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Is it possible somebody to list me / as many as possible/ adjusting and non adjusting …. when we change the accounting policy and estimates.
Generally / as far as I remeber when we change accounting estimates this event is non-adjusting/ like depreciation method, when we change accounting policy is adjusting. Is it possible to be confirmed and the methods to be listed.Examples of changes in accounting policy- A REAL
A- Asset measurement changed from depreciated historic cost to revaluation
R- Revenue recognition policy is changed
E- Expenses reclassified from cost of sales to administrative
L- Legislation
Examples of changes in accounting estimates- PUB
P- Provisions for warranty obligations
U- Useful lives of property, plant and equipment
B- Bad debts
Please remember changes in accounting policy should be applied retrospectively while those of estimates should be applied prospectively.Examples of changes in accounting policy- A REAL
A- Asset measurement changed from depreciated historic cost to revaluation
R- Revenue recognition policy is changed
E- Expenses reclassified from cost of sales to administrative
L- Legislation
Examples of changes in accounting estimates- PUB
P- Provisions for warranty obligations
U- Useful lives of property, plant and equipment
B- Bad debts
Please remember changes in accounting policy should be applied retrospectively while those of estimates should be applied prospectively.
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