LO1-06: Explain the appropriate accounting treatment required when a change in depreciation, amortization, or depletion method is made.
Change in depreciation, amortization, or depletion method
GAAP allows a company to change from one depreciation, amortization, or depletion method (e.g., double-declining-balance) to another (e.g., straight-line depreciation). The only requirement is that the company explain and justify the change.