Why this is mistaken
Readers need the nature of the error and its effect on each affected statement line and per-share amount for each presented period, plus opening equity when applicable. The cumulative total is one control, not the disclosure surface.
Where to watch
When this mistake may appear
- A cumulative correction amount has been calculated.
Check your work
Your work may contain this mistake if:
- Discloses one net number with no as-reported-to-corrected reconciliation.