The general ledger (GL) is the core of the financial reporting system. Since the GL holds nearly all the financial information used to create the financial statements, it often contains massive amounts of data. This session provides useful tests and techniques designed to increase efficiency when analyzing GL data. Attendees will learn best practices for importing, using Field Statistics for GL assertions, recording a macro, using Benford’s Law test, analyzing entries, performing keyword searches/extractions and more.
One hour (1 CPE)
1:00 PM - 2:00 PM Central
Kathryn Horton, CPA, CMA, CIDA
Audit Manager, Marcum LLP
Kathryn is an Audit Manager at Marcum LLP and recipient of the 2017 U.S. IDEA User of Excellence Award. Horton plays an active role in implementing data analytics into 100 percent of audit engagements. She has used IDEA in resourceful ways to perform analysis on general ledgers, calculate depreciation expenses for fixed assets, reduce sample sizes for cumbersome audit areas, Employee Benefit Plan audits and International Financial Reporting Standards (IFRS) projects. Kathryn has also spearheaded an internal initiative to help staff incorporate data analytics into their work.
After completing this training, participants will learn:
New testing ideas for the GL to ensure data integrity and identify anomalies
Efficient ways to test GL data through various analysis functions, including the use of macros
How to leverage resources available through CaseWare Passport, specifically the IDEA Script Vault
Audimation Services, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of the continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: nasbaregistry.org
CPAs may contact us by email at [email protected] to receive promotional materials containing details on the required elements of the National Registry of CPE Sponsors.