Accounting Estimates: Risks, Challenges, and Potential Bias - 2025 (Text Based)

This course provides an overview of the role of accounting estimates within U.S. GAAP. It addresses some of the key areas where estimates are required, such as fair value measurements, impairment assessments, and contingent liabilities, and emphasizes their significance in financial reporting. The course also explores the inherent risks and challenges of using estimates, including the potential for bias and abuse. 

Learning Objectives:

Upon completion of this course, you will be able to:

1. Identify key areas in U.S. GAAP where accounting estimates are required

2. Recognize the potential risks and challenges associated with accounting estimates

3. Differentiate between the proper use of estimates and instances of misuse or manipulation

4. Determine the impact of inaccurate accounting estimates on financial statements

Instructional Method: Self-Study

Review Date: 04/21/2025

Required Components: Written Materials

CPE Final Exam Required Passage Grade: 70%

Please Note: This course must be completed within 1 year of the date of receipt of this course for CPE Credit

Prerequisites: None

Level: Basic

NASBA Category: Accounting

Recommended CPE: 1

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FurtherEd is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.