Revenue Recognition–Risks NOT in the New Standard (2 hours)

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Jun 10, 2020

Registration: 2:30 PM / Program: 3:00 PM - 5:00 PM Pacific Time

Fees

Member Fee: $0.00
Nonmember Fee: $0.00

Available Discounts

AICPA Member: None
Full time Accounting Educator: None

Description

Do you know why the reasons management and clients manipulate revenue are frequently OUTSIDE the accounting records? This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

Designed For

CEOs, CPAs, bankers, executives, internal auditors, regulators, controllers, CFOs, attorneys, compliance officers, risk managers

Objectives

After attending you will be able to:
  • Find the non-financial risks of revenue manipulation
  • Recognize where the financial statements are at risk
  • Link financial and non-financial metrics to minimize malpractice liability

Major Subjects

Using 10 real cases, Gary will show you why the new monster accounting standard on revenue recognition misses simple yet crucial risks that incent entities to manipulate revenue.
  1. Pricing risks
  2. Legal risks
  3. Finding revenue of omission
  4. Risk to revenue from advertising
  5. Risk from the audit requirement to "understand the entity"
  6. How even a small amount of revenue is material
  7. Why customer payment doesn't mean that revenue was legally earned
  8. How non-financial metrics are a red flag to revenue manipulation
  9. How to link usually separate analytical procedures to find revenue fraud
  10. How to use contracts and bank loans to identify revenue risk

This event has already passed. If you have any questions, please contact us at 503-641-7200 or email profdev@orcpa.org.