Hi sir,
"Accounting policies must be consistently applied for similar transactions, categories, other events and conditions. The exception being if a standard requires or permits categorization of items for which different policies may be appropriate."
My question is, what does categorization of items mean?
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IAS - 08
4y ago#1Hi,
Think PPE and the different categories such as land and buildings, plant and equipment etc.
Thanks
Thank you sir!
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