reclassification adjustments
This query is : Resolved
08 July 2010
Dear all,
can any one please tell me what is "reclassification adjustments"?
thank you,
can any one please tell me what is "reclassification adjustments"?
thank you,
VINOD ARORA
(Expert)
06 August 2010
As per IAS/USGAAP, if there is some change in the accounting policy, then you have prepare your accounts retrospectively vis-a-vis new accounting policy. In the process, whatever adjsutments are made to closed accounts are called reclassification adjsutments.
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