• Course Information
    4.4 (2038)

    Title: Accounting Changes and Error Corrections
    Category: Accounting and Auditing
    Field of Study: Accounting
    Course Code: A022-0388
    CPE Credits: 3.0
    Price: $27.95
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Description

Description:
A company's financial statements sometimes report significantly different results from year to year. This may be due to changes in economic circumstances, but it may also be due to changes in accounting methods or corrections of errors in recording past transactions. Changing the accounting method used can have a dramatic impact on a company's financial statements. This course provides a comprehensive overview of the accounting treatments and disclosure requirements pertaining to accounting changes and error corrections as stipulated in ASC 250 Accounting Changes and Error Corrections. It discusses the different types of accounting changes and error corrections and the related reporting implications within an entity's financial statements. Specifically, it includes excerpts from and references to ASC 250, interpretive guidance, and examples. It also provides insights from the Securities and Exchange Commission (SEC) staff.

Delivery Method: Online Interactive Self Study

Level: Intermediate

Prerequisites: None

Advanced Preparation: None

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Course Details

Author: Delta Publishing

Category: Accounting and Auditing

Field of Study: Accounting

Passing Score: 70%

Publication Date: 10/31/2022

Technical Details: Accounting: Technical

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Objectives

Objectives:
1. Identify the types of accounting changes
2. Recognize how to account for accounting changes
3. Recognize how different types of accounting changes affect the financial statements
4. Identify the steps involved in the required assessment for error corrections

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Profession

NASBA: Yes

QAS: Yes

CPA: Suitable for all CPAs

IRS: No IRS credit for Enrolled Agents.

Profession Identifiers : CPA, CMA

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