Answer
The change can be disclosed through a note in the financial statements. However, if a comment is made on the CPA’s report and is executed, it would be more a matter of disclosure rather than consistency.
Work Step by Step
By reducing the useful life of an asset, the comparability nature of financial statements has been affected. However, the change is not an issue of consistency and involves no change in accounting principles or their application methods. Thus, the comment in CPA’s report is not necessary, but if made, it should be a matter of disclosure.
