2 CPE 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
Last updated/reviewed: March 8, 2024
36 Reviews (190 ratings)
Reviews
Heriberto Hernandez
(Legal Ops Controller at Google)
1. In my opinion, accounting for liabilities/contingencies can be a very interesting one especially when compared to other accounting topics which are very dry. I feel the instructor could've added much more "flavor" to the class to make it more appealing. Also very monotone...
2. I did like that it covered a good number of examples (gift cards, warranties, etc).
Alex Ledin
(Financial Analyst at Lockheed Martin Co.)
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).
Anonymous
(Director Net Revenue)
Thorough discussion of liabilities & related info but the slides were very hard to follow. As a visual person, this would be much better with more detailed slides. It was hard to watch when there wasn't anything tying the audio in
Anonymous
()
Really good lesson on learning about pension and warranty liability. The instructor did a great job teaching the material and helping me understand more thoroughly loyalty programs and gift cards as well as pension liabilities.
Anonymous
(Consultant)
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.
Anonymous
(Senior Internal Auditor)
This course was a good refresher. The allotted time is sufficient to cover all the topics and the instructor appears knowledgeable. However, some of the questions covered in the final exam did not appear in the lecture.
Anonymous
(Sr. Director of Cost Management and Comp..)
Slow pace of this course made it difficult to follow. Slide material was significantly vague and of little use for test answers. All test content came from active listening of the entire course material.
Anonymous
(Accountant)
The course materials did not have a lot of information on them - mostly just header for what the instructor was talking about. It was difficult to remember all the case scenarios without some references.
Linda Jacobs
(acct at n/a)
This course was presented in a choppy manner. Felt like it was a classroom lecture mashed together where I was missing relevant discussion and the textbook. Slides did not add to the course.
Anonymous
(Director of Accounting)
Course is a decent overview, but wish the slides had more material on them for quickly refreshing in the future instead of having to watch the entire class again to get the actual material.
Lauren Bauer
(Accounting Manager at Signature Analytics)
The instructor gave great examples during the presentation and kept the material interesting. He covered many different accounting areas that require estimates and valuations.
Kevin Murray
(Business Partner - Strategic Projects at The Wesson Group)
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.
Ara Toroyan
(Director - Financial Planning & Proc.. at NCCI Holdings, Inc.)
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.
Anonymous
(Sr. Accountant)
Great verbal examples however the supporting slides don't include the example detail or bullet points which were communicated during the presentation.
Anonymous
(Corporate Accountant)
This accounting for liability estimation and valuation is a great course. It really help me refresh my knowledge of liability accounting.
Anonymous
(Accounting Manager)
Good course, the Final Exam questions are difficult bc the lecture lightly covers the specific answers. Overall good.
Doug Slaybaugh
( at The CPA Coach)
Great course and materials. Appreciate the focus on topics relevant today, including loyalty programs. Thanks!
Anonymous
(Compass Consultant)
The class materials were OK - not as helpful for review and left a lot of material in the speaking portions.
Lilian Dendrinos
(consultant at DLC Group)
Lot of difficult tops crammed into one course. I think this course can be split into multiple classes.
Anonymous
(Senior Accountant)
Nice overview of various liabilities items that involve estimation and a bit more complexity behind
Anonymous
(Consultant)
Great real world examples used in the course to illustrate accounting for liabilities.
Nobuo Nurimoto
(General Accounting, Manager at Takeda Pharmaceutical Company Limited)
It was a great lesson to learn how estimation and valuation should be calculated.
Louis Diaz
(Consultant at RSM)
This course was great in refreshing my knowledge of accounting for liabilities
Robert Stellato
( at DS Smith)
I really benefited from this course. Instructor was very straight forward
Jim Woolwine
(Sr. Director of Finance and Administrati.. at The Gerontological Society of America)
Even pace. Excellent grapgics. Course outline was immensely beneficial.
Anonymous
(CPA)
Good course, wish it had more detailed examples of calculations though.
Anonymous
(Sr. Accountant)
Good general review. Like the quick check questions. A little dry...
Craig Scanlon
(Owner at BST)
Good logical overview and refresher. Comparison to IFRS helpful too.
Kirit Kapadia
( at Kirit KapadiaCPA)
Good discussions about potential liabilities and how to record them
Inna Shmukler
(Controller at Fornetix LLC)
An OK overview course. Slides cold have been much more informative.
Stephanie Pan
(Tax Associate at NFP)
Good overview of liabilities and great real life examples.
Jennifer Bor
(Sole Practitioner at Accounting and Business Management Consu..)
works for what i need to renew my cpa and cia licenses.
Jonathan Szeliga
(Not Provided at DOJ)
The instructor was very helpful. Great review quiz.
Gwen Clemings
(Production Revenue Accountant at Repsol)
Good course for insomniacs.
Presenter was boring.
Simon Adell
(Chief Financial Officer at Undisclosed)
I liked the real-world examples.
Anonymous
(Fiscal Officer)
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
.
Christopher DemalineProfessor
About Illumeo
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