Question: IFRS requires companies to use which method for reporting changes in accounting policies? (a) Cumulative effect approach. (b) Retrospective approach. (c) Prospective approach. (d) Averaging

IFRS requires companies to use which method for reporting changes in accounting policies?

(a) Cumulative effect approach.

(b) Retrospective approach.

(c) Prospective approach.

(d) Averaging approach.

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