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Course No: 141022

Accounting Changes and Error Corrections

$30

  • Credits: 3.0
  • Program level: Intermediate
  • Prerequisites: Basic Accounting
  • Advance preparation::

Field of Study: Accounting

Course 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.

Learning objectives

  • a:1:{i:0;s:73:"Identify the different types of accounting changes and error corrections.";}
  • a:2:{i:0;s:70:"Recognize how to account for accounting changes and error corrections.";i:1;s:67:"Identify the effect of errors in prior-period financial statements.";}

Course Material: Online Material

Type of delivery method: QAS Self-study

Final examination expiration date:

The program participant will have one year from the date of purchase to complete the course and final examination.

We are Register with

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.

Web CPE is registered with the IRS to provide Continuing Education (CE) programs to the Enrolled Agents and other tax return practitioners.

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