Accounting for the Unexpected - A Guide to Subsequent Events
Author: Kelen Camehl
| CPE Credit: |
2 hours for CPAs |
This course provides CPAs with a practical and focused examination of subsequent events under U.S. GAAP. It explains the distinction between recognized subsequent events and nonrecognized subsequent events, outlines the financial reporting and disclosure requirements, and covers the key considerations for evaluating the impact of post-balance-sheet developments. The course also addresses management responsibilities, audit implications, and examples of common subsequent events.
Publication Date: April 2026
Topics Covered
- Authoritative Guidance
- Timeliness
- Different Entities & Requirements
- Types of Subsequent Events
- Recognized Subsequent Events
- Nonrecognized Subsequent Events
- Identifying Subsequent Events
- Potential Controls
- Audit Consideratoins Related to Subsequent Events
- Special Topics
Learning Objectives
- Identify the key characteristics and timing of subsequent events under ASC 855
- Differentiate between recognized and nonrecognized subsequent events
- Determine when financial statement adjustments are required versus disclosure
- Recognize common examples of subsequent events and their typical accounting treatment
- Recognize audit procedures and documentation requirements related to subsequent events
Level
Overview
Instructional Method
Self-Study
NASBA Field of Study
Accounting (2 hours)
Program Prerequisites
None
Advance Preparation
None
