2 CPE In this Balance Sheet Tour, we review several “less travelled”, yet very important, balance sheet categories, including some terms that you have heard about, but might not quite know how they work. This course goes above and beyond what textbooks would provide you, by addressing concepts, definitions, and journal entries, as well as practical use. Many of the course sections feature multiple real-life examples of well-known companies, both illustrating the terms and relating the financial terms to a company’s business model and “financial footprint”.
The balance sheet, or statement of financial position, is an overview of what a company owns and owes at a point in time. Some areas of the balance sheet get a lot of attention in business discussions, especially when they relate strongly to the company’s cash flow performance. There are other areas on the balance sheet that are less explored territory. These should become common terms that every finance professional has a thorough understanding of! After taking the Balance Sheet Tour, terms like capital expenditures (CapEx), goodwill, intangibles, accruals, pre-paids and deferrals will make sense to you. Also covered are: prepaid expenses, accumulated depreciation, intangible assets, deferred tax assets, deferred tax liabilities, deferred revenue, retained earnings, treasury stock
Philip de Vroe, The Finance Storyteller, is your guide on this insightful tour of the balance sheet.
Learning Objectives
- Explore balance sheet terminology such as capital expenditures (CapEx), goodwill, intangibles, accruals, prepaid expenses and deferrals
- Identify Capital Expenditures (CapEx) and Operating Expenditures (OpEx)
- Discover how deferred tax assets and deferred tax liabilities work
- Discover how goodwill and intangible assets are created
- Recognize how treasury stock and retained earnings impact equity
Last updated/reviewed: August 4, 2023
329 Reviews (1622 ratings)
Reviews
Anonymous
(Payroll Director)
Very detailed from the perspective of a person without an accounting degree.
Anonymous
(VP, WFM and BusTech)
An excellent refresher course, particularly for those that may not live in this space on a day-to-day basis. The instructor was engaging and he highlighted many real-world examples throughout the presentation; however, the supporting materials were somewhat busy and occasionally challenging to follow. Nonetheless, the content was informative and relevant. I'd recommend this course for others as a refresher!
Anonymous
(Assistant Controller)
This was a great course with very understandable explanations of complex concepts. One issue: I don't believe that the "matching principle" is mentioned any where in US GAAP, however it is held out as the reason for accrual accounting in this course. I believe that an accrual is recorded to correctly depict liabilities at a point in time, as opposed to matching expenses to revenues.
Anonymous
(Manager)
Balance Sheet Tour course offers a straightforward journey through financial fundamentals. Critics argue it lacks depth for advanced learners but praise its accessibility for beginners. The course simplifies complex concepts, making them easy to grasp. While it may not satisfy all levels of expertise, it is an excellent starting point for those new to understanding balance sheets.
Lorri Jongeneel
(CPA at n/a)
This is a pretty good course! Since this is my first course with illumeo, I am reserving four and five stars for outstanding efforts. There are a few concepts where the comprehension was missed or unclear and could be improved upon and updated in order to capture those points. Otherwise, so far, I'm impressed with the straightforward and attempts at comprehensive learning.
Anonymous
(Financial Analyst)
I find this course very helpful for me. I liked that the information is presented schematic and still to include the most important aspects about each topic. I was very glad that it contains many examples, because for me this is the easiest way to assimilate information. This course is useful for anyone who wants to learn and practice accounting.
Anonymous
(Auditor)
this course does a great job explaining some of the non-traditional accounts that can be found on the balance sheet. The review of deferred tax assets and deferred tax liabilities was very well explained for a concept that can be confusing to some people. i would recommend this course to anyone who needs to brush up on these accounts.
Anonymous
(CFO)
Really good course that provides a simple and effective overview of key balance sheet concepts that we forget about if we are not doing these types of journal entries on a daily basis. Instructor knows his stuff and is qutie clear on the concepts. Course materials are relevant and helpful. Enjoyable!
Anonymous
(Senior Accountant)
It was a good course to review some of the "tricky" parts of the balance sheet. Conceptually, it is helpful to re-tread things such as "Accum Dep'n is not the same as a liability, and here's why". Also the equity portion is good to see since that's not something you deal with every day.
Michelle Leu
(Financial Analysis Advisor at Cigna Medical Group)
Solid review of core balance sheet principles -- prepaid expenses, intangible assets, deferred tax assets and liabilities, accruals, retained earnings, etc. None of the subjects covered should be new to an accountant, but they could add depth of understanding to a financial analyst.
Anonymous
(Division Controller)
Quick refresher course on the fundamentals of the BS. It did discuss the IS to discuss RE. Really great for CPE but not helpful if you are looking for further knowledge. This would be great to review before watching more advanced dives into specific accounts or principals.
Bernhard Sauer
(Exec. Dir, Finance at MSD)
The course in general was very good and included a lot of practical examples that made the theoretical concepts come to life, i would recommend the speaker to deliver the course in a much slower pace as he was talking way to fast. The course should be at least 2 hours.
Anonymous
(Regulatory Auditor)
I like how the instructor defined each topic and used real world examples to teach the subject. The journal entries were very helpful and the explanations of how transactions affected the balance sheet and income statement was practical and useful. Great job!
Kacee Waters
(N/A at N/A)
Good review for CPA's who have been out of practice. I have been stay at home mom for almost 19years. This review was great! Some topics basic and some are a good refresher.
Was a little confused on if this followed GAAP or IFAS at first.
Thank you.
Lisa Hylton
(Controller at Axcel Capital LLC)
Excellent course. This course was a great refresher. I have not worked on active companies in a long time. So going through this course enabled me to brush on many concepts that I have not worked with in a long time. Plus it was super easy to understand.
Anonymous
()
Excellent content. It was directly related to my test. This course really did a good job at getting to the meat and potatoes of the content.
The content, context, and multiple modes of representation they provide is highly effective and enjoyable!
Anonymous
(Payroll Analyst)
The is a very informative course. The way in which the concepts are presented is helpful and it is easy to understand. The instructor was engaging and was able to keep this interesting. This course could be useful across many levels of an organization.
Thomas Simkiss
(Director of Cloud Solutions at Creoal Consulting)
This is a great course for beginners or advanced users looking for a quick brush up. Materials were clean and easy to understand and the real world examples did exactly what they are supposed to do - clarify a point beyond just a text book example.
Anonymous
(Senior Internal Auditor)
This course was a refresher. The instructor was effective in communicating the various topic within the course materials, however, several supporting materials were missing from the presentation slides.The time allotted for the course was sufficient.
Anonymous
(Controller)
I expected this class to be a basic balance sheet tour, but it was surprisingly refreshing. Great course. The instructor provided multiple real-world examples that were challenging and informative. I look forward to more courses from this instructor.
Anonymous
()
Very thorough materials to the course and a great refresher on more obscure areas of the balance sheet that don't get touched in regular day-to-day processes. The instructor was awesome, rightfully earning his nickname of "The Financial Storyteller".
Carolin Haehre
(Controlling Analyst at Novelis)
This course helps to understand the meaning of many balance sheet positions and gives good insight into daily business examples. Unfortunately it was not 100% understandable for me and sometimes I wished to see more slights with explanations.
Anonymous
()
I liked that this course included real world financial statement comparisons and analysis. Looking at their balance sheets and ratio comparisons also helped to see some differences between companies and emphasized the importance of ratios.
Anonymous
(Accounting Manager)
Great high-level overview and refresher course. This is especially good for people that are 'siloed' in their accounting work responsibilities from day-to-day and don't actually get the opportunity of exposure to the entire balance sheet.
Eugene Rura
(Manager Finance at Saputo DF USA)
Very good refresher in the style "lets go back to basics", spanning from things that everyone knows to some very tricky ones that will bring memories of studying for the exam. Highly recommend to refresh the love affair with accounting :)
Anonymous
(Financial Analyst)
This course was a really great refresher on the balance sheet. In addition to being generally informative, the fact that real world examples were used, showing the impact to both sides of the transaction, added to the value.
Robert Stellato
( at DS Smith)
niiiiiiiiiice very excellent course.. so much interesting material although I have never heard of taking an impairment charge on a deferred tax liability.. that was a review question correct answer. Did I read that wrong?
Anonymous
()
This course was very informative and showed each of the parts of the balance sheet that are not as common as the beginning accountant might understand. It provided great examples to help lock in the information presented.
Natalia Lippold
(Certified Payroll Professional at Trivantus, Inc.)
The relatively short course segments made each idea easier to follow, and the examples made the concepts easy to understand. This instructor delivered the lesson extremely well and made it easy to understand. Thank you!
Lauren Bauer
(Accounting Manager at Signature Analytics)
The instructor gave great real-life examples of how these balance sheet accounts are used. He provided explanations for many balance sheet accounts, but his explanations were thorough and understandable. Good course!
Anonymous
(Controller)
The instructor provided a good overview of key balance sheet categories. The examples provided of real companies was helpful. The instructor did a great job of reviewing the journal entries recorded for each topic.
Anonymous
(CFO)
Good refresher course and good Introduction course for teaching inexperienced accountants some common and not so common accounting concepts. The instructor provides many real world examples which is very helpful.
Anonymous
(Director of Accounting)
This is great course to get to the basics of a balance sheet and its concepts. I like how the instructor does the narration in terms of a story and providing current company examples to understand the concepts.
Anonymous
(Director of Accounting)
Great detailed examples for how the impacts of deferrals and other topics are expressed in the financials - not only on the balance sheet but on cash flow, impactful presentation for non-accounting management.
Nafisah Fudaeel
(Owner at Tax Roadmap)
This course was a refresher for me since I do not prepare financial statements. It was a entertaining presentation. I like the visuals especially since I am a visual learner. These were very helpful to me.
Lilian Dendrinos
(consultant at DLC Group)
I think the class crammed too much into one course. For a basic class, some of the items in the class may be too advanced. Perhaps the class can be broken up into 3 classes; assets, liabilities and equity.
Lori Kulp
( at HRP Hitesh CPA)
The course covered the interjacencies of how different types of transactions are recorded on the balance sheet and how they effect the company's financial health. A good course for those in cost accounting
Anonymous
(Senior Regional Accountant)
Really good course for entry level accountants to learn essential parts of financial statements. The most interesting section in my opinion was the "Treasury Stock and Share Buyback Accounting" section.
Anonymous
(OWNER)
The manner of presentation was good and kept interest up. My only complaint was when I tried to look at the slides afterwards some of the information was not present as it was verbally discussed instead
Anonymous
(Senior Accountant)
Great and clear overview of balance sheet accounts, reinforced things I knew and brought more clarity to areas I was less familiar with -- excellent explanation and walkthrough of concepts / principles
Anonymous
(Treasury Director)
Great course. Excellent instructor who was easy to understand and gave clear examples to illustrate the concepts. Especially enjoyed the real-life company examples that supplemented the course.
Sherman Bamford
(Accountant at Carilion Clinic)
A very enjoyable approach that explained complexities with easy to remember examples and analogies. Useful summary of balance sheet concepts. Cloud based software section may need to be updated
Vickie Jackson
(Accounting Manager at NewStar Sourcing and Service)
Well presented course with a lot of information and real life examples. Some areas seemed to move too fast. Could have been broken into two 1 hour courses with more time spent on explanations.
Anonymous
(Advisor)
I really enjoyed all of the real world examples in this course, it helped cement the information. I did wish that the slides were a bit more substantive so I did not have to take separate notes.
Sharon King
(Contractor at Self employed)
This course was a good introduction to deferred tax asset and deferred tax liability. I would definitely take another course for a deeper dive on recording these transactions to the financials.
Rodney Troyer
( at Wayne Garage Door)
Most of this course was straight-forward. I was primarily interested in the stock buyback and treasury stock sections, but needed a brush-up on deferred tax assets and liabilities as well.
Kylie Coker
(Senior Technical Accountant at Novelis, Inc.)
This is a great overview with detailed examples of balance sheet accounts. I will be recommending it to the global accounting organization at my company for all our accountants to view.
Anonymous
()
Broad enough to cover the full balance sheet, but detailed enough to be informative. Tax and equity sections are very helpful to those that do not focus on those areas regularly.
Anonymous
(Transaction Advisory)
I really thought this course was a great high-level overview of the balance sheet, especially some nuanced areas that are not commonly covered in basic accounting courses.
Kylie Roeberg
( at Embark)
The instructor provided many real life examples that make the course material much more interesting and applicable. Covers high level review of many balance sheet items.
Anonymous
(Property Accounting Manager)
I love the colorful slides provided; it was unique from the other classes offered. I also enjoyed very much the analysis of the different companies' balance sheets.
Tiffany Miller
( at ADP)
This is a tough but good way to refresh your knowledge. I always recommend taking the quizzes to know where you are. But this was a great course and very thorough.
Anonymous
()
The course was explained with several practical examples. The presentation material included T accounts which made it easy to understand the flow of journal entries.
John Ball
(controller at CPP)
this a good refresher on some key areas of balance sheet accounting with some excellent examples comprising balance sheet extracts from well known public companies
Anonymous
()
Slides have lots of graphics and are properly used to enhance the lecture. Sometimes they can even feel a touch overwhelming, but are good for keeping attention.
Anonymous
()
This course was a great refresher. I especially benefitted from the Contra Account, Accumulated Depreciation, and Deferred Tax Liabilities segments of the course.
Robert Nelson
(VP, Accounting at Routeware, Inc.)
Great content on balance sheet including contra accounts. It went into depth on equity accountings such as the re-issuance of treasury stock which I enjoyed
James Chuang
(Compliance Specialist at Silverton Casino Hotel)
Fantastic coverage of the main components of the balance sheet and how they are typically affected as well as how they relate to one another, as applicable.
Anonymous
(Controller)
Great visual slides to explain concepts. Made it pretty simple to understand. HIghly recommend this instructor for his no nonsense way of explaining things.
Lisa Lavery
(Close & Consolidations Senior Manage.. at Cisco Systems)
This is a good class for beginners. I like the detail on the taxes because its a weak area of mine as i am not familiar with calculation of deferred taxes.
Anonymous
(Auditor)
The storyteller uses graphics to help you understand the concepts. I highly recommend this course for an overview of the key financial reporting concepts.
Bob Phipps
( at R.W. Phipps, PA)
i enjoyed the CAPEX and OPEX discussions as they seem to be the new terms in the business world. Good explanation of the purchase allocation of companies
Anonymous
()
very challenging course but important to review in order to understand deferred expenses, prepaid expenses, intangible assets, and capital expenditures.
Jennifer Rodriguez
( at Root Organization)
Good overall review of the balance sheet. I learned about acquisitions and treasury stocks, as I've never had to deal with these scenarios personally.
Anonymous
()
This is a basic course but covers a lot of material. It uses real life examples to help explain tougher concepts. It is a good high level overview.
Anonymous
(CPA)
This course was informative. I like that it was short, and I really like to option to read the PDF document as an alternative to watching the videos.
Anonymous
(Associate Director)
Great overview of the balance sheet accounts and he goes into some accounts that are not normally utilized (e.g., treasury stock). Great training.
Anonymous
(Senior Accountant)
The course was very interesting and a good refresher. The instructor provided a great number of examples making the information easy to grasp.
Editha Mendoza
(Director at Equitable)
This course has provided insight on balance sheet items most often overlooked at but is a vital part of the whole financial statement process.
Jamie Westphal
(Senior Accountant IV at GHX, Inc)
This was a great refresher on accounting basics. The presenter laid out everything in a very clear way that was easy to understand and retain.
Mahira Sheikh
(Accounting Manager at DLC Group)
Great reminder of the basics of balance sheets. Some new topics to learn but mostly a refreshing course to apply to everyday accountants.
Dinita Wilbourn
( at Turnitin, LLC)
This is a good overview of the balance sheet. It covers topics like deferred tax assets ad liabilties, deferred revenue, retained earnings.
Anonymous
(CFO)
Brief tutorial to remind you of what is on the balance sheet and how they interact. Good reminder on deferred tax assets and liabilities.
Anonymous
(CPA)
The course is very extensive and the author explains very well. The powerpoint slide is also interactive. Overall a nice refresher course.
Anonymous
(Associate)
Nice refresher on the balance sheet. I was a bit rusty on equity but the presentation did a good job with the examples and presentation.
Anonymous
(Accounting Manager)
The presenter was great. He took hard to understand topics and broke them down and explained them in an easy to understand way. Great!
Brett Lucy
( at Capital Southwest Corporation)
Wide and encompassing overview of the balance sheet and a good reminder on some of the more nuanced areas (DTL/A, Treasury Stock, etc.).
Anonymous
()
Good overview of prepaids, DTA/DTL, intangibles, and other aspects of the balance sheet that are often treated as lower-priority items.
John Filbert
(Consultant at DLC Group)
Great balance sheet overview. The sections that review deferred tax assets and liabilities was particularly helpful. Highly recommend.
Anonymous
()
It has been a very long time since I had an accounting class. The presentations seemed to speed through and it was difficult to follow.
Sean Flynn
(Accounting Manager at Rosemawr Management)
Good course on transactions taking place on the Balance Sheet you might not have seen in some time depending on your role or industry.
Matthew Topper
(CFO at Meals-on-Wheels Greater San Diego, Inc.)
Real world examples were helpful and interesting. The T accounting examples were also useful and aided in retention of the concepts.
Iskandar Rahim
( at Visa)
Great refresher on accounting concepts for professionals. In depth understanding on treasury stocks and concepts of Deferred Taxes.
Brad Sweetser
(Finance and Accounting Consultant at DLC Group)
Really enjoyed the practical sense that the course was taught in referencing to SEC filed documents for large Fortune 500 companies.
Anonymous
(Controller)
Good basic review of the balance sheet. Basic items are briefly explained while more complex items are presented through examples.
Lisa Brzezinski
(Director of FInance at Aspirus)
I found the tour a good review of the Balance Sheet. The instructor was easy to follow and was very knowagable about the material.
Paul Krieg
(Head of FP&A at Computershare)
Helpful overview of the topic. Not as much a detailed explanation of nuanced points, but good overview of the total balance sheet
Stephen Sylvester
(Freelance Writer at Private)
Fantastic and extremely clear instruction. A high-level overview, but with more "meat on the bone" than many comparable courses.
Susan Cypert
(Accounting Position at Currently Seeking)
Some of the questions on the final were very confusing and the videos did not offer a clear understanding of the examples given.
Andres Galdo
( at Vitol Inc)
The course is very technical and will help you get a better understanding of the balance sheet accounts that are not as common.
Anonymous
(CPA)
Enjoyable presentation with many practical examples of journal entries used to illustrate the concepts. Very effective lecture.
Tyler Ellens
(Staff Acountant at Evenhouse & Co. P.C.)
Lots of information and detailed examples that clearly explain each topic and demonstrate how it applys to real-world accounting
Anonymous
(VP of Accounting)
Very good reminder of all the balance sheet items including prepaid, CapEx, contra Accounts, deferred Tax assets and liabilites
Gene Cenotto
(Sr. Accounting Analyst at WA)
The instructor was very knowledgeable and covered a lot of information. The supporting documentation was very helpful as well.
Nicole Cunnea
(Implementation consultant at ADP)
Enjoyed the course more than I thought I would. NIce overview with dips into the more frequently occuring blance sheet items.
Anonymous
(Controller)
Great balance sheet overview. Was helpful for some lesser used account refreshers like deferred taxes and equity transactions
Carlos Segura
(ACCOUNTANT at BOUNDS HEATING & AIR)
I enjoyed the pace of the instructor. The information was explained in various ways to help drive home the point. Great CPE.
Lisa Cooksey-Cannon
(Sr. Accountant at Charter Communications)
Great overview of the Balance Sheet. The Treasury Stock presentation and the Balance Sheet Comparison were most helpful to me.
Anonymous
(Accountant)
Although this course was presented very quickly, it was a good high-level overview of different parts of the balance sheet.
Anonymous
(Head of IFRS Department)
Very simple course, to be honest non interesting for me. I would expect more complicated material when read the description.
Rachel Fischer
(CFO at Odney)
Great overview of several courses I took in college. I liked the instructor's examples for some of the more abstract topics.
Anonymous
(Director of Finance)
Some of the subjects were more basic than others but I enjoyed the refresher on deferred tax assets/liabilities and equity
Anonymous
(Director, Governance)
Overall good review course that offers a refresher for those that do not spend a lot of time looking at the balance sheet.
Anonymous
(Finance executive)
Very basic overview of the balance sheet line items. Most appropriate for someone with no or limited accounting knowledge
Anonymous
(Audit Director)
Covered lots of topics important to a more difficult concept in accounting. These concepts need particular extra practice.
Anonymous
()
Good overview of balance sheet items of companies, and their relationship to income statement, retained earning statement.
Anonymous
(Sr. Accounting Manager)
Great teaching skills, he makes it very clear and easy to understand even though some of this material is pretty complex.
bruce quayle
(accountant at Charter Communications)
Course is very well organized and covers a great deal of material. Really enjoyed the videos which are very informative.
Anonymous
(Private Equity Accountant)
Course was very educational but could be dry at parts. Maybe something could be added to make it a little more gripping.
Anonymous
()
Overall a great course. Philip made this course very entertaining compared to other CPE courses I have taken in the past
Michael DeVito
( at Dassualt Falcon Jet)
The illustrations and storytelling style were a nice break from the format of most other courses. Made it more engaging.
Anonymous
(Senior Accountant)
Excellent material & well presented. Actual case studies very helpful. One negative only … presenter spoke too fast.
scott pierce
(CFO at Front Burner Brands)
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Locksley Simmons
( at Merrill Lynch)
A good little review of some things you rarely work with. I can't think of the last time I worked on treasury stock.
Dhaval Kadakia
(Director of Sales at JRC Conventions & Trade Fairs)
Amazing Presentation and I liked the real life examples, very few are able to give most recent real life examples...
Sandra Cave
(Accountant at N/A)
Enjoyable course. It was nice to review accounts that I no longer work with and gain knowledge I can apply at work.
Anonymous
(Controller)
The course covered the topics as described. The instructor was thorough and I appreciated the real world examples.
Anonymous
(Payroll Coordinator)
This was very helpful to me. The instructor was very knowledgeable and the examples were very clear and concise.
Anonymous
(Audit Project Manager)
The instructor and the examples he gave for each lesson were relevant and easy to follow. Great refresher course!
Anonymous
()
The use of real-life and personal examples really enhanced the course. I enjoyed the instructor's candor as well.
Anonymous
(Cpa)
good little course to take slides are amusing, presenter gets to the heart of topic quickly and has good examples
Anonymous
(CSR)
This is a great class for an overview of the balance sheet succinctly presented, but yet very clear and helpful.
Inna Shmukler
(Controller at Fornetix LLC)
Very informative course and very well presented. Lots of information delivered in a very easy to understand way.
Jacklyn Collins
( at Jacklyn Collins)
very well done. Made the subject matter understandable. Examples help with the learning and recall of the items.
Todd Williamson
( at CPChem)
This course was all meat and potatoes. Provided a great review from my days sitting through accounting classes.
Thomas Cooper
( at Thomas D Cooper)
Good comprehensive course. A lot of material for one course. May have been better to break into shorter pieces
Anonymous
(Internal Auditor)
A great way to remember the basics of accounting. The author explains in detail, gives many necessary examples.
Anonymous
(Finance Manager)
This is a great course about general accounting concepts related to the balance sheet. Would highly recommend.
Staci Brown
(Director of Finance at Cair Paravel Latin School)
The slides for this course are really busy, so it makes it a bit hard to follow. They need to be toned down.
Anonymous
()
I did not like the pace of the course. Instructors delivery was very bland, not much inflection in voice, etc.
Terri Tindall
(Client Accounting Specialist at Postlethwaite & Netterville)
This presentation was well done by a knowledgeable presenter. It was a great review for items not often used.
Anonymous
(Controller)
Great course offering high-level balance sheet tour touching on key balance sheet accounts. Highly recommend.
Anonymous
(HR Director)
I do not have a lot of experience with balance sheets, so this course was a great way to gain some knowledge
Anonymous
(Senior Payroll Specialist)
This course would be helpful for Accounting personnel. It goes into more depth about balance sheet methods.
Sean Searley
( at Sean Searley)
Lots of good info here on issues I don't deal with much, still good to be able to speak to them when asked.
Anonymous
()
Lots of information covered in a short amount of time. Great instructor, but be prepared to move quickly!
Jack Brown
(Consultant at JB Consulting LLC)
Good course. Solid overview of balance sheet material. Test questions aligned with slides. Informative.
Ashton Williams
(Controller at Codaray Construction, LLC)
This is a great course for those who are unfamiliar with some of the trickier areas of the balance sheet.
Deseree Ware
(ESR at ADP)
I was a good refresher to balance sheets when the last time I heard of them was in my accounting I class
Dhaval Doshi
( at JCI)
Good reinforcement of basic concepts that we don’t use in our day to day work but might use in future
Anonymous
(Finance Manager)
This was a helpful course that used the allotted time to effectively meet the stated learning objectives
Jason Mack
(VP Government Compliance at Jacobs)
Great refresher on the components of the balance sheet with real-world examples in the course material.
Marc Nakashian
( at iconectiv)
Easy review of the various Balance Sheet accounts including Assets, Liabilities and the Equity section.
Anonymous
(Controller)
I would recommend taking this course. Easy to follow and the instructor was good. Kept me interested.
Anonymous
(CFO)
One of my favorite instructors on the platform! Explanations are well thought out and easy to follow.
Anthony Sommer
(Vice President at Stout)
I thought this class was great, and included very useful information to learn about the balance sheet
Anonymous
()
Content was good. Delivery was excellent. I will probably will take other classes in the future.
Anonymous
(Business Partner - Strategic Projects)
This course provided a lot of information and provided a good overview of the balance sheet accounts
Anonymous
(Snr Accounting Consultant, CPA)
The course is such a review of the Balance Sheet and really speaks to its name "Balance Sheet Tour."
Anonymous
(Director of Credit)
Good refresher for deferrals and accruals. Lots of Good slides with reference to the subject matter.
Anonymous
(Controller)
This course had a lot of real-life examples which made the concepts easier to apply and understand.
Ross Connor
( at HVAC Incorporated)
This instructor is brief and to the point. He doesn't mess around and gets the information to you.
Anonymous
()
Very efficient refresher on core accounting knowledge. Concentrated on the most important concepts.
Anonymous
(Controller)
Balance Sheet Tour was a great refresher course. Instructor and concepts were easy to understand.
Anonymous
(Controller)
A bit difficult to understand, but the slides and examples really helped. Overall would recommend.
Anonymous
()
This was a very informative webinar! I appreciated the explanations regarding bad debt acounting.
Ashton Stegner
(Accountant at Add Source Group)
Helpful, but quick! Be prepared to have a jam-packed CPE class. This is a good course, fast paced
Anonymous
(Consultant)
The real world examples were helpful. Broad discussion of the balance sheet was a good overview.
DAN ZOU
(Payroll manager at Sinopro International Resources Inc.)
good examples of famous companies are taken and explained very well. Nice wording and phrasing.
Michael Muchortow
(CPA at Muchortow & Associates)
Presentation included many real life examples which made it more interesting and understandable.
Derek Ettinger
( at GP Fund Solutions, LLC)
Course was good, not great. Explanations were not always detailed enough to be truly insightful.
Anonymous
(Senior Consultant)
An in-depth revisitation of how deferred revenues and liabilities affect balance sheet reporting
James Shelton
( at CPA)
Good breakdown of Treasury Stock and Tax Deferral accounting implications for the Balance Sheet.
Anonymous
(Senior Lean Development Officer)
Nicely challenging course - reviews basics required to meet standards and industry expectations
Anonymous
(Corporate Accountant)
Balance Sheet Tour is a great course. It is easy to follow and with good examples. Well done.
Anonymous
(Revenue Accountant)
Fun slides for a broad range of topics. Great introduction to topics I was unfamiliar with.
Anonymous
(CFO)
Excellent insights into balance sheet accounts and practical examples demonstrating their use.
Michael Criscione
(Accountant at Amber Road)
Course we very informative and detailed. Kept my attention, and provided some good insights.
Anonymous
(Accounting Leader)
The lesson gives a great overview of the balance sheet accounts and proper accounting entries.
Zohaib Khan
(Regulatory Auditor at CBP - Customs & Border Protectio..)
Good to go over the refresher course. It was well worth the time to go through the training.
Anonymous
(Mgr. Acct. & Rptg. - Corporate A..)
Lots to absorb here if it's not in your daily activities / experience. Good refresher course.
Syed Kazmi
(Controller at Encompass Capital Advisors LLC)
Some of the explanations are not very clear and confusing or at least not explained properly.
Greg Biedenstein
(Accountant at Charter Communications)
This was a great course that i found very ionformative on all aspects of the balance sheet.
Anonymous
()
Good refresher course on sections of the balance sheet that may not be commonly encountered.
Anonymous
(CFO)
This course brings up some good drivers, especially for deferred tax assets and liabilities.
Anonymous
(Director)
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Joe Isaacs
(Unemployed at N/A)
Mr. de Vroe is engaging and interesting. He uses real examples to demonstrate his teachings.
DAVID EDWARDS
(Sr. Accountant at Calpine)
This was a much needed refresher! I felt like I was in Accounting 101 again. Great course!
Anonymous
(Risk manager)
the course refreshed my knowledge to accounting theories, Thanks for Mr.Philip' great work.
Anonymous
()
Good content...............................................................................
arturo rodriguez
( at Aterian)
Great slides and examples. Enjoyed real world company information like Facebook and google.
Anonymous
()
exam excessively hard for a two hour course. I appreciate the extensive slide deck though.
Anonymous
(Payroll & Benefits Specialist)
The topics have been very nicely and understandable presented. I really enjoyed this class.
Krystal Graziano
(Internal Audit at Community Choice Credit Union)
The course is an overview of basic concepts with recent examples. I recommend this course.
Anonymous
(Financial Analyst)
I enjoyed learning the different portions of the balance sheet. It was very informative.
Thomas Hayes
(Clinical Associate Professor at University of Arkansas)
Well-organized and clear. Anyone teaching tax and/or financial accounting would benefit.
Anonymous
(CFO)
Very thorough explanations. Concepts are broken down for beginners to easily understand.
Vinicius Bravo Ferreira
(Senior Manager at World Fuel Services)
Good material and didactic on the course. Easy to follow, mainly the real life examples.
Anonymous
(Accounting Manager)
The is a very informative course. It was great, very detailed, and easy to understand.
Scott Anderton
(CFO at HCA)
Good basics on the balance sheet. Each section is broken up into proper timed lessons
Anonymous
(Senior Accounting Manager)
This is a great course for understanding the various components of the Balance Sheet!
Anonymous
(Accountant)
The examples and graphics were helpful in understanding the balance sheet. Thank you!
Zachary Lockhart
( at Private Business)
Some topics were too elementary but, overall, the presenter did a good job. Thank you.
Anonymous
(Payroll Consultant)
Interesting course - much to learn for a non-accountant - highly recommend for anyone
Francis Nguyen
(Controller at Zuri Furniture)
This is a great review of the balance sheet tour. It is concise and yet comprehensive.
Justin Lieberg
(Financial Reporting at Choice Bank)
Thought the course was very well set up and concepts were very well explained. Thanks!
Allen Ramsay
( at Emergent Cold)
more than a tour. highly technical exam and some questions didn't seem to be covered.
Brandon Bush
(Manager at PorterKinney)
It's really an overview of goodwill, prepaid accounts and accrual vs cash accounting.
Sealtiel Alvarez Sanchez
(Shared Service Center Manager at Aliaxis)
Recommended class about accounting which gives you a good refresher on key concepts!
Judith Poli
(Payroll Manager at Odyssey Systems Consulting)
Very good instructor really enjoyed the numerous real-life company examples provided.
Anonymous
(VP of Payoll)
I enjoyed the content and the presentation. I would recommend this course to anyone.
Taylor Muntzing
(Senior Finance Rotational Associate at Charter Communications)
I enjoyed how the course covered all sections of the Balance Sheet in great detail.
Anonymous
(Owner)
provides a solid basic understanding of accounts less considered on the balance sheet
Liam Gordon
(Dash 8 First Officer at Central Mountain Air)
Excellent summary of less well understood areas of the balance sheet. Well explained.
Richard Dodson
(Consultant at Vaco)
The session flowed very well, and the supporting documents helped immensely. Bravo!
Halina Kovel
(Sr Revenue Accountant at Yelp)
This course has a very brief but very thorough description of all main BS accounts.
Amy Lyle
( at Denbury Resources)
great class, I love taking accounting classes. The information is very interesting.
Brenda DeMott
(Accounting Supervisor at Battle Creek Public Schools)
I didn't care for all the pictures. They were distracting from the actual message.
Anonymous
(Senior Accountant)
I enjoyed the simplicity of explanation from the author. Very good course overall.
Anonymous
(Corporate Controller)
Not bad course and simple to follow. Very good review of Balance Sheet Sections.
John Clifton
(President at Owl Creek Holdings)
Good refresher on the balance sheet with some actual examples of public companies.
Anonymous
()
Great class. Deeper dive into some topics that I don't deal with on a regular basis
Brian Meister
(- at International Hillel)
Great refresher of the balance sheet. really like the way the lesson is broken up.
Anonymous
(Director)
good training for basic accounting principals. no surprises. quick to get through.
Erin McCorry
(Accounting Manager at Ascend Wellness Holdings)
Slides were easy to follow and understand, good overall tour of the balance sheet.
Anna Poselenova
( at Junior's)
This is a really good course to refresh memory. Well structured and to the point.
Anonymous
(Sr. Accounting Manager)
This section is not very helpful in real world. Please add more on CAPEX section.
Anonymous
(Finance Manager)
Beneficial course for refreshing knowledge of some of the lessor known accounts.
Anonymous
()
This course provided a real good overview of some of the balance sheet accounts
Anonymous
()
great general informational course. good reminder of basic accounting knowledge
Anonymous
(Auditor)
Simple and useful examples of more complicated B/S items; excellent instructor.
Anonymous
(Accounting Manager)
Good course, nice to have a refresher in areas that do not come up every day.
Anonymous
(Senior Accountant)
Quick refreshment for the basics , decent information, and practical example .
Louella Stover
( at On the Go Transportation, LLC)
This course was more detailed and the exam more challenging than I expected.
Anonymous
(Controller)
Some concepts covered were basic but good review of more nuanced BS accounts.
Sanjay Gaur
( at Caesars General Trading Company)
This course was very useful to review and rejuvenate the accounting concepts.
Karen Schrader
(Sr Accountant Lead at Charter Communications)
Good refresher course of the balance sheet. Enjoyed the real life examples.
Phyllis Chan
( at Golden Krust Caribbean Bakery Inc)
Great instructor. The real life examples are simple and easy to understand.
Nancy Huntsman
( at Stolle Machinery Co)
Not as easy as advertised. Took too much for granted but came away learning
Anonymous
(Senior FP&A Analyst)
Tricky course. Not the best deck to go through. I think it can be improved.
Anonymous
(Accountant)
detailed examples of corporations accounting statements. good presentation.
Mark Zaepfel
(Senior Auditor at CBP - Customs & Border Protectio..)
Good course. Made me think. A lot of this was in the cobwebs of my brain.
Anonymous
(Sr Financial Reporting Analyst)
Good overview of balance sheet effects of different types of transactions
Anonymous
(Assistant Controller)
Great examples from companies. Liked the presentation and how it was made.
Anonymous
()
Very good course thank you very much Very good course thank you very much
Ryan O'Donnell
( at Maiden Holdings, Ltd)
Great course, very helpful. Would recommend to others looking to get CPEs.
Anonymous
()
Useful reminder of some key balance sheet concepts and where to find them.
Jennifer Miller
(Senior Accountant at Bookminders)
I felt the slides were very broad & didn't include all useful inforamtion.
Anonymous
(Practice Lead)
This course provided a good review of long forgotten balance sheet topics.
Sylvia Ratliff
(internal audit consultant at self employed)
Some of the slides I found confusing; I did learn a number of new things.
Anonymous
()
Excellent review of balance sheet for novices and experienced personnel.
Anonymous
(Director Finance)
Good summary of less talked about accounts. Lots of info on the slides.
Anonymous
(Mgr., Process Excellence)
Good overview. Good coverage of topics on the asset and liability side.
Catherine Joy
(owner at Accede CPA Inc)
Very clear explanation of complex topics, good review of basic concepts.
Jose Ponce
(Senior Auditor II at CIBC US)
Great overview of rare balance sheet topics that are not often discussed
Anonymous
(Senior Auditor)
The class had many sections. It was complex but rewarding. Very intense.
Anonymous
(Corporate Development)
Fun coverage of some of more unusual and interesting accounting concepts
Anonymous
(Principal Accountant)
Easy to understand and follow. Basic concepts with real world examples.
Anonymous
()
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Anonymous
(Manager)
Good course, informative and good presentation of important information
Anonymous
(CPA)
Just writing this so that I get 50 characters in and get the CPE cert.
Anonymous
()
This was a information course but the slides were difficult to process.
Anonymous
(Controller)
Good fundamental overview of the balance sheet accounts for beginners.
Anonymous
()
Concise overview of the balance sheet, including more advanced topics.
Anonymous
(Owner)
Had a lot of information some rudimentary, but other parts interesting
Anonymous
(Senior Accountant)
I would recommend this course to any CPA working on their CPE credits.
Matthew Sloan
( at DB USA)
a bit difficult for the test but the lecture was quite fun. thank you.
Anonymous
(Consultant)
Refresher on deferred tax liability was a concise and easy to follow.
Anonymous
(Owner)
Clearly presented course. It moved along quickly with no wasted time
Anonymous
(Accountant)
Great course on balance sheet learning. Really recommend this class.
Anonymous
(Sr. Accountant)
Very thorough overview however a bit too much built into one lesson.
Anonymous
(Accountant)
clear instruction, useful information. good review for balance sheet
Anonymous
()
Made some hard topics easier to understand. Thank you for your time.
Anonymous
(Consultant)
Thank you! This is a fun and easy class that covers basic elements.
Anonymous
(Director - A/P)
Good class on many of the balance sheet accounts and their meanings
Anonymous
(Compass Consultant)
Treasury stock is hard! But this class helped break it down easily.
Anonymous
(Controller)
Great refresher course on the basics of key balance sheet accounts!
Anonymous
()
Good, I like it. It was in an overall sense Basic and substantive.
Lloyd Hughes
( at Lloyd Hughes CPA)
Well presented, easy to follow, not dull. Informative and relevant.
Anonymous
(Assistant Controller)
Great course! I like the instructor provides real-life examples.
Prashant Shah
(Manager-FP&A at jda)
Good Course on balance sheet. I recommend users to go this course.
Anonymous
()
Decent broad overview of many balance sheet subjects. Well taught.
Christopher Chomic
(Director of Finance at Advanced Plumbing Technologies)
Good viewpoint on asset versus liabilities. Good examples of each.
Eric Wolniak
( at sennder)
Good course to understand basics of balance sheet. Would recommend
Anonymous
(Owner)
I enjoyed this course and would recommend it......................
Alex Blonigan
(Consultant at DLC Group)
Good course that was a good refresher on topics and helpful....
Anonymous
(Director of Accounting)
The course was easy to follow and informational. Would recommend.
Anonymous
(Senior Assistant Controller)
Good and concise course, provides useful and relatable examples.
Anonymous
(Accountant)
Good course for balance sheet review, easy to follow and concise.
Anonymous
(CFO)
Nice basic review of the balance sheet. No prerequisites needed.
Anonymous
()
Great real world examples and a very comprehensive presentation.
David Lopez-Monroy
(Self at Self)
Good general balance sheet overview. Has some complex sections.
shun ye
(auditor at Intapp)
overall good course....i am not fully understanding stock part..
Anonymous
(Accounting Manager)
Very good refresher of the various aspects of basic accounting.
Anonymous
()
NOT WHAT I EXPECTED FOR BIBBER BUSINESS AND I DEAL WITH SMALLER
Anonymous
(CFO)
Nice overview and reminder of some core accounting information.
Michelle Vass
( at Peloton)
This was a good class and informative. I will use it for work.
Thomas Tyra
(Director at Graphite Financial)
Very basic review, but some reminders on less-frequent topics.
Chris Fameree
( at Diligence Solutions Group, LLC)
Nice simple overview of the balance sheet. Solid refresher.
Anonymous
(Senior Accountant)
Detailed refresher on the balance sheet. Lots of information.
Anonymous
(Senior Human Resources Systems Analyst)
Alot of information to intake! Very knowledgeable instructor.
Anonymous
()
pretty decent. thank you for the course. It was pretty good.
Angela Hager
( at MG2 Corporation)
For non-accountants, this was too much info to be tested on.
Patty Holley
( at HOLLEY FINANCIAL)
The syllabus is a bit simple, but I got all the info I needed
Anonymous
(Senior Manager)
Good review of various balance sheet accounts and operations.
Anonymous
()
it was an easy course and good refresher of the balance sheet
Anonymous
()
Good overall course to review components of the Balance Sheet
Anonymous
(Controller)
Good revision of fundamentals. Very simple and comprehensive
Anonymous
(Principal)
instructor provided a good refresher on balance sheet topics
Anonymous
()
This course was a nice refresher on all things balance sheet
Corey Masters
(Accountant, Internal Auditor, Risk Speci.. at Self)
A good review of the balance sheet. Many helpful insights.
Anonymous
(Payroll and Benefits Manager)
Thank you very good overview. Will definitely recommend.
Anonymous
()
interesting course overall regarding balance sheet accounts
Anonymous
(Managing Director)
This course is a great refresher on the Balance sheet tour.
William Barron
(Auditor Examiner at Georgia Department of Revenue)
Excellent, comprehensive review of balance sheet concepts.
Anonymous
()
ok! great course! materials are very good, great teacher!
Denise Cutrone
( at Denise Cutrone Advisors)
Love the story telling and humor; makes it easier to learn
Anonymous
()
Information was presented efficiently and informatively.
Anonymous
()
Great course of balance sheet tour which add value to me
Anonymous
(Senior Revenue Manager)
I enjoyed this course, and I found it very informative.
Ryan Vandermus
( at Argos Family Office, LLC)
really good, quick overview of lesser travelled accounts
Anonymous
()
Conside and interesting presentation of the information.
Anonymous
(Accountant)
Good course. Clear and on point instructional materials.
Roger Brugger
(CEO at Visions Africa Ltd)
The course is insightful, i got to learn a lot from it.
Anonymous
()
This course was very informative. Lots of information.
Anonymous
(Controller)
Informative and Engaging CPE Course, Highly Recommended
Anonymous
()
Course was what it was supposed to be, dry and tedious.
Anonymous
()
The questions were not worded correctly, poor grammar.
Anonymous
(Director)
Great topic that is still relevant and is foundational
Anonymous
(Assistant Controller)
Great review of the balance sheet and its components.
Anonymous
()
Very interesting course with lots of good information
Scott MacDonald, CPA, MBA
View Instructor Profile
Some question wording is a little tough to follow.
Anonymous
(Bonding Manager)
Excellent succinct course with real world examples.
Anonymous
(Director)
Detailed explanation of the balance sheet accounts.
MERSEDEH BASSARI
(Controller at Talitrix llc)
we need a complete course on treasury stock and EPS
Muhammad Baig
(Managing Director at N/A)
A decent amount of information in a concise manner.
Anonymous
()
Lots of topics covered in a very well done manner.
Erika Alpiste
( at ADP)
Very helpful and insightful into the balance sheet
Mike Alexander
(Product Marketing Specialist at Illumeo)
good
Prerequisites
Course Complexity: Intermediate
No advanced preparation or prerequisites are required for this course.
Education Provider Information
Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA
95113
Contact:
For more information regarding this course, including complaint and
cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to
.
Course Questions and Answers(4 Questions)
Philip de VroeFinance Storyteller
About Illumeo
Platform
Resources
Contact Us
- Email: info@illumeo.com
- Phone: 408-400-3993
- Adress: 1608 W Campbell
- Av #221, Campbell, CA 95008
© 2024 Illumeo, Inc.
What is the date that this class was published? Is goodwill still not amortized under GAAP? Is it amortized under IFRS?
We published the "Balance Sheet Tour" on the illumeo site in March 2018, and the goodwill video that is part of it was researched and written in March 2017.
Under US GAAP and IFRS, goodwill is never amortized. Instead, management is responsible for valuing goodwill every year and to determine if an impairment is required. If the fair market value goes below historical cost, an impairment must be recorded to bring it down to its fair market value. See FASB statement 142 (issued in June 2001).
I do remember the days when goodwill was amortized over a period of maximum 40 years, back when I joined a large multinational company in the 90s. When the rules changed from yearly amortization of goodwill to annual impairment test (US GAAP 2001, IFRS 2005), companies that had done or were planning to do acquisitions involving significant goodwill were (obviously) relieved as that was no longer a drag on earnings. Goodwill impairments (if they occur) are generally represented as one-off, recurring, non-cash write-offs. Still painful, but "framed" as an unusual item.
Please note that other intangible assets that occur during an acquisition (trade names, etc., see the intangible assets video) are subject to amortization over the useful life of the assets. However, if companies focus mostly on EBITDA, then that amortization charge is outside their main performance metric.
After completing a couple of other courses - I wish I could go back to improve my rating, here! I would like to continue taking courses presented by this instructor!
Thank you so much, Lorri! That is a wonderful compliment. I have 5 courses in total on illumeo that cover a wide variety of topics, so you have 4 to go! ;-)