ias8 - IAS 8 International Accounting Standard 8 Accounting...

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IAS 8 © IASCF A351 International Accounting Standard 8 Accounting Policies, Changes in Accounting Estimates and Errors This version includes amendments resulting from IFRSs issued up to 31 December 2009. IAS 8 Net Profit or Loss for the Period, Fundamental Errors and Changes in Accounting Policies was issued by the International Accounting Standards Committee in December 1993. It replaced IAS 8 Unusual and Prior Period Items and Changes in Accounting Policies (issued in February 1978). The Standing Interpretations Committee developed two Interpretations relating to IAS 8: •S I C - 2 Consistency—Capitalisation of Borrowing Costs (issued December 1997) I C - 1 8 Consistency—Alternative Methods (issued January 2000). Paragraphs of IAS 8 (1993) that dealt with discontinued operations were superseded by IAS 35 Discontinuing Operations (issued in June 1998 and superseded by IFRS 5). In April 2001 the International Accounting Standards Board (IASB) resolved that all Standards and Interpretations issued under previous Constitutions continued to be applicable unless and until they were amended or withdrawn. In December 2003 the IASB issued a revised IAS 8 with a new title— Accounting Policies, Changes in Accounting Estimates and Errors . The revised standard also replaced SIC-2 and SIC-18. IAS 8 and its accompanying documents have been amended by the following IFRSs: •I A S 2 3 Borrowing Costs (as revised in March 2007) * A S 1 Presentation of Financial Statements (as revised in September 2007) * Improvements to IFRSs (issued May 2008) * F R S 9 Financial Instruments (issued November 2009). The following Interpretations refer to IAS 8: I C - 7 Introduction of the Euro (issued May 1998 and subsequently amended) I C - 1 0 Government Assistance—No Specific Relation to Operating Activities (issued July 1998 and subsequently amended) I C - 1 2 Consolidation—Special Purpose Entities (issued December 1998 and subsequently amended) I C - 1 3 Jointly Controlled Entities—Non-Monetary Contributions by Venturers (issued December 1998 and subsequently amended) * effective date 1 January 2009 effective date 1 January 2013 (earlier application permitted)
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IAS 8 A352 © IASCF •S I C - 1 5 Operating Leases—Incentives (issued December 1998 and subsequently amended) I C - 2 1 Income Taxes—Recovery of Revalued Non-Depreciable Assets (issued July 2000 and subsequently amended) SIC-25 Income Taxes—Changes in the Tax Status of an Entity or its Shareholders (issued July 2000 and subsequently amended) SIC-27 Evaluating the Substance of Transactions Involving the Legal Form of a Lease (issued December 2001 and subsequently amended) I C - 3 1 Revenue—Barter Transactions Involving Advertising Services (issued December 2001 and subsequently amended) •I F R I C 1 Changes in Existing Decommissioning, Restoration and Similar Liabilities (issued May 2004 and subsequently amended) F R I C 4 Determining whether an Arrangement contains a Lease (issued December 2004 and subsequently amended) F R I C 5 Rights to Interests arising from Decommissioning, Restoration and Environmental Rehabilitation Funds
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ias8 - IAS 8 International Accounting Standard 8 Accounting...

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