Managers, prospective managers, and any other employees seeking competency in the area of accounting
Prerequisites
A basic understanding of the accounting function
Course Aim
To provide students with an overview of the revenue cycle and the role of accounting within it
Learning Objectives
Explain the concept of revenue. Define the revenue cycle. Explain the timing of revenue recognition. Define gains and distinguish them from revenues. Explain how revenues are recorded. Explain how sales returns, sales allowances, and sales discounts affect a business's reported income. Describe how a business estimates and reports its uncollectible accounts
Topics Covered
Understanding Revenue - Basic revenue concepts - Recording revenue - Uncollectible accounts Reporting in the Revenue Cycle - Recording and reporting revenues and gains - Errors and controls
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