Project Integration Mngt
Why should decision makers trust financial statements?
USD 10.00
Learning Objectives:
- Understand the reasons that financial statements might not be fairly presented.
- Describe the mission of the Securities and Exchange Commission (SEC).
- Explain the purpose of the EDGAR (Electronic Data Gathering and Retrieval) system.
- Discuss the times when state laws apply to corporate securities rather than the rules and regulations of the SEC.
- Explain the relationship of the SEC and the Financial Accounting Standards Board (FASB).
- Understand the purpose of an independent audit.
- List the two primary components of an independent audit.
- Explain the function of an independent audit firm.
- Describe the steps required to become a Certified Public Accountant (CPA).
- List the various services provided by many public accounting firms.
- Discuss the necessity for the creation of the Public Company Accounting Oversight Board (PCAOB) and describe its function.
- Describe the goal of an auditor in examining an account balance.
- List audit tests that might be performed on an account receivable total.
- Understand the reason that an independent auditor only provides reasonable assurance and not absolute assurance.
- Define “internal control.”
- Explain a company’s need for internal control policies and procedures.
- Describe the effect that a company’s internal control has on the work of the independent auditor.
- Describe the purpose of the independent auditor’s report.
- Identify the intended beneficiaries of an independent auditor’s report.
- Discuss the contents of the introductory, scope, and opinion paragraphs in an independent auditor’s report.
- List problems that might impact the contents of an independent auditor ’s report.
- Indicate the method used by decision makers to determine whether an independent auditor has been unable to issue an unqualified opinion.
Other course details:
- This is an introductory course that does not require any prerequisite.
- This course can be taken on a standalone basis.
- This course is chapter 6 in the book titled "Financial Accounting".
- It provides 2 PDUs (Technical Skills) towards your PMP professional development education.
Course Features
Credits:
2 PDU
Skill Section:
Strategic & Business Management
Access:
Lifetime
Test Questions:
15