Course 6 – Current Assets and Asset Valuation
The Current Assets and Asset Valuation course, which is comprised of 5 videos, focuses on how companies manage and account for the primary current assets: accounts receivable, inventory and some investments. It also provides a broad discussion of the general ways in which assets are depicted on the financial statements. The financial statements and the footnotes of the companies featured in this course include Caterpillar Financial, Caterpillar Manufacturing, John Deere, Nordstrom, Yahoo, Barnes & Noble, and Amazon.
Course 6 Learning Objectives
- Describe how receivables appear on the balance sheet and explain how bad debts are accounted for.
- List and describe the four basic issues involved in accounting for merchandise inventory.
- Differentiate raw materials, work in process and finished goods, and explain how costs are attached to the inventory account as products move through the manufacturing process and are eventually sold.
- List and define the three primary inventory cost flow assumptions and how they affect both the balance sheet and the income statement.
- List and describe the basic asset valuation approaches and explain how each approach affects the financial statements.
Course Components
- PRATTedu Resources
- PRATTedu Program Structure
- Videos 1 – 5, each followed by knowledge check (KC) questions
- Assessment Quiz (must score 70%)
CPE Requirements
- The assessment Quiz must be completed satisfactorily no later than one year after enrollment, at which time your access to the website will expire.
- A 70% minimum score on Assessment Quiz is required for satisfactory completion and to receive a certificate.
Course Navigation
Main Course Page Navigation (Current Page)
The main course page for each course consists of 6 sections: (1) Course description; (2) Learning objectives; (3) Course components; (4) CPE requirements; (5) Course navigation; and (6) the master course navigator, which allows you to quickly jump to the various lessons that make up the course. The course structure and resources, the course videos, and the final assessment quiz.
Master Course Navigation
Simply complete the lessons in order. At the bottom of each lesson, are two buttons: Previous Lesson or Next Lesson. We also include excerpts in the buttons so you can quickly identify the content in each direction. You can always go back to the beginning of the course (course intro page) by clicking the “back to Course 1 – Introduction to Financial Statements link. Note: At the bottom of each completed lesson (right above the previous/next buttons) it will state “Complete Lesson” make sure you click it before moving on.
MAKE SURE YOU GET YOUR CERTIFICATE! Please read below:
You must mark each page of our courses as complete for our system to register for completion of a course and generate a certificate. The Structure and Resources section is typically missed by many users, simply scroll to the bottom of each page and click the blue “Mark Complete” button and enjoy your course!
Course Information
Course Instructor
Basic Enrollment
Scoring at least 70% on the assessment quiz after completion of this course earns a Certificate of Completion worth 3 hours of continuing professional education (CPE) credits.