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Author: Steven C. Fustolo, CPA
Description:
FAS 161, Disclosures about Derivative Instruments and Hedging Activities (an amendment of FASB Statement No. 133), expands the disclosures required in FAS 133, Accounting for Derivative Instruments and Hedging Activities, which addresses the disclosures required for derivative instruments and for hedging activities.
The objective of FAS 161 is to provide users of financial statements with an expanded understanding of how and why an entity uses derivatives; how derivatives and related hedged items are accounted for under FAS 133; and how derivatives and related hedged items affect an entity's financial position, financial performance, and cash flows
This course will provide the user with the background, scope, and rules of FAS 161, as well as examples of disclosures.
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Course Details:
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Price: $32.00
Field of Study: Accounting
Prerequisites: General understanding of derivative instruments.
Level: Overview
Advanced Preparation: None
CTEC course number: 1075-CE-5653
Course was last updated on: 07/02/09
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Library:
Learning Center Core
Accounting and Audit
Technical Requirements:
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| Credit Available For: |
Units |
| CPE |
2.0 CPE |
| QAS |
2.0 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.
CCH has been approved by the California Tax Education Council to offer courses that provide federal and state credit towards the annual "continuing education" requirement imposed by the State of California. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, toll-free by phone at (877) 850-2832, or on the Internet at www.ctec.org.
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