IAS 34Chapter 3Lesson 2
Materiality and the change in estimate of the final interim period
Step 1 of 7Learning objectives
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Significance is assessed against the data of the interim period; a significant change in estimate in the final interim period, with no separate report, is disclosed in a note to the annual statements.
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Learning objectives
- Assess the significance of an item against the data of the interim period.
- Know that the standard sets no single percentage.
- Determine where to disclose a significant change in estimate in the final interim period.
- Calculate the effect of a change in estimate as the difference between the revised annual amount and the previous estimate of the same item, and distinguish it from the final-quarter charge.