Disclosures in the financial statements or notes


If a public company obtained additional information about the service lives of some of its fixed assets that showed that the service lives previously used should be shortened, what type of accounting change would this be? Include in your discussion how the change should he reported in the income statement of the year of the change and what disclosures should be made in the financial statements or notes.

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Accounting Basics: Disclosures in the financial statements or notes
Reference No:- TGS048743

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