IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors
Associated Courses
Course Description
Upon completion of this module you will be able to identify situations where accounting estimates are used, distinguish changes in accounting policies from changes in accounting estimates, identify situations where prospective and retrospective application is the correct approach and define proper accounting treatment for both models. The course contains review questions after each of the course components. The purpose of these questions is to enhance understanding. The result of review questions does not count in your final quiz result.
Course Structure
The eLearn introduces the following topics:
- Objective and scope: Definitions, Materiality, Accounting Policies, Changes in Accounting Estimates and Errors
- Sources of accounting policies: Selecting and applying accounting policies
- Changes in accounting policy: Retrospective application, Transitional provision
- Changes in accounting estimates: Accounting estimates vs. accounting policies
- Errors: Correction of errors
- Disclosures: New accounting standards not yet effective, Change in accounting estimates
- Final Quiz
Should Attend
This course is intended for professionals in financial and actuarial functions.
Prerequisites
There are no prerequisites to follow this eLearn
Assessment
A final quiz will test your knowledge.
Key-Features
This course will enable you to:
- understand the concept and definition of accounting policies, accounting estimates, materiality and errors
- identify situations where accounting estimates are used
- distinguish changes in accounting policies from changes in accounting estimates
- identify situations where prospective and retrospective application is the correct approach
- define proper accounting treatment for the retrospective approach
- understand the correct accounting treatment of prior period errors through scenarios
- review and understand IAS 8 standard’s disclosure requirements
Course Structure
The eLearn introduces the following topics:
- Objective and scope: Definitions, Materiality, Accounting Policies, Changes in Accounting Estimates and Errors
- Sources of accounting policies: Selecting and applying accounting policies
- Changes in accounting policy: Retrospective application, Transitional provision
- Changes in accounting estimates: Accounting estimates vs. accounting policies
- Errors: Correction of errors
- Disclosures: New accounting standards not yet effective, Change in accounting estimates
- Final Quiz
Should Attend
This course is intended for professionals in financial and actuarial functions.
Prerequisites
There are no prerequisites to follow this eLearn
Assessment
A final quiz will test your knowledge.
Key-Features
This course will enable you to:
- understand the concept and definition of accounting policies, accounting estimates, materiality and errors
- identify situations where accounting estimates are used
- distinguish changes in accounting policies from changes in accounting estimates
- identify situations where prospective and retrospective application is the correct approach
- define proper accounting treatment for the retrospective approach
- understand the correct accounting treatment of prior period errors through scenarios
- review and understand IAS 8 standard’s disclosure requirements
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