Shop Courses > Accounting Changes and Error Corrections

Accounting Changes and Error Corrections#3647

This course has been archived and cannot be purchased.

Credit
Amount
CPA
1

Course Description

Course publication/revision date: This course was updated on 8/25/2015.

The Accounting Changes and Error Corrections course describes the situations in which it is necessary to make adjustments to prior period financial statements, and when adjustments are only needed for the current period or in future periods. The differing treatments of changes in accounting principle, accounting estimate, and reporting entity are noted, as well as how to deal with the correction of errors in previously issued financial statements. The course also addresses the concept of materiality, which pertains to the correction of accounting errors.