Intermediate Accounting Accounting Changes and Error Corrections参考.ppt

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2018-03-15 发布于贵州
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Intermediate Accounting Accounting Changes and Error Corrections参考.ppt

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Intermediate Accounting Accounting Changes and Error Corrections参考

Accounting Changes The accounting profession has identified two main categories of accounting changes: Change in accounting estimate Change in accounting principle The basic accounting issue is whether accounting changes should be reported as adjustments of the prior periods’ statements or whether the changes should affect only the current and future years. Change in Accounting Estimate Contrary to what many people believe, accounting information cannot always be measured precisely. To provide information on a timely basis, accounting information often must be based on estimates. Estimates may need to be revised to give a better reflection of the company’s activities. Change in Accounting Estimate Change in Accounting Estimate Telstar Company Telstar Company Telstar Company Telstar Company Change in Accounting Principle A change in accounting principle involves a change from one generally accepted principle or method to another. A change from a principle that is not generally accepted to one that is generally accepted is considered to be an error correction rather than a change in accounting principle. Change in Accounting Principle The effect of the accounting change from one accepted accounting principle to another is reflected by retrospectively adjusting the financial statements for all years reported, and reporting the cumulative effect of the change in the income for all preceding years as an adjustment to the beginning balance. Change in Accounting Principle Change in Accounting Principle Change in Accounting Principle Change in Accounting Principle Change in Accounting Principle Change in Accounting Principle Change in Accounting Principle Pro Forma Disclosures after a Business Combination The supplemental disclosure required following a business combination is explained in SFAS No.141(R). The combined company is required to disclose pro forma results for the year of the combination as if the combination had occurred at the beginning of the year. Pro Forma