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Corporate Accounting & Auditing Best Practices

  • Accountant
  • CPA/ABV
  • CRMA
  • CPA/CFF
  • CFE
  • CGAP
  • CGFM
  • CIA
  • CMA
  • CPA (US)
  • CVA
  • CFA
  • IAP
  • QIAL
  • CIPM
  • CBA/MCBA
  • FPAC
  • CFIRS
  • CWS

Published: January, 2022

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

  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Overview

  • Why do we have audits?
    4 mins
  • What to expect from the auditor
    49 mins
  • Communicate with your staff about the audit
    93 mins
  • Sales transection information accuracy
    138 mins
  • Invoice delivery to customers
    166 mins
  • But.. managing indirect expenses is usually not a strength..
    209 mins
  • Web-based technology
    256 mins
  • Getting the financial statement
    315 mins
  • Setting limits on risk
    359 mins

Course Description

Every year the same story repeats itself. The year-end approaches quickly, accounting team works very hard and still falls short of managing the financial statements and supporting details ready for the auditor. This tough and stressful situation can be simple, easy to follow, efficient, and most importantly less stressful. This full-day CPE online course ensures that you survive the audit, and ensure the implementation of the accounting best practices with reference to revenue, expenditure, and financial statement analysis.

This course not only makes you understand your situation, but also helps you anticipate the kind of questions an auditor may ask – thereby preparing you for a possible answer, explanation, and notes that may come in handy for you to provide a proper explanation. This advanced preparation lets you be at ease at the time of the audit and create an atmosphere of cooperation by having the auditor trust the financial information and documentation more readily. This helps you get a good audit experience that serves the interests of the stakeholders.

Revenue recognition is a significant risk that requires special audit considerations for financial statement auditing purposes. Particularly susceptible to fraud, a revenue manipulation check is an important aspect of the audit. It is crucial as attractive revenue streams may be attractive investment targets just for executives to be paid better bonuses. This course enlightens with the best practices for accountants and auditors to play a crucial role in preventing revenue manipulation by ensuring proper revenue policies are being followed.

Despite the best efforts, in the modern corporate environment, the staff has to move in different directions at the same time incurring expenses that require reimbursement. To ensure the genuine expenses are reimbursed and entered into the books of accounts, it is required that the expense reimbursement policies are followed through proper monitoring. It is also required to ensure that there is no oversight without overburdening the accounting staff and it still encourages compliance. One of the trickiest areas to work in - is the review of corporate expense accounts. If you are or have been involved in tracking or approving corporate expense accounts, you are already aware of how sensitive people can be about expense accounts. If you believe you could use some helpful hints to navigate the minefield, this webinar is for you. The speaker Michel Morley has experienced the situations at both ends and is going to share some secrets to make things easier.

Financial statement analysis is crucial for the decision-making process. It is a tool that allows you to quickly “read between the lines”. As it affects a large number of stakeholders, it is important that professionals follow and when in doubt adhere to the best practices in the financial statement analysis. This course helps you with an opportunity to explore the financial analysis with its best practices to ensure that it leads to the best decision-making possible with secrets to make the process quick and easy.

This online CPE course on Accounting and Auditing covers the following Key topics:

  • Year-end "must-do" items checklist
  • Key information and documentation the auditor always wants, and "Special" areas the auditor always checks
  • Answer the tricky questions such as: What else could the auditor ask for? How much should you tell the auditor? What not to say to the auditor?
  • Knowing what the auditor will ask your boss and be ready
  • Best practices in revenue data collection, revenue allocation, and deferral; and best use of rolling revenue forecasts
  • Internal control for fraud detection, and internal audit
  • Inserting a fair value into the revenue recognition cycle
  • Developing online management reporting systems for reviews
  • Establishing and maintaining effective Internal controls for fraud detection
  • Looking at strategies that encourage timeliness such as timeliness of revenue recognition issues
  • GAAP: The basic building blocks
  • Profit vs. Cash Flow
  • Benchmarking, developing a consistent methodology, understanding credit ratings, and analyzing ratios

With the instructor’s unique approach to assessing a company’s ability to perform efficiently and produce the best results for its investors, this will be a fun webinar with a lot of important takeaways…!

If you are interested in learning about fraud prevention and detection, you might be interested in our Certified Fraud Analyst Course.

Learning Objectives

  • To identify key information and documentation the auditor always wants
  • To recognize what the auditor will ask your boss and how to be ready for that
  • To strategize for avoiding the month-end review crunch
  • To review the merits of expense reimbursement through payroll
  • To identify expense data collection and analysis best practices, and dissect a statement of changes in the financial position
  • To identify the hidden pitfalls of mergers and acquisitions

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Accounting Managers
  • Accounting Practice Owners
  • Auditors
  • Cloud Accountants
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Entrepreneurial Accountant
  • Entrepreneurial CPA
  • Senior Accountant
  • Staff of Accounting Firm
  • VP Accounts
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 8 CPE Credit of Internal Auditing for Certified Internal Auditors (CIA)
  • 8 CPE Credit of Accounting & Auditing for Certified Management Accountants (CMA)
  • 8 CPE Credit of Accounting & Auditing for Certified Public Accountants (CPA-US)
  • 8 CPE Credit of Auditing for Certified Valuation Analyst (CVA)
  • 8 CPE Credit for Qualification in Internal Audit Leadership (QIAL)
  • 8 CPE Credit of Auditing for Certified Business Appraiser/Master Certified Business Appraiser (CBA/MCBA)
  • 8 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 8 CE Credit for Certified Wealth Strategist (CWS)
  • 8 General Credit for Accountant/Bookkeeper/Tax Professionals
  • 8 CPD Credit of Financial Reporting for Accredited in Business Valuation (ABV)
  • 8 CPE Credit for Certification in Risk Management Assurance (CRMA)
  • 8 CPD Credit of Auditing for Certified Financial Forensics (CFF)
  • 8 CPE Credit of Auditing for Certified Fraud Examiner (CFE)
  • 8 CPE Credit for Certified Government Auditing Professional (CGAP)
  • 8 CPE Credit for Certified Government Financial Manager (CGFM)
  • 8 PL Credit for Chartered Financial Analyst (CFA)
  • 8 CPE Credit for Internal Audit Practitioner (IAP)
  • 8 PL Credit for Certificate In Investment Performance Measurement (CIPM)
  • 8 CRE Credit for Certified Corporate FP&A Professional (FPAC)

Additional details

  • Course Level :
    Basic
  • Credits :
    8
  • Instructional Method :
    QAS Self Study
  • Pre-requisites :
    None
  • Advance Preparation :
    None

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) 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.

Presenter

About Presenter

Michel Morley

Founder, Mike Morley

Mike Morley is a Certified Public Accountant and a recognized authority in the field of finance with more than 25 years experience in finance, including SOX and IFRS implementation.

An entertaining and informative speaker and trainer, Mike is the author of:

“IFRS Simplified” which provides a jump start for accountants and finance executives who want to quickly and easily get up to date on IFRS.

 “Sarbanes-Oxley Simplified” which is an easy-to-read explanation of the requirements of the U.S. legislation that makes CEO's & CFO's personally responsible for the accuracy of their company's financial statements.

“Financial Statement Analysis Simplified” which translates the accounting language of financial statements into clear, easy-to-understand terms that anyone who needs to make well-informed financial decisions quickly will appreciate.

Faq

FAQs content

  • To receive Continuing Education credit for the event, you must register for the webcast prior to the start of each program.
  • Continuing Education Credit Certificate is available to all eligible participants within 24 hours of each webinar.
  • You must attend complete live webinar and respond to all polling questions asked during the webinar. Credits would be issued on 50 minute credit hour basis.
  • Polling feature Not supported: If you are logging in through browser or web portal in the browser (zoom.us) it doesn’t support the polling feature. Please be advised the current polling feature can only be supported via Zoom desktop and mobile app. You can check the same here : https://support.zoom.us/hc/en-us/articles/203749865-Polling-for-webinars
  • This event may be a recorded rebroadcast of a live event done in past and the instructor will be available to answer your questions during/after the webinar.
  • If you still face the polling problem please don’t panic and provide your response in the chat and we shall consider the same for processing for credits. You can download Zoom by clicking on the mentioned link : https://zoom.us/download
  • Our courses meet the global Continuing Professional Development (CPD-IES7) Standard for Chartered Accountants with International Education Standard 7 (IES 7) set by The International Federation of Accountants (IFAC), the International Accounting Education Standards Board (IAESB) and the Association of Chartered Certified Accountants (ACCA). Based on our accreditation by existing IFAC members and affiliates, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • You can manage your continuing education certificates and credits through your certificate dashboard which is available when you are logged in to your account (LOGIN)
  • As an accredited provider of Continuing Professional Education in the United States, myCPE online learning platform, courses, and webinars meet the requirements set forth by the Institute of Management Accountants (IMA), an IFAC Member Organization, as well as the National State Boards of Accountancy (NASBA) and the Institute of Internal Auditors (IIA), both IFAC Affiliates. As well as it has been approved by NASBA, Internal Revenue Service (IRS), Certified Financial Planner Board (CFP Board), California Tax Education Council (CTEC), Society of Human Resource Professional (SHRM), Human Resource Certification Institute (HRCI) and many more.Therefore, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable continuing education requirement as CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • myCPE Courses are taken by : CPA | CMA | CFE | CIA | CPA(Yellow Book)| CFP | CFA | CPA (Govt.) | EA | CRTP | MRTP | ORTP | ABV | CITP | CVA | PFS | CFF and others.

Ratings and Review

4.2

99 Ratings

Excellent

37

Very Good

45

Average

13

Poor

4

Terrible

0

MP

Mike Payne, CPA (US), JD

Aug 26th, 2021

Best instructor ever!

OA

Oluwole Awoyemi, CFE, CISA

Nov 16th, 2021

It was great

MS

Marie Sutton, CPA (US)

Jan 27th, 2021

The speaker spoke at a perfect pace, the content was very rich and engaging. The presenter made sure each and every point was explained very well. Easy to understand guidance. Thank you Michael.

CG

Cameron Gwinn

Sep 22nd, 2021

N/A

BH

Bret Harenza, CPA (US)

Jun 23rd, 2021

If the instructor was a little more dynamic, this material could have been covered in 4 hours. The pace of the class was brutally slow.

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