FASB Statement No. 154 requires that a company account for a change in accounting estimate:
a.in the period of change if the change affects only that period.
b.in the period of change and future periods regardless of what periods affected by the change.
c.in future periods.
d.by a retrospective adjustment.
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
(Save $1 )
One time Pay
(Save $5 )
Billed Monthly
*First month only
You can see the logs in the Dashboard.
