This course provides an overview of the accounting requirements with respect to accounting principle changes. 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. 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.
Learning Objectives
Upon successful completion of this course, participants will be able to:
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 disclosure requirements related to changes in accounting principles
Major Topics
Changes in Accounting Principle
Accounting for the Change in Accounting Principle
Justifying a Change in Accounting Principle
Change in Accounting Principle
Disclosures Required for Changes in Accounting Principles
Change in Accounting Estimate
Change in Reporting Entity
Accounting Standards Updates
