Statement of Financial Accounting Standards No. 154, "Accounting Changes and Error Corrections, requires that voluntary changes in accounting principles be reported retrospectively. The standard recognizes that such retrospective restatement is not always practical.
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The Answer of Statement of Financial Accounting Standards No. 154, "Accounting Changes and Error Corrections, requires that voluntary changes in accounting principles be reported retrospectively. The standard recognizes that such retrospective restatement is not always practical.
Required: