Chapter 22 ACCOUNTING CHANGES AND ERROR analysis Sommers ACCT 3311

Jan 08, 2014

250 likes | 621 Views

Discussion Questions. Q22?12 How should consolidated financial statements be reported this year when statements of individual companies were presented last year?. Correction of Errors. Types of Accounting Errors:A change from an accounting principle that is not generally accepted to an accounting

Share Presentation

Embed Code

Link

cedric

Download Presentation

Chapter 22 ACCOUNTING CHANGES AND ERROR analysis Sommers ACCT 3311

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

Accounting Changes and Error Corrections

chapter 20. Accounting Changes and Error Corrections. Learning Objectives. 1. Understand the two different types of accounting changes that have been identified by accounting standard setters.

821 views • 48 slides

Chapter 9 inventories: additional issues Sommers ACCT 3311

1.18k views • 20 slides

Accounting Changes and Error corrections

Chapter 20. Accounting Changes and Error corrections . Accounting Changes. Accounting Changes and Error Corrections. Retrospective. Two Reporting Approaches. Prospective . Error Corrections and Most Changes in Principle. Retrospective.

820 views • 37 slides

Chapter 22 ACCOUNTING CHANGES AND ERROR analysis Sommers ACCT 3311

Accounting Changes. For accounting purposes, we classify accounting changes into three categories. Accounting changes are categorized as:Changes in policy (when companies switch from one acceptable accounting method to another)Changes in estimate (when new information causes companies to revise e

809 views • 37 slides

Chapter 22 ACCOUNTING CHANGES AND ERROR analysis Sommers – Intermediate I

Chapter 22 ACCOUNTING CHANGES AND ERROR analysis Sommers – Intermediate I. Accounting Changes. For accounting purposes, we classify accounting changes into three categories. Accounting changes are categorized as:

2.65k views • 57 slides

Accounting Changes and Errors

C. 22. hapter. Accounting Changes and Errors. Objectives. 1. Identify the types of accounting changes. 2. Explain the methods of disclosing an accounting change. 3. Account for a change in accounting principle using the cumulative effect method.

658 views • 49 slides

Chapter 22: Accounting Changes and Error Analysis

Intermediate Accounting, 11th ed. Kieso, Weygandt, and Warfield. Chapter 22: Accounting Changes and Error Analysis. Chapter 22: Accounting Changes and Error Analysis. Identifikasi jenis2 Perubhn Akunt. Uraian perubhn prinsip2 Akunts.

970 views • 25 slides

Chapter 22 ACCOUNTING CHANGES AND ERROR analysis Sommers – ACCT 3311

Chapter 22 ACCOUNTING CHANGES AND ERROR analysis Sommers – ACCT 3311. Discussion Questions. Q22–12 How should consolidated financial statements be reported this year when statements of individual companies were presented last year?. Correction of Errors. Types of Accounting Errors:

1.24k views • 24 slides

Chapter 8 VALUATION OF INVENTORIES: A COST-BASIS APPROACH Sommers – ACCT 3311

Chapter 8 VALUATION OF INVENTORIES: A COST-BASIS APPROACH Sommers – ACCT 3311. Discussion Question. Q8-6 Goods out on approval to customers Goods in transit that were recently purchased f.o.b. destination Land held by a realty firm for sale R aw Materials

576 views • 28 slides

Accounting Changes and Error Analysis

Accounting Changes and Error Analysis. Chapter 22. Intermediate Accounting 12 th & 13 th Editions Kieso, Weygandt, and Warfield. KWW slides Prepared by Coby Harmon, University of California, Santa Barbara as modified by Teresa Gordon, University of Idaho. Restatements are common!.

566 views • 38 slides

Accounting Changes and Error Corrections

Accounting Changes and Error Corrections. Objectives of the Chapter. I. To learn the types of accounting changes. II. To study the accounting treatments of accounting changes. III. To analyze the accounting errors and to learn the accounting treatments of errors.

1.38k views • 100 slides

Accounting Changes and Error Analysis

Accounting Changes and Error Analysis. Chapter 22. Intermediate Accounting 12th Edition Kieso, Weygandt, and Warfield. Prepared by Coby Harmon, University of California, Santa Barbara. Section 2 – Error Analysis. Counterbalancing Errors. Will be offset or corrected over two periods.

517 views • 12 slides

ACCT 2310 Accounting Principles I Chapter 2

ACCT 2310 Accounting Principles I Chapter 2. Dr. Robert R. Oliva Professor and Chairperson Department of Accounting University of Arkansas at Little Rock. Questions:. How do you find out the answer to the following questions?

672 views • 39 slides

Accounting Changes and Error corrections

Chapter 20. Accounting Changes and Error corrections. Accounting Changes. Accounting Changes and Error Corrections. Retrospective. Two Reporting Approaches. Prospective. Error Corrections and Most Changes in Principle. Retrospective.

513 views • 36 slides

Accounting Changes and Error Corrections

Insert Book Cover Picture. Accounting Changes and Error Corrections. 20. Learning Objectives. Differentiate between the three types of accounting changes and between the retrospective and prospective approaches to accounting for and reporting accounting changes. LO1. Accounting Changes.

753 views • 50 slides

Accounting Changes and Error Analysis

Accounting Changes and Error Analysis. Chapter 22. Intermediate Accounting 12th Edition Kieso, Weygandt, and Warfield. Prepared by Coby Harmon, University of California, Santa Barbara as modified by Teresa Gordon, University of Idaho. Learning Objectives.

805 views • 37 slides

Chapter 10 acquisition and disposition of property, plant, and equipment Sommers – ACCT 3311

Chapter 10 acquisition and disposition of property, plant, and equipment Sommers – ACCT 3311. Noncash Acquisitions. The asset acquired is recorded at the fair value of the consideration given or the fair value of the asset acquired, whichever is more clearly evident.

1.55k views • 31 slides

Accounting Changes and Error Corrections

Accounting Changes and Error Corrections. Learning Objectives. Understand the three different types of accounting changes that have been identified by accounting standard setters.

449 views • 30 slides

ACCT 504 Accounting Finance - Managerial Use and Analysis -

ACCT 504 Accounting Finance - Managerial Use and Analysis - Complete Course Final Exam Click Link Below T24o Purchase: http://dev-tutorials.com/?cat=

162 views • 1 slides

ACCOUNTING CHANGES AND ERROR ANALYSIS

ACCOUNTING CHANGES AND ERROR ANALYSIS. Learning Objectives. Accounting Changes and Error Analysis. Accounting Changes. Error Analysis. Changes in accounting principle Changes in accounting estimate Reporting in reporting entity Correction of errors Summary

695 views • 59 slides

Accounting Changes and Error Corrections

Accounting Changes and Error Corrections. Sid Glandon, DBA, CPA Associate Professor of Accounting The University of Texas at El Paso. Types of Accounting Change. Change in Accounting Principle Change in Accounting Estimates Change in Reporting Entity Correction of errors.

166 views • 12 slides

More Related