This course introduces you to how generally accepted accounting principles address events that happen after the balance sheet date but before financial statements are reported—subsequent events. The guidance on subsequent events is set out in Topic 855, Subsequent Events, of the FASB Accounting Standards Codification. Upon successful completion of this course you will be able to: State why subsequent events matter ; Identify which events to consider ; Distinguish between those effects of subsequent events that should be recognized and those that should not ; Cite disclosure objectives; Note other matters to consider