Change in accounting estimate definition. Analyzing the definition of key terms often provides more insight about concepts. Change in accounting estimate can be defined as – Change in an accounting estimate that results from new information, subsequent development, or improved judgement that impacts current and future periods. Accrual accounting results in areas needing estimates, estimates used to help match expenses with the revenue they were used to generate in accordance with the matching principle. Accounting estimates often impact multiple time periods. Information in the future may have a material impact on the estimates we made in the past. If the future understanding has a significant impact on the financial statements we should consider how to represent this information to the readers of the financial statements.