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- IAS 8 – Accounting Policies, Changes in Accounting Estimates and Errors 0%
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Question 1 of 6
1. Question
To the extent that a change in an accounting estimate gives rise to changes in assets and liabilities, or relates to an item of equity, it shall be recognised by adjusting the __________ of the related asset, liability or equity item in the period of the change.
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Question 2 of 6
2. Question
Profit or loss of which of the following periods may a change in an accounting estimate affect?
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Question 3 of 6
3. Question
Financial statements do not comply with IFRSs if they contain _______ to achieve a particular presentation of an entity’s financial position, financial performance or cash flows.
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Question 4 of 6
4. Question
When it is impracticable to determine the cumulative effect, at the beginning of the current period, of an error on all prior periods, the entity shall restate the comparative information to correct the error retrospectively from the earliest date practicable.
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Question 5 of 6
5. Question
Retrospectively applying a new accounting policy or correcting a prior period error requires distinguishing information that…
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Question 6 of 6
6. Question
Under which of the following circumstances may it be impracticable to adjust comparative information for one or more prior periods to achieve comparability with the current period?
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