Overview:
Accountants who work for manufacturing, wholesale and retail companies deal with a wide variety of challenges, including inventory, revenue recognition and industry-specific issues. This seminar addresses a broad spectrum of issues, including these cutting-edge areas:
- Revenue, expense and liability recognition
- Fraud and earnings management issues
- Receivables, securitizations and financing
Objective:
To provide accountants, auditors and analysts with a comprehensive understanding of the accounting issues that affect manufacturing, wholesale and retail operations. This seminar discusses characteristics, as well as economic and accounting issues, common to these industries to empower financial professionals with the know-how to be highly effective.
Emphasis:
- Inventories—valuations and methods
- Warranties, guarantees and returns
- Receivables—collectibility, financing arrangements and securitizations
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Revenue, earnings management and expense recognition issues
– Timing of transactions
– Specialized forms of sales and financing
– Separability of product, installation, warranty and other sale components
– Advertising, R&D and barter transactions
– FASB Revenue Recognition Project - Impairments—tangibles and intangibles
- Retirement obligations
- Special issues for high-tech companies
- Special issues for franchisees and franchisors
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Fraud
– Prevention and system design
– Audit issues - FASB Concepts Statement 7 and the use of fair value
- Consolidations
- International convergence
