Revenue Recognition: An Overview

- AICPA

Level:Intermediate
CPE Hours: 1
Prerequisites: Experience in financial reporting.

This course discusses the Treadway Commission's Fraudulent Financial Reporting: 1987-1997, An Analysis of U.S. Public Companies, and the Public Oversight Board's, Panel on Audit Effectiveness final report. It also discusses auditing standards that are applicable to revenue recognition and fraud.

Course Highlights

• FASB Statement of Financial Accounting Concept No. 5
• Existence of right of return
• Related parties
• Public Oversight Board
• Earning management
• Quality of earnings

Course Objectives

• Review the basics of revenue recognition.
• Be aware of Financial Accounting Standards Board Accounting concepts and statements applicable to revenue recognition.
• Be aware of other organizations that have addressed the issue of revenue recognition.

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