Description

Examine methods to prepare fair financial reports while protecting yourself from accusations of fraud. Using practical case studies, you'll learn to apply FASB standards and concept statements to prepare financial statements that meet user expectations. You'll also study the relationship between risks, controls and financial reporting. Consider how earnings management, the new revenue standard, and other factors impact the risk of fraud. Formerly titled: Controls, Risks and Financial Reporting

Presented by Richard Ferdinand, Kenneth Garrett

Target Audience

 Internal accountants, financial executives and accountants in public practice.

Course Objectives

• Recognize characteristics of useful financial statements
• Recognize characteristics of fraud in financial reporting
• Identify implicit assertions in financial statements
• Determine risks that affect financial reporting related to fraud and other factors
• Identify financial reporting controls
• Determine ways to minimize the risk associated with fraud in financial reporting
• Identify ways to avoid the consequences of failing to meet the expectations of financial statement users

Subjects

• Financial reporting fraud
• Financial reporting objective
• Earnings management
• Accounting standards
• Financial reporting controls
• FASB Concept Statements

Prerequisites

Experience with preparing or reviewing financial reports.