Topics to be discussed:
♦ Accounting for short-term liabilities: accounts payable, trade notes payable, unearned revenues,
gift cards, deposits, sales taxes payable, and compensated absences.
♦ Accounting for asset retirement obligations and required disclosures.
♦ Accounting for gain and loss contingencies: recognition and disclosures related to gain loss
contingencies.
♦ Accounting for common loss contingencies involving litigation, warranties, and premiums.
Course Objectives:
Upon completion of this course participants should be able to:
1. Explain the different types of short-term liabilities.
2. Apply the accounting rules and procedures for short-term liabilities, asset retirement
obligations, gain and loss contingencies and other common loss contingencies.
3. Identify the required disclosures for short-term liabilities, asset retirement obligations, gain
and loss contingencies and other common loss contingencies.
Instructional Delivery Method: Group Live
CPE Credits: 6
P. R. Field of Study: Accounting & Auditing
NASBA Field of Study: Accounting
Pre-requisite: Basic knowledge of financial accounting.
Level: Intermediate
Who should attend: Financial auditors, internal auditors, accountants and managers, among others.
Date: June 24 & 25, 2016
June 24, 2016:
Registration: 12:45pm – 1:30pm Seminar: 1:30pm – 4:30pm
June 25, 2016:
Registration: 8:15am – 9:00am Seminar: 9:00am – 12:00pm
Instructor: Lolita E. Vargas De León, CPA, CISA, CIA, MIBA; Socia Principal, Grupo Nova