Classification, Debt and Equity (CPA)

Estimated Time: 3.5 hours


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This course is #5 in the 8 - course series on Financial Reporting and Analysis offered by PRATTedu. It is comprised of 6 videos, begins by discussing the concept of classification and its important role on the financial statements, and then moves into coverage of the company’s two primary forms of financing: debt and equity. The financial statements and the footnotes of the companies featured in this course include General Motors, Volkswagen (an IFRS user), Amazon, Home Depot and Panera. Course Type: Video. Worth 4.5 Technical CPE Credits (CPA/NASBA).


4.5 CPE Credits
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Learning Objectives

  • Describe the key measurement issues addressed by the financial statements and explain how the current classification is used
  • Define the concept of a contingent liability and explain how contingencies are accounted for
  • Define what a bond is and explain how bond issuances are accounted for using the effective interest method
  • Explain how the effective interest method is used to account for bond investments and describe how management's intention determines how changes in bond market values are accounted for
  • Describe the difference between short-term and long-term (financing and operating) leases and how both kinds of leases are reflected on the financial statements of the lessee
  • Summarize the shareholders' equity section of the balance sheet and describe the transactions leading to each line item within that section

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Field of Study: Accounting - Prerequisites & Advanced Preparation: None - CPE Credit Type: Technical - Delivery Method: QAS Self Study - For more information regarding administrative policies such as complaint and refund, please contact our Customer Success team at or visit our Help webpage.

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CPA: VTR 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 submitted to the National Registry of CPE Sponsors through its website: This program is valid for 4.5 CPEs.