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IAS 8Accounting Policies, Changes in Accounting Estimates and Errors

IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors — wording before IFRS 18Applicable today

Applies to annual periods beginning before January 1, 2027.

IAS 8Chapter 3Lesson 3

Consistency of policies and categories

Step 1 of 8Learning objectives

Go deeper+1 deeper insight · +1 point of attention

An entity applies the same policies to similar transactions, events and conditions. An exception exists when an IFRS requires or permits categorisation for which different policies may be appropriate: an appropriate policy is then selected for each category and applied consistently within it.

12 minNot started

Learning objectives

  • Spot an inconsistent application of policies to similar transactions.
  • Recognise cases where an IFRS permits categories and check consistency within each.

In this lesson

Original teaching content: it paraphrases the standard without reproducing it and does not replace the official text.

Contents — IAS 8 — Accounting Policies, Changes in Accounting Estimates and Errors

  1. 1 · Not startedObjective and scope0 / 1 lesson
  2. 2 · Not startedDefinitions: policy, estimate, error0 / 1 lesson
  3. 3 · Not startedSelecting and applying accounting policies0 / 3 lessons
  4. 4 · Not startedChanges in accounting policies0 / 5 lessons
  5. 5 · Not startedAccounting estimates and changes in them0 / 3 lessons
  6. 6 · Not startedPrior period errors0 / 2 lessons
  7. 7 · Not startedImpracticability and the prohibition of hindsight0 / 1 lesson