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Disclosure initiative — Changes in accounting policies and estimates (Potential Amendments to IAS 8) - IASB

Date recorded:

At its meeting on April 21, 2016, the IASB tentatively decided to amend the definitions of accounting policies and changes in accounting estimates in IAS 8 in order to: (i) clarify the definitions of accounting policies and of changes in accounting estimates with the objective of making them more concise and distinctive; (ii) clarify how accounting policies and estimates relate to each other; (iii) add guidance about whether changes in valuation techniques and in estimation techniques are changes in accounting estimates; and (iv) update examples of estimates provided in IAS 8. Also, the Board tentatively decided that it would not amend the requirement, in paragraph 39 of IAS 8, to disclose the nature and amount of a change in an accounting estimate.

Review the IASB Update on the IASB's Web site.

Correction list for hyphenation

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