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Monday, August 25, 2025 Live Webcast

Auditing the Basics: Cash and PP&E (E2508122)

9:00 AM - 12:30 PM EDT

Registration: 8:30 AM EDT

webcast

Vendor Platform

4 CPE Credits in AA

OVERVIEW

This course covers two of the more basic financial statement line items auditors are assigned: cash and cash equivalents and property, plant, and equipment (PP&E). These topics tend to be straightforward with less complexity and risk than other areas. In addition, there is little subjectivity involved outside of the entity directly building its own PP&E or using the assets under a lease agreement. Regardless, persuasive audit evidence from a third-party or direct inspection is generally available in both cases. Auditors should approach cash with the same professional skepticism as other areas, since there is always the risk of material misstatement. For PP&E, the auditor must understand internal controls that prevent and detect misstatements and auditing techniques responsive to the assessed risk and disclosure. This course discusses the risks and audit considerations necessary to successfully audit these two accounts.

This course features a live instructor and has been specifically designed for the NJCPA.

DESIGNED FOR

Professionals new to auditing cash and cash equivalents

BENEFITS

  • Identify risks related to cash and cash equivalents and PP&E
  • Identify sources of audit evidence associated with cash and cash equivalents & PPE
  • Describe typical presentation and disclosure issues related to cash and PP&E
  • Identify internal controls to prevent, detect, and correct misstatements in property and equipment
  • Tailor an audit plan to respond to assessed risk of material misstatement
  • Understand the key controls related to PP&E and cash and cash equivalents

HIGHLIGHTS

  • Typical audit risks and special considerations related to cash and cash equivalents
  • How to identify the risk of fraud related to cash and cash equivalents
  • Designing a detailed audit plan, linking assessed risk to planned procedures
  • Techniques used to perform the audit procedures and obtain evidence associated with auditing cash and cash equivalents and PP&E
  • Case study and “test yourself” questions related to auditing cash and cash equivalents
  • Internal control related to property, plant, and equipment and cash and cash equivalents
  • Construction of assets including capitalizing interest
  • Lease accounting requirements and disclosure of right-of-use assets

COURSE LEVEL

Basic

PREREQUISITES

None

ADVANCE PREPARATION

None

INSTRUCTOR

Robert Bedwell

Robert P. Bedwell, CPA

Bob is an accounting and finance professional with over 39 years of audit and accounting experience. Bob’s experience includes a full range of corporate accounting and assurance services, including financial statement preparation, auditing, SEC reporting, mergers and acquisitions, divestitures, due diligence, financing regulatory compliance, accounting system oversight, internal controls, IFRS conversions, Sarbanes-Oxley compliance advisory, and the independent review of external data. He is currently director of administrative services at Progressive Care Inc. in Hallandale Beach, Florida. Bob has been a discussion leader on numerous topics for Surgent Professional Education, the Florida Institute of Certified Public Accountants, and the American Institute of Certified Public Accountants, as well as for the firms for which he has worked, and has received high evaluations for his knowledge of topics and presentation skills. Subject areas for which Bob has served as a discussion leader (and, in some cases, author) include: professional ethics; fraud risk; and a variety of accounting and auditing overviews and standards updates. Bob received his Bachelor of Science in accounting and finance from Upsala College in East Orange, New Jersey, and has also earned a master’s degree in accounting from Florida Atlantic University. Licensed as a Certified Public Accountant in Florida, Bob is a member of the Florida Institute of Certified Public Accountants (FICPA) and the American Institute of Certified Public Accountants. He has previously served as chairman of the FICPA Accounting Principles and Auditing Standards Committee.

PRICING

$199.00 - Member

$274.00 - Nonmember

Register Today


Note: Online pre-registration will close on August 25 at 8:30 AM.

ADDITIONAL OPTIONS

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COURSE DEVELOPER

Surgent