Accounting Policies and Accounting Estimates (Amendments to IAS 8)

Tags: IFRS

The proposed amendment clarifies the distinction between a change in accounting policy and a change in an accounting estimate, as the two are accounted for differently.

IASB has published for public consultation proposed narrow-scope amendments to IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors. The purpose of the proposed amendments is to help companies distinguish accounting policies from accounting estimates.

The distinction is important because changes in accounting estimates often affect a company’s profit or loss, but changes in accounting policies generally do not. The Board welcomes feedback on its view that the amendments will make the distinction clearer.

The Exposure Draft Accounting Policies and Accounting Estimates (Proposed amendments to IAS 8) is open for comment until 15 January 2018.

 

Relaterte kilder

ED 2017/5 Accounting Policies and Accounting Estimates


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