IAS #8 Accounting Policies_en

Al-AZHARUNIVERSITY

Faculty of Economic & business Science

IAS 8 “ACCOUNTING POLICIES “

Changes in Accounting Estimates & Errors

Prepared by:

Elham El-Harazeen

&

Haneen Abu Habeeb

Supervised by:

Dr. Emad Abu Shaaban

CONTENTS

INTRODUCTION

- History of IAS 8

- Definitions

OBJECTIVE

SCOPE

ACCOUNTING POLICIES

- Selection and application of accounting policies

- Consistency of accounting policies

CHANGES IN ACCOUNTING POLICIES

- Implementation changes in accounting policies

- Retroactive application

- Limitations on the retroactive application

- Disclosure

CHANGES IN ACCOUNTING ESTIMATES

- Examples for accounting estimates

- Disclosure

ERRORS

- Limitations on retrospective restatement

- Disclosure of prior period errors

IMPRACTICABILITY IN RESPECT OF RETROSPECTIVE

APPLICATION AND RETROSPECTIVE RESTATEMENT

EFFECTIVE DATE

REFERENCES

Technical Summary

Appendix: Amendments to Other Pronouncements Guidance

on Implementing