CPE Credit Hours: 3
Field of Study: Accounting
Publication date: August 2022
A company’s 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 a dramatic impact on a company’s financial statements.
This course provides a comprehensive overview of the accounting treatments and disclosure requirements pertaining to accounting changes and error corrections as stipulated in ASC 250 Accounting Changes and Error Corrections. It discusses the different types of accounting changes and error corrections and the related reporting implications within an entity’s financial statements. Specifically, it includes excerpts from and references to ASC 250, interpretive guidance, and examples. It also provides insights from the Securities and Exchange Commission (SEC) staff.
This is a self-study CPE course.
Program level: Intermediate
Prerequisites: Basic Accounting
Advanced Preparation: None Required Minimum Final Examination Passing Grade: 70%
Maximum Time Allowed To Complete Program: One Year From Date Of Purchase
