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Kaplan University School of Professional and Continuing Education Kaplan University School of Professional and Continuing Education

Dangers of Improper Revenue Recognition (DIR2)

2-Hour Program

WHY ATTEND THIS COURSE?

Headline after headline points out how pervasive improper revenue recognition is. Finally, the FASB has added a project to revisit revenue recognition. Through lecture and short case write-ups, this program will identify improper revenue recognition techniques. In addition, the program will address quality of earnings…so much in the forefront in this scandal-ridden environment.

DESIGNED FOR...

Practitioners in industry and in public practice.

OBJECTIVE

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
  • Apply accounting rules the right way

MAJOR SUBJECTS

  • General revenue recognition principles
  • New revenue recognition guidance as a result of a joint FASB/IASB project
  • Accounting for product financing arrangements
  • Accounting for sales of real estate
  • Software revenue recognition
  • Service transactions and construction contracts
  • Improper revenue recognition: A problem for the profession
  • Other deceptive revenue recognition practices

COURSE ACRONYM: DIR2

PRESENTATION METHOD: Group-live

LEVEL OF KNOWLEDGE: Basic

PREREQUISITES:

  • None

ADVANCE PREPARATION: None

FIELD OF STUDY: Accounting

RECOMMENDED CPE CREDIT: 2 hours


Qualifies for the 24-hour Yellow Book requirement if an auditor has FASB Yellow Book clients. Determination as to the qualification of certain courses for the Yellow Book 24-hour requirement should be made on an auditor-specific basis depending on that auditor’s Yellow Book clients. Note that the determination of course qualification is a matter of an auditor’s professional judgment in consultation with appropriate individuals in the audit firm. The 24 hours are a subset of the 80-hour requirement.

NOTE: This course is available as an 8-hour and 4-hour, and 2-hour program:

• Deceptive Revenue Recognition and Other Accounting Techniques – Recognizing the Warning Signs (DRR)
• Deceptive Accounting Practices (DAP4)
• Dangers of Improper Revenue Recognition (DIR2)


CPE Sponsor icon

SmartPros®, A Kaplan Company and Loscalzo Institute, A Kaplan Company are 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 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.