Apple's iOS 7.1 update brought some cool new improvements to the revamped operating system, but one of those updates is sure to make parents everywhere happy.

Apple has added a new option for parents and those who share their iDevices with others, which allows them yo set up in-app purchase restrictions. This new function is intended to help avoid unauthorized purchases and get the Federal Trade Commission (FTC) off Apple's back.

In 2011, Apple lost an expensive class-action lawsuit to angry parents whose children had racked up thousands of dollars of in-app purchases. Google now faces a similar lawsuit, although the in-app purchase bill only amounted to $66 in that case. In January, the FTC ordered Apple to fix the problem of unauthorized purchases by March 31. It looks like Apple is anxious to get it over with, seeing as it just released the fix in its iOS 7.1 update.

The first time you move to make an in-app purchase after downloading iOS 7.1, a window will pop up to inform you that after you enter your password to make the initial purchase, there is a 15 minute window in which you will be able to make purchases without being asked for authorization again. Once it's done with that spiel, it also asks you if you'd like to change your settings for in-app purchases.

If you hit "Settings," iOS 7.1 will send you to the Settings menu. You then tap General, Restrictions and tap Enable Restrictions. It will ask you to set a restrictive passcode. Afterwards, you can choose which apps you want to have the purchase restrictions. So if your kid won't be buying books like crazy in iBooks, but you will, you don't have to deal with the hassle. However, for gaming and other apps your kids might use a lot, you'll want to restrict their ability to make purchases.

This action will let you block in-app purchases from that app forever - or at least until you decide to change your settings. If you don't want to block in-app purchases completely, you can do the following: Go to Settings, tap General and then Restrictions. Enter the passcode you just made. Hit in-app purchases to turn the option on again. Look in the Restrictions menu until you find the Require Password option. Then tap it and change it from 15 minutes to Immediately. Now it will always ask you for a passcode no matter what when you go to make an in-app purchase.

And thus, Apple avoids upsetting parents who were once victims of sticky-fingered mistakes.