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IAS 8, Accounting Policies, Changes in Accounting Estimates and Errors – A Closer Look

Muthupandian, K S (2008): IAS 8, Accounting Policies, Changes in Accounting Estimates and Errors – A Closer Look. Published in: The Management Accountant , Vol. 43, No. 10 (October 2008): pp. 753-755.

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Abstract

The International Accounting Standards Board issued the revised version of the International Accounting Standard 8, Accounting Policies, Changes in Accounting Estimates and Errors. The objective of IAS 8 is to prescribe the criteria for selecting, applying and changing accounting policies, together with the accounting treatment and disclosure of changes in accounting policies, changes in accounting estimates and the corrections of errors. This article presents a closer look of the standard (objective, scope and application, definitions, prescribed accounting treatment and disclosures).

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