Which of the following is true regarding whether IFRS specifically addresses the accounting and reporting for effects of changes in accounting policies? 
Definitions:
Price Concessions
Adjustments made to the original price of a good or service in response to negotiating tactics or market demands.
Buyer
An individual or entity that acquires goods or services in exchange for money or other forms of payment.
Before-Tax Profit
The earnings of a company before taxes have been deducted, representing its profitability.
Fixed Costs
Expenses that do not change with varying levels of production or sales, such as rent or salaries.
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