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CPA FAR > Conceptual Framework & IFRS > Flashcards

Conceptual Framework & IFRS Flashcards

1
Q

Change in accounting estimated

A

Prospective

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2
Q

Change in accounting principles

A

Retrospectively with an adjustment to the beginning retained earnings. However, in the case of a change to LIFO have to go prospectively

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CPA FAR (10 decks)

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