Explain How Changes in Accounting Policies, Changes in Accounting Estimates

question 87

Essay

Explain how changes in accounting policies, changes in accounting estimates and errors are accounted for under the accrual basis of accounting.

---

Definitions:

Negative Points

Aspects or elements of a discussion, review, or analysis that highlight weaknesses, downsides, or disadvantages.

More Formal

Refers to a style or manner that is characterized by a greater adherence to traditional standards and rules of etiquette, often used in specific contexts or communications.

Clothing

Items worn on the body, usually made from fabric or textiles.

Interviewer

An individual who asks questions or conducts an interview, typically for the purpose of gathering information or assessing qualifications.