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Sagot :
a change in accounting principle relates to a change in method of accounting for an item, whereas a change in accounting estimates arises from a new calculation due to new information or new experience.
Accounting principles are overall rules that administer the techniques for recording and detailing monetary data. At the point when a substance decides to embrace an alternate technique from the one it at present utilizes, it is expected to record and report that adjustment of its fiscal summaries.
A genuine illustration of this is an adjustment of stock valuation
Accountants use gauges in their reports when giving precise numbers is unimaginable or unrealistic. At the point when these evaluations end up being wrong, or new data considers more accurate estimations, the substance ought to keep the superior gauge in an adjustment of accounting estimate. Instances of regularly changed gauges incorporate bad-debt allowance, warranty liability, and depreciation.
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