What do we mean by change in accounting estimates

Assignment Help Financial Accounting

Reference no: EM131260002

What do we mean by a change in accounting estimates? How is a change in accounting estimate different than a change in accounting principle? Why did the accounting profession choose to handle changes in estimates using the prospective approach instead of the retrospective approach?

Reference no: EM131260002

Questions Cloud

The journal entry to record the flow of costs : Mocha Company manufactures a single product by a continuous process, involving three production departments. The records indicate that direct materials, direct labor, and applied factory overhead for Department 1 were $100,000, $125,000, and $150,000..

Cause of the oscillation orchange of state : A second dynamic principle is the flip-flop mechanism. (It's also called a bistable oscillator.) Can you think of otherflip-flops around you? Identify the cause of the oscillation orchange of state. A seesaw comes to mind, where two children alter..

Find a sphere with initial temperature a function of r only : a flat circular disk with sides held at 100?C with the flat surfaces insulated

Examine two aspect of teamwork training that change a person : Examine two aspects of teamwork training that change a person into a transformational leader. Justify your response.

What do we mean by change in accounting estimates : What do we mean by a change in accounting estimates? How is a change in accounting estimate different than a change in accounting principle? Why did the accounting profession choose to handle changes in estimates using the prospective approach instea..

What do we mean by a change in accounting principle : What do we mean by a change in accounting principle? Where are changes in accounting principle disclose on a company's annual report? How is the change reflected on a company's financial statements? The most noteworthy item on the income statement is..

What is the ip address of the web server : You ran Wireshark during one of the logins to the site and got the following capture, webadmin.pcap. Download the pcap file in Kali and open it in Wireshark. Use the information in it to fill in the blanks of the following: What is the IP address..

Could the information in the documents be trade secrets : Wilchcombe was not paid, but was given credit on the album as a producer. After the album had sold 2 million copies, Wilchcombe filed a suit against LJESB, alleging copyright infringe- ment. The defendants claimed that they had a license to use th..

Number of games the fans attends : Suppose the typical Buffalo Bills fan has the following demand curve for Bills football games: P = 100 - 10G where G is the number of games the fans attends.

User Account

All Pages