Table of Contents

 

Course Learning Objectives. 3

Chapter 1 - Accounting Changes and Error Corrections  Section 1. 5

Learning Objectives. 5

Introduction. 5

Changes in Accounting Principle. 6

Accounting for the Change in Accounting Principle. 7

Chapter 1  Section 1 Review Questions. 11

Chapter 1 - Accounting Changes and Error Corrections  Section 2. 12

Justifying a Change in Accounting Principle. 12

Change in Accounting Principle  Illustrative Example. 17

Disclosures Required for Changes in Accounting Principles. 19

Change in Accounting Estimate. 20

Change in Reporting Entity. 22

Chapter 1  Section 2 Review Questions. 23

Chapter 1 - Accounting Changes and Error Corrections  Section 3. 24

Accounting for Correction of Errors. 24

Internal Control Considerations. 29

Accounting Standards Updates. 31

Chapter 1  Section 3 Review Questions. 33

Solutions to Review Questions. 34

Chapter 1  Section 1 Review Questions Feedback. 34

Chapter 1  Section 2 Review Questions Feedback. 36

Chapter 1  Section 3 Review Questions Feedback. 37

Glossary of Terms. 39

Index of Key Terms. 41

Final Examination. 43