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ASC 250 provides guidance on the accounting for and reporting of accounting changes and error corrections. An accounting change can be a change in accounting principle, an accounting estimate, or the reporting entity. Accounting changes generally, and the need for preferability letters, are discussed at SEC 3140.4.

PwC. All rights reserved. PwC refers to the US member firm or one of its subsidiaries or affiliates, and may sometimes refer to the PwC network. Each member firm is a separate legal entity. Please see www.pwc.com/structure for further details. This content is for general information purposes only, and should not be used as a substitute for consultation with professional advisors.

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