Course Information

CPA CPE > Pennsylvania > CPA

Accounting Changes and Error Corrections: What Every CPA Needs to Know

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.

Summary Details

Hours

2.0

Price

$24.95

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Learning 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

Designed For:

CPAs and other accounting and finance professionals

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Course Information

Adding additional credit may change exam requirements.

Access Period:	12 months
Prerequisites:	General understanding of accounting principles
Advanced Preparation:	None
Delivery Method:	Self-Study
PDF Download:	Available
Provider of Record:	WebCE
Provider Number:	National Registry ID: 109414
Field of Study:	Accounting
Last Reviewed:	February 2025
Study Level:	Intermediate
Approved For:	Accounting & Attest

Exam

Proctor:	No
Passing Grade:	70
Questions:	10

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