How to Audit Receivables ON DEMAND
Available Until
Your Desk
2.0 Credits
Member Price $58.00
Non-Member Price $67.00
Overview
Many organizations sell goods and services to their customers on a delayed payment basis, usually because doing so is the accepted practice within their industries. This practice results in accounts receivable, which may form a substantial part of the total assets of a firm. In, How to Audit Receivables, author Steven Bragg examines the characteristics of receivables from an auditing perspective and notes the auditing activities that can be applied to the receivables area, including the allowance for doubtful accounts and notes receivable.
Highlights
Auditing Receivables. The Allowance for Doubtful Accounts. Accounting for Notes Receivable.
Prerequisites
None.
Designed For
CPAs, controllers, accountants, financing professionals, business owners, and managers.
Objectives
Recognize the characteristics of notes receivable. Note the different types of related parties. Cite the types of fraud related to receivables. Describe the process of risk assessment used by an auditor. Recognize when alternative audit procedures should be used. Recognize the substantive procedures used in relation to receivables. Describe the contents of a confirmation letter. Note the circumstances under which a negative confirmation could be used. Recognize the contents of the allowance for doubtful accounts. Note the proper accounting for a note receivable.
Preparation
None.
Notice
None.
Leader(s):
Leader Bios
Steven Bragg, Western CPE
Steven M. Bragg, CPA, is a full-time book and course author who has written more than 70 business books. He provides Western CPE with self-study courses in the areas of accounting and finance, with an emphasis on the practical application of accounting standards and management techniques. A sampling of his courses include the The New Controller Guidebook, The GAAP Guidebook, Accountants’ Guidebook, and Closing the Books: An Accountant’s Guide. He also manages the Accounting Best Practices podcast.
Steven has been the CFO or controller of both public and private companies and has been a consulting manager with Ernst & Young and an auditor with Deloitte & Touche. He holds an MBA from Babson College, a Master of Finance from Bentley College, and a BA from the University of Maine (summa cum laude).
Non-Member Price $67.00
Member Price $58.00