Changes in Depreciation Method Under IFRS Are Reported in Current

question 59

True/False

Changes in depreciation method under IFRS are reported in current and future periods, but under U.S. GAAP such changes are treated as prior period adjustments.

---

Definitions:

United States

A country in North America, constituted of 50 states, known for its significant influence in global affairs, economics, and culture.

Iran

A country in the Middle East, known formally as the Islamic Republic of Iran, with a rich history extending back to ancient Persia and a significant influence in the region politically, culturally, and economically.

Iranian Forces

The military forces of Iran, comprising the Islamic Republic of Iran Army, Islamic Revolutionary Guard Corps (IRGC), and law enforcement forces, responsible for defending the country's sovereignty and territorial integrity.

Frozen Assets

Financial assets that have been blocked and made inaccessible, typically due to legal or regulatory reasons.