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Change in accounting policy

7 August 2010 2,559 views 3 Comments

IAS 8 provides for chnages in accounting policies. Do you know of any companies that have changed their accounting policy from Market to historical costs for PPE

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3 Comments »

  • patriciawalters said:

    Some UK companies changed from revaluation to cost model on transition to IFRS. I know of only one company that has down so as a change in accounting policy under IFRS: China Southern Airlines.

    In 2009, China Southern changed its accounting policy for buildings and owned aircraft from revaluation to cost model. You can download this annual report on its website. It’s also listed on the New York Stock Exchange (nyse.com) and you can download the financial statements on SEC form 20-F from the NYSE website. Go to listing director, nyse, name, and C. Once you get to the company, you can click on SEC filings and get the 20F.

    They do justify it as being more useful to users of the financial statements on basis of comparability with competitors and, with respect to owned aircraft, greater consistency with the accounting for leased aircraft.

    If anyone knows of another company, I’d be interested as well as the original questioner.

    Patricia Walters

    # 8 August 2010 at 12:30 am
  • MbAlog said:

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    # 10 August 2010 at 9:25 am
  • ifrslist
    ifrslist said:

    [New Post] Change in accounting policy – http://www.ifrslist.com/2010/08/change-i...
    via Twitoaster

    # 11 August 2010 at 1:16 pm

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