The effect of a change in accounting principle that is inseparable from the effect of a change in accounting estimate should be reported: Group of answer choices
a.As a separate disclosure after income from continuing operations, in the period of changeand future periods if the change affects both.
b.As a component of income from continuing operations, in the period of change and fu-ture periods if the change affects both.
c.As a correction of an error.
d.By restating the financial statements of all prior periods presented

Question

north1183 north1183

30-12-2019
Business

contestada

The effect of a change in accounting principle that is inseparable from the effect of a change in accounting estimate should be reported: Group of answer choices
a.As a separate disclosure after income from continuing operations, in the period of changeand future periods if the change affects both.
b.As a component of income from continuing operations, in the period of change and fu-ture periods if the change affects both.
c.As a correction of an error.
d.By restating the financial statements of all prior periods presented

Respuesta :

RELAXING NOICE

Otras preguntas

How do these three images illustrate both the challenges and opportunities associated with trade and globalization? Be sure to discuss each of the 3 images in y

Question 4 of 10Bloggers try to bring readers closer to events and ideas:A. primarily through daily stories about themselves.○ B. through text messages, commerc

Summarise the main purpose and principles of relevant legislation and codes of practice relating to mental capacity and how these principles interact

Estrelas quentes, como as supergigantes de tipo espectral B, apresentam ventos estelares rápidos, com velocidades tipicamente da ordem de 2km / s Essas estrelas

Henry has $3,261 in an account. The interest rate is 5% compounded annually.To the nearest cent, how much interest will he earn in 1 year?Use the formula B = p(

You want to illustrate migration patterns in a presentation using the magic movie transition. How do you add the Magic Movie

Which is not a concern that socially responsible consumers have?environmental impactOcharitable activitiesproduction costslabor practices

6. Rewrite the following sentence in Active Voice. Alangu8age is not constituted by emojis 7. The poem's story is told by an omniscient speaker. 8. The bird was

Which of the following is an example of chemical energy being transformed to mechanical energy? Select all that apply☐ aObОсLabtoonsOdTime

62 Explain the various factors that contributedAfrikaner nationalism from agOftothe rise1948. essay

jafransp jafransp · Answer 1 · 2020-01-07T04:55:57+01:00

Answer:

B. As a component of income from continuing operations, in the period of change and future periods if the change affects both.

Explanation:

Option A - The effect of a change in accounting principle cannot be reported in the disclosure after income from continuing operations.

Option B - It is the answer because the accounting estimates should be reported as a component of income from continuing operations. It changes the overall accounting reporting treatment as a change in estimates.

Option C - Accounting estimates cannot be reported as a correction of an error as it is a component of income from continuing operations.

Option D - It cannot be the answer because accounting estimates can help to change the prospective years financial statement not the restating of current year's financial statements of all prior periods.