Instructor for this course

This course provides a comprehensive overview of the accounting requirements with respect to accounting changes and error corrections and the related 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.  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

  • Recognize the different types of accounting changes and how they affect an entity’s financial statements.
  • Explore and 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.
  • Explore and 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.
Last updated/reviewed: November 27, 2020

3 Reviews (13 ratings)Reviews

Anonymous Author
Even though it was a text based course, it was very informative and understanding; highly recommend.
Member's Profile
Course notes flowed well and the structure of the text was easy to follow and reference
Anonymous Author
Text was well laid and and organized. Easy to follow


Course Complexity: Intermediate

No advanced preparation or prerequisites are required for this course.

Education Provider Information

Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Course Syllabus
  PDFAccounting Changes and Error Corrections