Change in estimate? Change in accounting principle? What it means

PwC's accounting podcast · Mar 9, 2021 · 39m · transcript

Distinguishing between a change in accounting principle and a change in estimate can be difficult, but the distinction is critical to applying the correct guidance. To help think through the accounting, host Heather Horn is joined by Pat Durbin and Tom Barbieri, Deputy Chief Accountants in PwC’s National Office.

Topics include:

0:41 - Background. We start with an overview of the different types of accounting changes and provide examples of each.

4:33 - Change in accounting principle. Pat walks through the steps that companies should take when changing an accounting principle, and how to…