‘Accounting Policies, Changes in Accounting Estimates and Errors’

Use the internet to access Weyerhaeuser (wwwl.weyerhaeuser.com), International paper (www.internationalpaper.com), or Boise Cascade (www.boisecascade.com)
Skim over the information presented on the website about the company’s products and operations. Then discuss why process costing is an appropriate product-costing method of this company

1.Why does AASB 108 ‘Accounting Policies, Changes in Accounting Estimates and Errors’ require disclosure of changes in accounting policy?

2. Briefly describe the treatment of a mandatory change in accounting policy required by AASB 108 ‘Accounting Policies, Changes in Accounting Estimates and Errors’.

3.Briefly describe the treatment of a voluntary change in accounting policy required by AASB 108 ‘Accounting Policies, Changes in Accounting Estimates and Errors’. Does this differ from a change that is required by an Australian accounting standard that contains no transitional provisions?

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