Accounting Changes and Error Corrections
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 course is sourced from the requirements found within FASB ASC Topic No 250, Accounting Changes and Error Corrections.

Course Publication Date: March 12, 2024

This course is available with NO ADDITIONAL FEE if you have an active self study membership or all access membership or can be purchased for $20.00!

Author:Kelen Camehl
Course No:ACT-CHERROR-8004
Recommended CPE:2.00
Delivery Method:QAS Self Study
Level of Knowledge:Overview
Advanced Preparation:None
Recommended Field of Study:Accounting
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.

CPE Depot Inc. 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:

Sponsor Number: 109423


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