IFRS: Accounting Changes and Error Corrections

Course Information

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Title:	IFRS: Accounting Changes and Error Corrections
Category:	Accounting and Auditing
Field of Study:	Accounting
Course Code:	M011
CPE Credits:	1.0
Price:	14.95

Description

Description:

IFRS Learning Modules are a series of courses that provide in-depth overviews of various topics related to International Financial Reporting Standards (“IFRS”). IFRS represents the global accounting principles that provide the foundation for most of the world’s financial reporting. These Standards establish the recognition, measurement, presentation and disclosure requirements for transactions and events reflected in IFRS financial statements.

Module 2 of the IFRS Learning Module series presents an overview of IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors and discusses the IASB’s and FASB’s efforts towards achieving convergence in these areas of financial reporting.

Delivery Method: Online Interactive Self Study

Level: Overview

Prerequisites: None

Advanced Preparation: None

Course Details

Category: Accounting and Auditing

Field of Study: Accounting

Passing Score: 70%

Technical Details: Accounting is a technical field of study.

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Objectives

Objectives:

Properly classify accounting changes (i.e. changes in accounting policy, changes in accounting estimates, and error corrections) per the guidelines of IAS 8.
Describe the recognition and disclosure requirements for each type of accounting change under IAS 8.
Describe the similarities and differences between IFRS and U.S. GAAP in the area of accounting changes.

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Profession

NASBA: Yes

QAS: Yes

CPA: Suitable for all CPAs

IRS: No IRS credit for Enrolled Agents.

Profession Identifiers: CPA