This course provides an overview 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
Chapter 1, 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
Chapter 2, you will be able to:
• Identify the types of arrangements that may be considered commitments under ASC 440
• Recognize when a commitment should be disclosed in the financial statements
• Differentiate commitments from other obligations that create recognized assets or liabilities
• Determine when other accounting guidance may take precedence over ASC 440 for certain commitments

To complete this course participants need to: Read the material provided and answer chapter review questions, successfully complete the qualified assessment with a minimum of 70% accuracy to receive your certificate.

A course evaluation form is provided for your feedback, upon course completion. Participants have 1 year from the date of purchase/enrollment to complete this course

Our Refund policy can be found at: https://cpeprime.com/cancellation-and-refund/

Kelen Camehl

2026 A Closer Look at Guarantees and Commitments under U.S. GAAP