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Changes in Accounting Principle - principle Changes in...

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Changes in Accounting Principle Changes in accounting occur frequently in practice, because important events or conditions may be in dispute or uncertain at the statement date. One type of accounting change results when a company adopts a different accounting
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Unformatted text preview: principle. Changes in accounting principle include a change in the method of inventory pricing from FIFO to average cost, or a change in accounting for construction contracts from the percentage-of-completion to the completedcontract method. [5] 16...
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