Free deals, coupons, discounts for learners

Post Top Ad

Tuesday, July 28, 2020

Audit - Financial Statement [Free 100% off premium Udemy course coupon code]

Image for course Audit - Financial Statement

Discount FREE 100% Off

Audit - Financial Statement

Learn the audit process from planning to audit report form a Certified Public Accountant (CPA).

What you'll learn?

  • How to plan an audit
  • The general format and structure of an audit team
  • Audit sampling procedures
  • Audit testing procedures related to inventory
  • The general format and structure of a public accounting firm
  • The format of audit reportes
  • Internal controls, tests of internal controls, and the role they play in the audit process
  • The concepts of professional conduct and independents
  • What an audit engagement in and the objectives of the audit engagement
  • Audit testing procedures related to prepaid expenses, intangible assets, & PP&E
  • Audit testing procedures related to the purchasing process
  • Audit testing procedures related to long term debt equity and cash
  • Audit testing procedures related to the revenue process
  • The concept of materiality and how it applies to audit planning and procedures
  • Audit testing procedures related to payroll and human resourses
  • How to assess risk and use risk assessment in the planning process
  • How learning the audit process can enhance an accountants understanding of financial accounting concepts
  • Substantive testing procedures

Requirements and What you should know?

  • Learners should have a basic understanding of accounting concepts and the double entry accounting system.

Who is this course for?

  • Professionals working in public accounting
  • Accounting students
  • Accounting professionals who work with auditors
  • Accounting professionals who want to expand their understanding of accounting

What is this course about?

Audit-Financial Accounting will discuss, in detail, the auditing process of financial statements.

The course will start by discussing what an audit is, as well as what the terms attest engagement and assurances services mean.

We will discuss the audit environment, the general format of a public accounting firm, and the general format of an audit team that would conduct the procedures related to an audit. The course will also discuss regulations and regulatory institutions related to the audit process.

The course will cover the planning process for an audit engagement. The planning process is a very important component of the audit because it will outline the steps that will be taking. The highest levels of the public accounting firm are generally involved in the planning process.

We will consider how to assess risk related to the audit using an audit risk Model. The risk assessment will help us plan the audit and determine where the auditors time can be spent most efficiently to gather evidence to support the auditor’s conclusion and opinion.

Learners will learn the different formats of audit evidence and how to document audit evidence so that it can be used as evidence to support the conclusion and opinion of the auditor.

We will exam the internal controls of the organization. Internal controls are policies set up by management to achieve the objectives of the organization. As auditors, we are primarily concerned with internal controls that will lower the risk of financial statements being materially misstated. If we can rely on internal controls as an auditor, we may be able to do more testing of the controls and less substantive testing, and this can be more efficient.

The course will discuss the audit sampling methods. When applying testing procedures, auditors often need to test a sample of a population and then apply the results to the population as a whole. Different sampling methods are appropriate for different situations and assertions being tested.

Next, we will talk about substantive tests. Substantive tests include tests that most people think of when they think of an audit, like pulling files, counting inventory, and performing procedures at the company’s place of business. Substantive testing will include testing account balances and transactions.

We will then cover audit procedures related to specific processes, including the revenue process, the purchasing process, and the payroll and human resources process.

Next will cover the audit process for specific accounts like inventory, prepaid expenses, intangible assets, property plant and equipment, long term debt & equity.

Then we will discuss the audit process related to cash, cash being a very important account because it is involved in almost every other accounting process at some point.

Learners will then learn how to put together a standard audit report. The standard audit report is called an unqualifies report. It is beneficial to actually memorize or have a good idea of the format of the standard unqualifies report. We can then think about variations on the standard unqualified report, adjusting it as necessary.

Free discount
Tuesday, July 28, 2020

We’ll never share your email address with a third-party.