In this lesson, the focus is on understanding subsequent events and their importance in the context of historical financial statements. Nick Palazzolo, CPA, explains that subsequent events are events or transactions that occur after the balance sheet date but before the issuance of financial statements. These events, if material, may require adjustments or disclosures in the financial statements. The lesson walks through how to handle such events and their potential impact on the year being audited.
Lesson: Introduction to Subsequent Events
Instructor: Nick Palazzolo
In this lesson, the focus is on understanding subsequent events and their importance in the context of historical financial statements. Nick Palazzolo, CPA, explains that subsequent events are events or transactions that occur after the balance sheet date but before the issuance of financial statements. These events, if material, may require adjustments or disclosures in the financial statements. The lesson walks through how to handle such events and their potential impact on the year being audited.
Updated: June 22, 2023 Create an account
Create an account
7-day free trial. No credit card required.
Engagement Planning, Understanding an Entity, & Understanding its Internal Control
Module:
2 Concepts,
36 Lessons
Going Concern
8:46
Accounting Estimates
4:02
Pending Litigation
4:52
Accounting Changes
19:21
