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| Author : | Kelen Camehl, CPA, MBA |
| Course Length : | Pages: 21 ||| Word Count: 7179 ||| Review Questions: 4 ||| Final Exam Questions: 5 |
| CPE Credits : | 1.0 |
| IRS Credits : | 0 |
| Price : | $12.95 |
| Passing Score : | 70% |
| Course Type: | NASBA QAS - Text - NASBA Registry |
| Technical Designation: | Technical |
| Primary Subject-Field Of Study: | Accounting - Accounting for Course Id 2505 |
| Description : |
This course offers an overview of the accounting and financial reporting obligations related to litigation. It covers the classification of litigation outcomes as probable, reasonably possible, or remote, along with guidance on evaluating, recognizing, measuring, and disclosing litigation-related contingencies. |
| Usage Rank : | 23333 |
| Release : | 2025 |
| Version : | 1.0 |
| Prerequisites : | None. |
| Experience Level : | Overview |
| Additional Contents : | Complete, no additional material needed. |
| Additional Links : |
https://www.investopedia.com/terms/l/litigation-risk.asp
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| Advance Preparation : | None. |
| Delivery Method : | QAS Self Study |
| Intended Participants : | Anyone needing Continuing Professional Education (CPE). |
| Revision Date : | 10-Mar-2025 |
| 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. |
| Approved Audience : | NASBA QAS - Text - NASBA Registry - 2505 |
| Keywords : | Accounting, Impact, Litigation, Financial, Statements, cpe, cpa, online course |
| Learning Objectives : |
Course Learning Objectives Upon completion of this course, you will be able to:
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| Course Contents : | Chapter 1 - The Impact of Litigation on Financial Statements Course Learning Objectives Course Overview Introduction Types of Legal Disputes Why Accurate Evaluation Matters Relevant U.S. GAAP Standards Probability of Litigation Outcomes Evaluating the Probability of Litigation Outcomes Review Questions Function 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 |
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