The relationship between law and history is as the title Thank you

Discipline is a rule within a group that applies only within a group; The law is the rule of a country or even the world, and applies to all citizens of a country or even the world.

There are two ways to deal with changes in accounting policies, one is retrospective, the other is future-applicable, and retrospective adjustment is preferred. If a change in accounting policy can provide more reliable and relevant accounting information, it should be handled by using the retrospective adjustment method, calculating the cumulative impact of the change in accounting policy and adjusting the retained earnings at the beginning of the period. Correction of prior errors should be done retrospectively.

For unimportant prior errors, they can be corrected using the future application method. The importance of the error in the early stage should be judged according to the nature and amount of the error. The accounting treatment of the retrospective restatement method is the same as that of the retrospective adjustment method, which is to transfer the profit distribution - undistributed profit through the profit and loss adjustment of the previous year.

Difference Between Retrospective Adjustment Method and Retrospective Restatement Method:

1. Comparison of the scope of application.

The retrospective adjustment method applies to the accounting treatment of changes in accounting policies, while the retrospective restatement method applies to the accounting treatment of prior-period error corrections. To be more specific, the retrospective restatement method is applicable to the correction of material prior errors, and the future application method is used to correct non-material prior errors, and whether the prior errors are important should be specifically judged according to the nature and amount of the error.

2. Comparison of tax adjustment principles.

Due to the difference in the nature of the impact caused by the change in accounting policy and the impact caused by the error in the previous period, that is, the impact caused by the change in accounting policy is all temporary, and the impact caused by the error in the previous period may be all the difference, or all of the difference, or part of the difference, part of the temporary difference, and all of which may be permanent, so the principle of tax adjustment followed in the adjustment of income tax is also different.

First, since the impact of the change in accounting policy is all temporary differences, only the deferred income tax and income tax expense need to be adjusted when the policy change is adjusted, and there is no need to adjust the income tax payable.

Second, since the impact of the error in the previous period may be a difference, a temporary difference or a permanent difference, when the error in the previous period is corrected, the income tax and income tax expense of the adjustment part of the difference are corrected; Partial adjustments to deferred income tax and income tax expense for temporary differences; If the difference is permanent, there is no adjustment to the income tax expense, neither the income tax payable, nor the deferred income tax.

3. Comparison of account adjustment requirements.

First, under the retrospective adjustment method, the "profit and loss adjustment for previous years" account is no longer used for profit and loss matters, and the specific detailed account for profit distribution is no longer used for profit distribution, but is directly adjusted through the detailed account of "undistributed profit".

Second, under the retrospective restatement method, firstly, the profit and loss matters involved will first pass through the "profit and loss adjustment of previous years" account, and then transfer to the "undistributed profit" detailed account. The second is to directly pass the "undistributed profits" detailed account when it comes to profit distribution. Third, if it does not involve profit or loss or profit distribution, the corresponding accounts shall be adjusted.

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Pointing out the country, inspiring words, you can travel to any dynasty at any time.

Yes, because I also like to read history ......

The law is the bare minimum of morality.

The law is not omnipotent (the limitations of the law).

Law and morality are incompatible.

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