IAS 8: Accounting Policies, Changes in Accounting Estimates and Errors (Answers)

Answers:

01.  Accounting for property, plant and equipment. 

02.  Financial statements.

03.  All above are included.

04.  True

05.  Errors in director’s commentary in prior period’s reports.

06.  When entity can not apply after doing any reasonable effort.

07.  Prospective application.

08.  By applying that specific IFRS.

09.  Does not contain requirements for financial statements.

10.  True