Why do changes in accounting estimates arise


Response to the following questions:

1. How are gains or losses that are either unusual or infrequent reported on a company's income statement?

2. Why do changes in accounting estimates arise? Give examples of a change in accounting estimate and indicate how such a change should be accounted for.

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

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Accounting Basics: Why do changes in accounting estimates arise
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