An enterprise has made a material change to an accounting policy in preparing its current financial statements.
Which of the following disclosures are required by IAS 8 Accounting policies, changes in accounting estimates
and errors in these financial statements?

1   The reasons for the change.
2   The amount of the consequent adjustment in the current period and in comparative information for prior periods.
3    An estimate of the effect of the change on future periods, where possible.

A    1 and 2 only
B    1 and 3 only
C    2 and 3 only
D    All three items

A