||Field Of Study
| On-Demand Webinar© / Group Internet Based
|Basic to Intermediate
||SM-106 / QAS-SM-106
||Sam Monastra CPA, MBA
Accounting Changes & Error Analysis 2015
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 Corrections: Overall (FAS-154, Accounting Changes and Error Corrections—A Replacement of APB Opinion No. 20 and FASB Statement No. 3).
- List the types of accounting changes.
- Describe the accounting for changes in accounting principles.
- Account for retrospective accounting changes.
- Describe the accounting for changes in estimates.
- Account for changes in a reporting entity.
- Describe the accounting for correction of errors.
- Analyze the effect of errors.