Question
How should the effect of a change in accounting estimate be accounted for? A. By retrospectively applying the change to amounts reported in financial statements
How should the effect of a change in accounting estimate be accounted for?
A. By retrospectively applying the change to amounts reported in financial statements of prior periods.
B. As a prior-period adjustment to beginning retained earnings.
C. By reporting pro forma amounts for prior periods.
D. By prospectively applying the change to current and future periods.
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Financial Accounting And Reporting A Global Perspective
Authors: Herv Stolowy, Yuan Ding
5th Edition
1473740207, 978-1473740204
