Why companies change accounting principles

Reference no: EM133207376

Assignment - Why Companies Change Accounting Principles Discussion

In a recent annual report, J.M. Smucker, changed a previously reported inventory amount of $52 million to $54 million. How can an accounting change cause a company to increase a previously reported inventory amount? Are all accounting changes reported this way? If not, what are the other approaches to reporting accounting changes?

Reference no: EM133207376

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