2024 MSCPA Annual Convention: Details

Analytical Procedures: Methods and Evaluation 2024

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Thursday, June 6, 2024 @ 10:00am – 1:30pm
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Description

Analytical procedures evaluate financial information through the examination of plausible relationships among both financial and non-financial data. They also encompass such investigation, when necessary, of the identified fluctuations or relationships that are inconsistent with other relevant information or that differ from expected values by a significant amount.

Prerequisites

None

Highlights

• Review of the appropriate audit and review standards • Identifying appropriate analytical procedures in the circumstances • Developing expectations • Designing and performing analytical procedures • Investigating results of the procedures performed • Introduction to data analytics

Objectives

• Recognize financial statement areas where analytical procedures can be used effectively • Determine the appropriate procedures to perform and which financial ratios and benchmarks to evaluate in consideration of the company's industry statistics and the economic environment • Identify the circumstances when additional investigation of the results of the procedures is required

Preparation

None

Credits

Category Amount
Accounting&Auditing 4.00