Global Standards for the world economy

Saturday 10 December 2016

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IFRS Interpretations Committee

Accounting Policies, Changes in Accounting Estimates and Errors: Distinction between a change in accounting policy and a change in accounting estimate


 Proposed Amendments to IAS 8 (Distinction between a change in accounting policy and a change in accounting estimate)

Project Objective

The objective of the proposed amendment is to clarify the existing distinction between a change in accounting policy and a change in accounting estimate.

In September 2014 the IFRS Interpretations Committee informed the IASB about divergent practices regarding the assessment of whether an accounting change represents a change in accounting policy, or a change in accounting estimate, in accordance with IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors.