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Either the change results in a change of accounting principle, or it results in a change of accounting estimate and the majority of accounting changes
Either the change results in a change of accounting principle, or it results in a change of accounting estimate" and the majority of accounting changes are either of the above. However there is another type of change callled "Correction of errors"
FOR YOU AND THE CLASS: What is a correctionof error and how should it be reported in the financial statements
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