Author : | Jae K. Shim, Ph.D., CPA |
Status : | Production |
CPE Credits : | 2.0 |
IRS Credits : | 0 |
Price : | $17.95 |
Passing Score : | 70% |
NASBA Technical: | Yes |
Primary Subject-Field Of Study: | Accounting - Accounting 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 online CPA accounting 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 : |
ASC 250 Accounting Changes and Error Corrections
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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 : |
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 |