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Accounting policy and change in accounting estimate

ZZainb8y ago
Hi sir, Could u plz provide simple explanation for those 2 So i can differentiate between them Thanks v much
KimKimTutor8y ago#1
Accounting polices: Cost vs revaluation (or fair value) models for non-current assets FIFO vs WAV cost formulae for inventory Accounting estimates (i.e. estimates in the absence of precise measurement) - depreciation, allowances against inventory/trade receivable balances, many provisions (e.g. a warranty provision)
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