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Accounting Estimates: Risks, Challenges, and Potential Bias
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Accounting Estimates: Risks, Challenges, and Potential Bias
Course 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.
Learning Objectives:
Upon completion of this course, you will be able to:
Course 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.
Learning Objectives:
Upon completion of this course, you 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
Course Number:
KC89
NASBA Field of Study:
Accounting
Level:
Basic
Author/Instructor:
Kelen F. Camehl, CPA, MBA
Publication Date:
January 2025
CPE Credits:
1
KC89
NASBA Field of Study:
Accounting
Level:
Basic
Author/Instructor:
Kelen F. Camehl, CPA, MBA
Publication Date:
January 2025
CPE Credits:
1
Prerequisites:
None
Advanced Preparation:
None
None
Advanced Preparation:
None
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