Departments
- Business Owners, Department Managers, Personnel Managers
- Accountants, CFO, Boards, COO, CEO
Course Outline:
| Day One (8:30 AM – 4:30 PM) | Day Two (8:30 AM – 4:30 PM) | ||
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Registration Process: 8:30 AM
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Meet Your Instructor
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David E. Sanders PhD, President, Sanders and Sullivan Consulting David E Sanders PhD. is considered one of the world’s leading experts in accounting, finance, accounts payable, accounts receivable, payroll, budgeting, collections, cost accounting, personal finance, personal income taxes, business taxes, business set up, sales & use taxes. internal controls, inventory management, cycle counting, record keeping and vendor, supplier management. He has continuous requests to train employees and to hold public seminars. He has conducted approximately 10,000 training sessions, including public seminars, on-sites, company training, chamber of commerce's, colleges, training videos, CD's and webinars worldwide. David is called upon nationally and internationally for his SOX training abilities and to perform, walk through interim testing for core financial processes such as internal controls, fraud detection, internal controls, financial reporting, IFRS, revenue, inventory controls and expenditure testing. The author of four acclaimed books and over 25 seminar workbooks and numerous webinars, Dr. David has a talent for breaking things down into easy to understand steps that can be implemented immediately. David was an Endorsed Local Provider for the Dave Ramsey Show covering the greater Cincinnati, Northern KY and Eastern Indiana areas. David has a wealth of experience to share that is supported by impeccable financial credentials including over 37 years experience in the financial industry. He holds numerous degrees including Accounting, Business Administration and Finance. His experience has included Accounting Manager, Corporate Controller, CFO (Fortune 50 Company, Government Tax Auditor, Business Consultant, and senior partner for various Accounting/ Tax/ Auditing firms nationally. |
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