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ias 8 correction of material prior period errors

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › ias 8 correction of material prior period errors

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  • August 30, 2018 at 6:00 pm #470202
    s9mph9w5
    Member
    • Topics: 1
    • Replies: 0
    • ☆

    how to correct an error if tax authorities do not allow prior tax re assessments to be re opened

    August 30, 2018 at 9:23 pm #470219
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 7221
    • ☆☆☆☆☆

    Hi,

    In FR we do not need to concern ourselves with what the tax authorities do with the error that we’ve made. We just need to be able to correct the material error retrospectively under IAS 8.

    Thanks

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