How to Audit Revenue
This course clarifies for the auditor every action needed to audit revenue. It describes the characteristics of revenue from an auditing perspective, and then goes on to describe the steps required to audit revenue. Background information concerning revenue recognition is also included, such as revenue recognition rules, consignment arrangements, customer acceptance issues, revenue fraud, and revenue controls.
Format
PDF Course
Level
Overview
Duration
2 Hours
Course Information
Author: Steven Bragg
Course Number: AU1017
Table of Contents
Chapter 1. Auditing Revenue
Chapter 2. Revenue Rules
Learning Objectives
- Recognize the various accounts that comprise an organization’s revenue.
- Describe the different types of revenue fraud arrangements.
- Identify the methods used by an auditor to audit revenue.
- Identify the circumstances under which a contract does and does not exist.
- Recognize the steps used in the revenue recognition process.
- Describe how and when the expected value method is used.
- Recognize the accounting rules that apply to noncash assets, nonrefundable fees, and customer acceptance.
Level: Overview
Instructional Method: QAS Self-Study
NASBA Category: Auditing
Prerequisites: None
Advance Preparation: None
Latest Review Date: May 2024
Program Registration Requirements: Click on the Enroll button to pay for and access the course. You will then be able to download the course as a PDF file, then take an on-line examination, and then download a certificate of completion if you pass the examination.
Program Refund Policy: For more information regarding administrative policies concerning complaints, refunds, and other matters, see our policies page.