RA21.2 Real World Emphasis Thomson Reuters Corporation Access the financial statements of Thomson Reuters Corporation for its year ended December 31, 2017 from the company's website at www.thomsonreuters.ca. The company's annual report states, in its business overview, that Thomson Reuters is the "world's leading source of news and information for professional markets." 70 CHAPTER 21 Accounting Changes and Error Analysis Instructions a. Review the Summary of Business and Significant Accounting Policies (Note 1) to the financial state- ments and determine whether the company reported any changes in accounting standards. Identify and explain the change in accounting policy that the company implemented in 2017. If the change was due to an amendment of the standards, provide the details of the effective date of the change. Classify the change as being one of the following: 1. A change in accounting policy mandated by a change in a primary source of GAAP 2. A voluntary change in accounting policy 3. A change in estimate b. For the change reported above, explain whether the change was retrospectively or prospectively applied. What was the effect of each change on the financial statements of Thomson Reuters in each year presented? c. The company also provides details for future accounting changes. Identify these changes and de- scribe the note disclosure provided for these.