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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.