GOV1934. Approaching Accounting & Auditing Estimates

Track: 
Intersection
Field of Study: 
Accounting
Auditing
CPE Credit: 
2.0
Knowledge Level: 
Advanced
Advanced Preparation: 
None
Prerequisite: 
Extensive knowledge and experience auditing state and local governments and/or not-for-profits.

Tuesday, October 29, 2019
 
1:10PM-2:50PM

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.


SESSION SPEAKER(S)

CPA
Partner and Higher Education National Practice Leader | Moss Adams LLP
CPA
Partner | Crowe LLP