For each of the following items, indicate the type of accounting change. (a1) (a) Change from straight-line method of depreciation to sum-of-the-years'-digits (b) Change from the cash basis to accrual basis of accounting Change from FIFO to LIFO method for inventory valuation purposes (retrospective application impractical) (c) Change from presentation of statements of individual companies to presentation (d) of consolidated statements (e) Change due to failure to record depreciation in a previous period (f) Change in the realizability of certain receivables (g) Change from LIFO to FIFO method for inventory valuation purposes > > > > >

For each of the following items, indicate the type of accounting change. (a1) (a) Change from straight-line method of depreciation to sum-of-the-years'-digits (b) Change from the cash basis to accrual basis of accounting Change from FIFO to LIFO method for inventory valuation purposes (retrospective application impractical) (c) Change from presentation of statements of individual companies to presentation (d) of consolidated statements (e) Change due to failure to record depreciation in a previous period (f) Change in the realizability of certain receivables (g) Change from LIFO to FIFO method for inventory valuation purposes > > > > >

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

For each of the following items, indicate the type of accounting change.
(a1)
(a)
Change from straight-line method of depreciation to sum-of-the-years'-digits
(b)
Change from the cash basis to accrual basis of accounting
Change from FIFO to LIFO method for inventory valuation purposes (retrospective
application impractical)
(c)
Change from presentation of statements of individual companies to presentation
(d)
of consolidated statements
(e)
Change due to failure to record depreciation in a previous period
(f)
Change in the realizability of certain receivables
(g)
Change from LIFO to FIFO method for inventory valuation purposes
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