About this document
Understanding Accounting Policies and Changes by MicsjadeCastillo is a document available to read on EtoBox.
1. Accounting policies outline the principles, conventions, and practices used to prepare financial statements. Changes in accounting policy require retrospective application, adjusting prior period financials. 2. Accounting estimates involve judgment and are revised if circumstances change. Changes in estimates are applied prospectively only. 3. Prior period errors are corrected retrospectively by restating prior period financial statements.
- Author
- MicsjadeCastillo
- Language
- EN