About the course
This course introduces both loss and gain contingencies, and the proper accounting on the financial statements under ASC 450. The accounting for guarantees in ASC 460 is also reviewed in addition to commitments, and disclosure requirements.
By the end of this course, participants should be able to:
- determine if a loss contingency exists and if it should be accrued and/or disclosed based on the guidance in ASC 450
- recall the accounting and presentation requirements for gain contingencies
- determine the initial and subsequent accounting requirements for guarantees under ASC 460
- identify common disclosures related to gain and loss contingencies, guarantees and commitments.
Keywords ASC 460, Contingencies
Special Notice/Instruction: CPE credits will be awarded upon successful completion of the content and passing the exam with a grade of 70 or higher. In accordance with NASBA requirements, you must complete and pass the exam within one year of your enrollment in the program. NASBA Delivery Type: Self-Study
Advance Preparation: There is no advance preparation for this course.
This course is not mobile-compatible.
Because of COVID-19, many providers are cancelling or postponing in-person programs or providing online participation options.
We are happy to help you find a suitable online alternative.