Description
This session will cover the areas in nonprofit and governmental accounting that require significant estimates. During this session, we will cover the preparer and auditing perspective including:
- Discounts on long-term receivables including pledge receivables
- Collectability and allowances on receivables
- Valuation and impairment of investments
- Deferred revenue, liabilities and swaps
- Allocations of expenditures
- Useful lives and impairment of long-lived assets
- Donated goods and services
- Pension obligations
- Asset retirement obligations
- Split-interest agreements
Learning Objectives:
- Reconstruct the estimates listed in the session description.
- Evaluate the audit and accounting implications of misjudging estimates.
- Interpret an estimate and correctly audit.
Speaker(s):
