Discuss accounting principle that identified company changed

Assignment Help Accounting Basics
Reference no: EM131821286

Discussion: "Changes in Accounting Principles and Changes in Accounting Estimates"

Respond to the following:

• From the e-Activity, discuss the accounting principles that the identified company changed, and explain the major reasons why the company changed accounting principles. Give your opinion on whether you believe the change in accounting principles was to benefit the corporation or investors and creditors. Provide a rationale for your response.

• Imagine you are the senior accountant at your organization, and management is not sure of the difference between a change in accounting estimate and a change in accounting principle. Briefly discuss the difference between a change in accounting estimate and a change in accounting principle, and outline the impact the changes will have on the company's financial statements. Give your opinion on why a company should avoid reporting changes in accounting principles and changes in accounting estimates. Provide a rationale for your response.

Reference no: EM131821286

Questions Cloud

Discuss some surprises that may face managers : Discuss some surprises that may face managers as they invest in new markets. How can managers minimize the disadvantages of doing business abroad?
How long buildings and furniture and equipment are to last : Who determines how long buildings and furniture and equipment are to last? Who determines the dollar amount of accounts receivable that are doubtful?
Describe a strategy for evaluating data quality : Consider all the phases of the project, from the initial discussions of business requirements through the ETL phase.
Request for a donation affect the proportion : Does including a gift with a request for a donation affect the proportion who will make a donation?
Discuss accounting principle that identified company changed : Discuss the accounting principles that the identified company changed, and explain the major reasons why the company changed accounting principles.
Describe group think and its implications for health care : Describe the characteristics of a team wherein you have been a member, was it a strong or weak team? Why? [This can be a work or personal situation.]
What general direction is the pacific plate currently moving : What general direction is the Pacific Plate currently moving? Has the Pacific plate sped up or slowed down
How and why do manages use the planning process : How and why do manages use the planning process? Which steps in the planning process do you think are the hardest to accomplsh.
Overweight among low-income preschool children : The paper "Overweight Among Low-Income Preschool Children Associated with the Consumption of Sweet Drinks" (Pediatrics [2005]:

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd