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accounting policy v accounting estimate

This topic has 1 reply, 2 voices, and was last updated 12 years ago by MikeLittle.

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February 14, 2013 at 2:42 am #117809
rania
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what is the difference between them?nd what are they?
February 14, 2013 at 7:37 am #117825
MikeLittle
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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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