This course will teach participants the basics of cybersecurity awareness: how to safeguard sensitive data, address cybersecurity threats within a firm, and use AICPA best practices to manage and obtain assurance of cybersecurity risks. Learn the key provisions of the revenue topic and how to identify and apply the new five-step revenue recognition model, describe the disclosure requirements, as well as discuss transition and business implications of the guidance.
DESIGNED FOR
All accounting and financial professionals looking to gain additional knowledge on data analytics in a general sense as well as through practical analysis, in both industry and public practice.
BENEFITS
- Explain the cybersecurity threat landscape and its economic costs
- Identify evolving state regulatory and legal rules related to cybersecurity
- Apply the core principles of cybersecurity awareness to limit cybersecurity risk
- Describe the AICPA’s cybersecurity risk management framework and CPE responsibilities
- Provide reasonable assurance related to third-party consultants and cloud providers
- Educate the firm and clients on cybersecurity basics, risk management, and best practices
- Recognize how the new revenue guidance differs from legacy revenue guidance
- Identify and describe the five steps involved in applying the revenue recognition model
- Identify and describe selected industry implementation guidance developed by the AICPA
- Identify the disclosures required in the ASU for both public and non-public entities
- Identify the transition requirements to be applied
HIGHLIGHTS
- Overview of data analytics
- Understanding data systems
- Discussion on specialized technologies to aid in the audit plan
- Interrogating data and practical application of specialized technologies
- Objectives and scope of Topic 606
- Five-step revenue recognition model
- Selected industry implementation guidance related to Topic 606
- Presentation and disclosure related to Topic 606
- Transition guidance and business implications of Topic 606
COURSE LEVEL
Basic
PREREQUISITES
None
ADVANCE PREPARATION
None
ADDITIONAL NOTES
Course materials are distributed electronically. To access the materials visit
My Events. Download to your laptop or tablet prior to the seminar, handouts are added as received.