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Subsequent Events (FASB ASC Topic 855)
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Author: Steven C. Fustolo
Description:
Prior to the issuance of FAS 165, guidance for subsequent events was found in auditing literature in AU Section 560, Subsequent Events, which requires the auditor to evaluate subsequent events. No such guidance and requirement existed for company management even though there was some limited guidance scattered throughout other accounting literature.
The FASB issued FAS 165 (now codified as ASC Topic 855) so that management now is responsible for evaluating subsequent events in connection with a company's financial statements.
This course covers the scope and requirements of ASC Topic 855, as well as the definitions used in the standard.
Upon completion of this course, the user will be able to:
- Describe the scope of ASC Topic 855
- List the requirements of ASC Topic 855
- Define the terms used within ASC Topic 855
- Explain the disclosure requirements of ASC Topic 855
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Course Details:
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Price: $16.00
Field of Study: Accounting
Level: Overview
Advanced Preparation: None
Course was last updated on: 08/17/10
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Library:
Learning Center Core
Technical Requirements:
To view and print downloadable content files available in this program, you will need Adobe Acrobat Reader. You can download the free Reader plugin at Adobe's website by clicking on the icon below, then following the instructions for installation on your computer.
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| Credit Available For: |
Units |
| CPE |
1.0 CPE |
| QAS |
1.0 CPE |
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Note: Recommended CPE credit is based on a 50-minute hour. Participants earning credits for states that require self-study to be based on a 100-minute hour will receive half the recommended CPE credits for successful completion of this course.
Since Continuing Professional Education requirements vary from state to state and are subject to change without notice, please contact your state board of accountancy for information on your CPE requirements and the applicability of this course to meet those specifications.
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