A change in reporting entity requires footnote disclosure in all subsequent financial statements prepared for the new entity.

Name: A change in reporting entity requires footnote disclosure in all subsequent financial statements prepared for the new entity.
Brand: Quizplus
Rating: 4.8 (47 reviews)

Question

Quizplus · Accepted Answer

A change in reporting entity requires footnote disclosure in the financial statements of the period in which the change occurs and in interim periods within that fiscal year, not in all subsequent financial statements.

A Change in Reporting Entity Requires Footnote Disclosure in All