CHANGES IN ACCOUNTING ESTIMATES AND ERRORS

/Tag:CHANGES IN ACCOUNTING ESTIMATES AND ERRORS

Refund of earned income

How to treat the income which was earned and accounted in 2007, which is being partly refunded in 2009. The organisation had legal rights to the income and there was no error in accounting, so it is not a prior period item and there is no changes in the accounting policy.  The income is just [...]

By |December 10th, 2009|IAS 18|6 Comments

IAS 8 – ACCOUNTING POLICIES, CHANGES IN ACCOUNTING ESTIMATES AND ERRORS

Dear Experts, Please give your opinion on the following on IAS-8 An expense provision was taken twice, Whether IAS 8 will apply and need restatement of previous year or to be considered as liability w/back and take it to income. An estimate of an expense was taken on adhoc and that was in excess of [...]

By |May 27th, 2009|OTHER IFRS|1 Comment