AICPA每日一练之FAR【2016-2-28】

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Silver uses IFRS to prepare its financial statements. During year 4, Silver voluntarily changes its accounting method because the new method will provide more reliable and relevant information. Silver can estimate the effects of the change. How should Silver treat the change in accounting principle?

A. On a prospective basis.

B. On a retrospective basis.

C. By restating the financial statements.

D. By a cumulative adjustment on the income statement..

Answer:B

This answer is correct because IFRS requires changes in accounting principles to be reported by giving retrospective application to the earliest period presented. (会计政策变更一般都是追溯调整)

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