How to Audit Revenue (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 revenue. It describes the characteristics of revenue from an auditing perspective, and then goes on to describe the steps required to audit revenue. Background information concerning revenue recognition is also included, such as revenue recognition rules, consignment arrangements, customer acceptance issues, revenue fraud, and revenue controls.

Author: Steven Bragg

Course Number: AU1017

Table of Contents
Chapter 1. Auditing Revenue
Chapter 2. Revenue Rules

Learning Objectives

  • Recognize the various accounts that comprise an organization’s revenue.

  • Describe the different types of revenue fraud arrangements.

  • Identify the methods used by an auditor to audit revenue.

  • 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.

Level: Overview

Instructional Method: QAS Self-Study

NASBA Category: Auditing

Prerequisites: None

Advance Preparation: None

Latest Review Date: May 2024

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.