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John Moffat.
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princepanda168
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May I know that what are the accounts that we have to change the opening balance due to the change in accounting policy? Example: from FIFO to AVCO, from Straight Line to Reducing Balance.
Thank You for your answer.
John Moffat
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The change will affect the accumulated depreciation and the retained earnings.
wagacira1
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should be the retained earnings account
John Moffat
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Have you read my previous reply?! 🙂
John MoffatViewing 4 posts - 1 through 4 (of 4 total)
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