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Course Details

Accounting Changes and Error Corrections - by Steven Bragg (Course Id 842)

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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 :
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

    • Recognize the situations in which an accounting principle should be changed.
    • 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

Accounting Course 842 Home: https://www.cpethink.com/accounting-cpa-courses
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