Neither does this publication illustrate all of the disclosure requirements of Topic 606, which will depend on an entity’s underlying Thus, there should be valid reasons for a change in method of depreciation. As such, the disclosures do not represent complete financial statements in accordance with US GAAP or SEC reporting requirements. Notes to the Financial Statements for the financial year ended 31 December 2005 These notes form an integral part of and should be read in conjunction with the accompanying financial statements. Virtually all financial statements need footnotes to provide additional information for several of the account balances. This is the Principle of Consistency. A business’s financial report is much more than just the financial statements; a financial report needs additional information, called disclosures. However, in order to prevent manipulation, a company changing its accounting policy must have a strong reason for any such change.

– operating segments note; and – changes in accounting policies note. 1. General 1,2 PwC Holdings Ltd (the “Company”) is incorporated and domiciled in Singapore and is publicly traded on the Singapore Exchange. The sample disclosures in this document reflect accounting and disclosure requirements outlined in SEC Regulation . 5 Changes in accounting policies; 5.5 Disclosure of a change in accounting policy; 5.5 Disclosure of a change in accounting policy . Footnotes are one form of disclosure included in a financial report. This change in accounting did not have an impact on our wireless activities, due to the absence of these types of expenses in those business activities. S-K, SEC Regulation S-X, and ASC 7401 that are effective as of December 31, 2014. Any change in the method of depreciation implies a change in accounting estimate. Changes in Accounting Principles Accounting standards allow some flexibility in choice of methods that can be applied to a specific class of transactions. Accounting policies and principles need to be consistently applied while recording the financial transactions. The cumulative effect of the change on Retained Earnings as of January 1, 2013, was an increase of approximately $2,959 on our consolidated balance sheet.


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