There are two methods of reporting an accounting change: (a) retrospective adjustment and (b) prospectively. Indicate which method is used for the following changes by writing either (a) or (b) on the line after the change. 1. Change in reporting entity_______________ 2. Change in accounting principle___________ 3. Change in accounting estimate___________

Intermediate Accounting: Reporting And Analysis
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ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter22: Accounting For Changes And Errors.
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Problem 4C: When the FASB issues a new generally accepted accounting principle, it may require companies to...
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There are two methods of reporting an accounting change: (a) retrospective adjustment and (b) prospectively. Indicate which method is used for the following changes by writing either (a) or (b) on the line after the change.

1. Change in reporting entity_______________

2. Change in accounting principle___________

3. Change in accounting estimate___________

 

 

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