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Surgent's Auditing Accounts Payable, Accrued Expenses and Debt

 Currently available
 
2.0
26 / S-60014
Registration is Open
Member Price
$89.00 Regular Registration
Your Price
$93.00 Regular Registration
Designed For:

Accountants responsible for auditing accounts payable, accrued expenses and debt

Prerequisite:

None

This module will discuss the audit of accounts payable, accrued liabilities and typical debt arrangements found in nonpublic entities. Contingencies, income taxes and more complex debt arrangements are covered in other modules. The audit of liabilities normally focuses on the timing of a purchase of an asset, recognition of expense or recording of a deposit to recognize accounts-accounts payable and accrued liabilities, GAAP requires that liabilities be recorded at the point of the passage of title to the goods or with the receipt of benefit from the performance of services. In the case of debt when the entity signs a loan or similar agreement and draws down funding a liability exists. In some cases, the entity may be obligated for fees and such even when funds have not been drawn. (Please Note: This module is part of Surgent's Audit Skills Training: Level 1.)

Delivery Method: On-Demand Webcast
CPE Credit: Auditing
Program Level: Basic

This course is being offered by a 3rd party vendor and will not be accessible on your My CPE page. Webinar access information will be emailed directly to you by Surgent McCoy.

Objectives

  • Identify the accounting treatment for accounts payable, accrued liabilities and debt typically found in less complex private entities and not-for-profits (more complex debt is discussed in another module)
  • Identify the internal controls responsive to accounts payable, accrued liabilities and debt
  • Understand the risks involved in accounts payable, accrued liabilities and debt at the assertion level
  • Tailor the audit plan in response to assessed risk of material misstatement
  • Evaluate results from a search for unrecorded liabilities
  • Assess the propriety of accrued estimates
  • Evaluate debt covenant compliance

Advanced Preparation

None

Vendor

The Virginia Society of CPAs (VSCPA) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: NASBARegistry.org.

For more information regarding refund, complaint, program cancellation or other policies, visit our Registration Policies page or call (800) 733-8272.