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.
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