IAS 8: ACCtg. 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
• 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