IFRS Learning Modules are a series of courses that provide in-depth overviews of various topics related to International Financial Reporting Standards (“IFRS”). IFRS represents the global accounting principles that provide the foundation for most of the world’s financial reporting. These Standards establish the recognition, measurement, presentation and disclosure requirements for transactions and events reflected in IFRS financial statements.
This module of the IFRS Learning Module series presents an overview of IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors and discusses the IASB’s and FASB’s efforts towards achieving convergence in these areas of financial reporting.
Course Publication Date:
October 30, 2023
This course is available with
NO ADDITIONAL FEE if you have an active
self study membership or
all access membership or can be purchased for
$10.00!
| Author: | Michael Walker |
| Course No: | ACT-IFRSERRORS-7053 |
| Recommended CPE: | 1.00 |
| Delivery Method: | QAS Self Study |
| Level of Knowledge: | Overview |
| Prerequisites: | None |
| Advanced Preparation: | None |
| Recommended Field of Study: | Accounting
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Learning Objectives
- Properly classify accounting changes (i.e. changes in accounting policy, changes in accounting estimates, and error corrections) per the guidelines of IAS 8.
- Describe the recognition and disclosure requirements for each type of accounting change under IAS 8.
- Describe the similarities and differences between IFRS and U.S. GAAP in the area of accounting changes.