Guarantees are often included within certain purchase agreements, sales agreements, commercial agreements, and many other types of agreements. This course provides an overview of the accounting, reporting, and disclosure requirements related to guarantees. The U.S. GAAP guidance related to guarantees is prescribed by ASC Topic 460.
Learning Objectives
- Identify the primary types of guarantees
- Recognize the guarantees that are within the scope of ASC Topic 460
- Identify the recognition, measurement, and subsequent measurement requirements of guarantees
- Recognize key disclosure requirements for guarantees
Major Topics
- Overview of the accounting related to guarantees
- Review of the reporting related to guarantees
- Examination of the disclosure requirements related to guarantees
