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Question 1:
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Identify all the accounting policy changes and accounting estimates that Harnischfeger made during 1984. Estimate, as accurately as possible, the effect of these on the company’s 1984 reported profits
Question 2:
What do you think are the motives of Harnischfeger’s management in making the changes in its financial reporting policies? Do you think investors will see through these changes?
Question 3:
Assess the company’s future prospects, given your insights from questions 1 and 2 and the information in the case about the company’s turnaround strategy
