Changes in accounting estimates

change in method of depreciation is change in accouting policy and not change in accouting estimates

Change in accouting estimate- Restatement of an accounting assumption or forecast. Examples include changing the economic (useful) life or salvage value of a fixed asset. A change in accounting estimate is accounted for prospectively over current and future years. This will cause a change to the expense account in future years. Prior years are not restated. Note that a change in estimate coupled with a change in principle is accounted for as a change in estimate. Disclosure should be made of the particulars surrounding the estimate change.

Very true ans.

But you made it as a Joke!!!!!

Anyhow Dear,

Estimates can't be made for 100 %. That is the reason for prospective effeect.

Policies are for Retospective hence you should make it accurately.

 correct