What Is Accounting Changes and Error Correction? Accounting changes and error correction refers to guidance on reflecting accounting changes and errors in financial ...

Companies have always faced a major issue of how to reflect changes in accounting methods and error corrections in financial statements. In 2005 FASB issued Statement ...

Accounting involves recording financial transactions. Companies are required to file complete financial statements that are consistent and precise. But, there may come a time when a company's ...

The Governmental Accounting Standards Board released guidance Monday to improve the accounting and financial reporting requirements for accounting changes and error ...

This feature was prepared by the AICPA Center for Plain English Accounting. New private company financial reporting alternatives have given financial statement preparers many issues to consider. Over ...

IMGCAP(1)]The countdown is on for 2018, as new international accounting rules, IFRS 15 for international countries and ASC 606 for the U.S., will change the way companies need to manage revenue ...

When your company purchases a fixed asset with an estimated lifetime exceeding one year, you cannot deduct the entire cost in the year of purchase. Rather, you must depreciate the asset by expensing a ...

ConAgra Foods, Inc. (NYSE: CAG) Friday (22 June) announced that it has filed an amended annual report on Form 10-K for its fiscal year ended May 28, 2000 with the Securities and Exchange Commission.

Accounting is a static practice -- change is rarely instituted -- so when changes are made in accounting, it is a big deal. Changes in accounting principle, accounting estimate and reporting entity ...