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ACC 306 Week 5 Discussion 1 Accounting Changes and Errors NEW
Read Chapters 21 and 22 in the textbook.
Write: Make sure your response addressing the questions below is more than 200 words and you include an in-text citation, a quote from the pronouncement.
FASB issued Statement no. 154, Accounting Changes and Error Corrections. Read the Changes in Accounting for Changes (Links to an external site.)Links to an external site. and the FANG Stocks and Apple: Cash Flow and Valuation Analysis (Links to an external site.)Links to an external site. articles and answer the following:
Explain the retrospective perspective.
How are the cumulative effect of accounting changes reported?
Summarize the seven exhibits.
What implications do accounting changes have on the company and the auditors?
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