Surgent's Auditing Revenue Recognition (Audit Skills Training - Level 3) (A3M6)

Description

Revenue recognition is presumed to be a significant risk requiring special audit consideration for financial statement auditing purposes. This module will provide tips and techniques for obtaining sufficient and appropriate audit evidence to support conclusions.

Highlights

• Generally accepted accounting principles related to sales, including the new revenue recognition model
• Using analytic procedures to identify and respond to risk of material misstatement related to sales
• Common revenue recognition fraud schemes and potential audit responses
• Installment sales and multiple element arrangement special considerations
• Audit responses to significant risks requiring special audit consideration

Objectives

• Discuss typical revenue recognition risks
• Explain linkage of assessed risk of material misstatement to detailed audit plan for revenue recognition
• Describe multiple element transactions, bill and hold sales, right of return, and other special revenue recognition considerations
• Explain the impact of changing accounting standards

Designed For

Accountants responsible for auditing revenue recognition