Change in Accounting Estimate Definition

Below please find a definition of “Change in Accounting Estimate”

Financial Analysis Training & Glossary TermsChange in Accounting Estimate: In the accounting world, financial estimates are made with respect to depreciable assets, bad debts expense and monthly expenses. When there is a need to change these estimates, the change affects not only the current periods but also the future periods. This condition is termed as change in accounting estimate.

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