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ACC306 / ACC 306 / Week 5 Analysis Case 20-10 - DRS Corporation

ACC306 / ACC 306 / Week 5 Analysis Case 20-10 - DRS Corporation

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Published by AceSuperstar

Analysis Case 20-10 - DRS Corporation - Various changes. DRS Corporation changed the way it depreciates its computers from the sum-of-the-year’s-digits method to the straight-line method beginning January 1, 2011. DRS also changed its estimated residual value used in computing depreciation for its office building. At the end of 2011, DRS changed the specific subsidiaries constituting the group of companies for which its consolidated financial statements are prepared. Required: 1. For each accounting change DRS undertook, indicate the type of change and how DRS should report the change. Be specific. 2. Why should companies disclose changes in accounting principles?

Analysis Case 20-10 - DRS Corporation - Various changes. DRS Corporation changed the way it depreciates its computers from the sum-of-the-year’s-digits method to the straight-line method beginning January 1, 2011. DRS also changed its estimated residual value used in computing depreciation for its office building. At the end of 2011, DRS changed the specific subsidiaries constituting the group of companies for which its consolidated financial statements are prepared. Required: 1. For each accounting change DRS undertook, indicate the type of change and how DRS should report the change. Be specific. 2. Why should companies disclose changes in accounting principles?

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Categories:Types, School Work
Published by: AceSuperstar on Jan 29, 2013
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09/17/2013

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