Reporting "changes in accounting principles" is important because
A)FASB has declared a new GAAP
B)consistent application improves intracompany comparability
C)the use of FIFO inventory reporting by all companies must be properly disclosed
D)readers of financial statements must know of changes in accounting techniques

Question

Quizplus · Accepted Answer

Consistent application of accounting principles improves intracompany comparability, allowing stakeholders to better understand and compare financial statements over time.

Reporting "Changes in Accounting Principles" Is Important Because