Surgent's Surging Auditors: Searching for Unrecorded Liabilities
Available Anytime
Location:
Online
1Credits
Accounting and Auditing
Registration is Open
FICPA Members
Nonmembers
$64.00 Regular Price
Product Code: SU24-SAU6-SSDL
Level: Basic
Vendor: Surgent
Field of Study: Auditing
Overview:
The manager for Home D‚cor and More (HDM) requests that participants conduct a search for unrecorded liabilities. The company experienced recent turnover in the accounts payable department so there is extra concern that all liabilities have been captured as of year-end. Participants will use their expertise to make resource requests from the HDM accounting team. Once they receive the supporting documentation, they will trace transactions to the detail to identify whether each selection is properly recorded as of year-end. The manager will share feedback on the results of the search!Objectives:
- Perform a search for unrecorded liabilities as of the balance sheet date
- Identify the accounting treatment for accounts payable, accrued liabilities and accrued expenses
- Understand the risks involved in accounts payable, accrued liabilities and accrued expenses at the assertion level
- Determine the appropriate audit evidence to obtain for the search for unrecorded liabilities
- Evaluate results from a search for unrecorded liabilities and make proposed adjustments based on the evaluation of the evidence
- Assess the propriety of accrued estimates and accounts payable
- Determine if proper cut-off procedures were followed
Major Topics:
- Optimal resource requests to support an appropriate search for unrecorded liabilities
- Tracing transactions to the detail to identify whether liabilities are properly recorded
- Evaluation of evidence to meet management’s assertions
Designed For:
Accounting professionals who want to practice decision making related to the search for unrecorded liabilities ?Prerequisite:
NoneAdditional Info:
You will receive an email from info@surgent.com with instructions on how to log onto your course shortly. If you do not receive the email within the hour, please check your spam filter.
For technical support, registration questions or other customer service-related inquiries, please call (800) 778-7436 or email info@surgent.com. Phones are staffed from 8:30 a.m. to 5:00 p.m. Eastern Time, Monday through Thursday, and 8:30 a.m. to 4:00 p.m. Eastern Time on Friday.