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Stephen Widberg.
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Noah098
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Sir change in carrying amount or NRV of an asset is considered as a change in accounting estimate whereas a reduction in carrying amount of an asset from $X to $0 is considered a write off, but not a change in accounting estimate.
Why so?
Stephen Widberg
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They are both changes in accounting estimate.
As stated before, don’t ‘over-think’ in the exam or you will get confused.:)
Noah098
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