Surgent's Accounting Changes and Error Corrections

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Location: Online

2Credits

Accounting and Auditing

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Product Code: SU24-ACAE-SSDL

Level: Basic

Vendor: Surgent

Field of Study: Accounting

Overview:

This course provides an overview of the accounting requirements with respect to accounting changes and error corrections and the reporting implications within an entity's 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.

Objectives:

List the different types of accounting changes and how they affect an entity’s 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

Major Topics:

FASB ASC Topic No 250, Accounting Changes and Error Corrections
Accounting changes and error corrections taking the shape of:
- Changes in accounting principle;
- Changes in accounting estimates;
- Changes in reporting entity;

Designed For:

Practitioners who want to better understand FASB ASC Topic No 250, Accounting Changes and Error Corrections

Prerequisite:

None

Additional Info:

You will receive an email from [email protected] with instructions on how to log onto your course shortly. If you do not receive the email within the hour, please check your spam filter.

For technical support, registration questions or other customer service-related inquiries, please call (800) 778-7436 or email [email protected]. Phones are staffed from 8:30 a.m. to 5:00 p.m. Eastern Time, Monday through Thursday, and 8:30 a.m. to 4:00 p.m. Eastern Time on Friday.