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1492 terms

Glossary

Every term is defined twice: once the way a filing would put it, and once the way somebody would explain it to you across a table. The second one is usually the one that sticks.

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Prospective application

Accounting

Applying a change only from the date it is made, leaving prior periods exactly as previously reported.

In plain terms

The route for a change in estimate, and an option offered on transition to many new standards. It leaves a permanent, unlabelled step in any multi-year series.

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Indian stock market glossary · Market Vidyalaya