
QAS Self-Study

Overview

CPE Credits
1 Credits: Accounting
Course Description
Occasionally, a company will find that it must alter its accounting to reflect a change in accounting principle or estimate – or it may locate an accounting error that must be corrected. These changes can have a substantial impact on the reported results of a business from period to period, which can make financial statements much less comparable over time. Accounting Changes and Error Corrections describes the situations in which it is necessary to make adjustments to prior period financial statements, and indicates situations when adjustments are only needed for the current period or in future periods. The differing treatments of changes in accounting principle, accounting estimate, and reporting entity are noted, as is the concept of materiality, which pertains to the correction of accounting errors.
Learning Objectives
Upon successful completion of this course, participants will be able to:
- Recognize the situations in which an accounting principle should be changed.
- Identify the situations in which retrospective application is required.
- Note the different types of accounting errors.
- Recognize the disadvantage of applying changes on a prospective basis.
Course Specifics
Course ID 1153426 |
Revision Date May 22, 2023 |
Number of Pages 25 |
Prerequisites There are no prerequisites. |
Advanced Preparation None |
Compliance information
CMA Notice: Western CPE makes every attempt to maintain our CMA CPE library, to ensure a course meets your continuing education requirements please visit Insitute of Management Accountants (IMA)
CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board. CFP Professionals must take each course in it’s entirety, the CFP Board DOES NOT accept partial credits for courses.
Course Instructor

Steven M. Bragg, CPA, is a full-time book and course author who has written more than 250 business books and courses. He provides Western CPE with self-study courses in the areas of accounting and finance, with an emphasis on the practical application of accounting standards and management techniques. A sampling of his courses include the The New Controller Guidebook, The GAAP Guidebook, Accountants’ Guidebook, and Closing the Books: An Accountant’s Guide. He also manages the Accounting Best Practices podcast. Steven has been the CFO or controller of both public and private companies and has been a consulting manager with Ernst & Young and …
Accounting Changes and Error Corrections
$29.00 – $49.00

QAS Self-Study

Overview

CPE Credits
1 Credits: Accounting
Course Description
Occasionally, a company will find that it must alter its accounting to reflect a change in accounting principle or estimate – or it may locate an accounting error that must be corrected. These changes can have a substantial impact on the reported results of a business from period to period, which can make financial statements much less comparable over time. Accounting Changes and Error Corrections describes the situations in which it is necessary to make adjustments to prior period financial statements, and indicates situations when adjustments are only needed for the current period or in future periods. The differing treatments of changes in accounting principle, accounting estimate, and reporting entity are noted, as is the concept of materiality, which pertains to the correction of accounting errors.
Learning Objectives
Upon successful completion of this course, participants will be able to:
- Recognize the situations in which an accounting principle should be changed.
- Identify the situations in which retrospective application is required.
- Note the different types of accounting errors.
- Recognize the disadvantage of applying changes on a prospective basis.
Course Specifics
Course ID 1153426 |
Revision Date May 22, 2023 |
Number of Pages 25 |
Prerequisites There are no prerequisites. |
Advanced Preparation None |
Compliance information
CMA Notice: Western CPE makes every attempt to maintain our CMA CPE library, to ensure a course meets your continuing education requirements please visit Insitute of Management Accountants (IMA)
CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board. CFP Professionals must take each course in it’s entirety, the CFP Board DOES NOT accept partial credits for courses.
Course Instructor

Steven M. Bragg, CPA, is a full-time book and course author who has written more than 250 business books and courses. He provides Western CPE with self-study courses in the areas of accounting and finance, with an emphasis on the practical application of accounting standards and management techniques. A sampling of his courses include the The New Controller Guidebook, The GAAP Guidebook, Accountants’ Guidebook, and Closing the Books: An Accountant’s Guide. He also manages the Accounting Best Practices podcast. Steven has been the CFO or controller of both public and private companies and has been a consulting manager with Ernst & Young and …
Accounting Changes and Error Corrections
$29.00 – $49.00