Describe the two methods for reporting accounting changes and how they differ.
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Q1: Accounting changes detract from which one of
Q2: A firm may choose to apply indirect
Q3: Accounting changes are only permitted when _.
A)
Q4: Accounting principle changes are generally handled retrospectively.
Q6: Retrospective changes require all but which of
Q7: Accounting estimate changes are handled prospectively.
Q8: Direct effects of changes in an accounting
Q9: Accounting entity changes are handled prospectively.
Q10: Changes in accounting principles can be mandatory
Q11: Prospective changes require changes be made to
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