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Secure Transaction CPE Credits
2 Credits: Accounting
Course Level
Overview
Format
Self-Study
Course Description
This course provides an of the accounting for guarantees and commitments under U.S. GAAP. It begins with the principles for recognizing and disclosing guarantees and then expands to cover commitments, such as unused lines of credit, purchase obligations, and other off-balance sheet arrangements. Throughout, you’ll gain practical insight into how these obligations affect financial reporting and the disclosure requirements for each.
Learning Objectives
Upon completion of this course, you will be able to:
- Identify which arrangements fall within the scope of ASC Topic 460
- Recognize when a guarantee must be recorded as a liability
- Determine the appropriate initial and subsequent measurement of a guarantee
- Select the required disclosures for guarantees in the financial statements
- Identify the types of arrangements that may be considered commitmentsunder ASC 440
- Recognize when a commitment should be disclosed in the financial statements
- Differentiate commitmentsfrom other obligations that create recognized assets or liabilities
- Determine when other accounting guidance may take precedence over ASC 440 for certain commitments
Course Specifics
SS125444888
September 17, 2025
There are no prerequisites.
None
50
Compliance Information
CMA Notice: Western CPE makes every attempt to maintain our CMA CPE library, to ensure a course meets your continuing education requirements please visit Insitute of Management Accountants (IMA)
CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board. CFP Professionals must take each course in it’s entirety, the CFP Board DOES NOT accept partial credits for courses.
Meet The Experts
Kelen is a recognized author and reviewer of CPE courses and has authored over 145 courses (350+ CPE credit hours) covering a range of accounting, auditing, financial reporting, regulatory, and ethics topics. Kelen remained involved in CPA exam content development for nearly 10 years and authored more than a thousand multiple choice questions for various sections of the CPA exam. He also serves as an Editorial Advisor for the AICPA’s Journal of Accountancy. Kelen has nearly 20 years of progressive finance and accounting experience. He currently serves as an Accounting Policy Advisor with HP. Prior to HP, he served in multiple …
QAS Self-Study
