Corporate Revenue Accounts Review and Audit Best Practices

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Course Description
Course Qualification
Presenter
Faq

Course Description

Overview

Why the focus on revenue accounts?

2 mins
Why the focus on sales accounts?

19 mins
Sales accounts audit

28 mins
Sales transection information

43 mins
Customer purchase order

62 mins
when to recognize revenue

80 mins

Course Description

Revenue recognition is a significant risk that requires special audit considerations for financial statement auditing purposes. Revenue is one area that is particularly susceptible to fraud because its manipulation can make a company appear to be an attractive investment target and result in fabulous bonuses paid out to its executives. Hence, accountants and internal auditors’ have a crucial role to play in preventing revenue manipulation by ensuring that proper revenue policies and procedures are being followed.

This webinar avails you with an overview of how to ensure revenue recognition has followed all the updated standards. Further, it offers some of the best practices in corporate revenue account review being used today.

Major Topics Covered:

Simplifying revenue policies and procedures
The pros and cons of random audits
Avoiding the month-end close review crunch
Using online management reporting systems
Best practices in revenue allocation and deferral
Best use of rolling revenue forecasts
Centralizing your revenue account review function
Internal controls for fraud detection
Internal audits
Inserting a fair value into the revenue recognition cycle
Timeliness of revenue recognition issues
Revenue data collection and analysis of best practices
This webinar will provide tips and techniques for obtaining sufficient and appropriate audit evidence to support efficient revenue recognition and its audit conclusions.

Learning Objectives

To explore the Key information and documentation the auditor always wants
To identify what else could the auditor ask for?
To recognize how much you should tell the auditor
To identify what NOT to say to the auditor
To recognize what the auditor will ask your boss and how to be ready for that

Who Should Attend?

Accountant
Accounting Firm
Accounting Managers
Certified Public Accountant
CPA (Industry)
CPA - Mid Size Firm
CPA - Small Firm
Young CPA

Course Qualification

Webinar Qualifies For

2 CPE Credit of Accounting & Auditing for Certified Internal Auditors (CIA)
2 CPE Credit for Certified Management Accountants (CMA)
2 CPE Credit of Auditing for Certified Public Accountants (CPA-US)
2 CPE Credit of Auditing for Certified Public Accountants (CPA-US)
2 CPD Credit for Chartered Professional Accountant (CPA Canada)

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

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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.
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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.
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