Which of the following is not correct regarding the provisions of IAS No. 8 on accounting changes and error corrections?
a. IAS No. 8 requires that results from prior periods be presented for all changes in accounting principles.
b. IAS No. 8 allows a change in accounting principle to be accounted for by reflecting the cumulative effect of the change in the income of the current period without restating prior-period results.
c. Under IAS No. 8, the recommended approach for a change in accounting principle is that results from prior periods should be restated.
d. IAS No. 8 requires a change in accounting estimate to be reflected in the current and future periods.
A
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