Self-Study

Accounting for Litigation and Legal Contingencies

  • Thursday, May 1, 2025 – Thursday, April 30, 2026

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  • 2.00
    CREDITS
    Accounting

This course provides an overview of the accounting and financial reporting requirements with respect to litigation. This includes distinguishing between probable, reasonably possible, and remote litigation outcomes as well as how to evaluate, recognize, measure, and disclose litigation-related contingencies.

Objectives

  • Differentiate between probable, reasonably possible, and remote litigation outcomes
  • Identify when to accrue a liability for litigation-related contingencies under ASC 450-20
  • Recognize the role of legal counsel in the litigation process
  • Identify the appropriate financial statement disclosures for litigation-related contingencies

Highlights

  • Recognition and measurement of legal contigencies
  • Impact from new information
  • Events after the date of the financial statements
  • Recognized subsequent events

Additional Information

Designed For

Professionals interested in Accounting for Litigation and Legal Contingencies

Vendor

Surgent

Advanced Preparation

None

Credits

2.00 Accounting

Prerequisite

None

Course Number

2535711

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