Accounting Changes & Error Corrections

Price: $9.75

CPE Credits: 1.0

Category:

Course Number: AACHNGSB

accounting changes

Description:
This course clarifies for the accountant when accounting issues will require an adjustment to prior period financial statements, and when they only impact current or future reporting periods. The course does so by noting the differing treatments of changes in accounting principle, accounting estimate, and reporting entity. Coverage is also provided for the correction of errors in previously issued financial statements and the concept of materiality (which pertains to the correction of accounting errors). In short, this course provides the accountant with a complete toolkit of solutions for dealing with accounting changes and error corrections. Table of Contents

Delivery Method: Online QAS Self Study.

Level: Overview.

Prerequisites: None

Advanced Preparation: None

AuthorSteven Bragg

Publication: September 2015
Update: May 2018

Format: PDF
Pages: 29

Passing Grade: 70%

Exam Policies: Exam may be retaken. Course must be completed within one year of purchase.

CPE Sponsor Info : NASBA/QAS #109234. Click here to view specific state approvals.

By the end of the course participants should be able to:

  • Recognize the situations in which an accounting principle should be changed.
  • Identify the situations in which retrospective application is required.
  • Note the different types of accounting errors.
  • Recognize the disadvantage of applying changes on a prospective basis.

 

 

Description:
This course clarifies for the accountant when accounting issues will require an adjustment to prior period financial statements, and when they only impact current or future reporting periods. The course does so by noting the differing treatments of changes in accounting principle, accounting estimate, and reporting entity. Coverage is also provided for the correction of errors in previously issued financial statements and the concept of materiality (which pertains to the correction of accounting errors). In short, this course provides the accountant with a complete toolkit of solutions for dealing with accounting changes and error corrections. Table of Contents

Delivery Method: Online QAS Self Study.

Level: Overview.

Prerequisites: None

Advanced Preparation: None

AuthorSteven Bragg

Publication: September 2015
Update: May 2018

Format: PDF
Pages: 29

Passing Grade: 70%

Exam Policies: Exam may be retaken. Course must be completed within one year of purchase.

CPE Sponsor Info : NASBA/QAS #109234. Click here to view specific state approvals.

By the end of the course participants should be able to:

  • Recognize the situations in which an accounting principle should be changed.
  • Identify the situations in which retrospective application is required.
  • Note the different types of accounting errors.
  • Recognize the disadvantage of applying changes on a prospective basis.

 

 

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