Question

CPR: Change in principle reported retrospectively CPP: Change in principle reported prospectively CES: Change in estimate CRE: Change in reporting entity PPA: Prior period adjustment required ____ Change from FIFO inventory costing to LIFO inventory costing. ____ Change from LIFO inventory costing to FIFO inventory costing. ____ Change in the composition of a group of firms reporting on a consolidated basis. ____ Change to the installment method of accounting for receivables. ____ Change in actuarial assumptions for a defined benefit pension plan. ____ Change from sum-of-the-years' digits depreciation to straight-line. ____ Change from expensing extraordinary repairs erroneously recorded as an expense to capitalizing the expenditures. ____ Change in the percentage used to determine warranty expense. ____ Change from reporting postretirement benefits according to the provisions of U.S. GAAP. ____ Change in the residual value of machinery.

Answer 1

CPP: Change from FIFO inventory costing to LIFO inventory costing. CPR: Change from LIFO inventory costing to FIFO inventory costing. CRE: Change in the composition of a group of firms reporting on a consolidated basis.

CPR: Change to the installment method of accounting for receivables.

CES: Change in actuarial assumptions for a defined benefit pension plan.

CPP: Change from sum-of-the-years' digits depreciation to straight-line.

PPA: Change from expensing extraordinary repairs erroneously recorded as an expense to capitalizing the expenditures.

CES: Change in the percentage used to determine warranty expense.

CPP: Change from reporting postretirement benefits according to the provisions of U.S. GAAP.

CES: Change in the residual value of machinery.

Step-by-step explanation:

CPR: Change in principle reported retrospectively.

CPP: Change in principle reported prospectively.

CES: Change in estimate.

CRE: Change in reporting entity. PPA: Prior period adjustment required.