Accounting Changes and Error Corrections

Overview

This course covers accounting changes and error corrections, including their impact on financial statements. It discusses changes in accounting principles, estimates, and reporting entities, as well as correcting errors and restatement considerations, based on FASB ASC Topic 250.

Find this course for your license

License or Certification

Regulator

Objectives

identify types of accounting changes and how they affect an entity’s financial statements
differentiate between the requirements for accounting changes
identify the steps involved in the assessment for an error correction
differentiate between the iron curtain and rollover methods for quantifying an error correction
recognize the different types of restatements required as a result of accounting changes

Designed For:

Practicing CPAs, both in public accounting and business and industry -- controllers, accountants, and other financial accounting personnel

WebCE® is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org. For more information regarding WebCE administrative policies such as refunds, cancellations and concerns, please contact Support Services at 877-488-9308.

Course Information

Adding additional credit may change exam requirements.

Prerequisites:	General understanding of accounting principles
Advanced Preparation:	None

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