Catalogue

Description

This course will be an overview of:

• 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. US GAAP.

After completing this course, the learner should be able to:

• Identify areas of the financial statements that contain accounting or reporting uncertainty.
• Understand the proper accounting treatment of loss contingencies under U.S. US 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.