IAS 8: Accounting Policies, Changes in Accounting Estimates and Errors. |With Solved Questions|

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Entities will prepare and present financial statements anyhow when not govern or guided a by specific policy, standard or principle. How will management of a firm treat an item or transaction that do not have any accounting standard or policy? How will a change in existing accounting standard or policy be effected by entities? How should estimates and errors be accounted for? The answer to the above questions are contained in the video above. All the information needed to understand the international accounting standard 8 as well solving practical questions are provided in the video. Thanks for learning with us. RONAS: Comprehending the Complications.

Chapters
00:00 Introduction
07:15 Selection of Accounting Policy
12:15 Change in Accounting Policy
16:53 Accounting treatment of Change of in Policy
18:37 First practical sample question solutions
28:57 Estimates
34:27 Errors
36:47 Second practical question solutions
46:57 Third practical sample question solutions
55:01 Disclosure requirements

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ronasacademy

I really love your videos, it's very understandable.

keziahtwentoh

If the item included in inventory was sold in the year, why was sales not affected in the solution to question since sales proceeds was Dr cash and Cr Sales

taiwoomoyeni

This is amazing. More of this, please. I'm in my second sem of majoring in accounting and I've regreted reading it already. Is accounting that diffficult or my lecturers just suck? 😂😂😂😂😂😂

abdul-rahmanmusah

Great video 👍🏾👍🏾👍🏾. Please how do I get the questions?

anthonyparry

Am I the only one having problem with the inventory been added.
Since it wasn’t supposed to be there why don’t we deduct

jeffbilson

Thank you very much sir😊
Easy to understand
But pls sir how can I have the questions

OrabelemaAcheseinimie

Thank you so much, that is a good explanation.

AwokeOnyekachiPeculiar

greeat work but please work on the video quality

henrykwarteng

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