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vodomira [7]
3 years ago
9

for each of the following items, indicate the type of accounting change. (a1) (a) Change from straight-line method of depreciati

on to sum-of-the-years'-digits (b) Change from the cash basis to accrual basis of accounting (c) Change from FIFO to LIFO method for inventory valuation purposes (retrospective application impractical) (d) Change from presentation of statements of individual companies to presentation of consolidated statements (e) Change due to failure to record depreciation in a previous period (f) Change in the realizability of certain receivables (g) Change from LIFO to FIFO method for inventory valuation purposes
Business
1 answer:
svetoff [14.1K]3 years ago
7 0

Answer:

  1. Variation in accounting evaluation; presently and prospectively.
  2. Rectification of associate degree error; statement of monetary reports of all previous amounts accessible; alteration of starting maintained earnings of this period.
  3. Variation in accounting standard; no statement, base register is that the opening register of the amount of modification.
  4. Variation in accounting article; retrospective statement of monetary statements of all previous amounts offered; alteration of starting maintained earnings of this period.
  5. Alteration of miscalculation, statement of monetary statements of the amount affected; previous period alteration; change of starting maintained earnings of the primary period once the error.
  6. Variation in accounting evaluation; presently and prospectively.
  7. Variation in accounting standard; retrospective statement of all exaggerated previous monetary statements; alteration of starting maintained incomes of this amount.

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