The financial statements of P G are provided in Appendix 5B or can be accessed at the books companion website, www wiley com college kieso Instructions Refer to P Gs financial statements and the accompanying notes to answer the following questions (a) Were there changes in accounting principles rep...

a New Pronouncements and Reclassifications PG reported the following changes in accounting principles FAIR VALUE MEASUREMENTS On July 1 2008 we adopted new accounting guidance on fair value measuremen ...

The financial statements of P&G are provided in Appendix 5B or can be accessed at the books

Question:

The of P&G are provided in Appendix 5B or can be accessed at the book’s companion website, www.wiley.com/college/kieso.
Instructions
Refer to P&G’s and the accompanying notes to answer the following questions.
(a) Were there changes in accounting principles reported by P&G during the three years covered by its income statements (2007–2009)? If so, describe the nature of the change and the year of change.
(b) What types of estimates did P&G discuss in 2009?

Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...