tailieunhanh - Lecture IFRS primer international GAAP basics: Chapter 21 - Wiecek, Young

Chapter 21 - Accounting policies, changes in accounting estimates and errors: IAS 8. The main contents of the chapter consist of mains parts: Related standards, IAS 8, looking ahead, end-of-chapter practice. | Accounting Policies, Changes in Accounting Estimates and Errors: IAS 8 Wiecek and Young IFRS Primer Chapter 21 Accounting Policies, Changes in Accounting Estimates and Errors Related standards IAS 8 Looking ahead End-of-chapter practice Related Standards FAS 162 The hierarchy of generally accepted accounting principles FAS 154 Accounting changes and error corrections—a replacement of APB Opinion No. 20 and FAS 3 Related Standards IAS 1 Presentation of financial statements Framework for the preparation and presentation of financial statements IAS 12 Income taxes IAS 8 – Overview Objective and scope Selection and application of accounting policies Changes in accounting policies Changes in accounting estimates Corrections of errors IAS 8 – Objective and Scope Key is comparability Objectives: How to choose accounting policies Reporting changes in accounting policies Reporting changes in estimates Reporting the correction of errors IAS 8 – Selection and Application of Accounting Policies For a specific transaction or event - First, look to the IFRS that deals specifically with that situation: International Financial Reporting Standards, International Accounting Standards, and Interpretations developed by IFRIC or predecessor SIC Appendices and implementation guidance attached to these are an integral part of each only if stated on the specific standard. IFRS standards and interpretations - top of the GAAP hierarchy When applied – information is assumed to be relevant and reliable What if no specific IFRS that applies? IAS 8 – Selection and Application of Accounting Policies If no specific IFRS that applies: Use judgment Develop a policy that results in relevant and reliable information Hierarchy of sources to use Other IFRS with similar situations and issues Conceptual framework basics If not in conflict with above, use other sources: Pronouncements of other standard setters with similar frameworks, accounting literature, . | Accounting Policies, Changes in Accounting Estimates and Errors: IAS 8 Wiecek and Young IFRS Primer Chapter 21 Accounting Policies, Changes in Accounting Estimates and Errors Related standards IAS 8 Looking ahead End-of-chapter practice Related Standards FAS 162 The hierarchy of generally accepted accounting principles FAS 154 Accounting changes and error corrections—a replacement of APB Opinion No. 20 and FAS 3 Related Standards IAS 1 Presentation of financial statements Framework for the preparation and presentation of financial statements IAS 12 Income taxes IAS 8 – Overview Objective and scope Selection and application of accounting policies Changes in accounting policies Changes in accounting estimates Corrections of errors IAS 8 – Objective and Scope Key is comparability Objectives: How to choose accounting policies Reporting changes in accounting policies Reporting changes in estimates Reporting the correction of errors IAS 8 – Selection and .

• Kế toán - Kiểm toán
• International Financial Reporting Standards
• Non financial assets
• Reporting basics
• Financial assets
• Reporting entity
• Accounting policies
• International Accounting Standard
• Chuẩn mực kế toán quốc tế
• International Accounting Standard 8
• Accounting estimates
• Borrowing costs
• Lecture Advanced financial accounting
• Bài giảng Kế toán tài chính nâng cao
• Advanced financial accounting
• Accounting estimate
• Retrospective application
• Changes in accounting estimates
• Retrospective restatements
• Accounting Standard
• Tiêu chuẩn kế toán
• Chuẩn mực kế toán
• Accounting Standards Interpretations
• Accounting for Taxes on Income
• Finance accounting and Auditing
• Financial distress
• Ordinary Least Squares (OLS)
• Professional judgment
• Accounting for taxes
• Financial statements
• Earnings Per Share
• Construction Contracts
• Compendium of accounting standards
• Biological asset accounting policies
• Good corporate governance
• Company size
• Financial performance
• Knowledge about renewable energy
• International Accounting Standard 23
• Qualifying asset
• Accounting changes
• Error analysis
• Intermediate accounting
• Lecture Intermediate accounting
• Related Party Disclosures
• Sales Transactions
• Consolidated Financial Statements
• Disclosure of Segment Information