Detailed guidance regarding the accounting and reporting for the indirect effects of changes in accounting principle is available under
A) both U.S. GAAP and IFRS.
B) neither U.S. GAAP nor IFRS.
C) U.S. GAAP only.
D) IFRS only.

Question

Quizplus · Accepted Answer

U.S. GAAP provides detailed guidance regarding the accounting and reporting for the indirect effects of changes in accounting principle, while IFRS does not provide such guidance.

Detailed Guidance Regarding the Accounting and Reporting for the Indirect