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The Discussion in IAS 16 Paragraphs 60-62 Indicates That a Change

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Essay

The discussion in IAS 16 paragraphs 60-62 indicates that a change in depreciation method is usually a change in accounting estimate. Explain the logic behind why a change in depreciation method is normally considered a change in estimate.


Definitions:

Luminous Rectangular Frame

A framework or structure, often made of metal or plastic, that surrounds a light-emitting device, creating a bright rectangular display.

Induced Motion

The visual perception where motion is attributed to a stationary object while the observer is actually moving.

Direction Opposite

Referring to a course or path that is directly reverse or contrary to another or to a previous direction.

Spinning Clockwise

The motion of an object rotating on its axis to the right when observed from above.

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