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Podcast overview
In this podcast, specialists from our Department of Professional Practice discuss FAQs from our recent webcast, and some practical trends and observations.
Applicability
- All entities
Relevant dates
- Effective immediately
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Podcast contents
- 01:20 – Key considerations for accounting changes
- 02:35 – Change in accounting estimate that is inseparable from a change in accounting principle
- 04:10 – Trends in accounting changes and preferability letters
- 05:50 – Impracticability
- 07:30 – Error corrections
- 08:40 – Big R vs little r restatement
- 09:30 – Evaluating materiality of an error
- 11:55 – Restatement trends
- 12:45 – ICFR implications
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Resource
Handbook: Accounting changes and error corrections
Latest edition: Our in-depth guide to the accounting and presentation requirements of ASC 250.
Handbooks
KPMG handbooks that include discussion and analysis of significant issues for professionals in financial reporting.
Meet our team
Karen Silverman
Partner, Audit, KPMG LLP
Tim Phelps
Partner, Dept. of Professional Practice, KPMG US
Karen Silverman
Partner, Audit, KPMG LLP
Tim Phelps
Partner, Dept. of Professional Practice, KPMG US