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

Related Party Transactions – A Recurring Issue (RPT2)

2-Hour Program

WHY ATTEND THIS COURSE?

Related party transactions are often the most difficult for accountants and auditors to manage due to these transactions not being separately identified when transaction activity takes place. Related party transactions are often used to commit fraud and more often are simply hidden by management because they do not want third parties to be aware of these transactions. This program will identify the accounting and disclosure guidance associated with related party transactions (ASC 850), address form over substance-related party transactions, provide examples of related party frauds, and describe best practices for identifying undisclosed related party transactions. Related party disclosures will also be addressed.

DESIGNED FOR...

Accountants in public practice and industry.

OBJECTIVE

Participants will be able to identify, account, and disclose related party transactions.

MAJOR SUBJECTS

  • A closer look at related party transactions and the related accounting guidance
  • Related party frauds
  • Best practices, related party disclosures

COURSE ACRONYM: RPT2

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.


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.