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Accounting for Liabilities
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Course Description

This interactive self-study course is designed to provide financial professionals, including but not limited to CPAs and PAs, an overview of the accounting complexities related to estimated liabilities and contingent liabilities.  The course also explains customer loyalty programs, warranties, and asset retirement obligations.  Additionally, the course details GAAP-based recognition and disclosure methods. 

Learning Objectives
  • Objective 1
    • Identify accounting principles related to liabilities. 
  • Objective 2
    • Be able to identify examples of estimated liabilities.
    • Recognize liabilities related to economic transactions.
  • Objective 3
    • Understand customer loyalty programs and obligations related to these campaigns.
    • Identify how to account for customer loyalty program liabilities.
  • Objective 4
    • Recognize valuation methods used when accounting for estimated liabilities.
  • Objective 5
    • Understand asset reclamation and asset retirement obligations.
  • Objective 6
    • Recognize valuation methods used when accounting for estimated liabilities. 
    • Identify examples of estimated liabilities. 
  • Objective 7
    • Recognize liabilities related to economic transactions.
    • Identify accounting principles related to liabilities.
    • Identify examples of estimated liabilities. 
  • Objective 8
    • Recognize liabilities related to economic transactions.
    • Recognize valuation methods used when accounting for estimated liabilities. 
  • Instructional Delivery Method
    QAS Self Study
  • Course Format
    PDF / Text
  • Prerequisite
    None
  • Field of Study
    Accounting
  • Level of Knowledge
    Basic
  • Recommended CPE Credit
    1.50
  • CPE Final Exam Required Passing Grade
    70.00%
  • Advanced Preparation
    None
  • Course Reviewed / Updated
    01/18/2019
  • Course Author
    Christopher Demaline, CPA, CMA, CFE
Please Note:

Please Note: This course must be completed within 12 months of date of receipt of this course for CPE credit.

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