The correction of a material error discovered in a year subsequent to the year the error was

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The correction of a material error discovered in a year subsequent to the year the error was made is considered a prior period adjustment. Briefly describe the accounting treatment for prior period adjustments.

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Intermediate Accounting

ISBN: 9781259722660

9th Edition

Authors: J. David Spiceland, James Sepe, Mark Nelson, Wayne Thomas

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Question Posted: Jun 24, 2013 07:12 AM

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The correction of a material error discovered in a year subsequent to the year the error was

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Prior period adjustments are accounted for by restating prior years fi...View the full answer

Intermediate Accounting

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