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| Author : | Steven Bragg, CPA |
| Status : | Production |
| CPE Credits : | 1.0 |
| IRS Credits : | 0 |
| Price : | $14.95 |
| Passing Score : | 70% |
| Primary Subject-Field Of Study: | Accounting - Accounting and Auditing for Course Id 842 |
| Description : |
The Accounting Changes and Error Corrections course describes the situations in which it is necessary to make adjustments to prior period financial statements, and when adjustments are only needed for the current period or in future periods. The differing treatments of changes in accounting principle, accounting estimate, and reporting entity are noted, as well as how to deal with the correction of errors in previously issued financial statements. The course also addresses the concept of materiality, which pertains to the correction of accounting errors. |
| Usage Rank : | 0 |
| Release : | 2015 |
| Version : | 1.0 |
| Prerequisites : | None |
| Experience Level : | Overview |
| Additional Contents : | Complete, no additional material needed |
| Additional Links : |
Accounting Changes and Error Corrections by Steven Bragg
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| Advance Preparation : | None |
| Delivery Method : | Self-Study |
| Intended Participants : | Anyone needing Continuing Professional Education (CPE) |
| Revision Date : | 03-Sep-2015 |
| 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 - 842 |
| Keywords : | Accounting, Accounting, Changes, Error, Corrections, Steven, Bragg, cpe, cpa, online course |
| Learning Objectives : |
Course Learning Objectives
• 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. |
| Course Contents : | Chapter 1 - Accounting Changes and Error Corrections Introduction Changes in Accounting Principle Disadvantages of Retrospective Application Changes in Accounting Estimate Disadvantages of Prospective Application Changes in Reporting Entity Correction of an Error in Previously Issued Financial Statements Corrections Related to Prior Interim Periods The Materiality of an Error The Materiality Principle The SEC’s View of Materiality Accounting Changes and Error Corrections Disclosures Change in Accounting Principle Change in Accounting Estimate Change in Reporting Entity Error Corrections Prior Period Adjustments Historical Summaries Summary Chapter 1 - Review Questions Glossary |
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