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IAS8

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › IAS8

Viewing 2 posts - 1 through 2 (of 2 total)
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  • August 3, 2018 at 4:13 pm #465991
    iamaccastudent
    Participant
    • Topics: 3
    • Replies: 0
    • ☆

    Hi Sir,

    When there is a new IFRS standard, is that a change in accounting policies under IAS8?

    E.g. IAS16 to IFRS17, so we treat it retrospectively?

    tq!

    August 5, 2018 at 6:37 pm #466330
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 7065
    • ☆☆☆☆☆

    Hi,

    No, when there is a new accounting standards there is specific guidance given about how to treat it under the new rules and whether retrospective treatment is to be adopted.

    Thanks

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