Changes in Depreciation Method Under IFRS Are Reported in Current

question 106

True/False

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

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Definitions:

Corporate Articles

constitute the foundational documents that outline the formation, ownership, and operational guidelines of a corporation.

Director's Right

Legal entitlements and authorities granted to a director of a company, including decision-making powers and duties towards the company and its stakeholders.

Corporate Office

The central or main office of a corporation where key administrative and executive activities are conducted.

Board Of Directors

A group of individuals elected by the shareholders of a corporation to oversee the management and make major decisions regarding the corporation's affairs.