Accounting Changes and Error Corrections

Course Description:

This 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 (FAS-154, Accounting Changes and Error Corrections – A Replacement of APB Opinion No. 20 and FASB Statement No. 3)  

Learning Objectives:

Upon successful completion of this course, participants will be able to:

• List the types of accounting changes
• Describe the accounting for correction of errors
• Account for retrospective accounting changes
• Describe the accounting for changes in accounting principles
• Describe the accounting for changes in estimates
• Account for changes in a reporting entity
• Analyze the effect of errors