Estimates, Contingencies and Going Concern

Overview

This course covers a broad range of topics involving uncertainty in accounting and auditing. It addresses accounting standards related to going concern, contingencies, guarantees, and credit losses, along with auditing standards applicable to auditing accounting estimates and evaluating going concern. The course provides a practical overview of how these areas are addressed under current standards and how they impact financial reporting and audit procedures. Jeff presents the material in an engaging manner to reinforce key concepts and maintain focus.

Highlights

• Overview of accounting estimates and uncertainties
• Going concern accounting and auditing considerations
• SAS 132 requirements
• SAS 143 requirements
• Loss and gain contingencies
• Guarantees
• Credit losses
• Impact on financial reporting and auditing

Prerequisites

Basic Accounting

Designed For

Accounting and auditing professionals seeking to understand accounting and auditing requirements related to uncertainty

Objectives

At the end of this course, you will be able to: 

• Identify requirements of SAS 132 related to going concern
• Identify requirements of SAS 143 related to auditing estimates
• Identify accounting requirements for loss and gain contingencies
• Identify accounting requirements for guarantees
• Identify accounting requirements related to credit losses

Preparation

None

Notice

This course is offered by a 3rd party vendor and will not be accessible in the My CPE Tracker section of the ISCPA website. Course access information will be emailed directly to you by Accounting Continuing Professional Education Network (ACPEN).