Accounting Estimates: Risks, Challenges, and Potential Bias ON DEMAND
Available Until
Your Desk
1.0 Credits
Member Price $29.00
Non-Member Price $33.00
Overview
This course provides an overview of the role of accounting estimates within U.S. GAAP. It addresses some of the key areas where estimates are required, such as fair value measurements, impairment assessments, 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 bias and abuse.
Highlights
Accounting estimates: risks, challenges, and potential bias. Risks and 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.
Prerequisites
None.
Designed For
CPAs, CEOs, CFPs, and other accounting professionals.
Objectives
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.
Preparation
None.
Notice
None.
Leader(s):
Leader Bios
Kelen Camehl, Western CPE
Kelen is a recognized author and reviewer of CPE courses and has authored over 85 courses (225+ CPE credit hours) covering a range of accounting, auditing, financial reporting, regulatory, and ethics topics. His courses are available for purchase from many online CPE providers including the AICPA. Kelen has also remained involved in CPA exam content development for nearly 10 years and has authored more than a thousand multiple choice questions for various sections of the CPA exam. He also serves as an Editorial Advisor for the AICPA’s “Journal of Accountancy”.
Kelen has over 15 years of progressive finance and accounting experience. He currently serves as an Accounting Policy Consultant with HP, Inc. in Dallas, TX. Most recently he was located in Budapest, Hungary on a three-year international assignment and served in the company’s Houston, TX location prior to this assignment. Prior to HP, he served in multiple accounting roles in the oil & gas industry with ConocoPhillips including technical accounting policy, SOX compliance, and internal audit. He also gained public accounting experience with PricewaterhouseCoopers, working with various clients in the energy, electric, power, gas, and utility sectors.
Non-Member Price $33.00
Member Price $29.00