IFRS: Accounting Policies, Changes in Accounting Estimates and Errors (IAS 8)

Overview

This course is part of the IFRS Certificate Program - a comprehensive, integrated curriculum that will give you the foundational training, knowledge, and practical guidance in international accounting standards necessary in today's global business environment.

This self-study course course addresses requirements of IAS 8, Accounting Policies, Changes in Accounting Estimates and Errors, including the following:

• Components of accounting policies
• Selection of accounting policies
• Changes in accounting policies and related disclosure requirements
• Changes to accounting estimates and related disclosure requirements
• Correction of a prior-period error and related disclosure requirements

This course includes interactive learning elements, video content, and real-life application through case studies.

Note: Individual courses purchased within the last year can be applied toward the purchase of the IFRS Certificate Program. Find out more.

Prerequisites

Familiarity with financial reporting and accounting principles under IFRS

Objectives

Learning Outcomes

• Determine how to select an accounting policy.
• Identify the criteria for determining when it is appropriate to change an accounting estimate.
• Identify criteria that should be applied when selecting and changing accounting policies.
• Recognize the impact on the financial statements of changing an accounting policy or estimate.