There are specific requirements for how a guarantee is to be accounted for and disclosed. In the Accounting for Guarantees course, we discuss the various types of guarantees and whether they fall within the scope of this GAAP topic. The course also addresses the accounting for all qualifying guarantees, and how related information is to be disclosed in the financial statements of the reporting entity.
Learning Objectives
Upon successful completion of this course, participants will be able to:
Identify the different types of guarantees.
Specify the types of guarantees that fall within the scope of the GAAP Guarantees topic.
Recall the methods used to measure subsequent changes in the amount of a guarantee.
Specify the circumstances under which a loss contingency should be recorded.
Major Topics
Accounting for Guarantees
Direct Guarantees vs. Indirect Guarantees
The Guaranteed Party
Warranties
Examples of Pertinent SEC Filings
