How to Audit Receivables (CPE Course)

CPE Credit: 2 hours

Course Type: Downloaded PDF materials with online test

Price (with PDF Textbook): $25

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Course Description
This course clarifies for the auditor every action needed to audit receivables. It describes the characteristics of receivables from an auditing perspective, and then goes on to describe the steps required to audit receivables. Background information concerning receivables is also included, such as the allowance for doubtful accounts, accounting for notes receivable, receivable fraud, and receivable controls.

Author: Steven Bragg

Course Number: AU1010

Table of Contents
Chapter 1. Auditing Receivables
Chapter 2. The Allowance for Doubtful Accounts
Chapter 3. Accounting for Notes Receivable

Learning Objectives

  • Recognize the characteristics of notes receivable.

  • Specify the different types of related parties.

  • Cite the types of fraud related to receivables.

  • Describe the process of risk assessment used by an auditor.

  • Recognize when alternative audit procedures should be used.

  • Recognize the substantive procedures used in relation to receivables.

  • Describe the contents of a confirmation letter.

  • Specify the circumstances under which a negative confirmation could be used.

  • Recognize the contents of the allowance for doubtful accounts.

  • Specify the proper accounting for a note receivable.

Level: Overview

Instructional Method: QAS Self-Study

NASBA Category: Auditing

Prerequisites: None

Advance Preparation: None

Latest Review Date: September 2023

Program Registration Requirements: Click on "Purchase Course" near the top of this page to pay for and access the course. You will then be able to download the course as a PDF file, then take an on-line examination, and then download a certificate of completion if you pass the examination.

Program Refund Policy: For more information regarding administrative policies concerning complaints, refunds, and other matters, see our policies page.

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AccountingTools, Inc. 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 the 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: www.nasbaregistry.org.

The NASBA sponsor identification number for Accountingtools, Inc. is 115881.

AccountingTools is an IRS Approved Continuing Education Provider. We are compliant with the requirements for continuing education providers (as described in sections 10.6 and 10.9 of the Department of Treasury’s Circular No. 230 and in other IRS guidance, forms, and instructions). Our IRS Approved Continuing Education Provider number is 72821.