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Business Law for Accountants - Contracts  

CATEGORY: Management
COURSE ID: CLBLAC, VERSION 2.00
(124)
Online & Mobile, Download
4 CPE Credits
Level: Basic

The basic principles of contract law include mutual assent, consideration, capacity and legality but the depth of contract law goes much farther. There are legal as well as accounting ramifications to contracts. This course introduces the law of contracts including contract terminology, the elements of an enforceable contract, different types of contracts, breach of contracts and arbitration. Because most contracts are governed by the legal authoritative regulations found in Article 2 of the Uniform Commercial Code, the relevant Parts 2 and 3 covering the form, formation and readjustment of contracts as well as general obligations and the construction of contracts are included. The remainder of this course is devoted to the Accounting Standards Update 2014-09, Revenue from Contracts with Customers, as is incorporated into FASB ASC Topic 606 as well as other types of contracts that are specifically excluded from this particular authoritative guidance.

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