Accounting for Guarantees

Understand and apply the GAAP requirements for accounting and disclosing guarantees. This course explains which arrangements qualify as guarantees, identifies those within scope of the standard, and walks you through initial recognition, subsequent measurement, and required disclosures. Learn how to evaluate different guarantee structures, record related liabilities, and present transparent information in the financial statements. Strengthen your technical accuracy and ensure that your reporting properly reflects the financial impact of guarantee obligations.
Format

PDF Course

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Duration

1 Hour

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Course Information

Author: Steven Bragg
Course Number: AC1155

Learning Objectives
  • Identify the different types of guarantees.
  • Specify the types of guarantees that fall within the scope of the GAAP Guarantees topic.
  • Recall the methods used to measure subsequent changes in the amount of a guarantee.
  • Specify the circumstances under which a loss contingency should be recorded.

Level: Overview
Instructional Method: QAS Self-Study
NASBA Category: Accounting
Prerequisites: None
Advance Preparation: None
Latest Review Date: September 2024
Program Registration Requirements: Click on the Enroll button to pay for and access the course. You will then be able to download the course as a PDF file, then take an on-line examination, and then download a certificate of completion if you pass the examination.
Program Refund Policy: For more information regarding administrative policies concerning complaints, refunds, and other matters, see our policies page.

AccountingTools, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have the final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.
The NASBA sponsor identification number for Accountingtools, Inc. is 115881.

AccountingTools is an IRS Approved Continuing Education Provider. We are compliant with the requirements for continuing education providers (as described in sections 10.6 and 10.9 of the Department of Treasury’s Circular No. 230 and in other IRS guidance, forms, and instructions). Our IRS Approved Continuing Education Provider number is 72821.