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Pas 8 Acctg Policies Changes in Acctg Estimates Errors
Pas 8 Acctg Policies Changes in Acctg Estimates Errors
&
ACCOUNTING STANDARDS
Lecture Aid
By: Zeus Vernon B. Millan
1
PAS 8 Accounting Policies, Changes in
Accounting Estimates and Errors
Learning Objectives
• Define the following and give examples: (1) Change in
accounting policy, (2) Change in accounting estimate, and (3)
Error.
• Differentiate between the accounting treatments of the
following: change in accounting policy, change in accounting
estimate, and correction of prior period error.