Intermediate Accounting, Thirteenth Edition

Chapter 22. ACCOUNTING CHANGES AND ERROR ANALYSIS

LEARNING OBJECTIVES

After studying this chapter, you should be able to:

• 
• 
• 
• 
• 
• 
• 
• 
• 

In The Dark

The FASB's conceptual framework describes comparability (including consistency) as one of the qualitative characteristics that contribute to the usefulness of accounting information. Unfortunately, companies are finding it difficult to maintain comparability and consistency due to the numerous changes in accounting principles mandated by the FASB. In addition, a number of companies have faced restatements due to errors in their financial statements. For example, the table ...