Can you identify the implications of depreciation accounting policy choices for financial reporting?

Agree with your answer.

For these reasons , the Accounting principles are obvoius regarding Consistency in applying a selected Depreciation method along with Disclosures.

Both are essential for clarifications & transparency matters to protect stakeholders & the public.

The reported profit of an entity can vary based on its choice of depreciation policy.Moreover, even when two entities use the same policy,the depreciation expense can still vary based on the choice of variables _such as the useful life or residual value. Users need to be aware of these potential impact on reported profits.