How to update a caller form when a new record is created in a separate form in AX 2012

Today I want to share a code sample in standard AX application to update a caller form.

Problem description
A form (caller) has a menu item to open a separate form (dialog) to create a new record. After the new record is created and the dialog form is closed, the caller form is updated and the new record is made the current one. What are the ways to achieve it?

Hints
Analyse \Forms\EcoResProductCreate\Methods\updateCallers method.