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This course focuses on the accounting-related complexities for estimated liabilities and contingent liabilities. Customer loyalty programs, warranties, asset retirement obligations, and other examples are discussed.Generally accepted accounting principles (GAAP) recognition and disclosure methods are also presented.

This course will serve as a guide for accounting and finance professionals who need to fully understand how to prepare and interpret financial reports.

Learning Objectives

  • Recognize liabilities related to economic transactions
  • Recognize valuation methods used when accounting for estimated liabilities
  • Identify accounting principles related to liabilities
  • Identify examples of estimated liabilities

17 Reviews (79 ratings)Reviews

3
Member's Profile
I recognize that this is tough material for an instructor to cover, but I still expected more than I got out of this class. Perhaps we could see concrete examples of how different companies recorded these different types of liabilities (while complying with FASB or IASB guidance, of course).
3
Anonymous Author
The course only scratches the surface of accounting for liabilities. There is not enough details in the slides. It's more suited for someone who does not have much knowledge about accounting for the various liabilities.
4
Member's Profile
This is good high level review of liabilities. The course covers a lot of topics but not in great detail. Its a good course for a general understanding of liabilities.
3
Member's Profile
This is a dry course given in a dry manner with uninteresting slides to support it. The information is there by you have to find the nuts like a squirrel in winter.
4
Member's Profile
Great course and materials. Appreciate the focus on topics relevant today, including loyalty programs. Thanks!
3
Member's Profile
Lot of difficult tops crammed into one course. I think this course can be split into multiple classes.
5
Member's Profile
This course was great in refreshing my knowledge of accounting for liabilities
5
Member's Profile
Even pace. Excellent grapgics. Course outline was immensely beneficial.
4
Member's Profile
Good logical overview and refresher. Comparison to IFRS helpful too.
Anonymous Author
Good general review. Like the quick check questions. A little dry...
4
Member's Profile
Good discussions about potential liabilities and how to record them
4
Member's Profile
Good overview of liabilities and great real life examples.
3
Member's Profile
works for what i need to renew my cpa and cia licenses.
5
Member's Profile
The instructor was very helpful. Great review quiz.
2
Member's Profile
Good course for insomniacs. Presenter was boring.
5
Member's Profile
I liked the real-world examples.
4
Anonymous Author
good review material

Prerequisites

Course Complexity: Advanced

No advanced preparation or prerequisites are required for this course.

Education Provider Information

Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact:
For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Course Syllabus
Introduction and Overview
  4:38Introduction to Accounting for Liabilities – Estimation and Valuation
Accounting for Liabilities
  9:08Warranties
  14:59Litigation
  12:35Loyalty Programs
  9:02Gift Cards
  14:48Asset Retirement Obligations
  10:53Retirement Plans
Continuous Play
  1:16:03Accounting for Liabilities – Estimation and Valuation
SUPPORTING MATERIALS
  PDFSlides: Accounting for Liabilities – Estimation and Valuation
  PDFAccounting for Liabilities – Estimation and Valuation Glossary/Index
REVIEW and TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM