Accounting estimate: Accounting estimate can be defined as the changes in the measurement of any expense asset liabilities and income based on the skills and experienced knowledge of a person which affects the financial statements. (a) To determine the ethical issues concerning F&Co. practice of changing the useful lives of fixed assets.

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Chapter 22, Problem 6CA

To determine

Accounting estimate: Accounting estimate can be defined as the changes in the measurement of any expense asset liabilities and income based on the skills and experienced knowledge of a person which affects the financial statements.

(a)

To determine the ethical issues concerning F&Co. practice of changing the useful lives of fixed assets.

To determine

(b)

To determine the harm faced by F &Co. unusual accounting changes.

To determine

(c)

To determine what should be done in this situation by Mr. C.

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