What Are Two Reasons Why an Accounting Change May Be

question 18

Essay

What are two reasons why an accounting change may be permitted to give modified retrospective or prospective treatment?

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Definitions:

Active Listening

A method of communication where the listener fully focuses on the speaker, comprehends their message, offers responses, and remembers what was conveyed.

One-Way Communication

One-way communication describes a process where information is sent from a sender to a receiver without expecting or receiving any feedback or response.

Listener Involvement

The engagement and active participation of an audience member in the communication process.

Communication

The process of exchanging information, ideas, feelings, or instructions between individuals or groups, often involving a shared understanding.