Overview
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Change in Accounting Estimate
5 mins
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Change in Accounting Estimate Cont'd
8 mins
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Accounting for Change in Estimate
16 mins
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Estimate in Taxation
26 mins
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Depreciation - Method Changes
39 mins
Course Description
The financial markets depend on high quality financial reporting. A fundamental pillar of high quality public financial
reporting is reliable, comparable financial statements that are
free from material misstatement.
Accounting changes and errors in previously filed financial statements
can affect the comparability of financial statements.
In this online CPE webinar, we will provide an overview of the types of
accounting changes that affect financial statements, as well as the disclosure
and reporting considerations for error corrections.
An accounting change can be a change in an accounting principle, an
accounting estimate, or the reporting entity.
An error in recognition, measurement, presentation, or disclosure in
financial statements resulting from mathematical mistakes, mistakes in
application of GAAP, or
oversight or misuse of facts that existed at the time the financial statements
were prepared.
This online continuing education course will examine both the accounting
and tax implications of accounting changes and errors. FASB provides different
guidance depending on the type of accounting change. We will explore the major
types of accounting changes including change in estimate, change in accounting
principles, and change in reporting entity. We also discuss the correction of
an error.
The online CPE/CE course will also focus to examine how accounting
changes and errors impact taxes including a review of the Form 3115. You’ll
leave this CPE course with an understanding of how to properly account for
errors and changes for both tax and GAAP.
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webinars on | Accounting &
Auditing |Tax Updates
Key topics covered in this online CPE/CE webinar:
- Accounting treatment for change in Accounting
Principle;
- Accounting treatment for change in Accounting
Estimates;
- Accounting treatment for change in Reporting Entity;
and
- Accounting treatment for correction of an Error in previously
issued Financial Statements.
- Tax implications of Accounting Changes and Errors
Learning Objectives
- to list some of the instances where estimates may be used for tax purposes.
- To identify how the treatment of an error and the treatment of an accounting change differ on the tax return.
- To describe the key characteristics of automatic changes on Form 3115.
- To identify the type of accounting change for a transaction.
- To describe the accounting for accounting changes.
Recommended For
This
online CPE webinar is recommended for CPA, CMA, CIA, EA, AFSP, and Other
Accounting and Tax professionals desiring to learn about accounting and tax
implication for accounting changes and errors
Who Should Attend?
- Accountant
- Accounting Firm
- Accounting Managers
- Certified Management Accountant (CMA)
- Certified Public Accountant (CPA)
- CPA (Industry)
- CPA - Mid Size Firm
- CPA - Small Firm
- CPA in Business
- Senior Accountant
- Staff of Accounting Firm
- Young CPA
