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SFAS 154 requires that changes in depreciation, amortization, or depletion methods for long-lived, nonfinancial ets must be accounted for as a change in accounting estimate due to a change in accounting principle. This change in U.S. GAAP mirrors the accounting treatment in IAS 8. Note that companies will have to demonstrate that a change in estimate stemming from a change in accounting principle is preferable (more relevant under IAS 8). Such changes must be accounted for prospectively, with no restatement of previously issued financial statements.