Accounting Changes and Error Corrections
Field of Study:
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 dramatic impact on a company’s financial
statements. This course covers the accounting, reporting, and disclosures associated with changes in accounting
principles (method), estimates, and reporting entities as stipulated in ASC 250-10-05, Accounting Changes and Error
After completing this course you will be able to:
- What the different types of accounting changes are.
- How accounting principles apply in the accounting for changes.
- How to handle retrospective accounting changes.
- How to the accounting for changes in estimates.
- How to account for changes in a reporting entity.
- How to do the accounting for correction of errors.
- How to analyze the effect of errors.
Basic to Intermediate
Type of delivery method:
Recommended CPE credits:
Final examination expiration date:
The program participant will have one year from the date of purchase to complete the course and final examination.
Web CPE is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of 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: www.nasbaregistry.org