In the year of a change in an accounting policy, the change and its impact must be disclosed in the notes to the financial statement.

Name: In the year of a change in an accounting policy, the change and its impact must be disclosed in the notes to the financial statement.
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Question

Quizplus · Accepted Answer

This disclosure is required to ensure transparency and provide users of the financial statements with a clear understanding of the change and its effects on the financial position and performance of the entity.

In the Year of a Change in an Accounting Policy