- This topic has 1 reply, 2 voices, and was last updated 6 years ago by .
Viewing 2 posts - 1 through 2 (of 2 total)
Viewing 2 posts - 1 through 2 (of 2 total)
- You must be logged in to reply to this topic.
Interactive BPP books for September 2026 exams, recommended by OpenTuition.
Get discount code >>
Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AAA Exams › prospectively and retrospectively
Hi Kim,
For accounting policy, i know that it will be adjusted retrospectively. That means from opening balance which is from last year ?
Further for accounting estimate, i know that it will be adjusted prospectively. That means not like accounting policy like above, it will only be adjusted from this year onwards
am i on the right track ?
Yes – “retro” is backward looking – “prospect” is forward looking.
