1.0 Credits

This course will examine both the accounting and tax implications of accounting changes and errors.
FASB provides different guidance depending on the type of accounting change. We will explore the
major types of accounting changes including change in estimate, change in accounting principles, and
change in reporting entity. We also discuss the correction of an error. The course then changes focus to
examine how accounting changes and errors impact taxes including a review of the Form 3115. You’ll
leave this course with an understanding of how to properly account for errors and changes for both tax
and GAAP.


• List some of the instances where estimates may be used for tax purposes.
• Identify how the treatment of an error and the treatment of an accounting change differ on the
tax return.
• Describe the key characteristics of automatic changes on Form 3115.
• Identify the type of accounting change for a transaction
• Describe the accounting for accounting changes

Add to Cart