IAS8

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August 3, 2018 at 4:13 pm #465991
iamaccastudent
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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
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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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