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Course Details

Accounting Changes and Error Corrections - by Kelen Camehl (Course Id 1012)

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Author : Kelen Camehl, CPA, MBA
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 1012

Description :

This course provides a comprehensive overview of the accounting requirements with respect to accounting changes and error corrections and the related reporting implications within an entitys financial statements. The scope of accounting changes includes a discussion of changes in accounting principles, changes in accounting estimates, as well as changes of a reporting entity. The course also provides an overview of the accounting requirements of correcting errors in previously issued financial statements as well as restatement considerations. A majority of the information included within this course is sourced from the requirements found within FASB ASC Topic No 250, Accounting Changes and Error Corrections.

Usage Rank : 0
Release : 2016
Version : 1.0
Prerequisites : None.
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 : 16-Jun-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 - 1012

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

Course Learning Objectives

Upon completion of this course, you will be able to:
    List the different types of accounting changes and how they affect an entitys financial statements
    Differentiate between the requirements for the different types of accounting changes
    Identify the steps involved in the required assessment for a correction of an error
    Differentiate between the iron curtain and rollover methods for quantifying a correction of an error
    Recognize the different types of restatements required as a result of accounting changes
Course Contents :

Chapter 1 - Accounting Changes and Error Corrections

Course Overview

Course Learning Objectives

Introduction

Changes in Accounting Principle

Accounting for the Change in Accounting Principle

Review Questions

Justifying a Change in Accounting Principle

Change in Accounting Principle Illustrative Example

Disclosures Required for Changes in Accounting Principles

Change in Accounting Estimate

Change in Reporting Entity

Review Questions

Accounting for Correction of Errors

Internal Control Considerations

Accounting Standards Updates

Review Questions

Glossary of Terms

Accounting Course 1012 Home: https://www.cpethink.com/accounting-cpa-courses
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