FASB issued Statement no. 154, Accounting Changes and Error Corrections. Read the Changes in Accounting for Changes and the FANG Stocks and Apple: Cash Flow and Valuation Analysis 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?

https://www.forbes.com/sites/chuckjones/2016/02/07/fang-stocks-and-apple-cash-flows-and-valuation-analysis/#193fae3d18eb

http://www.journalofaccountancy.com/issues/2007/feb/changesinaccountingforchanges.html