Course ID: DRR

Deceptive Revenue Recognition and Other Accounting Techniques – Recognizing the Warning Signs

Don’t join the growing list of accounting professionals in trouble. We will discuss: ? The accounting “stories” behind over 40 famous financial statement frauds, such as Fannie Mae, McAfee, Parmalat, Tyco, Waste Management, and WorldCom ? Deceptive accounting practices ? The warning signs of problems in areas such as revenue recognition, related parties, significant estimates, capital items versus expenses, choices among accounting methods, and improper activity to evade taxes


LEARNING OBJECTIVES
  • Participants will be able to: ? Identify creative accounting practices used to deceive financial statement users ? Identify those risk characteristics normally associated with fraudulent financial reporting ? Emphasize improper revenue recognition practices and techniques to identify them

MAJOR TOPICS

? Back to the basics-GAAP revisited ? Live cases dealing with improper revenue recognition and other misleading practices ? When is revenue “real” ? Related parties and other off-balance sheet schemes ? Reserves, accruals, writedowns, and asset impairments ? Significant estimates ? Capitalized assets and inventory ? Fair value abuses


DESIGNED FOR
Practitioners in industry and in public practice.

FIELD OF STUDY
Accounting

PREREQUISITES
None

COURSE PRODUCER
Loscalzo Associates

CPE CREDITS
8.0

LEVEL
Basic

This course is available for your group as:

Group Live
 

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