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Unformatted text preview: those stated on the balance sheet. Lack of Consistency Change in accounting principle Change in reporting entity Correction of an error in principle Changes Affecting Consistency Change in accounting estimate Correction of an error that does not involve an accounting principle Changes Not Affecting Consistency Change in classification and reclassification Change expected to have a material future effect 2 nd Reporting Standard v. 3 rd reporting standard. Since 1988, consistency has been presumed. Issue: Earnings management Common: companies change operations, increase stock holdings of other companies, FASB changes rules etc....
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This note was uploaded on 10/05/2011 for the course ACG 5637 taught by Professor Monikacaushoulli during the Fall '08 term at University of Florida.
- Fall '08