This course provides an overview of the role of accounting estimateswithin U.S. GAAP. It addresses some of the key areas where estimates are required, such as fair value measurements, impairmentassessments, and contingent liabilities, and emphasizes their significance in financial reporting. The course also explores the inherent risks and challenges of using estimates, including the potential for biasand abuse.
Learning Objectives
Upon successful completion of this course, participants will be able to:
Identify key areas in U.S. GAAP where accounting estimates are required
Recognize the potential risks and challenges associated with accounting estimates
Differentiate between the proper use of estimates and instances of misuse or manipulation
Determine the impact of inaccurate accounting estimates on financial statements
Major Topics
Accounting Estimates: Risks, Challenges, and Potential Bias
Risks & Challenges in Using Estimates
Examples of Key Estimates
Fair Value Measurements
Impairment of Goodwill and Other Intangible Assets
Contingent Liabilities
Revenue Recognition
Pension and Other Post-Retirement Benefits
Income Taxes
Allowance for Doubtful Accounts
Stock-Based Compensation
Asset Retirement Obligations
