ssignment SCREEN PRINTER VENSON BAC CES The following are various types of accounting changes: For each change or error, indicate how it would be accounted for assuming the company follows IFRS Accounting Treatment Acounted for is tha currant year anly 1. Change in a plant asset's residual value 2. Change due to an overstatement of inventory (in the preceding period) Change from sum-of-the-years-digits to straight-line method of deprediation because of a change in the pattern of benefits received 3. Accounted for in the current year enty Change in a primary source of GAAP Decision by management to capitalize interest. The company is reporting a self 4. Accounted for In the current year only 5. constructed asset for the first time. 6. Change in the rate used to calculate warranty costs 7. Change from an unacceptable accounting poliky to an acceptable accounting policy 8. Change in a patent's amortization period 9. Change from the zero-profit method to the percentage-of-completion method on construction contracts. This change was a result of experience with the project and improved ability to estimate the costs to completion and therefore the percentage Recognition of additional income tax owing from three years ago as a result of ininmner caleulatinns hw th rP ^ da ENG 2013 04 to search