Well-defined revenue recognition guidelines, insights, and practical management tips designed to address the complexities of FASB ASC 606.
Learning Objectives
- Learning Outcomes
- Recognize the general concept of an audit, its importance, and what an auditor does and does not do in performing an audit.
- Identify the importance of the concepts of independence and professional skepticism in an audit.
- Recall the principles that apply to auditors contained in the AICPA Code of Professional Conduct.
- Recall and distinguish between the definitions of attest and assurance services and the related levels of service.
- Recognize the various standard setters and the professional standards they promulgate.
