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IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors is applied in selecting and applying accounting policies, accounting for changes in estimates and reflecting corrections of prior period errors.
In light of above statement you are required to analytically discuss the IAS 8 with respect to its procedure and applicability in accounting Policies, changes in accounting estimates and errors. The activity will be tested in accordance with the following criteria.
-Introduction
-Scope of IAS 8
-Selection and application of accounting policies
-Consistency of accounting policies
Finance is about Gunns Ltd, a company in dealing with forestry products in Australia. The company has also been listed in Australian Stock Exchange. As many companies producing forestry products, even Gunns Ltd is facing various problems. Due to the ..
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