IAS 8 Best summary policies estimates and errors
IAS 8 Best summary policies estimates and errors comprises a high level summary of the three items in this standard:
- Accounting policies,
- Accounting Estimates
- Errors
1. Accounting policies |
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Definition: Accounting policies are the specific principles, bases, conventions, rules and practices applied by an entity in preparing and presenting financial statements. |
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Selection and application of accounting policies:
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