An example of the correction of an error in previously issued financial statements is a change

From the completed contract to the percentage$-$of$-$completion method of accounting for long$-$term construction$-$type contracts.

In the depletion rate, based on new engineering studies of recoverable mineral resources.

From the sum$-$of$-$years$-$digits to the straight$-$line method of depreciation for all plant assets.

From the installment basis of recording sales to the accrual basis, when collection of the sales price has been and continues to be reasonably assured