Accounting Estimates: Risks, Challenges, and Potential BiasCode: 27-AESRISKS

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Course Details

Pages: 21
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
Category: Accounting

Recommended CPE Hours: 1

Level of knowledge: Overview

Prerequisite: General understanding of Accounting

Advanced Preparation: None
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