Which of the following should be reported as a change in, Ask an Expert

Accounting

Which of the following should be reported as a change in accounting estimate?

a. Change in the reported beginning inventory amount due to a discovery of a bookkeeping error

b. Change from the completed-contract method to the percentage-of- completion method for revenue recognition on long-term construction contracts

c. Increase in the rate applied to net credit sales from 1 percent to 1-1/2 percent in determining losses from uncollectible receivables

d. Change made to comply with a new FASB pronouncement

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9408406

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