Accounting Changes and Error Corrections
Master the rules governing accounting changes and error corrections with confidence. This course shows you when to restate prior financial statements and when to apply changes prospectively. You will distinguish among changes in accounting principle, estimate, and reporting entity, and apply proper treatments for correcting previously issued statements. Gain a clear understanding of materiality and its impact on error evaluation. Build a practical toolkit that enables you to resolve complex reporting issues accurately and efficiently.
Format
PDF Course
Course Lists
Duration
1 Hour
Course Information
Author: Steven Bragg
Course Number: AC1092
Learning Objectives
- Recognize the situations in which an accounting principle should be changed.
- Identify the situations in which retrospective application is required.
- Specify the different types of accounting errors.
- Recognize the disadvantage of applying changes on a prospective basis.
Level: Overview
Instructional Method: QAS Self-Study
NASBA Category: Accounting
Prerequisites: None
Advance Preparation: None
Latest Review Date: April 2024
Program Registration Requirements: Click on the Enroll button to pay for and access the course. You will then be able to download the course as a PDF file, then take an on-line examination, and then download a certificate of completion if you pass the examination.
Program Refund Policy: For more information regarding administrative policies concerning complaints, refunds, and other matters, see our policies page.
