it is important in accounting theory to be able to distinguish types of accounting changes required a if a public c
It is important in accounting theory to be able to distinguish types of accounting changes.
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a. If a public company desires to change from the sum-of-year’s- digits depreciation method to the straight-line method for fixed assets, what type of accounting change will this be? How would it be treated? Discuss the permissibility of this change
b. If a public company oblained additional information about the service lives of some of its fixed assets that showed that the serviee lives previously used should be shortened. what ydSometimes accounting change would this be? Include in your discussion how the change should be reported in the income statement the year of the change and what disclosures should be mede the financial statements or notes. servie lives previously used should be shortened, what typed
c. Changing specific subsidiaries comprising the group of c panies for which consolidated financial statements are presen ed is an example of what type of accounting change? Wh effect does it have on the consolidated income statements?