Accounting policy and change in accounting estimate

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April 27, 2018 at 12:02 pm #449064
zkaay
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Hi sir,

Could u plz provide simple explanation for those 2

So i can differentiate between them

Thanks v much
April 27, 2018 at 2:43 pm #449090
Kim Smith
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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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