Auditing Revenue Recognition: How to Prevent ?
EVENT DATE:
PRESENTER(s): Dr. Robert K Minniti
This program has been approved IRS CPE Credit 2(Taxes)
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Conference Material (Password Required)Are you up to speed on the new recognition standards and the audit procedures to use to ensure your audit client is compliant with the new revenue recognition standards? This course is designed for individuals who would like to obtain a better understanding of auditing for revenue recognition or who would like to review the standards. Although we will touch on cash basis accounting to show the differences this course will concentrate on GAAP accounting, specifically the revenue recognition requirements in ASC 606. We will review the revenue recognition standards and the audit procedures for auditing revenue recognition under GAAP
Learning Objectives:
- New recognition standards
- Audit procedures to use to ensure your audit client is compliant
- GAAP accounting
- Revenue recognition requirements in ASC 606
Upon completion of this course, you will be able to:
- Identify revenue recognition requirements per GAAP
- Identify revenue recognition audit procedures
- Describe acceptable way to estimate the standalone selling price in a contract
- Differentiate types of contracts and how they apply in various scenarios
- Recognize what should recorded as revenue for a company
- Describe the five core principles for revenue recognition
- Identify requirements of a customer contract
- Describe standalone selling price
- Recognize requirements in a contracts for recognizing revenue
Credits and Other information:
- Recommended CPE credit – 2.0
- Recommended field of study – Auditing
- Session Prerequisites and preparation: None
- Session learning level: Basic
- Location: Virtual/Online
- Delivery method: Group Internet Based
- NASBA Sponsor: 146439
- IRS Course ID: PJGWS
- Attendance Requirement: Yes
- Session Duration: 2 Hours
- Case Studies and Live Q&A session with speaker
- PowerPoint presentation for reference
Who Will Benefit:
- This course is appropriate for CPAs, CMAs, CIAs, CFEs, CFFs, and MAFFs
- Internal Auditors
- External Auditors
- Managers
- Staff Accountants
- CFOs and others responsible for revenue recognition decisions
Coder Archives 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.
