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Elementary,Middle School,High School,College,University,PHD
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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
1. What action is required when it is discovered that a five-year insurance premium payment of $50,000 two years ago was debited to insurance expense? (Ignore taxes.)
2. Suppose the error described in the previous question is not discovered until six years later. What action will the discovery of this error require?
3. With regard to the correction of accounting errors, what is the difference between U.S. GAAP and IFRS?
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