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  • Listed Below Are Various Types of Accounting Changes and Errors

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    M Bilal Saleem
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    The document lists 10 types of accounting changes and errors, including changes to depreciation methods, inventory methods, construction contract methods, salvage values, bad debt expense rates, and financial statement presentation. For each change or error, the reader is instructed to indicate whether it should be accounted for prospectively, retrospectively, or neither method using code letters.

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    The document lists 10 types of accounting changes and errors, including changes to depreciation methods, inventory methods, construction contract methods, salvage values, bad debt expense rates, and financial statement presentation. For each change or error, the reader is instructed to indicate whether it should be accounted for prospectively, retrospectively, or neither method using code letters.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    18 views1 page

    Listed Below Are Various Types of Accounting Changes and Errors

    Uploaded by

    M Bilal Saleem
    The document lists 10 types of accounting changes and errors, including changes to depreciation methods, inventory methods, construction contract methods, salvage values, bad debt expense rates, and financial statement presentation. For each change or error, the reader is instructed to indicate whether it should be accounted for prospectively, retrospectively, or neither method using code letters.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    Listed below are various types of accounting changes and

    errors
    Listed below are various types of accounting changes and errors.______ 1. Change in the
    amortization period for a trademark.______ 2. Change from double-declining-balance method to
    straight-line method of depreciation.______ 3. Change from FIFO to average-cost inventory
    method.______ 4. Change from percentage-of-completion to completed-contract method on
    construction contracts.______ 5. Change in equipment’s salvage value.______ 6. Change due
    to understatement of inventory.______ 7. Change in the rate used to compute bad debt
    expense.______ 8. Change from presenting unconsolidated to consolidated financial
    statements.______ 9. Change from direct write-off to allowance method of accounting for bad
    debts.______ 10. Change from LIFO to average-cost inventory method.InstructionsFor each
    change or error, indicate how it would be accounted for using the following code letters:a.
    Accounted for prospectively.b. Accounted for retrospectively.c. Neither of the above.View
    Solution:
    Listed below are various types of accounting changes and errors
    SOLUTION-- http://expertanswer.online/downloads/listed-below-are-various-types-of-accounting-
    changes-and-errors/

    See Answer here expertanswer.online


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