How should the following changes be treated, according to PAS 8? I. A change is to be made in the method of calculating the provision for uncollectible receivables.; II. Investment properties are now measured at fair value, having previously been measured at cost. Change (1) Change (2) * Change of accounting policy Change of accounting policy Change of accounting policy Change of accounting estimate Change of accounting estimate Change of accounting policy Change of -current cost accounting estimate Change of accounting estimate

How should the following changes be treated, according to PAS 8? I. A change is to be made in the method of calculating the provision for uncollectible receivables.; II. Investment properties are now measured at fair value, having previously been measured at cost. Change (1) Change (2) * Change of accounting policy Change of accounting policy Change of accounting policy Change of accounting estimate Change of accounting estimate Change of accounting policy Change of -current cost accounting estimate Change of accounting estimate

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Which of the following would be considered a change that affects consistency? * Change in accounting estimate. O Change in reporting entity. Change in classification and reclassification.
Define and explain the accounting treatment of the following items: Change in accounting estimate Change in accounting principle
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