Basic Cooperative Footnotes and Financial Disclosure

What is NSAC's Cooperative Learning Network?
A NSAC Cooperative Learning Network is a live, interactive 60-minute conference presented over the telephone and over the Internet. You can attend from any location that has telephone and Internet access. You pay just one registration fee for as many participants as you wish at each call/log-in location.

Note that high-speed Internet access is not mandatory – the system works with dial-up but you must have separate connections for the audio and video portions. You may use cell phones for the audio if you have only one connection.

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CPE Credits
NSAC 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 addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN, 37219-2417. Web site: www.nasba.org.

What does my registration include?
Your registration includes long-distance charges for the audio portion and log-in to the video presentation. All handouts and presentation files are downloadable and may be printed out or saved to the participant's computer once they are logged in to the session meeting room. Sessions include one CPE Certificate of Attendance. Certificates for additional participants are $10.00 each.

Sessions qualify for CPE credit if requested.

Why NSAC Cooperative Learning Networks?

Fast.
No wasted time. Get right to the heart of the matter in a 60-minute session designed to easily fit into your busy schedule.

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Easy.
A telephone and computer are all the equipment you need. Just dial in and log-in to the system. That's it.

Ideal for multiple attendees.
Use a speakerphone and projector and invite as many people as you want to participate - at no extra cost to you.

Affordable.
NSAC Cooperative Learning Networks are a fraction of the cost of travel and attendance fees for other high-priced conferences or seminars.

A members only PODcast archive of this seminar is now available. Click here to order!

Basic Cooperative Footnotes and Financial Disclosure
Date: Thursday, October 23, 2008
Time: 11:00 AM ET / 10:00 AM CT / 09:00 AM MT / 08:00 AM PT [Prevailing Time]
Presenter(s): Clay Worden, CPA with McGladrey & Pullen
Objective: The objective of this CLN is to assist Cooperatives with the task of ensuring proper disclosures in their financial statements. A great deal of time and effort is put into properly recording and reporting on the financial results for most organizations. But is the same attention to detail spent on the footnotes and financial disclosure? Or do you just expect your auditing firm to handle that aspect of the financial statements?
Field of Study: Accounting
Program Level: Basic
CPE Credit: 1 Credit Hour

No advanced preparation or prerequisites are required for this course.

Course Description
Generally, controls that are relevant to an audit of financial statements are those that pertain to the entity’s objective of reliable financial reporting. In the Statement on Auditing Standards 112 (SAS 112) the term financial reporting relates to the preparation of reliable financial statements that are fairly presented in conformity with generally accepted accounting principles.

This CLN will assist you in identifying those areas that require financial disclosure in conformity with generally accepted accounting principles.

Those responsible for overseeing the financial reporting and disclosure process will find this CLN both educational and practical. The goal is not to develop experts in financial reporting but rather to create awareness of common deficiencies in the financial reporting process and to develop a set of skills and tools that will assist in preparing comprehensive footnotes and financial disclosure in accordance with generally accepted accounting principles.

Presenter Bio(s)
Clay Worden, CPA with McGladrey & Pullen

For more information regarding this series or administrative policies such as complaint and refund, please contact the NSAC National offices, 136 S. Keowee St., Dayton, OH 45402, 937-222-6707, email: info@nsacoop.org