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Describe the following situation in the context of the financial reporting quality spectrum. XYZ Co. discloses that in 2012, it changed the depreciable life of
Describe the following situation in the context of the financial reporting quality spectrum. "XYZ Co. discloses that in 2012, it changed the depreciable life of its equipment from 3 years to 15 years. Equipment represents a substantial component of the company's assets. The company's disclosures indicate that the change is permissible under the accounting standards of its jurisdiction but provide only limited explanation of the change
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