This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice (http://www2.deloitte.com/ca/en/legal/cookies.html) for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

AcSB Response – Accounting Policies and Accounting Estimates (Proposed amendments to IAS 8)

  • IFRS - AcSB Image

Jan 11, 2018

On January 11, 2018, the Accounting Standards Board (AcSB) submitted a comment letter responding to the IASB’s Exposure Draft  issued in September 2017. The letter agrees with some parts of the proposals, but expresses concerns with the way the relationship between accounting estimates and accounting policies is described.

The AcSB suggests broadening the definition of accounting estimates, and defining that term independently from accounting policies to reduce unintended circularity. To improve application in practice, the AcSB strongly encourages the IASB to develop illustrative examples that cover a spectrum of complex situations.

Read the AcSB letter posted by the IASB.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.