Accounting for Changes in Accounting Principles and Error Corrections
2.00 Credits
Member Price $89
Non-Member Price $114
Overview
This course is offered in collaboration with multiple state societies and is hosted by the Indiana Society of CPAs.
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, attendees will 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. Equip yourself with the latest knowledge and best practices in this essential area of accounting.
Highlights
• FASB ASC 250 • Error correction • Change in accounting principles
Prerequisites
None
Designed For
Accounting and auditing practitioners at all levels utilizing GAAP financial statements
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
Preparation
None
Leader(s):
Leader Bios
Martin Birr, AICPA
Martin J. Birr, CPA, CMA, CIA, MBA is Trustee Lecturer in Accounting in the Kelley School of Business at Indiana University Indianapolis. He received his MBA in Corporate Finance and Entrepreneurial Studies from Indiana University and BS in Accounting from Manchester College. Mr. Birr has taught various financial and cost accounting classes. He is a member of and frequent speaker for the Indiana CPA Society and the American Institute of Certified Public Accountants. Martin is a past member and chairman of the Indiana CPA Society’s Ethics Committee. He presents various accounting, ethics, and management seminars throughout the year and maintains an active consulting practice.
Non-Member Price $114
Member Price $89