Affect the financial statements of a business enterprise, History

Assignment Help:

Various types of accounting changes can affect the financial statements of a business enterprise differently. Assume that the following list describes changes that have a material effect on the financial statements for the current year of your business enterprise.

• 1. A change from the completed-contract method to the percentage-of-completion method of accounting for long-term construction-type contracts.

• 2. A change in the estimated useful life of previously recorded fixed assets as a result of newly acquired information.

• 3. A change from deferring and amortizing preproduction costs to recording such costs as an expense when incurred because future benefits of the costs have become doubtful. The new accounting method was adopted in recognition of the change in estimated future benefits.


Related Discussions:- Affect the financial statements of a business enterprise

Analysis of his thesis made, Paper breakdown: 1) Intro 2) Analysis of hi...

Paper breakdown: 1) Intro 2) Analysis of his thesis made 3) Analysis of his sources 4) Analysis of his credentials This book is a quick read and Im offering 3,000 points for

Foreign policy a reaction to this situation, Did the U.S. do everything it ...

Did the U.S. do everything it could to help the Jews in Europe? Is our current foreign policy a reaction to this situation?

Describe the kinds of questions, Describe the kinds of questions that the C...

Describe the kinds of questions that the Continental Congress had to answer when creating the government for the new nation. Describe the government set up by the Articles of Co

How do their conceptions of the social contract differ, Do research online ...

Do research online concerning John Locke and Jean-Jacques Rousseau. How do their conceptions of the "social contract" differ? How are these differences related to differences betwe

Identify and discuss specific factor, Identify and discuss a specific facto...

Identify and discuss a specific factor, event, or development that influenced the course of African history to 1000 C.E

Development in the emergence of byzantium, Identify and discuss a factor, e...

Identify and discuss a factor, event, or development in the emergence of Byzantium and/or medieval Europe.

The electoral college casts the official vote, 1. Why were the founding fat...

1. Why were the founding fathers reluctant to allow a popular vote (citizen vote) for the election of the president and vice president? 2. The Electoral College casts the official

Why do you think that jefferson, 1. Why do you think that Jefferson did not...

1. Why do you think that Jefferson did not want the Presidency listed on his gravestone as one of his accomplishments? 2. Is the Sally Hemings controversy important to our inter

Cause and Effect, Ming emperors disallowed foreign trade. whats the effect

Ming emperors disallowed foreign trade. whats the effect

Discuss the tannenbaum thesis, Discuss the Tannenbaum thesis (Degler, 19). ...

Discuss the Tannenbaum thesis (Degler, 19). In your opinion, does the thesis adequately address the perplexing issue of slavery? Why or why not?

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd