Change in accounting policy

Learning objectives

• Assess when a change of model is permitted (more relevant information) and how it is accounted for.L2, L3

Normative references

• IAS 40 §31Voluntary change in accounting policy: under IAS 8, permitted only if it results in reliable and more relevant information; a change from the fair value model to the cost model is described as highly unlikely. The 2025 edition refers to IAS 8 under the title resulting from IFRS 18 (para. 85I, applicable with IFRS 18); the substantive requirement is unchanged.

Original summaries of the paragraphs (reference register), never a quotation of the standard.

1 question

• Which statement is correct about a change in the measurement model for investment property?L2