CPE Packages (Incl. Ethics) for Multiple States and Qualifications Available. Price $4/credit - CLICK HERE to view.

Auditing Revenue Recognition

Dr. Robert Minniti

Minniti CPA LLC

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

Published: April, 2021

2 Credits

$20

Subject Area

Auditing

Webinar Qualifies For

2 CPE credit of Auditing for all CPAs

2 CPE credit for Certified Management Accountants (CMA)

2 CPE credit for Certified Internal Auditors (CIA)

2 CPE credit for Qualification in Internal Audit Leadership (QIAL)

2 CPE credit for Internal Audit Practitioner (IAP)

2 CPE credit for Certified Fraud Examiners (CFEs)

2 CPD credit (Verifiable) for CPA/CFF

2 CPD credit (Verifiable) for Certified Valuation Analyst (CVA)

2 General Educational credit for Tax Professionals / Bookkeepers / Accountants

You need to register for the webinar to watch the video.

Click Here to Register

Before starting this self study program, please go through the instructional document.

Overview

  • What is Revenue?
    2 mins
  • New Revenue Recognition Standerds
    12 mins
  • Statue of Frauds
    31 mins
  • Identifying Performance Obligation
    47 mins
  • Financial Statement Assertions
    59 mins
  • Revenue Recognition Issues
    80 mins

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