Describe the types of accounting changes


Response to the following questions:

1. Describe the three types of accounting changes.

2. Describe the two possible methods that a company could use to report the effect of accounting changes. Give one reason in favor of, and one against, each alternative.

3. Describe two situations in which a company could justify a change in an accounting principle.

Support your answer using a minimum of two professional or academic sources.

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Accounting Basics: Describe the types of accounting changes
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