Which, if any, of the following statements are correct according to IAS 8 Net Profit or Loss for the Period,
Fundamental Errors and Changes in Accounting Policies?
(1) The correction of a fundamental error relating to a past period should be made in the current period. It is
not acceptable to make the correction by adjusting the opening balance of retained earnings.
(2) A change in an accounting estimate constitutes a fundamental error and should be accounted for as such.
(3) The benchmark treatment for a change of accounting policy is normally to apply it retrospectively, with
adjustment to the opening balance of retained earnings.
A 1 only
B 2 only
C 3 only
D None of the statements are correct.
C | 
发表于 2008-4-17 17:56
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