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Statement of Financial Accounting Standards No

Question 27

Essay

Statement of Financial Accounting Standards No. 154, "Accounting Changes and Error Corrections, requires that voluntary changes in accounting principles be reported retrospectively. The standard recognizes that such retrospective restatement is not always practical.
Required:
Statement of Financial Accounting Standards No. 154, Accounting Changes and Error Corrections, requires that voluntary changes in accounting principles be reported retrospectively. The standard recognizes that such retrospective restatement is not always practical. Required:

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