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
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.