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Once the estimated depreciation expense for an asset is calculated: it cannot be changed, based on the consistency principle Any changes are accumulated and recognized
Once the estimated depreciation expense for an asset is calculated: it cannot be changed, based on the consistency principle Any changes are accumulated and recognized when the asset sold it cannot be changed, based on the historical cost principle. It may be revised based on new information. The estimate itself cannot be changed, however, new information should be disclosed in financial statement footnotes
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