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Self-Study CPE
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Self study cpe
Introduction to Financial Statements and the Environment of Financial Reporting

INTRODUCTION TO FINACIAL STATEMENTS AND THE ENVIRONMENT OF FINANCIAL REPORTING

CPE Processing Fee$60.00
Webinar TranscriptionN/A
Presentation Length Hour(s)3.0 hours
CPE Credits 3.0 hours
Subject Area 3.0 - Accounting
CE Credits 0.0 hours
Course LevelBasic
Instructional MethodQAS Self-Study
PrerequisitesNone
Advance PreparationNone
Recorded DateFeb 22, 2021
Date OfferedFeb 22, 2021
Course Description

This course is an introduction to financial statements, why they are important, what they are, and includes a description of the environment in which they are prepared and used as well as a description of the concept of corporate governance.  It emphasizes the role of financial statements in measuring how well companies have performed on key factors of business success.

Learning Objectives:


  • Describe why financial statements are important and how they are used

  • Describe the four financial statements and explain how they differ

  • List the 5 basic questions, in order, that cover the concepts measured by the financial statements

  • Use actual dollar values from actual financial statements to answer the 5 basic questions

  • Describe the economic forces that influence the preparation, use and analysis of the financial statements

  • Define the concept of corporate governance and how it relates to the financial statements

  • Describe the key areas of running a business and how they relate to how capital flows through the business

  • Link the key areas of running a business and their results to the financial statements

Self-Study Course Instructions:

FOR DOCUMENT-BASED COURSES

Download the course document(s) (below) and follow prompts contained in the document.



FOR RECORDED COURSES WITH VIDEO

Download any course document(s) (below) which may include handouts, glossary, transcripts, etc. Follow any prompts contained in the documents to help you complete the course. Most documents are searchable.

Play the recording, noting the sectional guides indicating where topics on the agenda are covered and the prompts to pause video playback to respond to a review question (located below the video playback area). The timestamps for review questions are also noted below.

Upon completing the video and successfully answering all review questions, you will then take the final exam.

Not logged
Additional Materials
Agenda
Review Questions
Review Questions
QUESTION 1: 11:28 minutes
QUESTION 2: 15:52 minutes
QUESTION 3: 37:10 minutes
QUESTION 4: 53:55 minutes
QUESTION 5: 01:06:57 minutes
QUESTION 6: 01:20:30 minutes
QUESTION 7: 01:38:00 minutes
QUESTION 8: 01:49:38 minutes
Frequently Asked Questions
  • CPAacademy self-study courses are online.
  • The self-study format allows you to a) access the material online 24/7 and b) study at your own pace.
  • Per NASBA guidelines, you have one year from date of purchase to complete each program.
  • Complete your final exam at any time and get graded instantly. You can retake the exam at no additional charge (unlimited attempts).
  • Print your own certificate of completion on the spot upon passing the exam.
  • Grading policies: a) courses have a minimum passing score 70% b) test takers will not be provided feedback on failed exams.
  • Upon achieving a passing score, test takers will be notified of the correct answers to the questions missed.

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Jamie Pratt held the Alva L. Prickett Chair of Accounting at the Kelley School of Business at Indiana University in Bloomington, Indiana, for 10 years and in now holds the title of Emeritus faculty.  He received his doctorate in business from Indiana University in 1977, and has held faculty positions at the University of Washington (Seattle), the University of Zurich (Switzerland), Northwestern University and INSEAD (Fontainebleau, France), returning to Indiana in 1991.

Jamie’s research interests are in financial reporting and analysis, where he has published over 30 articles in the top academic research journals (including The Accounting Review, Journal of Accounting Research, Contemporary Accounting Research, Accounting, Organizations and Society, and Issues in Accounting Education), and he has taught courses in financial reporting and analysis at every level (introductory, intermediate, advanced) in every program (undergraduate, MBA, PhD).  He has received over 30 teaching awards and recognitions, and also taught executive education courses throughout the world.  Research and/or teaching recognitions have also come from the following organizations: American Accounting Association, American Taxation Association, Big 4 accounting firms (KPMG and PriceWaterhouseCoopers), Indiana Society of CPAs, the Universities of Manchester (England), Kwansei Gakuin (Japan) and Kentucky, and Business Week magazine.  His resume also includes two textbooks (one in its 11th edition), two computer-based interactive case platforms, a financial analysis case book, and several instructor guides that support these products. 

He is now CEO of PRATTedu (www.prattedu.com), which produces and delivers online video-based courses, primarily in the area of financial reporting and analysis.
 

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CPAacademy.org (Sponsor Id#: 111889) 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: www.nasbaregistry.org.

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About Our Presenter

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PRATTedu is an accounting CPE credit provider that offers video-based financial accounting courses that anyone can use to gain knowledge of financial statements and financial analysis.