Upon completion of this module you will be able to identify situations where accounting estimates are used, distinguish changes in accounting policies from changes in accounting estimates, identify situations where prospective and retrospective application is the correct approach and define proper accounting treatment for both models. The course contains review questions after each of the course components. The purpose of these questions is to enhance understanding. The result of review questions does not count in your final quiz result.

The e-learning introduces the following topics:

  • Objective and scope: Definitions, Materiality, Accounting Policies, Changes in Accounting Estimates and Errors
  • Sources of accounting policies: Selecting and applying accounting policies
  • Changes in accounting policy: Retrospective application, Transitional provision
  • Changes in accounting estimates: Accounting estimates vs. accounting policies
  • Errors: Correction of errors
  • Disclosures: New accounting standards not yet effective, Change in accounting estimates
  • Final Quiz

50 minutes