Auditing Revenue Recognition

Dr. Robert Minniti

Minniti CPA LLC

Friday, March 12, 2021 | 03:00 PM EST

  • CFF
  • CIA
  • CMA
  • CPA
  • CVA
  • IAP
  • QIAL
  • CFE

2 CPE

$20

Subject Area

Auditing

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Course Description

FASB's new revenue recognition standard, FASB ASC Topic 606, Revenue From Contracts With Customers, is one of the most significant changes ever in U.S. GAAP. The new, principles-based standard requires consideration of a five-step framework that includes estimates on the revenue recognized for the accounting period. Auditors must understand the framework in order to perform audit procedures.

Are you up to speed on the new FASB 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 basic understanding of auditing for revenue recognition or who would like to review the standards. We will review the revenue recognition standards and the audit procedures for auditing revenue recognition.  

Key topics:

  • Explain the basic principles of revenue recognition. 
  • Describe the basic procedures for auditing revenues. 
  • Explain the impact of audit strategies on revenues auditing procedures. 
  • Outline the mix of evidence and the design of tests of balances auditing procedures for revenues.

This course is appropriate for CPAs, CMAs, CIAs, CFEs, CFFs, MAFFs, internal auditors, external auditors, managers, staff accountants, CFOs and others responsible for revenue recognition decisions. 


Learning Objectives

  • To identify revenue recognition requirements
  • To identify revenue recognition audit procedures

Who Should Attend?

  • Accountant
  • CPA - Small Firm
  • CPA - Mid Size Firm
  • Accounting Firm
  • CPA (Industry)
  • Auditors
  • Young CPA
  • Senior Accountant
  • Staff of Accounting Firm
  • Bookkeepers & Accountants & Tax Preparers