kieso22 - CHAPTER 22 Accounting Changes and Error Analysis...

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22-1 CHAPTER 22 Accounting Changes and Error Analysis ASSIGNMENT CLASSIFICATION TABLE (BY TOPIC) Topics Questions Brief Exercises Exercises Problems Concepts for Analysis 1. Differences between change in principle, change in estimate, change in entity, errors. 4, 6, 7, 8, 9, 12, 13, 15 3 1, 2, 3, 4 2. Accounting changes: a. Comprehensive. 3, 6, 7 1, 2, 4, 5 b. Changes in estimate, changes in depreciation methods. 9 4, 5, 9 2, 3, 4, 6, 7, 8, 9, 10, 11, 12, 16, 17 1, 2, 4, 6, 7 1, 2, 3, 4, 6 c. Changes in accounting for long-term construction contracts. 2, 10 1, 2, 10 1, 7, 13 1, 2 d. Change from FIFO to average cost. 2, 8, 14 3 e. Change from FIFO to LIFO. 2, 11 10 4, 9 1, 2 f. Change from LIFO. 3 2, 3, 5, 8 2, 5 g. Miscellaneous. 1, 3, 4, 5, 8 8, 9, 10 1, 5 3. Correction of an error. a. Comprehensive. 14, 17, 19 8, 9, 10 8, 15, 16, 19, 20, 21 3, 6, 7, 8, 9, 10 2, 4 b. Depreciation. 18, 21 6, 7 1, 9, 17, 18 1, 6 c. Inventory. 9, 16, 20 10 7, 17 2, 10 1, 2 *4. Changes between fair value and equity methods. 11, 12 22, 23 11, 12 *This material is dealt with in an Appendix to the chapter.
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22-2 ASSIGNMENT CLASSIFICATION TABLE (BY LEARNING OBJECTIVE) Learning Objectives Brief Exercises Exercises Problems 1. Identify the types of accounting changes. 2. Describe the accounting for changes in accounting principles. 1 3. Understand how to account for retrospective accounting changes. 1, 2, 3, 9, 10 1, 2, 3, 4, 5, 8, 13, 14 2, 3, 5 4. Understand how to account for impracticable changes. 2 5. Describe the accounting for changes of estimates. 4, 5, 9, 10 6, 7, 8, 9, 10, 11, 12 1, 2, 3, 4, 6 6. Identify changes in a reporting entity. 7. Describe the accounting for correction of errors. 6, 7, 8, 9, 10 7, 8, 9, 10, 15, 16, 17, 18, 19, 20, 21 1, 2, 3, 6, 7, 8, 9, 10 8. Identify economic motives for changing accounting methods. 9. Analyze the effect of errors. 18, 19, 20, 21 6, 7, 8, 9, 10 *10. Make the computations and prepare the entries necessary to record a change from or to the equity method of accounting. 11, 12 22, 23 11, 12
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22-3 ASSIGNMENT CHARACTERISTICS TABLE Item Description Level of Difficulty Time (minutes) E22-1 Change in principle—long-term contracts. Moderate 10–15 E22-2 Change in principle—inventory. Moderate 10–15 E22-3 Accounting change. Difficult 25–30 E22-4 Accounting change. Difficult 25–30 E22-5 Accounting change. Difficult 30–35 E22-6 Accounting changes—depreciation. Difficult 30–35 E22-7 Change in estimate and error; financial statements. Moderate 25–30 E22-8 Accounting changes and errors. Simple 5–10 E22-9 Error and change in estimate—depreciation. Simple 15–20 E22-10 Depreciation changes. Moderate 20–25 E22-11 Change in estimate—depreciation. Simple 10–15 E22-12 Change in estimate—depreciation. Simple 20–25 E22-13 Change in principle—long-term contracts. Simple 10–15 E22-14 Various changes in principle—inventory methods. Moderate 20–35 E22-15 Error correction entries. Simple 15–20 E22-16 Error analysis and correcting entry. Simple 10–15 E22-17 Error analysis and correcting entry. Simple 10–15 E22-18 Error analysis. Moderate 25–30 E22-19 Error analysis; correcting entries. Simple 20–25 E22-20 Error analysis. Moderate 20–25 E22-21 Error analysis. Moderate 10–15 *E22-22 Change from fair value to equity. Complex 25–30 *E22-23 Change from equity to fair value.
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This note was uploaded on 01/31/2010 for the course ECON 136C taught by Professor Anderson during the Fall '08 term at UCSB.

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kieso22 - CHAPTER 22 Accounting Changes and Error Analysis...

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