In this module, you'll learn about how businesses that make and produce their own goods for sale may be at exposure for unique liabilities where users of the goods may have legal recourse against the business. You will explore various types of product defects such as manufacturing defects and design defects. You will also dive into the liability a business is exposed to when it fails to reasonably warn product users of known issues that may harm users. Finally, you will gain an understanding about how a business can defend itself against product liability lawsuits.

In this module, you'll apply concepts of negligence and other liabilities towards accountants performing various roles within an organization. Specifically, you'll learn how accountants may be held liable for negligence and fraud when preparing financial statements for a business. Also, you'll explore the concept of reasonably foreseeable users and how the work accountants perform may impact certain parties resulting in the opportunity for legal recourse against an accountant.

This final module brings everything together. You’ll review key concepts from the course and apply what you’ve learned to real-world business situations. By stepping back and looking liabilities, you’ll strengthen your ability to analyze how risks influence day-to-day business decisions and hopefully keep a business out of court and needing to settle for large amounts in court—skills that are essential for accountants and business professionals alike.