Accounting for Guarantees
Course Description:
Guarantees are often included within certain purchase agreements, sales agreements, commercial agreements, and many other types of agreements. This course provides an overview of the accounting, reporting, and disclosure requirements related to guarantees. The U.S. GAAP guidance related to guarantees is prescribed by ASC Topic 460.
Learning Objectives:
Upon successful completion of this course, participants will be able to:
- • Identify the primary types of guarantees
• Recognize the guarantees that are within the scope of ASC Topic 460
• Identify the recognition, measurement, and subsequent measurement requirements of guarantees
• Recognize key disclosure requirements for guarantees
Course Number:
KC21
NASBA Field of Study:
Accounting
Level:
Basic
Author/Instructor:
Kelen F. Camehl, CPA, MBA
Publication Date:
December 2021
CPE Credits:
1
Prerequisites:
None
Advanced Preparation:
None
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