GAAP Hot Topics – What You Need to Know Chapter 7: Accounting Changes & Error Corrections (Text Based Course)

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. A majority of the information included within this chapter is sourced from the requirements found within ASC Topic No 250.