Revenue/Accounts Receivable Audit In A Snap (Brief)

Learn and understand Revenue/Accounts Receivable Audit in Brief

What you'll learn

Entire Revenue Cycle and how to Audit it

Discussion of Read world cases where revenue frauds have happened in past

Understanding of Risk assessment procedure for Revenue and Accounts Receivables

If you are appearing for interview, this will give you brief understanding about revenue audit.

Requirements

No Prerequisites

Description

A course on revenue and accounts receivable audit for Udemy would provide a comprehensive understanding of the audit process for ensuring the accuracy and integrity of a company's financial statements. Specifically, the course would cover the following key topics:Identifying and assessing risks: The course would cover how to identify and assess the risks associated with revenue and accounts receivable. This would include identifying risks associated with the company's industry and business environment, as well as risks specific to the revenue and accounts receivable process.Testing internal controls: The course would cover the importance of testing internal controls as a means of mitigating risks identified during the risk assessment process. Topics covered would include the different types of internal controls and how to test them.Performing substantive audit procedures: The course would provide a detailed explanation of the substantive audit procedures used to test the accuracy and completeness of revenue and accounts receivable. Topics covered would include procedures such as analytical procedures, testing of transactions, and testing of balances.Audit best practices: The course would cover best practices for performing a revenue and accounts receivable audit. This would include topics such as documentation, sampling, and communication with management.Common issues encountered: The course would cover common issues encountered during revenue and accounts receivable audits, such as fraud and misstatement, and provide guidance on how to identify and address these issues.Reporting and documentation: The course would provide guidance on how to report and document the findings of a revenue and accounts receivable audit. This would include the preparation of audit work papers, the writing of audit reports, and the communication of findings to management and other stakeholders.This course would be useful for students interested in auditing, accounting, and finance and provides a hands-on understanding of the audit process, and the knowledge and skills required to perform a revenue and accounts receivable audit.

Overview

Section 1: Introduction

Lecture 1 Revenue Cycle

Lecture 2 Revenue Cycle Accounts

Lecture 3 Performing Risk Assessment procedure in Revenue Cycle

Lecture 4 Criteria to recognize revenue

Lecture 5 Complex Sales Transactions to recognize revenue.

Lecture 6 Arthocare - Importance of Professional Skepticism

Lecture 7 Accounts Receivables - Identifying Inherent Risk

Lecture 8 Fraud Schemes

Lecture 9 Real cases of frauds schemes

Lecture 10 Identifying Fraud Risk Factors

Lecture 11 Decentralized Accounting function at WorldCom

Lecture 12 Identifying Control Risk

Lecture 13 Control Risk Assessment Questionnaire

Lecture 14 Using Ratios in Preliminary Analytical Procedures

Lecture 15 Note

Students appearing for interview,Professionals who want to understand revenue audit in a brief