Chapter 23: Accounting Changes and Error Analysis
After studying this chapter you should be able to:
Identify the types of accounting changes.
Describe the accounting for changes in accounting principles.
Understand how to account for cumulative-effect accounting changes.
Understand how to account for retroactive accounting changes.
Understand how to account for changes to LIFO.
Describe the accounting for changes in estimates.
Identify changes in a reporting entity.
Describe the accounting for correction of errors.
Identify economic motives for changing accounting methods.
Analyze the effect of errors.