4 CPE This course provides an overview of the key presentation requirements with respect to an entity’s financial statements. This includes a discussion of key principles related to an entity’s overall presentation as well as specific topics with respect to its balance sheet, income statement, comprehensive income, statement of cash flows, as well as notes to the financial statements. The course also addresses the considerations around changes in accounting principles. The information related to this course is primarily sourced from the Financial Standards Accounting Board’s (FASB) Accounting Standards Codification (ASC).
Learning Objectives
- Recognize overall financial statement presentation requirements.
- Identify requirements for discontinued operations and liquidation basis of accounting reporting.
- Discover and determine when certain balance sheet accounts can be offset.
- Identify presentation requirements for the income statement and comprehensive income.
- Identify and list the different methods used for statement of cash flow presentation.
- Explore and differentiate between operating, financing, and investing activities in the statement of cash flows.
- Identify disclosure requirements with respect to an entity’s accounting policies.
- Recognize the requirements regarding changes in accounting principles.
Last updated/reviewed: March 4, 2024
190 Reviews (1016 ratings)
Reviews
Anonymous
()
Don't be turned off by text based course. I found it refreshing to learn by reading. I would recommend this course to others, good reminders of all the stuff you've learned but may have forgotten.
Craig Ward, CPA
(Chief Financial Officer at Geigerrig)
This is the first time I have done a Text Based Course with this group. Much different, but still learned a lot.
Anonymous
()
Straight forward materials and exam questions that reinforce the key principles and takeaways.
Anonymous
()
Lots of details to learn, and I prefer audio learning. There was much helpful information.
Anonymous
(Assistant Controller)
Very helpful information and presented in a logical format.
Anonymous
(Director)
Well organized, easy to navigate. Highly recommend
Anonymous
(Corporate Controller)
Great overview course. Straightforward. I recommend.
Anonymous
(Senior Accountant - Finance Site Lead)
I liked being able to review this course anywhere - it being in PDF form made it easy to review anywhere I was sitting still. I plan to use it as a quick reference guide in the future. The section where it's said that the direct cash method is encouraged was confusing for me when reviewing it with the review questions. Either it's an ideal preference or it's not.
Anonymous
()
Good in-depth information regarding financial statements and some more difficult areas to understand, such as change in accounting principal, liquidation basis, and discontinued operations. Information is further supported by using clear examples and additional support straight from the codification and a reputable public accounting firm.
Anonymous
(Senior Accountant)
These topics (Disc Ops, Liquidation Basis, etc.) are not common, everyday occurrences in most companies. It is good to get this refresher, especially now that I am comfortable with the more common methods of accounting, so I have something to contextualize it against.
Anonymous
()
Great course - really thorough handout/write-up that is easy to read and understand. Everything in the review questions and final exam is covered in detail within the handout. Good course to review recent changes to financial statement reporting standards as well!
Anonymous
(Corporate Controller)
this write-up course was a lot better than what I expected. It was very well written and easy to follow. It contained a lot of good information pertaining to various financial statement topics that are relevant to today. Good read!
Anonymous
(Assistant Controller)
This was a detailed course on several aspects of financial statement presentation in GAAP. I found the section on the direct vs indirect method very informative as to why companies typically choose the direct method.
Emily Jackson
( at Self-Employed)
Excellent content. This course really did a good job at getting to the meat and potatoes of the content. The content, context, and multiple modes of representation they provide is highly effective and enjoyable!
Erin McCorry
(Accounting Manager at Ascend Wellness Holdings)
This was a good recap of financial statement presentation for those of us who don't necessarily work in FS preparation but need to understand the ins and outs and guidance behind different company operations.
Anonymous
(Accounting Manager)
This was a great course that went over presentation and disclosures for unique events like liquidation and changes in accounting principles. The material in the PDF was extremely helpful for the final exam.
Paul Krieg
(Head of FP&A at Computershare)
pretty good review. Very well written - professional, clear, direct. Surprised by the written only presentation - used to the voice over, but really appreciate text content instead of random bullet points
Joshua Bourquard
(Accounting Manager Financial Reporting a.. at TPx Communications)
Overall good course. Thought it would delve a little deeper into the financial statements but a good refresher course as the presentation that go into some of the financial statements on a rule basis.
Robert Fazio
( at Regent Peak Wealth Advisors)
Overall good course. I would argue that memorizing specific ASUs for historical changes does not make you a better professional. I would prefer the questions focus more on presentation rules instead.
Anonymous
(retired)
Information presented was clear and straightforward. Very useful for accountants to refresh their financial accounting knowledge especially in the areas where there have been significant changes.
Rodney Troyer
( at Wayne Garage Door)
A good overview of financial statement presentation. As a former auditor who hasn't done this kind of work in several years, it was good to brush up on some of the various disclosures required.
Anonymous
()
It was clear, concise and thoroughly written. This course is good for both accountants new in the field as well as a great refresher for those who have been working in the field for a while.
Anonymous
()
Good in-depth information regarding financial statements and some more difficult areas to understand, such as change in accounting principal, liquidation basis, and discontinued operations.
Anonymous
(Accounting Manager)
This was an outstanding and highly recommended text based course. Lots of great refreshers regarding financial statement presentation and items that we may not present frequently.
Anonymous
(Finance Consultant)
This is a material I will save and consult going forward. It lays out nicely the important aspects to financial statement presentation acccording to the regulatory framework.
Anonymous
(Associate Director)
Course is a great foundational overview of financial statement presentation. This is a great course for people who need a good foundation for their first few FS preparation.
Anonymous
(Controller)
For this particular content, I preferred written text since it will be a great resource to refer back to over time. I liked the illustrative examples and articles included.
Anonymous
()
This course was very helpful in reviewing some of the most important aspects of financial statement presentation. I appreciated the layout and it did not feel hard to read.
Anonymous
(Assistant Controller)
This is a very good course for CPA, auditor and anyone who are interested in finance and accounting sector. The supporting material are very detailed and comprehensive.
PHILLIP CUNHA
( at CP)
really enjoyed the text nature of this course, no listening to slides, just dive into the text, really sink your teeth in the materials and LEARN. Great course Kelen!!!
Anonymous
()
This is a written CPE course. Provides in depth review of financial statement presentation and disclosure. There are also plenty of helpful examples and descriptions.
Kevin Murray
(Business Partner - Strategic Projects at The Wesson Group)
The course covers a significant amount of material that is often uncommon such as disposal of divisions and going concern treatments. It's well done and interesting.
Anonymous
(Director of IT)
Text based courses are the best. I feel like I get a lot more reading the material then watching videos. Thanks for putting the effort into making the course great.
Anonymous
(Director)
In order for a reporting entity to implement a change in accounting principle to an allowable alternative, the entity is first required to do which of the following
Anonymous
()
A significant amount of material is covered in the course and is a great refresher on FS presentation, especially uncommon topics. The examples were informative.
Anonymous
()
Covers everything from income statement, balance sheet, and statement of cash flows. Also discusses notes to the financial statements as well as other topics.
Brian Meister
(SVP Corp Compliance & Accounting at ACDI/VOCA)
THis course is a challenging and relevant course - principles that can be applied to everyday work. difficult to self study but nice to reference materials.
Brian Zinner
(Tax Accountant at Brian K. Zinner, CPA)
Great examples to illustrate important concepts. Financial statement disclosures from Form 10-K illustrated how various required disclosures are reported.
Anonymous
(Accounting Manager)
This is an excellent course that explains the principles of financial statement presentation and the various accounting standards related to the subject.
Anonymous
(Director - Accounting)
The material and questions in handout were clear and excellent to understand the course. A great refresher on GAAP presentation of financial statements.
Anonymous
(Partner)
Easy to follow along and applicable. Anyone needing auditing and attesting CPE should take this course. It is easy to understand, and I'm glad I took it.
Anonymous
(Consultant)
Great Course! A good overview of the financial statement presentation. Great examples of various disclosures required under different circumstances.
Anonymous
()
Overall a great course. I am usually not a fan of text-based courses, but this was well-written and easy to follow. Overall would recommend this course.
Anonymous
(Controller)
This provides a great resource for some of those topics that we don't deal with day-to-day. I appreciate the examples that are provided in this class.
Anonymous
()
This provided me with an overview of the key items that need to be included on a financial statement and what to do when there are accounting changes.
Anonymous
()
Great course!
Anonymous
(CFO)
Brings up new items in the financial statement presentation that we haven't considered before. This will help ensure fewer questions at audit time.
Richmond Watson
( at HighFive Healthcare)
This information was helpful as a refresher on the presentation of financial statements. These are important concepts that are needed in my career.
Kathleen Busk Varas
(Principal Financial Consultant at V Ventures Consulting)
Materials are clear and well organized to create deep understanding of various situations and how they impact financial statement presentation.
Anonymous
(Private Equity Accountant)
Very informative and useful information. This was my first text course and all the information needed was provided fairly in the text document.
Anonymous
(Controller)
Very thorough discussion on the topic. It would be helpful for those who prefer to read or search through text as opposed to watching videos.
Wilson Neely
( at Solo Stove)
Great course; very thorough. Really challenged me to jog my memory on discontinued operations and the related financial statement impacts.
Anonymous
()
This was a good overall course. The self study feature was convenient and allowed you to focus on areas that one is not familiar with.
Anonymous
(Senior Lean Development Officer)
Excellent course - broad in scope, detailed, up to date, and makes the reader focus on the content to better understand the content.
Vinicius Bravo Ferreira
(Senior Manager at World Fuel Services)
Good material. Covers the main topics related to presentation. I would suggest using slides/video as opposed to only a PDF material
Anonymous
(Accounting Manager)
The text was actually easy to consume yet very insightful and well laid out. It was very helpful in completing the exam at the end.
Anonymous
(Finance and IT Consultant)
Great course. The book threw a lot of insights into concepts like accounting for discontinued operations, FASB ASC standards, etc.
Sean Searley
( at Sean Searley)
I'll be drafting financials in the coming weeks, a refresh on these concepts is always helpful in advance of drafting each year.
Anonymous
(Owner)
A lot of information is presented in an understandable format. The inclusion of review questions in the material is appreciated.
Anonymous
(Controller)
this was a great refresher and a great source document to use in the future. I would recommend reading this document to all CPAs
Anonymous
(Senior Accountant)
Important information for those responsible in compiling financials and the various compliance when it comes to presentation.
Anonymous
(ACCOUNTANT)
Good course. It took a long time because I had to read everything and I had to do it over several days, but worth the study.
Thomas Foster
(member at Foster & Company, LLC)
Well written I prefer text based instruction as it provides a good reference for future use.
Anonymous
()
This has a lot of useful information; however it did not include a lot of the basics so it might not be good for a beginner.
Anonymous
()
great course layout, was clear and easy to follow the learning text. Clearly explained difficult t topics very cohesively.
Anonymous
(Controller)
The material was easy to follow and well organized. It also provided sufficient background to understand the concepts.
Anonymous
()
Highly recommended. The PDF material is very informative and love the fact that you can use as a reference afterwards
Anonymous
(Controller)
Amazing course. Great material for refreshing your knowledge. I have enjoyed this course and would highly recommend.
Anonymous
(Director)
Great topic and I liked that it was text based. I liked the various topics this course discussed as well - thank you!
Anonymous
(Controller)
Very informative course. Material was organized well and the examples were helpful in understanding the information.
Matthew Sloan
( at DB USA)
very well-done course. i feel like it was not too easy and also was not too difficult. good variation for what it is.
Anonymous
()
This course dives in to more specifics about things we all practice daily and is helpful for clarification purposes.
Anonymous
(Controller)
Extremely well presented and supported, I got more out of this text-based course than out of most video-based ones.
I consider that the material and question included in handout is very clear and excellent to understand the course.
Anonymous
()
While video courses are simpler, it is refreshing to find a course with comprehensive written learning materials.
Anonymous
(Internal Auditor)
Not what was expected when registered for class different then the title and assumed other topics would be covered.
Anonymous
(Assistant Controller)
Good refresher on all these various topics! Lots of good information related to disclosures and relevant topics.
Anonymous
(Vice President)
Great content, great to refresh the knowledge and understand the principles of financial statement presentation.
Anonymous
(Owner & CEO)
The course provided a good basic level understanding of important financial statement presentation requirements.
Anonymous
(Controller)
Great course with a great inclusive writeup. Very helpful to use for reference as it covers a lot of material.
Bryan Lai
(Senior FP&A Analyst at Yelp)
Was nice being able to reference the presentation. Something I will keep on my local drive for future reference
Sergey Bulychev
(Internal Auditor at CPC)
A special feature of this course is that the educational material is written and not dictated by the lecturer
Anonymous
()
Comprehensive, well written course on financial statements, touching on most of the unique circumstances.
Anonymous
(Advisor)
I really enjoyed this course, text-based courses are so helpful for me and enjoyed learning at my own pace.
Muhammad Baig
(Managing Director at N/A)
An insightful recap of presentation of financial statements, with updated codification was quite helpful.
Anonymous
(Financial Systems)
I really enjoyed taking this course, thanks for putting it together. material was engaging and informative
Anonymous
()
It was well written and contained a significant amount of information. The author is obviously articulate.
Sarah Khalil
( at Ridgewell Financial)
This course was wonderfully written and I learned a lot. I cannot wait to take more courses like this one.
Mary Lee
(Controller at CPA-MOMS)
This was a good high level review and I highly recommend. Straight forward and it was easy to understand.
Anonymous
()
This course was very helpful and provided a good refresher. I highly recommend this course to other CPAs!
Anonymous
(Consultant)
Good overall review of the basics with useful references throughout. Will save the pdf for future use.
Christopher Madsen
(Manager/Corporate Planning at Southwest Gas Corporation)
Packed full of information although probably not real exciting, unless you are a hard-core accountant.
Allison Tomko
(Senior Accounting Manager at OEConnection LLC)
Great course and review on cash flow - i really enjoyed the operating/financing and investing sections
Anonymous
()
Excellent course so we can stay updated and have in hand for future references and put into practice.
Anonymous
()
good content and well written. Enjoyed the course and will look for this writer again in the future.
Anonymous
()
I really liked how the text included thoughtful examples that improved my understanding of the text.
Kimberly McLamb
( at Kimberly McLamb, CPA)
Concise and easy to follow course on updates to financial statement presentation, very appreciated!
Anonymous
()
Very interesting course. Some of these topics are ones that I haven't touched on in quite a while.
Anonymous
(Managing Director)
The course well extracts the important parts for financial statements for accountants and auditors.
Anonymous
(VP of Accounting)
Very good course, I enjoyed it and it is a nice way to remember all the good stuff that we learned
Anonymous
()
The course provided the necessary information to understand the concepts described in the summary.
Anonymous
()
Great update on financial statement presentation. this course was very clear and easy to follow.
Anonymous
(CPA)
The course was easy to follow. It covered a great deal of material, and was a great refresher.
Elizabeth Fazio
( at Floor & Decor)
Informative and easy to follow. I like that I can save off the information for future reference.
Jill Todd
(staff accountant at The Cooper Group)
the text was adequate in order to pass the test. It could have been made easier to understand.
Laura Irwin
(Senior of Technical Accounting and SEC R.. at ZoomInfo)
self-guide was concise and educational - I enjoyed having the ability to self-pace the course
Anonymous
()
Very clear and straightforward, review questions were a good preparation for the actual exam.
Julia Kramer
(Financial Behavior and Leadership Consul.. at Signature Financial Planning)
The text was clear and definitive and the examples helped to solidify the knowledge I gained
James Faranda
(Auditor at CBP DHS GOV)
lots of good examples of the subjects explained in the text.
Good coverage of the topics.
Anonymous
()
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Anonymous
(Finance Manager)
Great refresher and will plan to take again. Learning plan was well developed and helpful.
Anonymous
(Owner)
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Mark Eastman
(Accountant at Self)
The material is dense and detailed. Be prepared to read and reread to fully comprehend.
Anonymous
()
Nice course, appreciate being able to follow along with the well-organized PDF materials.
Sarah Anchecta
(ACM Accountant at Houton Methodist)
Very well explained! The handout was helpful and had good illustrations of the concepts.
Anonymous
()
It is refreshing to review financial statement disclosures and discontinued operations.
Anonymous
()
This is a course about the basics of finance statement presentation, just as described.
Susan Nielsen
( at MasterControl)
Very thorough and condensed text content. I appreciated the format and digestability.
Anonymous
(Director Net Revenue)
Materials are well laid out and logical. Highlights key components of these standards
Roy Singer
( at N/A)
Great course I recommend this to everyone that wants to learn more about this topic
Anonymous
()
I thoroughly enjoyed this course and would recommend it to any business professional.
Lindsey Tookey
(Director of Financial Accounting at Instacart)
Good reminder of different scenarios that can impact financial statement presentation
Maddison Lopez
(Finance Manager at KB Home)
Detailed and specific. Good refresher for GAAP presentation of financial statements.
Brenda DeMott
(Director of Finance at Battle Creek Public Schools)
Excellent course. So much detail and is good reference material to have available.
Anonymous
(Controller)
Text was broken up into clear sections. Good refersher for technical presentation.
Christopher DiVincenzo
( at Seattle Fish Company, LLC)
Detailed content. Content provided adequate examples on F/S statement presentation.
Anonymous
(Corporate Controller)
Great overview of accounting principles related to presentation - great reminders.
MAUREEN WALSH
(Sr Acct at kd)
this course met expectations to meet continuing professional education requirements
Marina Bisker
(Manager at Self Employed)
Lots of information, a bit dry course but you get 4 credits for it which is a plus
Locksley Simmons
( at Merrill Lynch)
Very good overview and great references in PDF. Always good to review the basics.
Anonymous
(Chief Financial Officer)
Pretty good review of information, just keep in mind all the material is printed.
Anonymous
(Chief of Operations)
Good, focused guidance on certain topics. Some I knew and other things were new.
Lance Bisesar
( at Casper Sleep, Inc.)
Informative and concise. Helped with material for current and future disclosure.
Ryan Yee
( at Airbnb)
Great course, very informative and an awesome refresher on these basic principles
Anonymous
()
A good overview of financial statement presentation and the appropriate guidance.
Anonymous
()
I really enjoyed the content, this was my first PDF course. I think it went well.
Anonymous
(CPA)
Highly recommend this course. The reference materials are helpful and practical.
Anonymous
(Principal)
instructor did a good of clarifying some financial statement presentation topics
Anonymous
()
This was a useful update on financial statement presentation, good information.
Anonymous
()
This course was great! I loved learning about financial statement presentations
Anonymous
()
Great course! The questions were relevant to the material and I learned a lot.
Derek Ettinger
( at GP Fund Solutions, LLC)
Very comprehensive and well-organized guide. Excellent future reference guide.
David Fisher
(Associate at YPTC)
I really liked this course. Material was clearly presented and laid out well.
Anonymous
(Associate)
Great course on principals of financial statements, very easy to follow along.
Anonymous
()
The information was presented in a clear format that was easy to read through.
marie Lemay
(Senior, SEC Reporting at Prologis)
great detail provided in the presentation. overall a very informative lesson.
Anonymous
(Controller)
In-depth and easy to understand review of financial statement presentation.
Anonymous
(Financial Manager)
Thanks for Principles of Financial Statement Presentation (Text Based Course)
Anonymous
(Accounting Manager)
I would recommend this course to any CPA who is working on their CPE credits.
Anonymous
()
Excellent course for more indepth discussion on financial statement topics.
Anonymous
(Accountant)
Great course, clear and concise, would recommend others to take this course
Anonymous
(Senior Accountant)
Great material, super informative, great course, learned a lot! Thank you!
Anonymous
()
This was a helpful review of financial statement presentation - thank you
Anonymous
()
I enjoyed learning about the actual principles of Statement presentation.
Anonymous
()
Really great, comprehensive course. Especially for a pretty dense topic.
Steven Rosen
( at California Lutheran University)
Needs to be updated slightly and add a section on order of presentation.
Lindsey Kranz Ramirez
( at Cohesity)
Great course. The PDF is very helpful and I'll retain it for future use.
Inna Shmukler
(Controller at Fornetix LLC)
Lost of information. It is a great summary of a very critical aspects.
Anonymous
(Director)
Good refresher course on financial statements presentation principles.
Abraham Minto
( at Abraham Minto LLC)
Kelen’s course on Financial Statement Presentation was well prepared
Melissa Atteberry
( at Fred Hutchinson Cancer Center)
Great course with comprehensive supporting text and good practice exam
Anonymous
(Director of Finance)
Tied to educational objectives, connected to real-life situations
Anonymous
()
Clear and complete course. Examples were helpful and easy to follow.
Anonymous
(CPA, CFE, MBA)
Thorough discussion of topics with appropriate amount of time given.
David Jamison
(Assistant Controller at Reagan Outdoor Advertising)
Fairly technical and challenging, but a great review of these items.
Anonymous
()
very informative and challenging. It was certainly a good experience
Joe Isaacs
(Unemployed at N/A)
The material was very well written and extremely detailed oriented.
Edward Rodriguez
( at Nuckles Oil Company, Inc)
boring, dry, not helpful, just something i'd never want to do again
Anonymous
(Bonding Manager)
Material is informative and the principles are clearly presented.
christina sparano
( at blockchain.com)
Good refresher on cash flows and change in accounting principles
Anonymous
(Auditor)
Class was good. This course will definitely help me with my job.
Anonymous
()
This course was informative on financial statement presentation
Anonymous
(Consultant)
Great course for CPE coming from a real CPA. I like the format.
Anonymous
()
Good material, though I prefer the guided / video CPE courses.
Anonymous
(Finance Director)
A well written, detailed course providing excellent examples!
Anonymous
(SVP)
Great course. Attached pdf was great and easy to understand.
Anonymous
()
There was a lot of useful and new information which I liked.
Anonymous
()
The course provides extensive detail on the subject matter.
John Kim
(Accountant at Pepsico, Inc.)
The text is very organized and easy to follow. Very helpful
Anonymous
()
Subject matter was long and tedious, but that was expected
Anonymous
()
Love text-based courses. Very well-written and organized.
Sally Huang
( at Graphite Financial)
A little tedious to only be reading through an entire pdf
Margaret Hammond
( at Margaret Hammond)
Good overview of financial required financial statements.
Syed Kazmi
(Controller at Encompass Capital Advisors LLC)
All concepts are explained in detail and understandable.
Anonymous
(CFO)
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Anonymous
(Senior Revenue Manager)
I enjoyed the course, and I found it very informative.
Anonymous
(Sr. Manager, Hotel Accounting)
This course was very informative and a great refresher!
Anonymous
(Senior Consultant)
Great refresher and update of ASU and PCAOB principles.
Avraham Mafouda
(CFO at Joybees LLC)
Clear, concise, and practical. Perfect for beginners!
Briana Dowling
(Sr Manager of IA at Callaway Golf)
the PDF is sufficient to pass the exam..............
Prerequisites
Course Complexity: Intermediate
No advanced preparation or prerequisites are required for this course.
Education Provider Information
Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA
95113
Contact:
For more information regarding this course, including complaint and
cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to
.
Kelen CamehlCPA, MBA
About Illumeo
Platform
Resources
Contact Us
- Email: info@illumeo.com
- Phone: 408-400-3993
- Adress: 1608 W Campbell
- Av #221, Campbell, CA 95008
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