ias 8Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › ias 8This topic has 1 reply, 2 voices, and was last updated 8 years ago by MikeLittle.Viewing 2 posts - 1 through 2 (of 2 total)AuthorPosts June 7, 2017 at 10:58 am #391269 adarsh1997ParticipantTopics: 646Replies: 282☆☆☆☆For a change in the accounting policy, the change should applied retrospectively, with an adjustment made to the opening balance of RE.-I am bit confused here. When it says “opening balance of RE”, does this mean the RE balance of current year or previous years?Thanks. June 7, 2017 at 11:18 am #391275 MikeLittleKeymasterTopics: 27Replies: 23328☆☆☆☆☆It means the retained earnings figure as reported on last year’s statement of financial positionAuthorPostsViewing 2 posts - 1 through 2 (of 2 total)The topic ‘ias 8’ is closed to new replies.