When changing an accounting policy,AASB 108 requires which of the following to be applied retrospectively?
A)A voluntary change to improve the relevance of information presented.
B)A change due to the adoption of a new accounting standard.
C)A change due to the adoption of a new interpretation.
D)All of the options are correct.

Question

Quizplus · Accepted Answer

AASB 108 requires that voluntary changes in accounting policies, such as those made to improve the relevance of information, be applied retrospectively unless it is impracticable to do so. Changes due to new standards or interpretations are typically applied as specified by the standard or interpretation itself.

When Changing an Accounting Policy,AASB 108 Requires Which of the Following