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Course Details

Accounting Changes and Error Corrections - 2016 (Course Id 863)

Updated / QAS / Registry   Add to Cart 
Author : Jae K. Shim, Ph.D., CPA
Status : Production
CPE Credits : 2.0
IRS Credits : 0
Price : $19.95
Passing Score : 70%
Primary Subject-Field Of Study:

Accounting - Accounting and Auditing for Course Id 863

Description :

A companys 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 companys 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.

Usage Rank : 0
Release : 2016
Version : 1.0
Prerequisites : Basic Accounting.
Experience Level : Overview
Additional Contents : Complete, no additional material needed.
Additional Links :
Advance Preparation : None.
Delivery Method : Self-Study.
Intended Participants : Anyone needing Continuing Professional Education (CPE).
Revision Date : 27-Dec-2016
NASBA Course Declaration : Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam.
Approved Audience :

NASBA QAS - NASBA Registry - 863

Keywords : Accounting, Accounting, Changes, Error, Corrections, 2016, cpe, cpa, online course
Learning Objectives :


Course Learning Objectives

After studying this course you will be able to:
    1. Recognize the different types of accounting changes.
    2. Identify the accounting changes and disclosures necessary for changes in inventory method.
    3. Recognize a change in a reporting entity and the effect of a change in accounting estimate.
    4. Identify examples of a correction of an error in previous financial statements and analyze the effect of errors.
Course Contents :

Chapter 1 - Accounting Changes and Error Corrections

Course Learning Objectives

Change in Accounting Principle (Method)

Change in Accounting Estimate

Change in Reporting Entity

Review Questions - Section 1

Error Corrections

Types of Errors

Illustrative Example of Error Correction

Required Disclosure for Error Restatements

Considerations and Significance of Restatements

Summary of Guidelines for Accounting Changes and Errors

Types of Accounting Errors

ASC, FASB, and Difference between GAAP and IFRS

Review Questions - Section 2

Glossary

Accounting Course 863 Home: https://www.cpethink.com/accounting-cpa-courses
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