Under IFRS, a voluntary change in accounting method may only be made by a company if * a. A new standard mandates the change in method. b. Management prefers the new method. c. The new method provides reliable and more relevant information. d. There is no prohibition of the method in the standards.

Under IFRS, a voluntary change in accounting method may only be made by a company if * a. A new standard mandates the change in method. b. Management prefers the new method. c. The new method provides reliable and more relevant information. d. There is no prohibition of the method in the standards.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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Question

Under IFRS, a voluntary change in accounting method may only be made by a company if *

a. A new standard mandates the change in method.

b. Management prefers the new method.

c. The new method provides reliable and more relevant information.

d. There is no prohibition of the method in the standards.

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