Final answer:
It is true that all changes in accounting estimates must be disclosed in the notes to the financial statements. These disclosures are crucial for transparency and to help users assess the impact of such changes on the financial results.
Step-by-step explanation:
The statement that all changes in accounting estimates must be disclosed in the notes to the financial statements is true. The disclosure of such changes is a requirement, as they can significantly impact the final figures presented in the financial statements. These estimates may include changes in depreciation methods, allowances for doubtful accounts, or lifespans of assets. When a change is made, companies must disclose the nature of the change, the reason for making the change, and the effect of the change on the financial results in the periods affected. This helps to ensure transparency and allows users of the financial statements to assess the comparability and reliability of the reported information.