Overview

2.0 Credits
ONLINE

Dive deep into the nuances of FASB Accounting Standards Codification (ASC) Topic 250, "Accounting Changes and Error Corrections," in this specialized continuing education course tailored for accountants and auditors. As the financial reporting landscape continuously transforms, it is paramount for professionals to understand the intricacies of accounting for changes in principles and correcting identified material errors. Through a blend of case studies and practice examples, gain expertise in assessing, implementing and effectively communicating adjustments in compliance with ASC 250. This course not only offers insights into the requirements set by FASB but also provides practical tools to ensure transparency and accuracy in financial reporting.

Objectives

  • Understand the relevant accounting standards for changes in accounting principles and accounting for error corrections
  • Identify the type of changes that require prospective, retrospective, modified retrospective, or other approaches to update the financial statements under U.S. GAAP

 

Major Topics

  • FASB ASC 250
  • Error correction
  • Change in accounting principles

 

Prerequisite

None

Sessions

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Thursday, July 25, 2024

General Sessions
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