IAS 8

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    kylie
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    IAS 8 mentioned abt change in accounting policies applied retrospectively.
    what is retrospectively mean? can give example?


    Avatar of MikeLittle
    MikeLittle
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    It means that you have to go back and adjust the historic figures as though the new policy had been in operation since day 1

    I think that should be understandable without any need for me to try to think of illustrative examples

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