If a new guideline occurs for accounting practices and procedures, a company must make a notation on the financial statement reflecting how an entry was adjusted based on the new ruling, serving as a proper notification to company personnel and investors.
What is CHANGE IN ACCOUNTING PRINCIPLES?
- CHANGE IN ACCOUNTING ESTIMATE
- GENERALLY ACCEPTED ACCOUNTING PRINCIPLES (GAAP)
- PRINCIPLES-BASED ACCOUNTING
- CHANGE IN ACCOUNTING METHOD
- ACCOUNTING PRINCIPLES BOARD
- CHANGE IN ACCOUNTING PRINCIPLE
- ACCOUNTING CHANGE
- CHANGE IN ACCOUNTING PERIOD
- ACCOUNTING CONTROL SYSTEM
- FASB STATEMENTS OF FINANCIAL ACCOUNTING CONCEPTS (SFAC)
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