Board of Governors of the Federal Reserve System

The Federal Reserve, the central bank of the United States, provides the nation with a safe, flexible, and stable monetary and financial system.

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Data Dictionary

Item Number 5155

CUMULATIVE EFFECT OF CHANGES IN ACCOUNTING PRINCIPLES AND CORRECTION OF MATERIAL ACCOUNTING ERRORS IN PRIOR PERIODS

Call confidentiality applies to FFIEC 031/041.

Series	Start Date	End Date	Confidential?	Reporting Forms
ISUD5155	1990-06-30	2005-03-31	Yes	FR Y-20

Data Description:

Includes the cumulative effect, net of applicable income taxes, of those changes in accounting principles which are properly accounted for by restating prior years' financial statements. Also includes corrections of material accounting errors from prior periods. Therefore, the sum of all corrections, net of applicable income taxes, resulting from material accounting errors such as mathematical mistakes, and mistakes in applying accounting principles is reported.

Last update: May 20, 2024