0
Author: |
Kelen Camehl, CPA, MBA |
Course Length: |
Pages: 33 ||| Word Count: 12,344 ||| Review Questions: 10 ||| Final Exam Questions: 10 |
CPE Credits: |
2.0 |
IRS Credits: |
0 |
Price: |
$17.95 |
Passing Score: |
70% |
Course Type: |
Text |
Technical Designation: |
Technical |
Field Of Study: |
Accounting |
Approved Audience: |
NASBA QAS - NASBA Registry |
Key Takeaways: |
This course explains how to evaluate, recognize, measure, and disclose litigation related contingencies in financial statements.
|
Frequently Asked Questions: |
|
Description: |
This course provides an overview of the accounting and financial reporting requirements with respect to litigation. This includes distinguishing between probable, reasonably possible, and remote litigation outcomes as well as how to evaluate, recognize, measure, and disclose litigation-related contingencies. |
Usage Rank: |
49565 |
Release: |
2024 |
Version: |
1.0 |
Prerequisites: |
None. |
Experience Level: |
Overview |
Additional Contents: |
Complete, no additional material needed. |
Additional Links: |
External: Reporting Requirements of Contingent Liabilities and GAAP Compliance
Internal: Managing Legal Risks - The Intersection of Legal and Financial Reporting (Course Id 2504)
Internal: The Impact of Litigation on Financial Statements (Course Id 2505)
External: Investopedia - Litigation Risk Definition and Overview
|
Advance Preparation: |
None. |
Delivery Method: |
QAS Self Study |
Intended Participants: |
Anyone needing Continuing Professional Education (CPE). |
Revision Date: |
29-Nov-2024 |
NASBA Course Declaration: |
Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam. |
Keywords: |
Accounting for Litigation and Legal Contingencies - CPE course for CPAs |
Learning Objectives: |
Course Learning Objectives Upon completion of this course, you will be able to:
|
Course Contents: |
Chapter 1 - Accounting for Litigation and Legal Contingencies Course Learning Objectives Course Overview Introduction Types of Legal Disputes Importance of Accurate Evaluation Applicable U.S. GAAP Guidance Likelihood of Litigation Outcomes Assessing the Likelihood of Litigation Outcomes Review Questions Role of Legal Counsel Asserted vs. Unasserted Claims Recognition and Measurement of Legal Contingencies Gain Contingencies Financial Statement Disclosures Conclusion Review Questions Glossary of Key Terms |
Login/Register