Adoption of a new policy in recognition of events that have occurred for the first time or that were previously immaterial is treated as an accounting change.

Name: Adoption of a new policy in recognition of events that have occurred for the first time or that were previously immaterial is treated as an accounting change.
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Quizplus · Accepted Answer

Adoption of a new policy due to events occurring for the first time or previously immaterial is not an accounting change; it's a new application of accounting principles.

Adoption of a New Policy in Recognition of Events That