International Accounting Standard 8 Requires

International Accounting Standard 8 requires

A) a restatement of prior years' income for a change in accounting principle.
B) the reporting of the cumulative effect of a change in accounting principle as part of net income in the year of the change.
C) the reporting of the cumulative effect of a change in accounting principle as a direct adjustment to beginning retained earnings in the year of the change.
D) the amortization of the cumulative effect of a change in accounting principle over the future periods expected to be affected by the change.

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