Audit: Evaluating Audit Results [Video]

Brad is joined by Frank Boutillette to discuss FASB’s joint venture proposal and crypto assets decision, the AICPA Enhanced Audit Quality Initiative areas of focus for 2023 and recent SEC updates.*** This episode qualifies for nano CPE credit. Find out more at https://njcpa.org/nano. ***Resources:• FASB Seeks Input on Proposed Improvements to Accounting for Joint Venture Formations - https://njcpa.org/stayinformed/hubs/topics/full-article/2022/10/27/fasb-seeks-input-on-proposed-improvements-to-accounting-for-joint-venture-formations• FASB Decides on Accounting Method for Crypto Assets - https://www.cpapracticeadvisor.com/2022/10/13/fasb-proposes-accounting-method-for-crypto-assets/71714/• What CPAs need to know about NFTs - https://www.journalofaccountancy.com/issues/2022/oct/what-cpas-need-to-know-about-nfts.html• AICPA resources on enhancing audit quality - https://us.aicpa.org/content/aicpa/eaq.html• SEC Adopts Rules to Enhance Proxy Voting Disclosure by Registered Investment Funds and Require Disclosure of “Say-on-Pay” Votes for Institutional Investment Managers - https://www.sec.gov/news/press-release/2022-198• NJCPA Accounting & Auditing Knowledge Hub – https://njcpa.org/hub/accounting • Join the NJCPA Accounting & Auditing Standards Interest Group – https://njcpa.org/groups ========================================Watch all IssuesWatch Podcast episodes at https://www.youtube.com/playlist?list=PLJ2syuG5TiiZOFQdURLJUDzGJVz17ZPthSUBSCRIBE FOR MORE CPA VIDEO TIPS AND NEWS - https://www.youtube.com/c/njcpa?sub_confirmation=1LET'S CONNECT:NJCPA http://www.njcpa.orgFACEBOOK https://www.facebook.com/njscpaTWITTER https://twitter.com/njcpaLINKEDIN https://www.linkedin.com/grp/home?gid=165152INSTAGRAM https://www.instagram.com/thenjcpa

In this cash conversion cycle tutorial, we'll go over the finer details of what it means, its formula and step-by-step calculations. Following that, we will calculate the cash conversion cycle using the Colgate Case Study and interpret the findings. You can download the Colgate Cash Conversion Cycle template from this link - https://www.wallstreetmojo.com/ratio-analysis-template/What is Cash Conversion Cycle?--------------------------------------------The cash conversion cycle measures the time it takes for a company to turn its inventory and other inputs into cash. It takes into account how much time the company needs to sell inventory, collect receivables, and pay its bills. Formula--------------------------------------------Cash Conversion Cycle Formula = Days Inventory Outstanding (DIO) + Days Sales Outstanding (DSO) – Days Payable Outstanding (DPO) Interpretation of Cash Conversion Cycle --------------------------------------------- A shorter cash conversion cycle is beneficial to a company since it allows it to buy, sell, and receive cash from customers more quickly and vice versa.For more details, you can refer to our article - https://www.wallstreetmojo.com/cash-conversion-cycle/ Connect with us! YouTube https://www.youtube.com/channel/UChlNXSK2tC9SJ2Fhhb2kOUwLinkedIn https://www.linkedin.com/company/wallstreetmojo/mycompany/Facebook https://www.facebook.com/wallstreetmojoInstagram https://www.instagram.com/wallstreetmojoofficial/?utm_medium=copy_linkTwitter https://twitter.com/wallstreetmojo

While identifying risk and performing audit procedures are important parts of an audit, evaluating the results of those procedures are just as important. If audit results aren’t evaluated, then an audit opinion cannot be issued! This CPE-eligible (1.0 CPE) eLearning course discusses what an auditor must perform and consider when evaluating the results of an audit, including important information on misstatements, audit evidence and documentation. Take our self-study eLearning course here: https://www.gaapdynamics.com/product/evaluating-audit-results/ Learn more about GAAP Dynamics here: https://www.gaapdynamics.com/ Check out our other online courses on the GAAP Dynamics Learning Library: https://www.gaapdynamics.com/individual-learning/

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