Course Detail

Level I - Basic Staff Training


Role of New Staff - Identifying the factors accounting for the growth of local and regional firms in the past decade, participants become aware of the changing nature of the profession. After recognizing that “taking the total service approach” is the key to growth, participants identify the ways in which new staff can contribute to the success of both themselves, and their firm.

Understanding Audit Objectives - Through guided discussion, participants identify the major steps in the audit process and the alternatives that are available throughout the process. Audit objectives are identified and discussed. The nature of and the circumstances under which tests of transactions and tests of balances are performed are discussed.

Working Paper Techniques / Cash - In a session scheduled on the first day of the program, participants critique a set of working papers in an area that they are familiar with-cash. Participants first identify the most common deficiencies found in the working papers of new staff. Then through guided discussion and exposure to electronically generated working papers, participants learn the most practical means of overcoming these deficiencies. In the process, participants become aware of the characteristics and benefits of using electronic working papers. Techniques developed in this session are reinforced throughout the course.

Analytical Procedures - Guided discussion is used to introduce participants to the purposes served and the fundamental techniques employed in performing analytical procedures. Participants are assigned a case study in which they utilize these techniques to first identify and then follow up on accounts where special problems may exist.

Compilation and Review Services - Participants identify and discuss the different levels of assurance and responsibility associated with compilations, reviews and audits. Minimum levels of knowledge required in performing compilations and reviews are identified. The kinds of procedures performed on compilations and reviews and the circumstances under which they are performed are identified and discussed. Participants are given an unadjusted trial balance taken from the books of a closely-held corporation along with selected information about certain accounts. Utilizing this information, small groups of participants identify accounts needing possible adjustments, discuss the various alternatives available under GAAP, and then prepare adjusting entries that will permit the preparation of financial statements in accordance with GAAP.

Tax Recognition and Research Techniques - The twofold objectives of this session are to improve each participant’s skills at Identifying situations common to small and medium-sized clients that have tax implications Performing noncomplex tax research to resolve questions associated with each situation. Working with the same small company case used in the Compilation and Review Services module, participants first identify numerous situations with tax implications and then perform basic tax research in a tax reference manual, such as the Master Tax Guide, in order to either resolve each tax question or recommend more in-depth research.

Auditing - Reviewing Selected Accounts In several sessions devoted to various balance sheet accounts, emphasis is placed on: Identifying the audit and/or reviewing objectives applicable to a given account Designing and implementing those procedures that will, in the most efficient and effective manner, provide sufficient evidence to meet the specified objectives Small group case analysis is used to help participants improve the skills they need in effectively and efficiently auditing receivables, payables and inventories


16.00 Credits

  • Accounting (3.60)
  • Auditing (11.40)
  • Business Management and Organization (1.00)


To improve inexperienced staff members’ knowledge, skills and attitude to enable them to be more productive and profitable on audits, reviews and compilations.




Richard Ferdinand, CPA, specializes in providing financial and general management services to the small- and medium-sized business markets (SMBs). Mr. Ferdinand has served as Chief Financial Officer ranging from full time, interim or on a consulting basis for companies in various industries that are either early stage or mature, as well as requiring turnaround assistance. He is a past recipient of the Outstanding Instructor Award from the AICPA and a recipient of the Education Foundation’s Award for Instructor Excellence and the Meritorious Service Award. He has previously taught part time at UCLA in the undergraduate and graduate business programs. Mr. Ferdinand is a licensed CPA in California and was formerly with Deloitte & Touche in Los Angeles. A native of New Jersey, Mr. Ferdinand graduated from Colgate University and received his MBA from the University of Chicago.

Designed For:

Staff with 0 - 12 months experience

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