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accounting policy v accounting estimate

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › accounting policy v accounting estimate

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  • February 14, 2013 at 2:42 am #117809
    rania
    Member
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    what is the difference between them?nd what are they?

    February 14, 2013 at 7:37 am #117825
    MikeLittle
    Keymaster
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    an accounting policy is, for example, to depreciate an asset over its estimated useful life

    an accounting estimate is, for example, that an asset’s useful life can be estimated as being 5 years

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