How to Audit Revenue

2 Credits: Auditing


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How to Audit Revenue

Course Level
CPE Credits

2 Credits: Auditing

Course Description

This course is an essential resource for auditors seeking to deepen their understanding and skills in revenue auditing. It provides a thorough analysis of the characteristics of revenue and outlines the sequential steps required for effective auditing. Delving into revenue recognition rules and addressing complex areas such as consignment arrangements and customer acceptance issues, the course ensures auditors are well-versed in these critical aspects. Additionally, it offers strategies to identify and tackle revenue fraud and insights into maintaining robust revenue controls. The practical knowledge gained from this course not only enhances theoretical understanding but also translates into improved auditing practices, ensuring auditors can confidently navigate the nuances of revenue auditing and contribute to the integrity of financial reporting.

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Learning Objectives

Upon successful completion of this course, participants will be able to:

Chapter 1

  • Recognize the various accounts that comprise an organization’s revenue.
  • Describe the different types of revenue fraud arrangements.
  • Cite the methods used by an auditor to audit revenue.

Chapter 2

  • Identify the circumstances under which a contract does and does not exist.
  • Recognize the steps used in the revenue recognition process.
  • Describe how and when the expected value method is used.
  • Recognize the accounting rules that apply to noncash assets, nonrefundable fees, and customer acceptance.
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Course Specifics

Course ID
Revision Date
August 7, 2023

There are no prerequisites

Advanced Preparation


Compliance Information

NASBA Provider Number: 103220

CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board. CFP Professionals must take each course in it’s entirety, the CFP Board DOES NOT accept partial credits for courses.

Meet The Experts

Steven M. Bragg, CPA, is a full-time book and course author who has written more than 300 business books and courses. He provides Western CPE with self-study courses in the areas of accounting and finance, with an emphasis on the practical application of accounting standards and management techniques. A sampling of his courses include the The New Controller Guidebook, The GAAP Guidebook, Accountants’ Guidebook, and Closing the Books: An Accountant’s Guide. He also manages the Accounting Best Practices podcast. Steven has been the CFO or controller of both public and private companies and has been a consulting manager with Ernst & Young and …