Self-Study

Surgent's Auditing Revenue Recognition (Audit Skills Training - Level 3) (A3M6)

  • Wednesday, May 1, 2019 – Thursday, April 30, 2020

  • 3
    CREDITS
    Auditing

Revenue recognition is presumed to be a significant risk requiring special audit consideration for financial statement auditing purposes. This module will provide tips and techniques for obtaining sufficient and appropriate audit evidence to support conclusions.

Objectives

  • Discuss typical revenue recognition risks
  • Explain linkage of assessed risk of material misstatement to detailed audit plan for revenue recognition
  • Describe multiple element transactions, bill and hold sales, right of return, and other special revenue recognition considerations
  • Explain the impact of changing accounting standards

Highlights

  • Generally accepted accounting principles related to sales, including the new revenue recognition model
  • Using analytic procedures to identify and respond to risk of material misstatement related to sales
  • Common revenue recognition fraud schemes and potential audit responses
  • Installment sales and multiple element arrangement special considerations
  • Audit responses to significant risks requiring special audit consideration

Additional Information

Designed For

Accountants responsible for auditing revenue recognition

Vendor

Surgent

Advanced Preparation

None

Credits

3.00 Auditing

Prerequisite

Familiarity with SASs and FASBs

Course Number

1925342

Level of Knowledge

Intermediate

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