Surgent's Accounting for Litigation and Legal Contingencies
Start Date
Thursday, May 1 2025
Thursday, May 1 2025
End Date
Thursday, April 30 2026
Thursday, April 30 2026
Credit Hours
2.00
2.00
Fields of Study
Accounting
Accounting
Type
Seminar
Seminar
Level
Basic
Basic
Member
$49.00
$49.00
Non-Member
$54.00
$54.00
Facility Location
Virtual Learning
Virtual Learning
Company
SELFS
SELFS
Vendor
Surgent McCoy CPE, LLC
Surgent McCoy CPE, LLC
Status
Self Study
Self Study
Description
This course provides an overview of the accounting and financial reporting requirements with respect to litigation. This includes distinguishing between probable, reasonably possible, and remote litigation outcomes as well as how to evaluate, recognize, measure, and disclose litigation-related contingencies.
Designed For
Professionals interested in Accounting for Litigation and Legal Contingencies
Objectives
- Differentiate between probable, reasonably possible, and remote litigation outcomes
- Identify when to accrue a liability for litigation-related contingencies under ASC 450-20
- Recognize the role of legal counsel in the litigation process
- Identify the appropriate financial statement disclosures for litigation-related contingencies
Major Subjects
- Recognition and measurement of legal contigencies
- Impact from new information
- Events after the date of the financial statements
- Recognized subsequent events
Prerequisites
None
