An Indirect Effect of an Accounting Change Is Any Change

question 22

True/False

An indirect effect of an accounting change is any change to current or future cash flows of a company that result from making a change in accounting policy that is applied retrospectively.

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Definitions:

Planning

Planning is the process of setting goals, defining strategies, and outlining tasks and schedules to achieve desired outcomes, serving as a roadmap for future actions.

Organising

The process of assigning tasks, allocating resources, and arranging activities to implement plans.

Sales Forecasting

A business activity that estimates the future sales of a company's products or services based on historical data, market trends, and analysis.

Program Development

The process of creating, designing, and executing plans or projects aimed at achieving specific objectives, often within organizational, educational, or community contexts.