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Any Boy Scout may earn any merit badge at any time. You don't need to have had rank advancement to be eligible.
You must have another person with you at each meeting with the merit badge counselor. This person can be another Scout, your parents or guardian, a brother or sister or other relative, or a friend.
You are expected to meet the requirements as they are stated—no more and no less. You are expected to do exactly what is stated in the requirements. If it says "show or demonstrate," that is what you must do. Just telling about it isn't enough. The same thing holds true for such words as "make," "list," "in the field," and "collect," "identify," and "label."
If a Scout has already started working on a merit badge when a new edition of the pamphlet is introduced, he should continue to use the same merit badge pamphlet and fulfill the requirements therein to earn the badge. He need not start all over again with the new pamphlet and possibly revised requirements.