Surgent’s Accounting for Financial Statement Uncertainty: Estimates, Contingencies, and Going Concern (AFS4) (SSAA033/21)
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.
CPAs in either public or private practice with accounting, financial reporting, or attest responsibilities.
- 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
- 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