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Course Details

How to Audit Liabilities (Course Id 1316)

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Author : Steven Bragg, CPA
Status : Production
CPE Credits : 1.0
IRS Credits : 0
Price : $12.95
Passing Score : 70%
NASBA Technical: Yes
Primary Subject-Field Of Study:

Auditing - Auditing for Course Id 1316

Description :

The How to Audit Liabilities course describes the characteristics of liabilities from an auditing perspective, and then goes on to describe the activities required to audit many types of liabilities, including accounts payable, accrued liabilities, and debt. There is a particular emphasis on the search for unrecorded liabilities. Background information concerning the accounting for liabilities is inserted into the text as needed.

Usage Rank : 0
Release : 2017
Version : 1.0
Prerequisites : None.
Experience Level : Overview
Additional Contents : Complete, no additional material needed.
Additional Links :
Advance Preparation : None.
Delivery Method : Self-Study
Intended Participants : Anyone needing Continuing Professional Education (CPE).
Revision Date : 22-Jan-2018
NASBA Course Declaration : Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam.
Approved Audience :

NASBA QAS - NASBA Registry - 1316

Keywords : Auditing, How, Audit, Liabilities, cpe, cpa, online course
Learning Objectives :

Course Learning Objectives

  • Recognize the key characteristics of liabilities.
  • Note the circumstances in which inherent risk is considered to be more likely.
  • Cite the different activities that can be used to examine accrued liabilities.
  • Describe the different types of analytical procedures that can be applied to liabilities.
  • Recognize the accounting rules related to loss contingencies and the fair value option.

Chapter 1
Auditing Liabilities

  • Recognize the key characteristics of liabilities.
  • Note the circumstances in which inherent risk is considered to be more likely.
  • Cite the different activities that can be used to examine accrued liabilities.
  • Describe the different types of analytical procedures that can be applied to liabilities.

    Chapter 2
    Accounting for Liabilities

  • Recognize the accounting rules related to loss contingencies and the fair value option.
  • Course Contents :

    Chapter 1 - Auditing Liabilities

    Auditor Objectives

    Auditing Characteristics of Liabilities

    Auditing Activities

    Inherent Risk Assessment

    Material Misstatement Assessment

    Substantive Procedures

    Obtain Payables and Debt Listing

    Vouch Payables and Debt

    Test the Valuation of Debt

    Confirm Payables and Debt

    Confirm Authorizations

    Examine Other Liabilities

    Conduct Analytical Procedures

    Search for Unrecorded Liabilities

    Evaluate Debt Provisions

    Identify Related Parties

    Review Presentation

    Internal Controls Used by the Client

    Timing of Auditing Activities

    Additional Activities for the First Audit

    Review Questions

    Chapter 2 - Accounting for Liabilities

    Loss Contingencies

    Amortization of Premiums and Discounts

    Fair Value Option

    Review Questions

    Glossary

    Auditing Course 1316 Home: https://www.cpethink.com/auditing-cpa-courses
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