TAILIEUCHUNG - Lecture IFRS primer international GAAP basics: Chapter 21 - Wiecek, Young

Chapter 21 - Accounting policies, changes in accounting estimates and errors: IAS 8. The main contents of the chapter consist of mains parts: Related standards, IAS 8, looking ahead, end-of-chapter practice. | Accounting Policies, Changes in Accounting Estimates and Errors: IAS 8 Wiecek and Young IFRS Primer Chapter 21 Accounting Policies, Changes in Accounting Estimates and Errors Related standards IAS 8 Looking ahead End-of-chapter practice Related Standards FAS 162 The hierarchy of generally accepted accounting principles FAS 154 Accounting changes and error corrections—a replacement of APB Opinion No. 20 and FAS 3 Related Standards IAS 1 Presentation of financial statements Framework for the preparation and presentation of financial statements IAS 12 Income taxes IAS 8 – Overview Objective and scope Selection and application of accounting policies Changes in accounting policies Changes in accounting estimates Corrections of errors IAS 8 – Objective and Scope Key is comparability Objectives: How to choose accounting policies Reporting changes in accounting policies Reporting changes in estimates Reporting the correction of errors IAS 8 – Selection and Application of Accounting Policies For a specific transaction or event - First, look to the IFRS that deals specifically with that situation: International Financial Reporting Standards, International Accounting Standards, and Interpretations developed by IFRIC or predecessor SIC Appendices and implementation guidance attached to these are an integral part of each only if stated on the specific standard. IFRS standards and interpretations - top of the GAAP hierarchy When applied – information is assumed to be relevant and reliable What if no specific IFRS that applies? IAS 8 – Selection and Application of Accounting Policies If no specific IFRS that applies: Use judgment Develop a policy that results in relevant and reliable information Hierarchy of sources to use Other IFRS with similar situations and issues Conceptual framework basics If not in conflict with above, use other sources: Pronouncements of other standard setters with similar frameworks, accounting literature, .

• Kế toán - Kiểm toán
• International Financial Reporting Standards
• Non financial assets
• Reporting basics
• Financial assets
• Reporting entity
• Accounting policies
• Financial accounting
• Financial reporting
• Financial reporting standards
• Merchandising operations
• Internal control
• Financial statements
• Stockholders’ equity
• Financial statement analysis
• International financial reporting
• Conceptual framework
• Financial position
• Globalization trend
• International Accounting Standards Board
• Employee benefits
• Revenue recognition
• Including construction contracts
• government grants
• Foreign currency
• Accounting standards worldwide
• Wiley IFRS 2013
• International Financial Reporting Standard
• Tiêu chuẩn báo cáo tài chính quốc tế
• Financial liabilities
• Interim financial reports
• Interim financial reporting
• Summary of dissertation
• International financial reporting standards adoption
• Vietnamese enterprises
• IFRS standards in Vietnamese enterprises
• Application of IFRS standards
• Accounting standards
• Financial statement
• Stock exchange
• Joint stock companies
• Vietnam’s accounting standards
• Financial reporting under IFRS
• International trends
• Financial instruments
• Share based payments
• Standards applicable
• IFRS financial statement
• Separate financial statements