Changes in Accounting Principles and Changes in Accounting Estimates, accounting homework help

Use the Internet or Strayer Library to research a company that had a change in accounting principles within the past five (5) years. Be prepared to discuss discuss the accounting principles that the identified

company changed, and explain the major reasons why the company changed

accounting principles. Give your opinion on whether you believe the change in

accounting principles was to benefit the corporation or investors and creditors.

Provide a rationale for your response.

Imagine you are the senior accountant at your organization, and management is not sure of the difference between a change in accounting estimate and a change in accounting principle. Briefly discuss the difference between a change in accounting estimate and a change in accounting principle, and outline the impact the changes will have on the company’s financial statements. Give your opinion on why a company should avoid reporting changes in accounting principles and changes in accounting estimates. Provide a rationale for your response.