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Auditing Revenue Recognition: How to Prevent ?

EVENT DATE:

Feb 24,2022

PRESENTER(s): Dr. Robert K Minniti

1:00 PM ET | 12:00 PM CT | 10:00 AM PT | 120 Minutes
  • Webinar Instruction will be emailed on your registered email address 3 days prior to webinar
  •  | 
  • Web Download / e-Transcript will be shared in 7 working days from the date of webinar

This program has been approved IRS CPE Credit 2(Taxes)

Are you up to speed on the new recognition standards and the audit procedures to use to ensure your audit client is compliant with the new revenue recognition standards? This course is designed for individuals who would like to obtain a better understanding of auditing for revenue recognition or who would like to review the standards. Although we will touch on cash basis accounting to show the differences this course will concentrate on GAAP accounting, specifically the revenue recognition requirements in ASC 606. We will review the revenue recognition standards and the audit procedures for auditing revenue recognition under GAAP

Learning Objectives:

  • New recognition standards
  • Audit procedures to use to ensure your audit client is compliant
  • GAAP accounting
  • Revenue recognition requirements in ASC 606
Participants will understand: 

Upon completion of this course, you will be able to:

  • Identify revenue recognition requirements per GAAP
  • Identify revenue recognition audit procedures
  • Describe acceptable way to estimate the standalone selling price in a contract
  • Differentiate types of contracts and how they apply in various scenarios
  • Recognize what should recorded as revenue for a company
  • Describe the five core principles for revenue recognition
  • Identify requirements of a customer contract
  • Describe standalone selling price
  • Recognize requirements in a contracts for recognizing revenue

Credits and Other information:

  • Recommended CPE credit – 2.0
  • Recommended field of study – Auditing
  • Session Prerequisites and preparation: None
  • Session learning level: Basic
  • Location: Virtual/Online
  • Delivery method: Group Internet Based
  • IRS Course ID: PJGWS
  • Attendance Requirement:  Yes
  • Session Duration: 2 Hours
    • Case Studies and Live Q&A session with speaker
    • PowerPoint presentation for reference

Who Will Benefit:

  • This course is appropriate for CPAs, CMAs, CIAs, CFEs, CFFs, and MAFFs
  • Internal Auditors
  • External Auditors
  • Managers
  • Staff Accountants
  • CFOs and others responsible for revenue recognition decisions

Speaker Profile:

Robert K. Minniti DBA, CPA, CFE, Cr.FA, CVA, MAFF, CFF, CGMA, PI
Dr. Minniti is the President and Owner of Minniti CPA, LLC. Dr. Minniti is a Certified Public Accountant, Certified Forensic Accountant, Certified Fraud Examiner, Certified Valuation Analyst, Certified in Financial Forensics, Master Analyst in Financial Forensics, Chartered Global Management Accountant, and is a licensed private investigator in the state of Arizona.

Dr. Minniti received his doctoral degree in business administration from Walden University, received his MBA degree and Graduate Certificate in Accounting from DeVry University’s Keller Graduate School of Management, and received his Bachelor of Science in Business Administration degree from the University of Phoenix. Dr. Minniti taught graduate and undergraduate courses in forensic accounting at DeVry University, Grand Canyon University, Kaplan University, Northwestern University, and the University of Phoenix. He designed graduate and undergraduate courses for Grand Canyon University, Northwestern University, and Anthem College.

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