IAS 34Chapter 6Lesson 1
Change in accounting policy: restating the interim periods
Step 1 of 8Learning objectives
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A change in accounting policy leads to restating the previous interim periods of the year, or to applying the new policy prospectively if the cumulative effect at the beginning of the year is indeterminable.
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Learning objectives
- Determine whether a change in policy requires restating the interim periods or applying it prospectively.
- Calculate the restated amount of an interim period from the published amount and the effect.
- Explain the aim: a single policy throughout the year.