Courses

Surgent's Accounting for Financial Statement Uncertainty: Estimates, Contingencies, and Going Concern (AFS4)

Registration Closed

Member Price: $0.00 Non-Member Price: $0.00

Date/Time:: Oct 23, 2020, 1:00pm–4:30pm
Developer:: SURGENT MCCOY SELF-STUDY CPE, LLC
Level:: Basic

Understanding the proper accounting for and reporting of financial statement areas containing uncertainty can be challenging, especially ensuring adequate disclosure of risk to the financial statement users. This course will provide critical considerations when evaluating the proper treatment of accounting estimates, loss contingencies, and going concern in U.S. GAAP-basis financial statements.

Objective

Identify areas of the financial statements that contain accounting or reporting uncertainty
Understand the proper accounting treatment of loss contingencies under U.S. GAAP
Discuss how to evaluate the sufficiency of accounting for areas of estimation, such as common allowances and accruals
Describe the important considerations when determining the proper disclosure of going concern and other areas of uncertainty

Highlights

Identifying financial statement areas containing recognition, measurement, presentation, or disclosure uncertainty
Applying common techniques for evaluating the proper accounting treatment of loss contingencies, allowances, accruals, and other areas with recognition and measurement uncertainty
Describing important presentation and disclosure considerations when highlighting uncertainty to financial statement users making economic decisions
Evaluating the adequacy of disclosure of going concern uncertainty under U.S. GAAP

Designed For

CPAs in either public or private practice with accounting, financial reporting, or attest responsibilities.

Prerequisite

None

Advanced Preparation

None