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Provide some examples of accounting estimates

1-Provide some examples of accounting estimates. What is the "preferred" approach for changes in accounting estimates?
2-What is the proper treatment for reporting a change in entity?
3-In recent years, the Wall Street Journal has indicated that many companies have changed their accounting principles. What are the major reasons why companies change accounting methods?
4-What are changes of accounting principle? Which does FASB require companies to use?

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Accounting

1-Provide some examples of accounting estimates. What is the "preferred" approach for changes in accounting estimates?

First, accounting estimates are necessary in order for business organizations and other entities to be able to provide a complete picture of its operations and financial position over a certain period of time. Accounting estimates are a result of the uncertainties involved in doing business which make items or financial transactions reported in the financial statements can't be measured accurately. Examples of accounting estimates are allowance for bad debts and bad debts expense, accumulated depreciation and depreciation expense, and amortization expense among others. Other examples with regard to the depreciation of property, plant and equipment are depreciable lives of assets and salvage value.

Generally accepted accounting principles require that changes in accounting estimates be ...

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The expert provides some examples of accounting estimates.

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