In this lesson, the focus is on understanding the auditor's responsibility for subsequent events, memorizing the timeline for such events, and comprehending the relationship between the financial statement date and the auditor's responsibility. The lesson covers both management and auditor perspectives and explains the application of a dual data report. Nick Palazzolo also shares various examples of subsequent events, such as a warehouse fire or a lawsuit, and whether they require accrual or disclosure. By the end of the lesson, the viewer should know the key examples provided and be ready to tackle questions on subsequent events in the exam.
Lesson: Subsequent Events Summary
Instructor: Nick Palazzolo
In this lesson, the focus is on understanding the auditor's responsibility for subsequent events, memorizing the timeline for such events, and comprehending the relationship between the financial statement date and the auditor's responsibility. The lesson covers both management and auditor perspectives and explains the application of a dual data report. Nick Palazzolo also shares various examples of subsequent events, such as a warehouse fire or a lawsuit, and whether they require accrual or disclosure. By the end of the lesson, the viewer should know the key examples provided and be ready to tackle questions on subsequent events in the exam.
Updated: June 22, 2023 Create an account
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Engagement Planning, Understanding an Entity, & Understanding its Internal Control
Module:
2 Concepts,
36 Lessons
Going Concern
8:46
Accounting Estimates
4:02
Pending Litigation
4:52
Accounting Changes
19:21
