This course explores the intersection between legal and financial reporting and focuses on how attorneys and accountants collaborate to evaluate, recognize, and disclose legal risks in financial statements. The course addresses key issues such as probable losses, contingent liabilities, asserted and unasserted claims, and how each discipline contributes to accurate and compliant financial reporting.
Self-Study Course Instructions: FOR DOCUMENT-BASED COURSES Download the course document(s) (below) and follow prompts contained in the document. |
Recognize roles of legal counsel and accountants in identifying, assessing, and reporting legal risks
Identify key concepts surrounding contingent liabilities and loss contingencies
Differentiate between asserted and unasserted claims and their impact on financial reporting
Identify communication and collaboration best practices between legal and accounting teams
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. His courses are available for purchase from many online CPE providers including the AICPA. 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 accounting roles in the oil & gas industry with ConocoPhillips including technical accounting policy, SOX compliance, and internal audit. He also gained public accounting experience with PricewaterhouseCoopers, working with various clients in the energy, electric, power, gas, and utility sectors.
CPAacademy.org (Sponsor Id#: 111889) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.
CPAacademy.org 1685 S. Colorado Blvd, Suite #205, Denver, CO 80222