Indirect effects of changes in an accounting principle are those that change current or future cash flows and are applied prospectively.
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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
Q12: Explain why comparability and consistency are considerations
Q14: If a mandatory accounting change requires too
Q15: There are four types of accounting changes
Q16: When making a voluntary accounting change, a
Q17: Retrospective changes require restatement of all periods
Q18: Mandatory accounting changes require retrospective application of
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