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Ias 8 change in accounting policy

03/10/2021 Client: muhammad11 Deadline: 2 Day

Question One IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors is applied in selecting and applying accounting policies, accounting for changes in estimates and reflecting corrections of prior period errors. Required: a) Explain the basis on which the management of an entity must select its accounting policies and (02 marks) b) Distinguish, with an example, between changes in accounting policies and changes in accounting estimates. (03 marks)

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