In this course you will be participate in a typical inventory observation. Through a series of video clips, you'll see how an observation should be designed and executed and, you'll be given the chance to apply this knowledge to a real-life case study. The knowledge you acquire will enable you to: evaluate whether your client's inventory count is well-planned, determine what steps management should take to ensure an accurate count, and figure out what, if anything, is missing from their plan.
Learning Objectives
Apply generally accepted accounting principles for inventory
Recognize the risks involved with auditing inventory
Describe the purpose of performing an inventory observation
Describe physical inventory counting procedures that ensure an accurate count
Perform a physical inventory observation
Key Topics
Risks surrounding inventory balances
Inventory observation design and execution
Applying professional skepticism to inventory observations
Who will it benefit?
These courses establish a strong set of skills necessary to grow the abilities and confidence of junior and senior level staff, allowing them to work through additional areas more independently.
$ 85.00
AICPA Member Price: $ 69.00
Course is unavailable for purchase.
NASBA Field of Study
Accounting and Auditing
Level
Intermediate
CPE Credits
2.5
Prerequisites
None
Delivery Method
QAS Self-Study
Advance Preparation
None
Last Updated
02/02/2017
JENASE2_15C
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