Question
A) Contrast the retrospective and prospective approaches to accounting changes. B) Explain the following accounting changes, including two examples of each, as well as their
A) Contrast the retrospective and prospective approaches to accounting changes.
B) Explain the following accounting changes, including two examples of each, as well as their proper accounting.
- Change in accounting principle
- Change in accounting estimate
- Change in depreciation/amortization/depletion method
- Change in reporting entity
- Error correction
C) Describe the four step process of correcting and reporting errors.
D) What are the differences in IFRS and GAAP regarding correcting errors?
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Government Auditing Standards 2011 Revision
Authors: U. S. Government Accountability Office, Comptroller General Of The United States
1st Edition
1482311372, 978-1482311372
