Entities will prepare and present financial statements anyhow when not govern or guided a by specific policy, standard or principle. How will management of a firm treat an item or transaction that do not have any accounting standard or policy? How will a change in existing accounting standard or policy be effected by entities? How should estimates and errors be accounted for? The answer to the above questions are contained in the video above. All the information needed to understand the international accounting standard 8 as well solving practical questions are provided in the video. Thanks for learning with us. RONAS: Comprehending the Complications.
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Chapters
00:00 Introduction
07:15 Selection of Accounting Policy
12:15 Change in Accounting Policy
16:53 Accounting treatment of Change of in Policy
18:37 First practical sample question solutions
28:57 Estimates
34:27 Errors
36:47 Second practical question solutions
46:57 Third practical sample question solutions
55:01 Disclosure requirements
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