CCH Learning Center

Balance Sheet Classification: GAAP Level A (Second Edition)

Courses in the GAAP Level A series analyze authoritative GAAP literature contained in level A of the GAAP hierarchy, established by Statement of Auditing Standards No. 69. Pronouncements in this level include FASB Statements and Interpretations, as well as APB Opinions and Accounting Research Bulletins.

This course will review some of the authoritative literature impacting balance sheet classification.

Topics covered include:

• basic definitions
• receivables
• cash surrender value of life insurance
• liability classification issues
• compensated absences
• offsetting assets and liabilities
• offsetting in repurchase and reverse repurchase agreements
• liabilities and equity
• disclosure standards