GOV1934 - Approaching Accounting & Auditing Estimates

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:

1. Reconstruct the estimates listed in the session description.
   
2. Evaluate the audit and accounting implications of misjudging estimates.
   
3. Interpret an estimate and correctly audit.

Speaker(s):

• Melissa Harman, CPA, Partner, Moss Adams
• Kevin W. Smith, CPA, Partner, Crowe LLP