Question: Your audit client Fairy Meadow Ltd (FML) has changed from the straight-line method to the declining balance method of depreciation for all newly acquired assets.

Your audit client Fairy Meadow Ltd (FML) has changed from the straight-line method to the declining balance method of depreciation for all newly acquired assets. This change has no material effect on the current year's financial report but is reasonably certain to have a substantial effect in later years. FML has adequately disclosed in the notes to the financial accounts of the effect of the change

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